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|Job title : Sales & Marketing Executive
Questions being asked in the interview :
1.What is marketing?
Ans:Marketing can be referred to as a form of communication with your customers, with the help of marketing tools such as advertising, promotion, publicity, design aspects related to the look of the product etc. All these are aimed at getting the target audience (customer) to first get interested in your product or service and then ultimately buy them.
2. Explain its core concepts.
Ans:Needs ,wants and demands are the core concepts of marketing. These are basically inter related to each other which means needs which could be individualistic, social or physical arise due to a state of deprivation and have to be fulfilled for a basic human survival. Some human needs shaped by cultural and individual experiences and lifestyles take the form of wants. Ultimately demands are those sets of wants which are backed by the power to buy and could be related to many needs & wants. Other related concepts of marketing may include the Marketplace with exchange and the actual transaction as its base.
3. What do you mean by marketing mix?
Ans:The term marketing mix is referred to the amalgamation and use of the four P’s of marketing in a manner so as to attain the highest level of customer motivation to buy a particular product or services. Price, place, product and promotion are elements which constitute the four P’s of the marketing mix. Some commentators may increase the marketing mix to the Five P's, to include people. Others may increase the mix to Seven P's, to include physical evidence and process.
4.What are the components of Macro environment?
Ans:Macro environment is basically referred to the area of external business operations of a particular organization. The components of a macro environment have to be well analyzed before planning the course of marketing programmes as it affects the very performance of a product or an organization. All the factors affecting the performance of a firm in the macro environment are referred to as the components which could be economic, demographic, technological, natural, social ,cultural, legal and political.
5.Explain - Customer delivered value, Total customer value, Total customer cost.
Ans:Customer delivered value : The term marketing does not revolve around fulfilling the needs of a consumer alone but also includes the value that the consumer is deriving from the use of the said product or service. This value is arrived at by subtracting what the product cost a consumer(total customer cost) from the benefits derived by him from the product (Total customer value).
Total customer value : The sum total of all the benefits (Product value ,service value, personnel value, Image value) that a customer derives from a product or a service is termed as the total customer value . In other words these are the benefits that the vendor or seller provides in return of the associated payments received from a customer.
Total customer cost : The total cost incurred by a customer in the process of evaluating what he wants to buy, buying a product, using it and ultimately disposing it of is termed as total customer cost. (monetary,time,energy,psychic)
6.Explain - Basic marketing, Reactive marketing, Accountable marketing, Proactive marketing and Partnership marketing.
Ans:Basic marketing : Basic marketing is the set of activities used to get your potential customer's attention. After this one has to formulate the communication in a manner so as to motivate them to buy. Thereafter the efforts are directed towards getting the customers to actually purchase. And then the ultimate goal that is to get them to buy the product again and again .This process on the whole is referred to as basic marketing.
Reactive marketing : Reactive marketing is the most widely used approach in marketing. Reactive marketing is based on the concept of react ,which mean for example if a competitor company is following certain marketing practices with good resultant output we do the same by slight change in design or price and adopting the same marketing policies. The ease of approach in reactive marketing is the very reason for its popularity. At times due to stiff competition in the market a firm might have no choice but to follow it so as to survive in the marketplace and make profits.
Accountable marketing : Accountable marketing works on the concept that all the targeted marketing communications should be accounted for in terms of the result or output they generate. In other words every act of communication should concentrate on a unique selling or a benefit driven point related to the product which ultimately results in motivating the customer and adding on to the brand image of a brand or the product on a whole.
Proactive marketing : Proactive marketing basically is an innovative form of marketing which is based on new ideas in terms of the creative content used as well as the creativity involved in the formation of marketing strategies. It definitely involves a lot more work but the end result might be much better than other forms of marketing. Doing something new and different in the market place to attract the attention of the consumer is the core aspect of proactive marketing.
Partnership marketing : The customer is always looking for something more than what the actual benefits of a product might be. Thus partnership marketing plays ball on the very fact to create marketing communication and propositions for the customer which include value addition of benefits to customer ,sourced and negotiated with a third partner. The benefit in this form of enhanced propositions is that not only is it beneficial for the consumer and the brand but also for the third partner by reducing costs of marketing communications. Partnership marketing basically aims at adding more and more value to the benefits derived by a customer.
(Written on: 21.10.2015)