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What is meant by marketing channels?

Once goods are manufactured, they must be transferred from their place of manufacturing(factory) to the end consumer otherwise the goods would remain idle. Marketing channels give movement to such goods and help them in reaching the right consumer at the right time and place. hey can also be called the media or vehicle through which goods reach the target market and to the end consumer. hese comprise of the various intermediaries like wholesalers, retailers, agents etc. !g. "ig "a#aar , has huge retail stores all over the nation selling household goods, garments etc for various brands . $lso, Warehousing , %nventory management, ransportation.....

&o all companies use marketing channels?

'ot necessarily all companies use marketing channels. here are some that directly market their products to consumers. !g. &ell computers ask its customers to directly login to their website , get their product configured and order the same on the internet. We also see that in case of industrial goods like raw materials, metal pieces, rods, bricks etc, goods are sold directly to the consumer which in this case is the industry itself, so there are no specific channels involved. !ven in case of perishable goods like fruits, vegetables etc which are like to e(pire within a short span of time , they are directly brought in to the local markets from village farms without any channels of distribution as such.

What role does the marketing channel really play?

a.)romotes communication * %nformation regarding the products is disseminated to the customers via the marketing intermediaries. b.%nformation provider* cutomers can provide their feedback on the product to the wholesalers and retailers who in turn provide the same to the manufacturers. c.)hysical distribution* +oods are transported and stored in the respective warehouses or godowns d.,osters relationship management* he intermediaries can identify the re-uirements of the customers and try to match the same with what he is supplying to them, thus enabling customer satisfaction.

.omment on the retail sector of today in %ndia.

here has been a significant growth in the retail sector since the past few years. his has been mainly due to factors like improvement in the standard of living of the people in %ndia, increasing availability of international brands in the %ndian market, easy access to credit facilities by banks, betterment of the infrastructure at large and increasing investment in technology as well as real estate. oday, the %ndian /etail Market is the fifth largest in the world and is estimated to grow from 012334billion in 5446 to 012736 billion by the year5489, as per industry estimates.

What are the factors to be considered before deciding upon setting up a channel?
a.0nderstanding the customer profile * the tastes,preferences, habits of the customers may differ from person to person. b.&etermining the ob:ective as to who would be the target market, whether the company wants to go for cost minimisation or not etc. c. ype of channel members *Who all would be involved? Wholesalers, retailers? d. he criteria on which the channel members would be evaluated and selected. e.;ow many intermediaries will be involved in the overall distribution?

On what criteria can channel members be evaluated for their proper selection?
he 1.).$ method can be used to evaluate channel members. a.1ales (1)* ;ow much sales each channel member can give within a cetain time frame b..ost(.)*;ow much cost would be incurred for each channel? c.)rofitability())*Which channel can give better profitability to the company? d..ontrol(.)* Whether company can have better control over its channel members or not. e.$daptability ($)* Whether the channel alternatives are fle(ible enough to any changes or not. he channel meeting the ob:ectives of the company is selected.

;ow are the channel members managed and motivated, once they are selected?
hese days channel members are being accepted by companies as their partners. he intermediaries are even being asked to integrate their business with the companies which results in lesser costs, greater efficiency and improved customer service. .orporates like $irtel are adopting )/M ()artner relationship management) software to give that added advantage to their supply chain. hey organise rewards and recognition programs for their channel partners and also organise proper channels though which partners can vent any of their grievances relating to payments, violation of codes etc.

What is 1upply chain Management? +ive an e(ample.

1upply chain management related to the flow of goods, information and fund from the supplier to consumer. "asically it is the way in which the goods pass on from the factory to the indtermediaries and then to the ultimate consumer.!g. "harti $irtel<s supply chain management has a central core team comprising of supply chain sub:ect matter e(perts as well as e(ecution teams which operate under different business divisions nationwide. "harti $irtel realised the importance of having competent partners for its better business prospects due to which its supply chain function enabled ma(imisation of mutual growth opportunities .

What are the ma:or logistics functions?

he ma:or logistics function are* a. Warehousing * 0nder this goods are stored after manufacturing till the time they are re-uired for consumption. b. %nventory management* +oods like raw materials which are re-uired for day to day operations of the business also need to be properly stored and kept track of. c. ransportation * +oods need to be transported from one place to another. hey may have to be shipped from supplier location to factory and thereafter from factory to customer.

What does the wholesaler do?

he functions of the wholesaler include* a.1elling* via their large network of retailers. b."ulk "reaking * "uying the product in large -uantities and selling them to retailers in smaller -uantitites. c.Warehousing* =ooking after the storage of the goods. d. ransportation* he wholesaler may enter into agreements with the company to transport their goods to the retailers. e..redit and risk taking* hey undertake the risk of providing credit to retailers.

What are the different types of pricing strategies for a firm?

i) redatory pricing : this is fo!!owed to e!iminate any other competitors in the market. ii) remium pricing: where the price is kept high as in case of designer items so as it increase the reputation of the product and retain its goodwi!! iii)"ost p!us pricing : here the firm simp!y adds its estimated profit to the cost to fix its se!!ing price. iv)#kimming : #kimming is a pricing strategy adopted $y firms under which goods are so!d at high prices to capture their market va!ue. v) rice discrimination: this is practiced according to different c!asses of peop!e which may$e as per their age%sex%occupation etc. &g.higher price may$e charged for higher income group for the same product which may$e charged at a !ower price for !ower income group.

're the pricing strategies of a firm !ong term or short term $ased? &xp!ain.
(epending upon the vo!ume of profits that a company has targeted%its pricing strategy may$e short or !ong term $ased. Where a company has invested heavi!y on research and deve!opment of the product and its promotion% short term pricing strategy may $e fo!!owed initia!!y in order to recover the cost of investment speedi!y% thereafter it may convert its pricing strategy to a !ong term one to sustain its $usiness operations. )or examp!e a product may $e so!d at premium price initia!!y and gradua!!y its price may$e !owered once it has captured sufficient market demand.

Who generally designs the pricing strategies and programs for a firm?
&epending upon the si#e of a firm,the pricing strategies and programs for a firm are generally designed by the marketing manager in consultation with the top level management consisting of the .!O or M& and "oard of &irectors at the board meeting.%n small si#e firms, the organisation may hire an e(ternal

consultant to design the pricing strategy for a firm. he e(ternal consultant analyses the history and current business of the firm and then accordingly advises the proprietor of the firm as to what should be the pricing strategy and how it is to be implemented.

;ow are the other )s of marketing related to the pricing program of a firm?
)roduct certainly influences the price level,higher the product -uality is high, higher the company would price it and vice versa. $gain a new product re-uires widespread promotion which leads to higher promotion costs and higher price. 1upply chain management also becomes crucial in the price determination. $ well integrated supply chain in an organisation ensures an edge which it can en:oy over the others.

!numerate the steps involved in designing a pricing strategy for a business firm.
i. &etermining the ob:ective of price determination. ii. &eterming the level of demand for the product. iii.!stimating the costs. iv. $nalysing competitor<s cost. v.&eterming what pricing method to use vi.1elect the price

What are the factors to be kept in mind while designing the pricing strategy for a firm?
We need to analyse factors like* 8. Who is the target market? 5. Whether the product has been doing well in the market or not. 3. ime frame> whether % intend to earn profits in the short run or long run. ?. Which category the product belongs to? (necessity,comfort or lu(ury) 9. What pricing strategy the rival firms are using? 1o to analyse these factors an indepth market research maybe re-uired before designing the pricing strategy.

!(plain skimming as a pricing strategy with e(amples.

1kimming is a pricing strategy adopted by firms under which goods are sold at high prices to capture their market value. !(ample electronic goods like =.& @ . he purpose of such strategy is to mint higher profits within the short run period in order to recover the costs incurred in product researching ,manufacturing, marketing etc as such costs associated with the product are high. ;owever this strategy

carries with it the risk of acceptance of the product in the market as other competitors may tend to lower their price range of the same product thereby forfeiting a large part of the market share.

+ive an e(ample of any firm that has implemented pricing strategy during the launch of a new product in the market and answer the following related to it

a. Which type of pricing strategy did the firm use and why?
'okia used the skimming price strategy when it introduced the 8844 handset in the %ndian market priced at /s.9544. his was done in order to regain its / A & and promotion cost. $s the sales gained momentum, the price of the product was lowered down to /s.3B44 in the market.

b. Was it successful in the market or not? Give reasons.

Ces it gained huge success in the market. $part from the pricing strategy, 'okia<s promotional strategy was also well implemented on account of its widespread advertising using celebrity endorsements which added to its popularity in the market.

;ow do buyers respond to price changes?

&epending upon the increase or decrease in price rates, buyers may respond accordingly. 1ome buyers may assume that -uality of the product may have reduced to to reduction in price or that the company may not be selling the product as per e(pectations. he other assumption that buyers may make is that prices may go down in the future and so may delay purchase. On the other hand increased price may lead to a decrease in demand as the product may be more costly for the consumers who may switch to another seller offering similar products at lower prices.

