MARKETING QUESTIONS

Made By:-

Deepshikha Gupta

Marketing ?

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..

Selling has a product focus and mostly producer driven. It is theaction part of marketing only and has short – term goal ofachieving market share. The emphasis is on price variation forclosing the sale where the objective can be stated, as “I mustsomehow sell the product”. This short – term focus does notconsider a prudential planning for building up the brand in themarket place and winning competitive advantage through a highloyal set of customers. The end means of any sales activity ismaximizing profits through sales maximization.

1. Product Oriented

2. Push the product to the Customer

3. It helps in volume generation

4. One way communication

5. Planning is short-run-oriented in

terms of today’s products and

markets

6. Cost determines Price

7. Selling views customer as a last

link in business

1. Customer Oriented

2. Pull the Customer towards Product.

3. It help in Value generation

4. Two Way communication

5. Planning is long-run-oriented in

today’s products and terms of new

products, tomorrow’s markets

and future growth

6. Consumer determine price, price

determines cost

7. Marketing views the customer last

link in business as the very purpose

of the business

Sales V/s Marketing

POSITIONING

"The Place A Product Occupies In Consumers

Minds Relative To Competing Products"

who and where are you ?

Why is Positioning important?

Positioning is like story telling. Done well it can engross

you. Done poorly and you stop reading. It is the most

important aspect of B2B technology marketing because it

is the foundation for everything you do in marketing.

Effectively done, positioning quickly tells the recipient of

your marketing message why they should care about your

product, solution, technology or company.

In Crossing the Chasm, Geoffrey Moore writes,

“Positioning is the single largest influence on the buying

decision.” Moore describes a position as a buyer’s

shorthand for the best solution for a particular problem.

Your positioning statement needs to be

unique. No competitor is making a similar

claim.

It needs to be believable and important; it

addresses the target buyer’s No. 1 problem.

It needs to be adaptable to others involved in

the buying process in case you need to

message to different audiences.

It needs to be useable in all types of

marketing communications and sales

presentations; you can create sample

marketing materials (press release, e-mail

blast, web site content, etc.) to test for

usability

What are the Marketing 4P’s?

PRODUCT PRICE PLACEPROMOTION

•Product – The first of the Four Ps of marketing is product. A product can be either a tangible good or an

intangible service that fulfills a need or want of consumers. Whether you sell custom pallets and wood products or

provide luxury accommodations, it’s imperative that you have a clear grasp of exactly what your product is and

what makes it unique before you can successfully market it.

•Price – Once a concrete understanding of the product offering is established we can start making some pricing

decisions. Price determinations will impact profit margins, supply, demand and marketing strategy. Similar (in

concept) products and brands may need to be positioned differently based on varying price points, while price

elasticity considerations may influence our next two Ps.

•Promotion – We’ve got a product and a price now it’s time to promote it. Promotion looks at the many ways

marketing agencies disseminate relevant product information to consumers and differentiate a particular product or

service. Promotion includes elements like: advertising, public relations, social media marketing, email marketing,

search engine marketing, video marketing and more. Each touch point must be supported by a well positioned

brand to truly maximize return on investment.

•Place – Often you will hear marketers saying that marketing is about putting the right product, at the right price, at

the right place, at the right time. It’s critical then, to evaluate what the ideal locations are to convert potential clients

into actual clients. Today, even in situations where the actual transaction doesn’t happen on the web, the initial

place potential clients are engaged and converted is online.

Market Segmentation

Market segmentation is

a marketing strategy which

involves dividing a broad target

market into subsets of consumers,

businesses, or countries that have,

or are perceived to have, common

needs, interests, and priorities, and

then designing and implementing

strategies to target them.

What is USP?

USP (Stands For Unique Selling Point) The factor or consideration

presented by a seller as the reason that one product or service is different

from and better than that of the competition .

For example, Charles Revson, founder of Revlon, always used to say he

sold hope, not makeup. Some airlines sell friendly service, while others sell

on-time service. Neiman Marcus sells luxury, while Wal-Mart sells bargains

What is CRM?

The generally accepted purpose of Customer Relationship Management

(CRM) is to enable organizations to better serve their customers through

the introduction of reliable processes and procedures for interacting with

those customers”. Which is as good a definition as any

What is the difference between a Customer and a Consumer?

Customer is one who buy the product while consumer is who consume the

product.It may be same or either different

Consumer is also known as end user of product

FOR EXAMPLE:- mother buy Maggi for her children . So there mother is the

customer and her children are consumer

What are the current approaches used for Marketing?

a. Relationship marketing: This approach basically deals with

customer satisfaction. The whole emphasis is done on the relationship

between the suppliers and customers.

b. Business Marketing: It does not focuses on consumer products

rather it focuses on industrial goods. All sort of marketing techniques are

like promotion, advertising, etc are used.

c. Social marketing: It focuses on marketing a product socially i.e.

online.

