(a) Explain the following: (i)… | Marketing

Question 1 Report

(a) Explain the following:
(i) consular invoice (ii) waybil

(b) Explain seven factors that will influence the place Tochukwu will locate his grocery business.

Answer

(a) Explanation of terms

Consular invoice: This is a special invoice covering exported goods that is certified/endorsed by the consul (embassy official) of the importing country stationed in the exporter's country. It confirms details such as the description, quantity and value of the goods, and it helps the importing country's customs to assess duty and check that the goods are genuine and correctly valued.
Waybill: This is a document that accompanies goods being transported by road or rail. It shows the name and address of the sender (consignor) and the receiver (consignee), a description of the goods, the quantity and the terms of carriage. It serves as evidence that the goods were dispatched and as a record for delivery, but it is not a document of title.

(b) Seven factors that will influence where Tochukwu locates his grocery business

Nearness to customers: The shop should be sited in a densely populated area or near residential estates where many buyers of groceries live.
Availability of good roads/transport: The site should be easily reachable by roads and transport for both customers and delivery of stock.
Cost of land/rent: The rent or price of the premises must be affordable relative to expected sales.
Security of the area: The location should be safe from theft, violence and vandalism.
Availability of infrastructure/utilities: Presence of electricity, water and communication facilities (needed for refrigeration and lighting).
Nearness to source of supply: Closeness to wholesalers/markets that supply groceries reduces transport cost and ensures fresh stock.
Level of competition: He should consider the number and strength of rival grocery shops already in the area.
Government regulations/zoning: The area must be one where trading is legally permitted, with the necessary permits obtainable.
Availability of parking space: Space for customers to park encourages patronage.

Answer Details

(a) Explanation of terms

Consular invoice: This is a special invoice covering exported goods that is certified/endorsed by the consul (embassy official) of the importing country stationed in the exporter's country. It confirms details such as the description, quantity and value of the goods, and it helps the importing country's customs to assess duty and check that the goods are genuine and correctly valued.
Waybill: This is a document that accompanies goods being transported by road or rail. It shows the name and address of the sender (consignor) and the receiver (consignee), a description of the goods, the quantity and the terms of carriage. It serves as evidence that the goods were dispatched and as a record for delivery, but it is not a document of title.

(b) Seven factors that will influence where Tochukwu locates his grocery business

Nearness to customers: The shop should be sited in a densely populated area or near residential estates where many buyers of groceries live.
Availability of good roads/transport: The site should be easily reachable by roads and transport for both customers and delivery of stock.
Cost of land/rent: The rent or price of the premises must be affordable relative to expected sales.
Security of the area: The location should be safe from theft, violence and vandalism.
Availability of infrastructure/utilities: Presence of electricity, water and communication facilities (needed for refrigeration and lighting).
Nearness to source of supply: Closeness to wholesalers/markets that supply groceries reduces transport cost and ensures fresh stock.
Level of competition: He should consider the number and strength of rival grocery shops already in the area.
Government regulations/zoning: The area must be one where trading is legally permitted, with the necessary permits obtainable.
Availability of parking space: Space for customers to park encourages patronage.

(a) Explain the following: (i) consular invoice (ii) waybil (b) Explain seven factors that will influence the place Tochukwu will locate his grocery busines...