Question 2
- State five features of the post-independence era in the history of marketing in Nigeria.
- Explain five functions of marketing in Nigeria.
Observation
Most candidates did not attempt this question. Those who did, performed very poorly. In (a) part of the question, they stated the features of the pre-independence era. While in (b) part of the question, some of the candidates stated the meaning of the 4Ps of marketing while others wrote the functions of a marketing manager.
The expected responses are
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Features of the Post-independence era in the history of Marketing in Nigeria
- Advancement in technology that resulted in the introduction of electronic marketing of products otherwise known as Internet marketing.
- Accreditation of higher institutions to teach Marketing in tertiary institutions.
- The separation of Marketing from other business disciplines for it to have its autonomous status.
- The discovery of crude oil in large quantities in Nigeria requiring the oil companies to market their products worldwide.
- The emergence of automation which resulted to mass production requiring companies to sell their products and this demanded the application and practice of marketing.
- The lifting of embargo on imported goods resulting in mass importation of products which required firms to apply marketing principles in selling these products.
- The establishment of multinational companies resulted in intense competition for customers’ patronage hence, requiring specialists in marketing.
- The establishment of professional bodies charged with the responsibility of standardizing professional marketing practice in Nigeria.
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Functions of Marketing in Nigeria
- It is involved in the movement of products from manufacturers to consumers.
- It provides storage for goods between the time of production and consumption.
- It enhances the standardization and grading of products.
- It provides vital information to the society on the type of products, price and where the products are found.
- It facilitates the bearing of risk in the distribution of products.
- It facilitates the adoption of an acceptable price strategy for a company’s products.
- It facilitates product development.
- It facilitates import and export of goods.
- It encourages buyer-seller relationship.
- It enhances the identification of market opportunities by companies.