;ow do sellers respond to price changes of their competitors?

%n the light of competition, it may be seen that competitors may initiate price changes. %f the cutting off on prices does not affect the company, then the current pricing strategy itself can be continued to maintain the profitability of the company. ;owever if the price change on one firm is affecting the other, then it can* a.reduce the product price at par with competitors< price or below competitors< price or b. )rovide added advantage to the e(isting product like better -uality, or Da buy one get one free< offer. or c.)rovide better -uality of the product at a higher price thereby not being at par with the competitors.

What is monopoly? !(plain with an e(ample.

$ monopolistic market is one which is characterised by the presence of only a single seller which may happen on account of certain market barriers like regulatory, technical or economic barriers. he monopolist can fi( the price rate at his discretion as there are no other competitors. !g. he %ndian /ailways in %ndia has been e(ercising monopoly over the railway industry. his type of market is generally seen to be controlled by the government and is a prominent feature of the socialist economy which prevailed a while ago in 011/ and the Middle>!ast.

What is Oligopoly? +ive some e(amples of oligopolistic markets.

%n an oligopolistic market, a few suppliers control the market by not allowing any new entrants to the market. $ change in price by one supplier in the market will generate instant response by the other supplier who will also tend to change his price. 1o in this market, there is a high level of dependency amongst suppliers on one another. !(amples of such markets maybe the automobile manufacturers or pharmaceutical industry which are generally price sensitive by nature.

What is promotion (in marketing) according to you?

here is an %ndian saying , DEo dikhta hai, wo bikta hai<. (What is seen is what sells). %n today<s fast moving world of glit# and glamour, products have become the face of the company. he brand image of a company that it carries with it depends largely upon the kind of product or service the company is dealing with. $ good enough product with the best distribution channels and affordable prices may still fail to capture the market if it has not been well or clearly communicated to the target customers. )romotion is communicating about our products or service to the masses. %t is one of the essential elements of the marketing mi( without which gives that face or impression to the people at large about that company brand.

What does the promotion mi( comprise of?

he promotion mi( is a combination of advertising, sales promotion,public relation, personal selling and direct marketing which a company uses to promote its products. 1o it becomes an important task for the marketer to properly list out the promotion mi( strategies and its benefits. %t is like the ingredients that go into the making of any particular dish. he -uality of the dish depends upon the way in which the ingredients have been used and mi(ed. 1imilarly, an organi#ation must have an ideal promotion mi( by which it should be able to promote its products to the masses.

What are the ob:ectives of promotion?

a. $wareness* particularly when a product is new to the market, it must be known to the consumers that such a product e(ists in the market. )romotion helps there. b.Fnowledge* one gets to know the advantages of the product via promotion. c.=iking and desire* even those who may not have a desire for the product, promotion helps to create that desire and liking for the product by using strategies like celebrity endorsements etc. d.)urchase* by promoting affordably priced products, the marketer can easily attract a large number of customers who would prefer such products over high priced ones.

What is publicity?What is the difference between promotion and publicity?

)ublicity is about getting others to know more about your organi#ation and its business. %ts ob:ective is to gain more name and fame in the public. )romotion is much more vast in scope as compared to publicity which is :ust one aspect of promotion. here are other areas in promotion apart from publicity, which includes advertising, sales promotion,public relation, personal selling and direct marketing as well. !g. %f a film is to be promoted, film producers would use all of these tools both before and after its release and for publici#ing it, it would use publicity stunts much before the film gets released.

&o you know about %M. in promotions?

Ces. %M. or integrated marketing communication is the bu##word these days. 0nder this concept, all the elements of marketing communication are made to work together in order to achieve sales ma(imi#ation as well as cost effectiveness of a product. $ll the elements including advertising, sales promotion,public relation, personal selling and direct marketing are integrated in such a way that they do not work at all in isolation, thereby contributing to a common goal. With the advent of speciali#ed media vehicles, internet marketing and retailer dominated market, %M. has gained immense popularity among the corporate.

;ow would you promote our company<s product (say G) if given a chance?
,irst of all % would identify the target market for the product. %f at all the target market e(ists then identify if any other prospective target market could be there apart from the e(isting one. % would approach a celebrity to endorse it (Mention name of celebrity like mr so and so depending upon the product like if it is a health drink then a sportsperson, if it is a cosmetic ,then filmstar, reason for selecting the celebrity maybe mentioned). % would also organi#e roadshows to publici#e the product and approach the media as well. $s they say D.harity begins at ;ome< , so % would spread the word about the company product(name the product) to my family and friends and recommend them to use it. hat would be a simple Dword of mouth< promotion.(this line can be answered with a slight smiling e(pression).

;mmH. but what about the budget? We want our promotional campaigns to be cost effective enough. % don<t think we can afford celebrity endorsements as of nowI
'o problem. We can use network marketing as an alternative. he company already has its strong network of customers who can spread the word about its products. hey can encourage referral rewards for say every three customers who will buy our product or avail our service. We can also announce a contest for the customers to buy the product and win a chance to get himself broadcasted for the product advertisement. We can ask them to send in their photo along with the contest application form which they get alongwith the product they buy. 1o we don<t have to pay them as we would otherwise have to pay to a celebrity.

What is the difference between a marketing mi( and a promotional mi(?

$ marketing mi( and a promotional mi( does have some differences, both being highly crucial for the success of a business. Marketing is very essential for the growth and continuity of business operations. %t helps in creating new customers and retaining the e(isting ones to keep the business ongoing. Marketing focuses on all the elements of the marketing mi( vi# product, price, place and promotion while promotion focuses more on the customer> how to reach a product to its customers and how to sell it to them ultimately.

;ow or on what basis is the profile of the target customer prepared?

%t may be prepared on the following criteria* a. ype of customer* whether individual or group. b. %ncome * whether he belongs to the upper class, upper middle class, lower middle class or lower class. c. Media e(posure * print media like newspapers, maga#ines, :ournals or audio visual like @, radio, street hoardings etc. d.Occupation * whether he is into service or business.

What is direct marketing? +ive some e(amples.

%n direct marketing, there is a direct interaction of the customers with the seller without any intermediaries. ;ere, the role of the intermediaries is nil. he medium used is more direct using telephone, mail, internet where the seller can directly reach out to the consumer. !(amples of such marketing include telemarketing, email, voicemail marketing, door>to>door selling etc. his kind of marketing is more time saving as the problem of distance which may otherwise e(ist between the buyer and seller is eliminated and is also cost effective as it minimi#es commuting costs.

;ave you heard about E>%> in logistics management?

Ces. E>%> or :ust in time is a strategy of production. %t aims at fostering continous improvement in production and can help in the betterment of a manufacturing unit<s return on investment,-uality and efficiency. his can be brought about by smooth flow of operations, greater involvement of employees and better -uality products. his process is based on the Eapanese concept of Fanban which informs the system of production when to move on to the ne(t step in the process after completion of one step. Fanban can be in t he form of visual signals eg.an empty shelf or a filled shelf in a factory which indicates the ne(t step. E>%> ensures production and delivery of goods :ust in time without any delay or gap between one process and another one.

Why is logistics management important for an organisation?

,or a business, being able to provide the right product at the right place and in the right time could be a challenging task. "etter storage and transportation facilities are being developed or outsourced by marketing managers to make goods available to the customers or rather ensure timely delivery of the goods and services to customers. o achieve this, it becomes increasingly important to keep track of the goods starting from its :ourney from the factory right upto the hands of the consumer. hus, in the modern marketing era, the study of movement of goods or logistic management becomes an important sub:ect in -uestion.

.an wholesalers also be classified into certain categories?

Ces. Wholesalers may be classified into merchant wholesalers and brokers and agents. Merchant wholesalers independently own and undertake the risk of title to the goods. "rokers and agents however do not take the title of goods and their functions are limited. "rokers have good knowledge about the buyer and seller and act as the link between them, helping in bringing about negotiation between the two parties. $gents act as representatives to the company, retailer or customer on a permanent basis

What is wholesaling ? What is the scenario of wholesaling in the %ndian market?

Wholesaling involves buying goods in bulk from the manufacturer and selling them to another buyer( generally the retailer) for resale or business purpose. Wholesale trading , since pre>independence era has been dominated by the %ndian trading community.;owever, as of now, we also have foreign investors in the wholesale trade scenario who have been showing a keen interest in this area of business. hese companies are entering the %ndian market as trading firms and sourcing and selling domestically. hey are giving our domestic traders a tough competitionI !g. 1harp .orporation of Eapan which has a manufacturing base in %ndia are into trading color @s from other manufacturers as well.

What are the different types of retailing?

"asically, retailing can be categorised into store retailing and non store retailing. %n the store retailing, the essence of a store in a particular location is taken into consideration, to sell the products. hey can be performed in different formats like speciality store,department store, supermarkets, convenience stores, discount store, off price retailers,super stores. On the other hand, non store retailing deals in selling products through the use of electronic media or direct selling medium !(ample *direct selling, telemarketing,automatic vending or online retailing.