What is Brand Equity?

The commercial value that derives from consumer perception of

the brand name of a particular product or service, rather than

from the product or service itself.

Component of Brand Equity:-

• Brand Loyalty

• Brand Preference

• Brand recognition

• Brand Experience

What is the importance of Market Research?

Identifying problem and opportunities in the market

Formulating market strategies

Determining consumer needs and wants

Improving selling activities

For sales forecasting

To revitalize brands

To facilitate smooth introduction of new products

Determine export potentials

Managerial decision-making

What is the difference between Qualitative research and Quantitative research?

What is PLC?

The product life cycle is an

important concept in marketing.

It describes the stages

a product goes through from

when it was first thought of until

it finally is removed from the

market. Not all products reach

this final stage. Some continue

to grow and others rise and fall.

What is BCG Matrix and why is it used?

The Boston Consulting Group (BGC) growth share matrix is a planning tool

that uses graphical representations of a company’s products and services in

an effort to help the company decide what it should keep, sell or invest more

in. The BCG growth share matrix plots a company’s offerings in a four square

matrix, with the y-axis representing rate of market growth and the x-axis

representing market share.

What is Competitive Advantage?

Competitive advantages are conditions that allow a company or country to

produce a good or service at a lower price or in a more desirable fashion for

customers. These conditions allow the productive entity to generate more sales

or superior margins than its competition. Competitive advantages are attributed

to a variety of factors, including cost structure, brand, quality of

product offerings, distribution network, intellectual property and customer

support.

What is the role of a Marketing Manager?

Market Segments: Depend on the products offer they segment

markets. Strategy:Once they know which market segment they represent, they

have to make sure that the team marketing strategy addresses the

needs of their segment. Each team member is responsible for sales in

her area, and the common strategy has to include facets that address

any particular needs

Marketing Plan: developed the overall marketing strategy, each team

member is responsible for implementing a corresponding marketing

plan for the areas of his responsibility. These responsibilities include

deciding on the promotional material for his market segment and

pricing

Outcomes: achieving the targets for his market segment.

What do you mean by sales promotion?

It is the part Marketing activities to boost the sales of product or service by targeting

the trade(Targeting the distributor, retailer and whole seller and giving them

incentives , schemes, discounts, freebies, commissions) or directly to the consumer(used

to create a pull for the product and are advertised in public media to attract

attention. Maximum schemes are floated in festival times, like Diwali or Christmas.)

For Example:

A typical trade scheme on soaps would be buy a case of 12 soaps, get 1 or 2 free

- or a 8% discount scheme (1/12=8%). Such schemes are common in FMCG and

pharma industries.

Examples for Consumer sales promotion are buy soap, get diamond free; buy

biscuits, collect runs.

What are the components of a Marketing Plan?

Marketing Plan

Market

research and

analysis

Marketing and

financial goals

and objectives

Marketing

Strategy

Marketing mix

Marketing

budget

Monitoring and

evaluating market

response

Marketing plan

checklist

Contingency

plan

1. COMPANY PURPOSE1.1 PRODUCT SOLUTION

1.2 MISSION

1.3 VISION

1.4 VALUE

1.5 GOALS

2. EXTERNAL/MACRO ENVIRONMENT ANALYSIS

2.1 MARKET ANALYSIS

2.2 COMPEITITION ANALYSIS

2.3 BUYER BEHAVIOUR

2.4 ISSUE & CHALLENGES

2.5 SWOT ANALYSIS

5. MARKETING MIX TACTICS

5.1 PRODUCT

5.2 PLACE

5.3 PRICE

5.4 PROMOTION

6. GO-TO-MARKET STRATEGY

6.1 SALES & DISTRIBUTION PLAN

6.2 PRODUCTION/SOURCING PLAN

6.3 LAUNCH PLAN

6.4 IMC CAMPAIGN PLAN

3. MARKETING & FINANCIAL

OBJECTIVE3.1 MARKETING OBJECTIVES

3.2 SALES FORECAST

3.3 FINANCIAL FORECAST

3.4 FINANCIAL REQUIREMENT

3.5 RESOURSCE REQUIREMENTS

4. MARKETING STRATEGY

4.1 SEGMENTING

4.2 TARGETING

4.3 GAP ANALYSIS & DIFFERENTIATION

4.4 POSITIONING & CVP