Observation

Most candidateswho attempted this question explained a market from ‘a place’ point of view for other provided the definition of marketing in question 1a. For question 1b, some candidates listed the functions of marketing instead of stating as required in the question.
For question 3c, some candidates approach to the question showed that they are not familiar with these terms in marketing.

The expected responses are:

1.(a)     A market can be defined as a collection of current and future individuals or
organizations who buy or sell products.
OR
A market can be defined as the present and potential buyers of a product.

                (b)    Functions of Marketing includes:

                        (i)         Carrying out marketing research;
(ii)        Involving in product planning and development;
(iii)       Selling the company’s products;
(iv)       Determining the price of products;
(v)        Determining the channel of distribution;
(vi)       Involving in personal selling;
(vii)      Ensuring credit control;
(viii)     Engaging in advertising;
(ix)       Carrying out sales forecasting;
(x)        Offering customer support services (After-sales services)
(xi)       Involving in public relations;
(xii)      Involving in merchandising;
(xiii)     Carrying out packaging and labeling activities;
(xv)      Engaging in product branding.          

                 (c)   (i)         Government market

This market consists of local, state and federal government that purchase
goods and services to support their internal operations and to provide for
essential service for citizens.

                        (ii)        Reseller market

This is a market that consists of distributors, dealers, wholesaler and retailers who buying materials, finished goods and resell them to individual or organizations at a profit.
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(iii)       Industrial market

                                    This is a market that consists of individuals groups or organizations that

buy products for direct use in manufacturing other products for resale or for use in the daily operations of the business.