What are the functions of retailing?

he functions of retailing include * a.1orting * he items are arranged in order by the retailers so that the customers are able to locate and pick up their needed goods easily. b.1torage* he retailer holds stocks of goods and thereby meets the day>to>day needs of the consumer. c..hannels of communication* he retailer spreads by word>of>mouth communication, valuable information to the customers about the product. d. ransportation* 'owadays, small grocery stores are undertaking the work of door deliver orders in case of durable goods.

What are the essential characteristics of retailing?

a.&irect interaction with customers* he retailer acts as the final link between the organisation and its customer. he retailer knows his customer better than anyone. ;e even suggests the customer what to purchase and allows him credit facilities to encourage fre-uent buying behaviour in the customer. b.1mall purchases* he customer purchases goods in small lots from the retail stores. 1o there are fre-uent visits to the retail store by the customer. c.%nstrument of marketing communication* via which information about the product is disseminated to the needy customers.

What are the different modes used to perform the logistics function?
he different modes used are* a.$ir transportation * his enables -uick delivery particularly useful in case of perishable commodities. b.Water transportation* %t involves ocean liners and ships. hough slow, it is a cost effective mode of transportation. c.1urface transportation* ;ighway transportation and railway transportation are the different modes used under this. d.)ipelines* )roducts like oil and natural gas use this mode . e.%nternet carriers* 0nder this, satellite enabled modem or telephone wires are used to carry digital products from producer to consumer.

&oes logistics management and supply chain management mean the same thing?
'o. =ogistics is actually a part of supply chain management. 1upply chain management involves other activities like coordinating as well as collaborating with both customers and suppliers, matching the demand with the supply,flow of products, services, information, and finances while logistics management entails the movement and storage of products and services to add value via transformation of time and place. $s such logistics is more about being able to look into the facilities, transportation, inventory, materials, order fulfillment, communications, third>party relations, and information within the firm thereby creating competitive advantage through value addition to customers.

What is logistics management?

=ogistics management involves movement of products and materials from the suppliers to the factory where manufacturing takes place and then from the factory to the resellers and to customers. %t may be categorised into* inbound and outbound logistics. When the goods move from the suppliers to the factory , it is known as inbound logistics while if the goods move from the factory to other customers it is known as outbound logistics. his field which studies the flow of goods and information from suppliers to consumers is nowadays popularly known as supply chain management.

What according to you is sales promotion?

We can say that sales promotion is a cost effective techni-ue by which an organisation can achieve its sales volume or the marketing ob:ectives by providing value added product and not :ust an ordinary product to the end user or even the intermediaries. %t is short term by nature and is suitable enough for generating sales within a short span of time. 1ales promotion techni-ues are being increasingly used by retailing organisations some of which include advertising, providing discounts and allowances or a Jbuy one get one free offerJ etc.

What is public relations?

)ublic relations or )/ is basically about managing the communication> both internal and e(ternal to an organisation, in order to create and retain the goodwill or reputation of the company and its business that it is into. %t entails highlighting the achievements of the company, keeping the public informed or updating them regarding any changes or new things happening with the company, maintaining relationships with the investors , participating in charitable causes etc. "usiness is a part and parcel of the society within which it functions, hence arises the role of public relations.

What role does )/ play in marketing communications?

)/ establishes the rapport between the organisation and the local community and also the organisationJs investors. $ company which has a strong image among social groups can easily advertise through word of mouth. $ny issues or misconcepts regarding the company and its products can be minimised via )/. )/ also publici#es a companyJs products . !(ample, when .adbury was confronted with the chocolate worm controversy, or during the pesticide issue faced by the M'. giant .oca .ola, it was the the )/ of the company helped it to sail through.

What are the different methods of )/?

$ good )/ can be established in the following ways * a.=obby groups* hese groups play a crucial role in influencing the government policy, corporate policy or public opinion. b.Organising press conferences to attract media and customers. c.0se of eye catching written and audio visual media to reach out to the masses. d.!ngaging in socially responsible activities like environment protection, cleaning drive etc. e.Organising roadshows, workshops, seminars etc.

What is pubilicity?
)ublicity is an act of making known to the media which includes @, radio, news reporters or :ournalist , film makers etc. , about the company and its products and asking them to disseminate such information to the masses. %n addition to this, publicity may include any such information meant to attract public attention towards a company>its products, its people or any event via a third party which may include the media.)ublicity may or may not be a part of )/ depending upon the circumstances. %t may have positive or even negative conse-uences.

!(amples of publicity include organising events, contests, e(hibitions, tours, sponsoring awards, scholarships etc.

;ow do organisations deal with bad publicity?

)ublicity may turn out to be positive or negative. 'egative publicity can be dealt with in the following ways* a.+iving the correct information and clarifying any doubts if re-uired through press release, media interviews, advertising, websites etc. b.$ctive involvement of the companyJs top management or spokesperson in giving public statement or comment in the various media. c./edesigning a good publicity message to eliminate the ill effects of bad publicity. d.%nvolvement in socially responsible activities like community work or environmental protection campaigns.

s per the %ndian market, what are the different sales promotion methods?
here are three different kinds of tools used in sales promotion * a..onsumer promotion tools* which are directly targeted to the end consumer stimulating interest among them to purchase the products instantly. !g. )rice reduction, contests, Jbuy one get one freeJ offer on products, e(change offers etc. b. rade promotion tools* hese motivate selling of the product and brand promotion for the wholesalers and retailers such as discounts offeed by the manufacturers and allowances provides to the channel managers. c."usiness promotion tools* which help in lead generation, provide rewards to cutomers and motivate salespeople to sell more and more.

What is advertising?
$dvertising is a paid form of non personal communication and promotion of ideas, goods or services by a company which sponsors it. %t is a part of the promotion mi( and is one of the most widely used form of communication. On account of its wider reach to the masses and greater influential power to influence the masses, advertisements have been and are gaining immense popularity as a suitable medium of e(pression of information about any companyJs products and services. .elebrity endorsements, user testimonials etc. are some of the commonly used tactics to advertise a companyJs products and thereby increase sales volume rapidly.

What is institutional advertising?

1ometimes organisations aim at enhancing the image of the company. hey focus more on the brand image than selling of the product. 1uch advertising covers all the products or services of the company under a single brand name. his is known as institutional advertising. !g.W%)/O has been using Japplying thoughtJ for all of its business , thereby promoting the company as well.Other companies which have been using institutional advertising include J "ritish $irwaysJ, J;yatt +roupJ, % . and so on.

What are the different types of product adverising?

a.)ioneer advertising* his is used in the starting phase of a product life cycle .!g. $ $ &ocomo which initially advertised as to why a person should pay for the unused minutes, when talks may last for seconds.

b..ompetitive advertisements* %n the growth phase of the product life cycle, an organisation may have different product lines , so to highlight the differences between them, competitive advertisements are used. c..omparative advertisements* When the sales volume of a product starts to decline, or competition is high,comparative advertisements are used. )epsi and .oca>cola used this type of advertising at one point of time.

On what basis are advertisement media selected?

$dvertising media can be selected keeping in mind the following* a.One should assess the target customers who are to view the advertisement. b. he number of times the target customer is likely to come across the advertisement. c. he impact that the advertisement message is likely to have upon the target audience. d. he habits,tastes and preferences of the target customers.

;ow can you say if an advertisement has been effective enough or not?
%t is important to know whether an advertisement has been effective at all or not.We can evaluate the effectiveness of an advertisement through the following ways* a.recognition method* showing the people an advertisement and asking them if they have seen it before. b.aided recall* asking people to recall any brand that they may have or might want to use. c.unaided recall* asking people if they can remember seeing any ads within an identified product category.

Which are the two popular forms of print media?

'ewspapers and maga#ines. 'ewspapers have been dominating the local markets since its very inception particularly though its classified advertisements. hey offer fle(ibility to the readers and provide added support in promotion as well as research related function relating to a product or service. Maga#ines are broadly categorised into consumer maga#ines and business maga#ines which may be further subdivided into monthly and weekly publications. hey also offer wide reach to the masses. he fashion industry mostly uses this form of media to promote their garments and cosmetics and other accessories.

What are the different types of media used in advertising?

he ma:or media generally used by companies for advertising their product are* %."roadcast media* comprising of radio and television. %%.)rint media* comprising of newspapers and maga#ines. %%%.Outdoor advertising * which is done though billboards, displays ,electric boards and has often been protested by environmentalists. 1uch advertisements may also be seen in buses and moving vehicles. %@.Online advertising * via emails etc. @.Other media * like movie halls, in flight commercials, yellow pages, pamphlets etc.

