06/05/2025
[5/6, 9:34 AM] +234 906 907 2051: *WAEC COMMERCE ANSWERS*
*NUMBER FIVE*
(5a)
Seasonal discounts
(5b)
(PICK ANY FOUR)
(i) To encourage purchases during periods of low demand.
(ii) To maintain steady production and reduce idle time.
(iii) To clear out old stock or inventory before the next season.
(iv) To improve cash flow during slow business periods.
(v) To attract new customers and retain existing ones.
(vi) To stay competitive in the market and gain market share.
(5c)
(PICK ANY FIVE)
(i) To collect import and export duties and taxes.
(ii) To enforce laws regulating the import and export of goods.
(iii) To prevent the entry of prohibited and dangerous goods.
(iv) To facilitate legitimate international trade.
(v) To compile trade statistics and monitor trade trends.
(vi) To protect local industries by implementing tariffs and trade policies.
[5/6, 9:34 AM] +234 906 907 2051: *NUMBER SEVEN*
(7a)
Marketing is the process of identifying, anticipating, and satisfying customer needs and wants profitably.
(7b)
(PICK ANY THREE)
(i) Market research: Gathering and analyzing information about consumers and market trends.
(ii) Product development: Creating products that meet customer needs.
(iii) Promotion: Communicating product benefits to customers to encourage purchase.
(iv) Pricing: Setting competitive prices that reflect value and market conditions.
(v) Distribution: Delivering products to customers through appropriate channels.
(vi) Customer relationship management: Building and maintaining strong relationships with customers.
(7ci)
Customer service: Customer service refers to the assistance and advice provided by a company to those who buy or use its products or services. It includes answering inquiries, handling complaints, and ensuring customer satisfaction.
(7cii)
Sales promotion: Sales promotion involves short-term incentives used to encourage the purchase or sale of a product or service, such as discounts, coupons, contests, and buy-one-get-one-free