WAEC Marketing Questions and Answers 2026/2027 – Objective & Essay Practice - MYDPORT

Preparing for the 2026/2027 WAEC Marketing exam? Here, you’ll find sample objective and essay (theory) questions with answers to guide your revision. This study material will help you understand key concepts in Marketing and boost your exam confidence.

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Waec Marketing 2 (Essay)** – 09:30am – 11:30am

Waec Marketing 1 (Objective)** – 11:30am – 12:20pm

WAEC Marketing Objective Questions (Sample)

1–10: DABDDABCDA
11–20: DDCADBCCDD
21–30: ACADBBCBDC
31–40: BDDCBDBBDB
41–50: BCCBDDCACB

WAEC Marketing Essay Questions & Answers (Sample)

Question 1: The Concept of Entrepreneurship

(1ai)
Entrepreneurship refers to the concept of developing and managing a business venture in order to gain profit by taking several risks in the corporate world.

(1aii) Sources of Business Finance

• Retained Earnings

• Debt Capital (e.g., bank loans)

• Equity Capital (e.g., shares issued to investors)

• Personal Investment

(1b) Factors Influencing Business Location

• Availability of raw materials

• Nearness to market

• Availability of basic infrastructure

• Economic policies

• Demographics

• Psychographics

Question 2: Meaning of Marketing

• Marketing refers to the performance of business activities that direct the flow of goods and services from producers to consumers in order to satisfy needs.

• OR: Marketing can be defined as the process of communicating the value of a product or service to customers.

Functions of Marketing (any six):

• Risk bearing

• Financing

• Storage/warehousing

• Buying and selling

• Grading and standardizing

• Marketing information/research

• Transportation

Question 4: Key Marketing Terms

• Need: A consumer’s desire for a product or service’s benefit.

• Want: Desire for products not necessary but wished for.

• Exchange: The marketplace where goods and services are traded.

• Demand: The total quantity of a product customers are willing to buy.

• Transaction: A completed agreement between a buyer and seller.

Question 6: Elements of the Marketing Environment

• Suppliers: Provide resources for production.

• Market Intermediaries: Distribute products or services.

• Partners: Agencies and firms that collaborate with the business.

• Customers: Target group of the business.

• Competitors: Other businesses offering similar products.

Ways to Promote New Products:

• Offer discounts to loyal customers.

• Special introductory offers.

• Run social media contests.

• Host events to engage prospects.

These questions are meant for practice and preparation only. They are not “expo” or live exam answers but compiled study resources to help students prepare better for their 2026/2027 WAEC Marketing exam.