What should be kept in mind while developing the message for an advertisement?
a. he message should be developed only after the target profile has been completely created. b. he interests of the target customers also must taken into consideration. c. he ob:ectives of the advertisement program shoule be answered by the message.

d. he message should be such that it should be easily understood by the viewers and should contain clarity. e.More of interactive communication tools should be used while developing the message.

&iscuss the factors that influence the advertisement budget decisions.

8.1tage of the product in the product life cycle* he company has to invest more at the time the product is newly introduced in the market as at this stage the consumers have to be informed about the product as they are totally unaware about the e(istence of the new product in the market. $t a late stage when the product gains popularity, it can cut down the costs of advertising. 5. he market share of the company* %f the company en:oys a high market share, it can spend on widespread advertising while if it is low, but the market holds good prospects, the organisation can still spend heavily on advertisement.

What are the ob:ectives of advertising?

here are many ob:ectives of advertising. hey are* a. o create awareness about the product among the consumers. b. o generate new or greater interest levels in a product of which the individual may not have shown an interest before. c. o inform more about the product to others. d. o stimulate purchase habits among the buyers of the product. e. o reinforce the product in the consumersJ mind so that he gets reminded about purchasing the product which he would otherwise not have purchased.

What is $%&$ approach?

$fter deciding upon the ob:ectives of communication, the marketer begins to focus on developing the right message which should ideally aim at creating attention, interest, desire and action ($%&$) for the customer. )rior to deciding the contents of the advertising message, a thorough understanding of the $%&$ model is re-uired. he main ob:ective of a message should be to meet the re-uirements of the $%&$ model even though the message may be limited by the product category to which it belongs, the ad budget and the creativity of the individuals involved in designing the message.

%n the $%&$ model, what does each of the letters stand for? !(plain.
a.$ttention* he marketing communication should be able to catch the attention of its customers.,or eg.when a popular filmstar or sportstar endorses a particular brand of soap or health drink, it immediately captures the attention of the audience. b.%nterest* Once the marketing communication has grabbed enough attention of the customers, it should be stimulated by the organisation to create further interest. c.&esire * a product in order to get sold must be backed by the willingness to purchase it. he interest developed by the consumer should be forced upon his mind so that he develops a desire towards the product. d.$ction* &esires can be converted into action by the company higlighting the advantages of the product to its customers, in their communication messages.

What kind of appeal should the advertising message contain?

he advertisement can have two main types of appeal* a.!motional appeal * )ositive emotional appeals like love, pride, :oy and humor maybe used in the message while negative emotions like fear,guilt,shame maybe communicated across in the advertisement to attract the attention of the customer. b.Moral appeal* 1uch advertisements focus upon public health or environment or social responsibility. !g.

.igarettes or pan masalas advertise their products with a statutory warning highlighting the moral appeal to show their genuine concern for the consumers.

What is direct marketing?

When an organisation conducts its marketing activities particularly sale of goods to its customers directly it is called direct marketing. he final products are sold to the final consumer directly by the company , and immediate or early response from the consumer is e(pected. his type of marketing is also known as "5. marketing. !g.direct door to door sales made by the salesman. his type of marketing involves direct communication with the customer and is found to be time saving and a cost effective method of selling.

What is online marketing? +ive e(amples.

Online marketing is the e(change of products and services between the buyers and sellers on the internet.%t is also known as e>marketing or internet marketing or online advertising. %t may take the form of a."5. where the products are sold directly to the customers. b."5" where trading networks or auction sites maybe used to reach out to the new customers and serve the e(isting one c..5. where one customer may further sell the product to another customer. !(amples of online marketing may include banner ads, blogs, social network advertisement.

What are the different types of online marketing?

he different types of online marketing are as follows* K &isplay advertising* ;ere the advertisements are displayed on some websites in the form of banners or blogs are used. K 1earch engine optimi#ation (1!O)* it helps to make the web page or website more noticeable via the use of search engines like +oogle. K 1ocial media marketing*here the marketing is done through social networking sites such as ,acebook, witter and =inked%n K !mail marketing* in which electronic mail is used as a medium of marketing K /eferral marketing* in which customer referrals are used to promote the products and services of the company.

What are the advantages of online advertising over traditional advertising?

Online advertising is less costlier as compared to traditional advertising..ompanies can have access to a wider customer base at lesser costs. .onsumers find it easier to research on the product and purchase them at :ust one click of the mouse sitting in the convenience of their homes. hey do not have to run from pillar to post for purchasing a particular product. hey can avail their much needed products instantly without any delays. he results of online advertising can also be measured instantly via the number of website visits, number of clicks on an advertisement. hus the advertisement statistics can be measured easily in a cost effective manner.

What are the problems faced in online marketing?

Online marketing also brings with it disadvantages some of which are as follows* a.$uthenticity* the authenticity of the product maybe -uestionable, as the real product is not available at the time of its purchase. he product may not turn out as e(pected by the customers. ;owever, sites like Eabong.com or Myntra.com , keeping this point in view are offering its customers the option to return the product if they are dissatisfied with it after a trial. his has increased the goodwill and popularity of such sites.

b.%nternet marketing scams * ,ake schemes like Dget>rich>-uick< or Dwin cash pri#e< on the internet, often lure the users to payout huge sums of money to such frauds and not gettomg anything in return. %t has given rise to a lot of scams and fraudulent activities detrimental to the users. c.1ecurity issues* .onsumers maybe hesitant to disclose their personal information on the internet as they may feel the invasion of their privacy.

What are the different forms of social network advertising?

1ocial network advertising takes place through different social network sites like ,acebook, witter etc. he different forms of social network advertising are* a.$dvertising to one<s group of friends within his network itself* sending advertising messages directly to his inbo( about any product. b.&isplay of attractive banners or bo(es directly on the webpage of the social networking sites. c..reating a fanpage or group asking users to :oin such groups to create and spread the brand awareness about a particular product.

What are the different methods of direct marketing?

a.&irect mail* his is the most common means of direct marketing.0nder this direct postal mails are sent to the consumers< address eg. .redit card application forms sent by banks, free trial packs of products sent by companies, subscription offers for maga#ines etc. b. elephone marketing* @ia call centers products are also sold over telephone. %t is also known as telemarketing. c..atalogue marketing* )rint,video or electronic catalogues maybe sent to customers. d.Online marketing* he organi#ation<s products are marketed on the virtual medium through company websites and emails

+ive some benefits of direct marketing.

a..ost effectiveness* he costs of paying to the intermediaries is eliminated due to their absence. b.$lternative uses* apart from selling, direct marketing can be used to test new markets, offer rewards to customers, or even for market segmentation. c. he results of direct marketing are easier to measure as we know how many people have been directly contacted in the first place. d./elationship building* it helps in building a rapport with the customers as a direct relationship is established with them and they can avail authentic information about a product or service without any manipulations.

What is Dkiosk marketing<?

Fiosks are machines kept in shopping malls and other such places by organi#ations to spread the information and generate orders from customers who visit such malls.!g. $mbi )ur , a perfume company dealing in room fresheners recently organi#ed a marketing campaign in the 'irmal lifestyle, Mumbai. he company used inflatables to attract small boys. he kiosk attracted a lot of parents who came in with their children and stopped by the kiosk and got information about the company. he ob:ective of the campaign was to create awareness about the product among the target consumers, mainly the households.

What does monitoring and controlling marketing activities entail?

$ll those activities which have been planned out by the marketing department must be tried out in the market several times in order to be able to conclude if such activities are worthwhile or not. 1uch activities may be repeated several times over a period say si( months or a year in order to be able to decide whether to stick to them or replace them with other better alternatives. Monitoring and controlling the

marketing activities entails keeping proper records of the various activities and tracking them time and again particularly when it comes to the media, when to promote the product, cost factor, reach or the number of persons towards whom the promotions have been targeted, responses generated, sales generation and return on sales.

;ow can we evaluate the effectiveness of marketing initiatives undertaken by the marketing manager?
We can evaluate it on the basis of* a.!(ternal factors* like the economic and social environment, the competitors, the government policies (whether compatible to all of these or not) b..ost benefits* whether the organisation is obtaining ma(imum profits at the minimum cost or not. c.,eedback * whether the feedback systems of the company are reliable enough or not. !g. %f a particular email generated response from a large number of customers it is a sign of a sound feedback system. d.=ong term oriented* the marketing initiatives undertaken by the marketing manager should be long term oriented and should not cater to the organisation and its customers :ust for the short run. his is essential for the continuity and survival of the organisation<s business.

What is profitability control?

)rofitability control is a mechanism of monitoring the sales made, profits earned and e(penditure incurred by a company. he relative profit earning capacity of a firm<s products and consumer groups can be determined via profitability control. 1ometimes surpisingly, it may be found out by companies how a small proportion of their products and even customers actually account for a significant percentage of the company<s profits. his can be achieved through profitability control. $t times when the companies earn surplus profits, then such profits may even be ploughed back or reinvested. his also forms part of profitability control.

