Observation

Most candidates avoided this question. Few who attempted the question performed well.

Expected responses are.

4.         Explanation of the marketing environmental factors

(i)         Political Factor
These are laws, procedures, practices and policies formulated by government to regulate and facilitate business activities. It also involves the stability or instability of the government.

 

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(ii)        Cultural Factors
These are ways of life of people such as language, aesthetics and their perception.  A marketer should learn to adjust to the culture of the people for him to operate successfully.                                                   
(iii)       Technological Factor 
These are changes or advancement in process, equipment and devices that are used to accomplish the tasks of the marketer or an organization.
(iv)       Economic Factors 
These consist of inflation, national income and the economic system of a country. It also includes changes in business cycle. A marketer should be able to adjust to such changes in order to operate successfully.

                        (v)        Social Factor

These are values and norms of the society, interest groups, reference groups and social class.  These factors influence buying decisions of consumers.