What is annual plan control? Why is it needed in an organisation?

he annual plan control is one of the four types of marketing control system. $nnual plan control is essential in order to determine whether all the marketing efforts undertaken by the organisation has been really worthwhile or not. %t aims to achieve sales volume,profits and all those ob:ectives which have been set up in the beginning of the year. %n an organisation,the top management and middle level management are responsible for the annual plan control. hey have to keep a check on the activities undertaken to implement the plans.

;ow can an organisation achieve efficiency of its sales force?

%n order to have an efficient sales force, an the sales managers should monitor the functioning of the the sales team particularly in the following areas* 8. he average number of calls salesman make during the day or number of prospects contacted directly by visits per day. 5. he average time taken per contact by each salesman for every sales visit made by him. 3. he average revenue generated by per sales finalised. ?. he average cost per sales call made. 9. )ercentage of orders generated per 844 sales approach made. 7. he number of new customers created within a particular time period. 6. he number of lost customers per period. B. he cost incurred on the sales force cost to the percentage of total sales made.

Who controls the marketing efficiency of an organisation?

+enerally marketing controllers are assigned by organisations to look into its marketing efficiency. hey are specialised in the marketing field and provide e(pertise in controlling the marketing efficiency. !g. %n case of companies +eneral ,oods, &u)ont, and Eohnson A Eohnson, these marketing controllers conduct the financial analysis of all such marketing e(penditures incurred and present their findings to the organisation. hey check the profit plans of the company, guide in preparing the budgets relating to marketing, evaluate the effectiveness of promotional campaigns conducted, evaluate customer profitability and further guide and inform the marketing personnel about how and what type of marketing decisions to take depending upon the situation.

;ow can advertising efficiency be measured?

Managers can keep track of their advertising efficiency in the following areas* a.$dvertising costs incurred per hundred target customers . b. he percentage of audience who viewed or noticed or associated and read the advertisement or listened to it (depending upon the medium) c.Opinions of the consumers on the advertisement * how they found it. Obtaining their feedback whether positive or negative. d.)urchase response of the consumers after coming across the ad. e. %n-uiries generated by the add* (how many and how fre-uent).

What is strategic control?

1trategic control is a system by which the organisation can find out how effective organisational strategies have been> whether they have been implemented or not . his can be achieved by careful analysis, tracking and evaluating the strategies so formulated by the organisation. he workplace, employees>their activities, productivity etc are carefully observed and their progress is reviewed from time to time in order to detect the faulty areas and rectify them on time. $ny corrective action should be taken immediately for the strategic control system to be effective.

What role does strategic control play in marketing?

he various marketing efforts made by an organisation on advertising, sales promotion, distribution etc. must be evaluated to know whether such efforts have been effective at all or not. 1trategic control is one such type of marketing control system which companies use to assess their marketing activities. %t helps to match the organisation<s marketing strategies with that of the market needs and demands. On account of the rapidly changing market environment and the changing demands, preferences, habits and lifestyle of the consumers, the organisation needs to adapt itself to such changes if it is to survive and continue its business in such environment. ,or this purpose, the marketing strategies and programs must be reviewed from time to time. his can be achieved via marketing audit system which is a part of marketing control.

What are the areas covered under marketing audit?

Marketing audit consists of two key areas>internal and e(ternal audit. he %nternal marketing audit gives an insight into the following aspects of the organisation* a. he organisation whether it is feasible or not . b.Operating organisational structure L how does it operate and does it work? c.1ystems Lthe efficiency of the planning system he e(ternal marketing audit focuses on researching and identifying the future prospects of the company and also finding out the threats and opportunities if any. %t also helps to detect any deviations from the original plan and how they can be rectified.

;ow is the organisational structure of the marketing department in an organisation devised?

he organisational structure of the marketing department depends upon the si#e of the organisation. 1mall si#e firms may :ust have one or two marketing employees while large si#e firms may have several marketing employees. he marketing department may generally comprise of * a. he @ice )resident of marketing* who is responsible for the functioning of the entire marketing department and to whom other marketing employees are accountable. b. Marketing manager * who formulates the marketing strategies and reports to the vice president of marketing. Other marketing employees may report to him. c. Market researchers* who research on the product and present their information on their findings to the company. d. )ublic relations officers * who act as the spokesperson and the liason between the company and outsiders.

What role does the marketing department play in an organisation?

he marketing department is the life>blood of any organisation without which it is impossible for the organisation to survive. he other departments like human resources, finance, information technology are also very much dependent upon the marketing department for their e(istence. he marketing department acts as the Dface< of the organisation and gives an identity to it. %t plays a crucial role in generating sales and revenue to the organisation via its different activities like advertising, promotion,distribution, research . %t build up the image for the company and thus helps in reaching out to the prospective customers and the target market.

$s a consultant, what advice would you give a company while setting up its marketing department?
$s a consultant , % would* K /ecommend structuring of the marketing department as per the demands of the different tasks, roles and responsibilities keeping in mind the cost(budget) factor as long as it fits within the budget of the company. K ,inding out and establishing the level of skills, duties and responsibilities of the employees via :ob descriptions and :ob specifications. K )roper and regular supervision of the department to ensure its smooth functioning K &etermine the marketing functions of the department as per the re-uirements (advertising,distribution channels,promotional activities)

/ecommend some ways to ensure the health and smooth functioning of the marketing department for an organisation.
a.!-uipping marketers with e(tra skills by enrolling them in specialised courses or providing training to upgrade their skills. b.)roviding counselling sessions for the marketers to keep their morale high. c.Motivating salepeople by providing e(tra incentives, bonus, rewards for high performers etc. d."ridging any communication gap that may e(ist among the team members or among the superior and subordinates. e..oordination with other departments of the organisation like ;/, ,inance etc to ensure that they are getting the right information needed to perform their tasks.

What steps can be taken to organise a marketing team?

a. 1et the ob:ectives* why the team is being formed? ;ow much revenues need to be generated? &etermining the sales target. b.&efining team structure and their roles* what should be the role of each member? What structure should be followed to determine the ob:ectives? c..hecking the skills and capabilities of the team members , if they fit into their roles or not and if any e(tra training or

coaching is re-uired or not for the team. d.%mplementation* communicating the ob:ectives to all the team members and seeing to it that the necessary action is being taken for arriving at those ob:ectives.

What are the duties and responsibilities of the marketing manager?

a..onducting market research in order to gain an insight into the market environment, competitors and consumers. b.Marketing planning * based on the ob:ectives of the company, deciding the marketing strategies. c.)ersonnel management* supervising the activities of the marketing personnel and seeing to their problems and grievences and solving them. d.Managing the advertising and other promotional events of the company . e. .oordination* coordinating with the other departments of the company like finance, ;/ etc. to keep the department aware of what is happening in the other departments as well.

;ow is a marketing plan set up?

)lanning is a process. $ marketing plan starts by a thorough analysis of the market L who are the prospective customers including past, present and future customers, what potential the product holds in the market. hen the ne(t part included the testing of the company<s market position>where it stands in the market? he plan must also include the pricing strategy, the packaging , how the product will be promoted. $nother important part of the plan should entail the budget and the how the funds would be allocated to activities like advertising, promotion ,public relations etc. he plans so formulated must be reviewed from time to time say annually or half>yearly in order to detect any errors in the plan and rectify them on time.

What is the meaning of marketing organisation? !(plain.

%n an organisation, the sales planning and sales policies are formulated on the basis of marketing organisation. %t ensures the smooth and systematic implementation of plans,policies and programs which are much needed for the control of sales activities so as to ma(imi#e the efficiency and profitability . %t also brings about innovative and better methods of distribution and helps to meet the increasing production capacity. %t also e-uips the organisation with the necessary tools to counteract competition. Marketing organisation structures the organisation in such a way that brings about improvement in customer services and their satisfaction.

What is sales management?

,or an organisation, at the end of the day, the product must be sold. 'o sales means no profits and no profits means no businessI 1o this in turn depends upon the -uality of the sales force. he sales force of an organisation needs to be properly selected, trained, developed and managed so as to be able to reach out to and gain a wider customer base and to retain the e(isting customers. his activity relating to the sales force is known as sales management. 1ales management entails deciding upon the sales territory, determing the composition og the sales force and sales organisation.

What are the key aspects of sales management?

he key aspects of sales management are* a.&eciding the sales territory* his allocates the sales -uota for the individual sales e(ecutive and defines his boundary within which he is to work. hus the conflict between two sales e(ecutive is also avoided. b.&etermining the si#e of the sales force* his depends upon the si#e of the target market. $ccordingly the activities that the sales e(ecutive has to perform is listed out and the time taken for such activities is also estimated. he number of calls that he may have to make at a certain point of time is also analysed. ,inally the number of the sales force is decided upon.

,or a new salesperson, what are his training needs?

'ew salespersons needs* a. ;e needs to know the information on company history, its policies, rules and regulations etc. b.&etails about the product> its features, usage , demand. c.1ystems and procedures as followed by the company. his may include the work timings, overimed, field work, work culture of that particular organisation etc.

d. raining on the basic ethics that need to be followed while selling a product. e.;e must know the basics of selling the different products of the company.

,or a regular saleperson who is not new to the company, what are his training needs?
,or regular salespersons, the need may arise on account of* a.$ny changes arising on account of the changes in the policies or working methods of the organisation. b.$ny important facts about the new and upcoming products of the company. c. he future prospects of the company> if it has any upcoming plans like e(pansion or diversification etc. d.!(tra knowledge which may be re-uired in case of delegation of work or assigning responsibitlities to others. e.1upervision knowledge needed when there may be others working under the salesperson.

What is sales -uota? !(plain.

he sales e(ecutives are given certain targets to be fulfilled within a given period of time. his is called sales -uota. he sales -uota so fi(ed can vary according to the organisation ob:ectives. hey may be assigned a certain volume of goods say 7444 units in a year or /s.?4,444 worth of goods within the ne(t 7 months. 1ometimes the -uotas maybe fi(ed on the basis of the profit margin rather than the volume, then it is known as profit -uotas.;ere, the company asks the sales e(ecutives to try to ma(imi#e the profit margin that they get out of every sale they make.

;ow can the sales e(ecutives be compensated?

he sales e(ecutives can be compensated via three methods* a.&irect 1alary * where a fi(ed amount of salary is paid to the sales e(ecutives on a monthly basis. b.&irect commission* where the salesmen get only commission on every sale they make. !g.life insurance agents of companies like =.%.. are paid on commission basis. c..ombined plans* in this method, there is a combination of straight salary and straight commission, so the salesperson gets to en:oy both. !g. most retail stores companies employ salespeople on salary plus incentives basis. his system also acts as a motivating factor for the sales force.

What is lead generation?

%n the process of selling, discovery of the business prospects is the first and foremost step.=ead generation involves indentifying who are the prospective customers for the product or service that they are likely to buy or avail. he prospective sources from where leads can be generated include customer references, trade associations, yellow pages or even through cold calling. While generating leads, the marketer should focus on the fact that the lead so generated is backed by the willingness, purchasing power and authority to buy, otherwise such leads maybe of no avail.

What points are to be kept in mind by a salesperson while giving a sales presentation?
he sales presentation should start with the briefing of the product by the salesperson, understanding the needs and wants of the customer and ad:usting the presentation style according to the re-uirement of the customer. ;e should be very clear about what he wants to convey, only then will he be able to solve the customer related -ueries if any.;is presentation should be vibrant, simple to comprehend and attractive enough to grab the attention of the audience. $fter completing the presentation session he should invite -uestions from the audience which will help them clarify their doubts or problems . ;e must be a good listener as well in order to be able to correctly identify the problems of the customer.

What should be the contents of a good training programme for the sales force?
here are no such hard and fast rules as far as the contents of the training program are concerned. %t is basically the sub:ect matter of the training that matters. $ training programme may differ according to different organisations depending upon the product, markets, company policies , ability of the trainees etc. $ good training programme

should cover the following aspects* a.:ob knowledge b.the product itself c.information about the organisation and the business that it is into. d.the markets and its target customers e.who are the competitors of the product f. what sales techni-ues are to be followed.

What is the procedure for selecting the salespeople for an organisation?

he selection procedure may vary according to different firms. +enerally it may include* a.,illing of the application form. b.1creening of the applicants * picking out the suitable candidates and eliminating unsuitable ones. c..onducting written test d.+roup &iscussion e.)ersonal inteview f./eference checks *$sking for any references to be mentioned by the candidate to check his authenticity. g. Medical e(amination* to determine the physical fitness of the candidate. h.,inal interview and appointment

What is 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. $ll these are aimed at getting the target audience (customer) to first get interested in your product or service and then ultimately buy them.

!(plain its core concepts.

'eeds ,wants and demands are the core concepts of marketing. hese 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. 1ome human needs shaped by cultural and individual e(periences and lifestyles take the form of wants. 0ltimately demands are those sets of wants which are backed by the power to buy and could be related to many needs A wants. Other related concepts of marketing may include the Marketplace with e(change and the actual transaction as its base.

!(plain > .ustomer delivered value, otal customer value, otal customer cost.
.ustomer 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).

otal customer value

he sum total of all the benefits ()roduct value ,service value, personnel value, %mage value) that a customer derives from a product or a service is termed as the total customer value . %n other words these are the benefits that the vendor or seller provides in return of the associated payments received from a customer.

otal customer cost

he 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)

!(plain >Basic marketing

#artnership marketing. Basic marketing

!eactive marketing "ccountable marketing #roactive marketing

"asic marketing is the set of activities used to get your potential customerJs attention. $fter this one has to formulate the communication in a manner so as to motivate them to buy. hereafter the efforts are directed towards getting the customers to actually purchase. $nd then the ultimate goal that is to get them to buy the product again and again . his process on the whole is referred to as basic marketing. !eactive marketing /eactive marketing is the most widely used approach in marketing. /eactive marketing is based on the concept of react ,which mean for e(ample 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. he ease of approach in reactive marketing is the very reason for its popularity. $t 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. "ccountable marketing $ccountable marketing works on the concept that all the targeted marketing communications should be accounted for in terms of the result or output they generate. %n other words every act of communication should concentrate on a uni-ue 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. #roactive marketing )roactive 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. %t definitely involves a lot more work but the end result might be much better than other forms of marketing. &oing something new and different in the market place to attract the attention of the consumer is the core aspect of proactive marketing. #artnership marketing he customer is always looking for something more than what the actual benefits of a product might be. hus 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. he 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. )artnership marketing basically aims at adding more and more value to the benefits derived by a customer.

What are the components of Macro environment?Macro environment is basically referred to

the area of e(ternal business operations of a particular organi#ation. he components of a macro environment have to be well analy#ed before planning the course of marketing programmes as it affects the very performance of a

product or an organi#ation. $ll 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.

What is buying behavior?

The decision making process which involves the period before during and after buying or purchasing a product is referred to as the buying behavior of a customer. The buying behavior of the targeted customer has to be analy$ed before the formation of any marketing strategy aimed to achieve the targeted sells in the market. %ince each targeted segment or market might have a different kind of a buying behavior hence a different kind of approach is needed to reach them.

What are the various buying behaviors e(hibited by the customers?

!outine !esponse &There are some products in the market which are purchased by the customer almost without much thought such as bread butter milk etc. There is a very low amount of involvement by the customer while purchasing these products. The human mind gets programmed in a certain manner when it comes to purchase of such products hence it is done without any prior thought or evaluation.

'imited (ecision )aking > here are certain products which are brought occasionally hence we re-uire some time to gather the information to make a decision. &ue to the lack of knowledge of the product segment in advance it re-uires limited decision making on the part of the customer. !(tensive &ecision MakingM.omple( high involvement, unfamiliar, e(pensive andMor infre-uently bought products. *mpulsive buying > $t certain times we :ust come across a product and buy it impulsively without any kind of prior planning, evaluation or thought.

What are the ma:or factors influencing buying behavior?

he factors influencing buying behavior can be categori#ed into* a. )ersonal factors, b. )sychological factors c. 1ocial factors. )ersonal factors can be related to the persons age, se( , race, religion, occupation, educational -ualifications, level of authority etc. )sychological factors refer to motives related to the satisfying of needs and wants which can either arise out of deprivation or for instant social status. 1ocial factors refer to the physiological and social level of hierarchy in the society the consumer belongs to, which determine his motives of purchasing a product.

What are the stages of buying decision process?

1tages of buying decision process* #roblem !ecognition > his stage refers to recogni#ing a need or a want that has to be satisfied.

*nformation search > his stage refers to the part of the decision process where in the consumer searches information from different sources about the product he needs to buy. $ successful information search leaves a buyer with possible alternatives. +valuation of "lternatives > %n this stage the consumer evaluates the alternatives he has come across in the prior stage. #urchase decision > his is a crucial stage where in the consumer decides on a alternative and proceeds further about when to buy and the mode of purchase. #urchase > his stage refers to the actual purchase made by the consumer depending on the mode, payment conditions and the product availability. #ost&#urchase +valuation > his stage will decide if the consumer will purchase the same product again or if he is satisfied with the applications of the product in relation to his needs. his can be improved by warranties, after sales services.

!(plain "usiness market and .onsumer market

a.)Business market "usiness market in simple words is business to business market where in the products or services of a particular organi#ation are sold to or purchased by other organi#ation or business. %t also happens in support industries where the products that are manufactured are components re-uired to be assembled into the products or services offered by some other business organi#ation. b.) ,onsumer market .onsumer market refers to a market where in the seller sells the product for a primary reason of making profits while buyer buys the products for personal use.

What are the ma:or differences between the two?

%n consumer market the purchase might even be made when the products are not re-uired in day to day activities. "ut in business market the business has to buy to stay profitable. he business buyer is sophisticated in terms of the process involved in buying, decision making while on the other hand the consumer in the consumer market might not be as sophisticated he business buyer is an information>seeker, constantly on the lookout for information and advice. On the other hand the consumer only searches information when he re-uires to make a decision. )ackaging is important in consumer market while its non e(istent in the business market. !(pert advice is taken while making purchases in the business market as against the consumer market. .onsumer market product are simplistic while business products are complicated.

Who are the ma:or participants in business buying process?

he ma:or participants in business buying process are

%nitiators>are the ones who initiate or recogni#e the need of a particular product re-uirement in the organi#ation for enhancement or to combat depravation.

0sers>are the ones who are going to use the product or re-uire it for the smooth functioning of their operations. %nfluencers >>%nfluencers can be of different levels and the decisions that they influence might differ from person to person or post to post. hese are basically the people who will influence the decision of which product to buy from where and what suitable price to buy it in. &eciders > they decide or have the authority to decide whether to buy a certain product or not. $pprovers>they approve the deciders decision to by usually these people are authori#ed to do so. "uyers>> hey are the once who make the actually purchases from other business.

!(plain > )ure monopoly, Oligopoly, Monopolistic competition, )ure .ompetition.

a.) #ure monopoly Monopoly is a market situation in which there is only one seller of a product with barriers to entry of others. he product has no close substitutes. ;e is a price maker who can set the price to his ma(imum advantage. his may occur because the firm has a patent on a product or a license from the government to be a monopoly .)ure monopoly occurs when the producer is so powerful that he is always able to take the whole of all consumers< income whatever the level of his output is. b) -ligopoly Oligopoly is a market situation in which there are a few firms selling homogeneous or differentiated products. %t is difficult to pinpoint the number of firms in the oligopolist market. here may be three or five firms. %t is also known as competition among the few. With only a few firms in the market the action of one firm is likely to affect the others. $n oligopoly industry may produce either homogenous or heterogeneous products. c.) )onopolistic competition Monopolistic competition refers to a market situation where there are many firms selling a differentiated product. here is competition which is keen, though not perfect, among many firms making very similar products. 'o firm can have any perceptible influence on the price output policies of the other sellers nor can it be influenced much by their actions. hus monopolistic competition refers to competition among a large number of sellers producing close but not perfect substitutes for each other. d.) #ure ,ompetition %n pure competition the number of buyers and sellers is very large. here is a perfect competition among them. )rice is determined for the entire industry by the forces of demand and supply. $ll firms have to sell their product at that price. 'o firm can influence price by a single action. hus every firm is a price taker and a -uality ad:uster.

What are the -ualities of useful market segments?

$ market segment must have the following -ualitiesN

1egments must have enough profit potential to :ustify developing and maintaining

.onsumer must have heterogeneous needs for the product 1egmented consumer needs must be homogeneous .ompany must be able to reach a segment with its planned efforts. Must be able to measure characteristics A needs of consumers to establish groups.

What can be the bases for

a.) #roduct differentiation. %ervices (ifferentiation b.) #ersonnel (ifferentiation c.) *mage differentiation

a.) )roduct differentiationM 1ervices &ifferentiation

Modify the ob:ective properties of the products or services. =inking the sales and service function. "e the first to introduce a new product )hysical location of a firm Mi( of products or services sold .ompetitors linkage Maintain and improve its reputation .ustomi#ation 1ophistication of the product Marketing tools used $fter sales services offered

b.) )ersonnel &ifferentiation

1hould have good skills and knowledge 1hould be courteous 1hould always be consistent and accurate 1hould be trustworthy for the end consumer 1hould be -uick in responses 1hould make effort to understand and communicate

c.) %mage differentiation

he identity should be well differentiated from the image )recise aim to identify itself to its customers.

)erception of the firm in the minds of the consumer

What is )=.? !(plain the stages of )=.?

)roduct life cycle refers to the presence of the product in the marketplace with respect to the ups and down in its business costs and sales activities. )roducts usually have a limited life and they pass through distinct stages, each posing different challenges, opportunities, and problems to the seller. )roducts re-uire different strategies in each life cycle stage. he different stages in a product life cycle are* *ntroduction stage> his stage refers to the period when the product has been introduced in the marketplace targeted to a specific or wide segments. &ue to less demand at this stage the costs are high and the sales volume are low as also the competition is -uite less in the market. &emand has to be created so that customers are inclined towards trying the product. Growth stage> his stage refers to the period when the product has caught the market and the demand for it is steadily growing. &uring this stage the costs are reduced due to higher sales volumes as also the competition starts to begin with newer players. )rices are aimed to increase the market share along with profitability being high. )aturation stage> his stage refers to the period when the product is well established and there is no need for publicity. &uring this period the costs are low and sales volume peaks with increase in competition .)rices tend to drop and industrial profit go down. (ecline stage* &uring this stage the product is on a decline in the market. .osts become counter>optimal and sales volume decline or stabili#e. While profit becomes more a challenge of productionMdistribution efficiency than increased sales

What are the common patterns observed in )=.?

he most important patterns observed in product life>cycles are*

!ven under normal conditions, patterns often can<t be determined. %n most markets the ma:ority of the ma:or brands hold positions for at least two decades. )=. of the brand leaders which monopoli#e many markets (around the globe), is usually continuous. )=. is a dependent variable which is automated by market scenarios. )=. is not an independent variable to be considered while creating marketing plans. Marketing tools can easily alter the duration of a product life cycle.

What is a product?
)roduct refers to the bundle of tangible and intangible attributes that a seller offers to a buyer in return of a particular predefined amount of payment in a particular mode. +oods, ideas, methods, information, ob:ects, services, etc., whose output serves as a need or want satisfier.

!(plain width, length and depth of a product mi(.

)roduct mi( usually refers to the length (the number of products in the product line), breadth (the number of product lines that a company offers), depth (the different varieties of product in the product line), and consistency (the relationship between products in their final destination) of product lines.

What are the keys to marketing success?

Feys to marketing success can be summari#ed in below mentioned points* a. the foremost important point is to Osatisfy the customerP. b. $ company should have a clear image in order to achieve marketing success. c. hirdly work should be clearly distinct from other business activities in an organi#ation. %t should be central to the entire organi#ation. d. ,ourthly business should develop a uni-ue strategy that is consistent with the circumstances that it faces.

Mention the various components of marketing management

Marketing management components can be divided into following points* a. .orporate level * %t consists of company<s mission and ob:ectives. b. ,unctional level * 'on marketing and marketing institutions are included in it. c. Marketing level * %t consists of situation analysis, ob:ectives, strategy, implementation, budget, and evaluation. d. he marketing mi( consists of product, distribution, promotion, and price.

What were the different approaches used in marketing earlier?

here were three marketing approaches used earlier* a. )roduction orientation* $n organi#ation which focuses on production speciali#es in producing most of the given services and products without considering the -uality. b. )roduct orientation* $n organi#ation which focuses on product orientation is mainly concerned with the -uality of the products. c. 1elling orientation* $n organi#ation which uses sales orientation mainly focuses on the selling or promoting a particular product, and not determining new consumer desires as such.

!(plain 1ervice marketing. $lso e(plain what is a service

a. 1ervice marketing can be defined as marketing of services. %t<s not same for tangible products. 1ervices if compared with goods then neither all products are purely goods nor services. %n more clear words service can be defined as b. use of the service is not separated from its purchase. c. $ service can never be in material form and therefore it cannot be touched, seen, heard, tasted, or smelled. d. he use of a service is inherently sub:ective, i.e. if many people are e(periencing services then each of them will e(perience it uni-uely.

What are the current approaches used for marketing?

.urrent approaches used for marketing can be categori#ed in four categories* a. /elationship marketing* his approach basically deals with customer satisfaction. he whole emphasis is done on the relationship between the suppliers and customers. b. "usiness Marketing* %t does not focuses on consumer products rather it focuses on industrial goods. $ll sort of marketing techni-ues are like promotion, advertising, etc are used. c. 1ocial marketing* %t focuses on marketing a product socially i.e. online.

What is an %nternational marketing plan?

a. %t involves the organi#ation in making more then one marketing decisions across the nations. b. here are many reasons to enter an international market led by large market si#e and diversification. c. here are also several reasons to avoid entering international markets, including too much red tape, trade barriers, and transportation difficulties . d. he stages of going international are as follows* e(porting, licensing, :oint ventures, direct investment, 0.s. commercial centers, trade intermediaries, and alliances .

What is marketing communication?

Marketing communication can be defined as the efforts made by the seller to convey his message to his buyers and to accept it in retrievable form. he main point of communication process is persuasion. %t is totally goal oriented. %t is not an hapha#ard activity. !ach of its tool consists of specific comple(ities and potentialities that :ustify managerial speciali#ation.

What are the various types of marketing research?

various types of marketing research are* a. ,ield research * %t is related to the research for a specific purpose. b. &esk research* 0sually it is conducted for one purpose initially but gradually it is used to support another goal. c. Gploratory research* %t investigates an assumption.. d. )redictive research* his type of research is done to predict any future occurrence. e. .onclusive research* his type of research is done to derive a conclusion of a research process.

What is real>time marketing? ;ow it became important?

/eal time marketing can be defined as marketing done to a customer in a particular time and place. %t is the kind of marketing which seeks the most appropriate offer for a particular customer. /eal>time marketing is the outcome of customer relationship management (./M) solutions in ma:or companies.Over time /eal>time marketing became a big solution for vendors and maturing customers. @endors found themselves re>branding real>time marketing products to suggest a more holistic appreciation of enterprise interaction decision management.

What is interruption marketing?

%nterruption marketing can be defined as promoting a product by the means of advertising, public relation and sales. %t is not suitable every time and depends upon company to company. %t is very much sales directed, so if a company has limited funds to invest for advertising and wants -uick results then interruption marketing is best. "ut at times it is not considered a fruitful way of marketing.

What is the difference between %nterruption marketing and permission marketing?

here is a vast difference between permission marketing and interruption marketing. )ermission marketing is getting found by the customers by itself by the means of 1!O, social media and content. %t basically focuses on maintaining long term relationship with the customers which is always helpful in long run whereas %nterruption marketing focuses on getting -uick sales without any thought of long term relationship with customers. %t :ust targets on promoting the product by the means of advertising, promotion etc. to get -uick results.

!(plain diversity marketing

his type of marketing focuses on creating effective communication methods and mi(ing with each of the diverse groups active in the market. "ecause different consumer groups have e(periences in different cultural and social

settings, therefore diversity marketing recogni#es the importance of cultural programming and acknowledges the consumers accordingly. &ifferent cultural programming, the tastes, values, e(pectations, beliefs, ways of interaction, ways of entertainment, and lifestyle preferences of these groups tend to be different from others so these differences re-uire the creation of customised marketing strategies.

What is ethical marketing? e(plain in brief.

.onsidering marketing ethics in the process of marketing is called ethical marketing. "riefly, if we e(plain it is the philosophical e(amination, from a moral standpoint, of particular marketing issues that are matters of moral :udgment. %t results into business community which is much more responsible socially and culturally.%t<s e(istence is very much beneficial to the society also. %t should be the part of business ethics because it plays a very significant part in any business model. %t gives those benefits to it<s customers which other companies does not even recognise.

What is segmented market?

1egmenting market is to segment the customer and organi#ations so that each segments needs can be recogni#ed and fulfilled properly. he advantage is that there is no need of selling the product to all the segments of market infact a particular segment can be targeted according to their re-uirements. Market segmentation is done in two steps* a. first step is to identify and classify people into homogeneous groupings which are called segments. b. second step is finding out which of these segments are f target markets.

What are the ob:ective of segmentation analysis?

he main essence of segmentation analysis is* a. o minimi#e the risk in taking decisions regarding how, who, when and where to market a a product service or a brand. b. o ma(imi#e efficiency of marketing by directing effort towards a particular segment in a consistent manner with that segmentJs characteristics.

What are the two ma:or segmentation strategies followed by the marketing organi#ations? !(plain in brief.
he two strategies followed are* a. .oncentration strategy* his kind of segmentation strategy deals in a particular segment of market and therefore they set their prices, etc accordingly. ,or eg Mercedes ben# has chosen to concentrate on the lu(ury segment of the the car market. b. Multi segment strategy* his kind of segmentation strategy focuses on more then one different market segments. hey make separate marketing programs for separate segments.

What are various kind of influences which affects consumer behaviour?

here are various influences, few of them are* a. 1ituational %nfluences* %t consists of Market offerings, &emographics and .omple(ity. b. !(ternal %nfluences* %t consists of .ultural, 1ocial class /eference groups. c. %nternal factors and processes* i. )sychological .haracteristics >Motivation, =earningMsociali#ation, )ersonality, $ttitudes, =ifestyle ii. &ecision Making > /ecogni#e needs, 1earch for information, !valuate alternatives, Make purchase, )ost purchase.

What is test marketing?

est marketing is done in order to test the various variabilities including the elements of the product in a marketing plan. %t pro:ects the actual launching of the whole marketing program but on a limited basis. %n short it can be said that it is the last step before the product is released.

Mention the various steps of a new product development process @arious steps which are followed is mentioned below* a. .reating new product ideas b. +o through ideas c. /esearch and analy#e d. echnical and marketing development e. Manufacturing planning f. Marketing planning g. est marketing h. .ommerciali#ation

What is false advertising?

,alse advertising is using false statements to promote products and increase profit lines for a company or a brand. 1uch advertisements use deception to persuade people. 1uch advertisements completely deny the right to know for consumers and are banned in many countries. 1till they have been a trend by finding legal ways to deceive people.

1. Tell me about yourself

This does not mean tell me everything. It means tell me in a few sentences why youre the most suitable candidate for the job. Talk about your relevant education, experience, key results and achievements. Remember to tailor your answer to the specific job using an example or two to back up your answer. If this was your one chance in the interview to sell yourself and tell the interviewer what you can do for them, what would you say?

2. Why do you want to work for us?

Heres where your research about the company will help you to stand out from the other candidates. Explain how youve always wanted the opportunity to work with a company that, for example, is a leader in innovative products. The best source for research is the companys website. Read through their annual reports, look at their products and services and try to gain an understanding of the structure of the company (size and number of employees) and the market its in. Also research the companys competitors and other organisations operating in the same field.

3. Can you give me an example of a marketing campaign that did not work out as you had planned?
It is important that you are able to recognise why a plan went wrong and to learn from the experience. Campaigns often fail due to poor research and groundwork, poor planning and follow through of objectives and goals or ineffective communication. Be open about why the campaign failed, take accountability and focus on what you learnt.

4. Tell me about a marketing project that you brought in on time and under budget
Focus on your planning and organising skills to get the best return on the marketing budget. Detail what controls were put in place to track and stay on top of expenditure and how plans were adjusted when necessary. Discuss your ability to react quickly and accurately to meet new demands and constraints.

5. Describe a situation in which an innovative course of action was necessary?

Talk about how you gained a clear perspective before deciding on the focus of your innovation. How you took into consideration the available resources to determine the best course of action. Explain the action taken and why it was innovative.

6. Give me an example when youve convinced someone to do something they didnt want to do
Consider a situation when you convinced someone to do something which they initially had severe doubts about. Talk about the methods you have used to convince someone as well as how persistent you needed to be. Show that you enjoy influencing other people as well as being good at it.

7. Which of our products/services most appeals to you and why?

For any marketing interview you must familiarise yourself with what the company does and its successful products/services. This will allow you to identify its appeal and then describe how the marketing strategy has worked. An example might be Walkers crisps tasting nice and through the good marketing strategy are now also perceived as good fun which is obviously important when one of their biggest markets is children.

8. Tell me about a brand that you think is an example of good marketing

Identify one of your favourite brands and its positioning and target. In other words, who is the brand trying to reach and what are they trying to tell them. Discuss how the brand uses the marketing variables to support its positioning using the 4 Ps (product, price, place and promotion) and give examples about how your brand delivers against each.

9. Analyse this advert and pretend that you are the client looking at it for the first time. What do you think?
Look closely because the advert wont be perfect. Begin by defining that a great advert makes people want to run out and buy the product. Great adverts might not win awards but they sell products. The most effective adverts tend to have a unique, relevant product benefit, a strong link between the brand and the benefit and are engaging through use of words and colour.

10. If you were a brand, which brand would you be and why?
Here is your chance to market yourself. You know what the interviewer is looking for as you will have done your homework so now is the time to pull out an example that shows you have it. This is also your opportunity to differentiate yourself from other candidates.

Tell us about yourself. O%<m really energetic, and a great communicator. Working in sales for two years helped me build confidence, and taught me the importance of customer loyalty. %<ve also got a track record of success. %n my last role, % launched a company newsletter, which helped us build on our e(isting relationships and create new ones. "ecause of this, we ended up seeing a revenue increase of 84Q over two years. %<m also really interested in how companies can use web tools to better market themselves, and would be committed to building on your e(isting platform.P What do you think of your previous boss? My last boss taught me the importance of time management L he didn<t pull any punches, and was e(tremely deadline>driven. ;is no>nonsense attitude pushed me to work harder, and to meet deadlines % never even thought were possible Why are you leaving your current role %<ve learned a lot from my current role, but now %<m looking for a new challenge, to broaden my hori#ons and to gain a new skill>set L all of which, % see the potential for in this job. Where do you see yourself in five years? %n five years %<d like to have an even better understanding of this industry. $lso, % really love working with people. 0ltimately, %<d like to be in some type of managerial role at this company, where % can use my people skills and industry knowledge to benefit the people working for me, and the company as a whole

1. How can marketing lead the way toward customer centricity? What experience do you have to support your answer? 2. What is a customer-centric marketing organization, and what ive processes has your team implemented to make your entire company more customer-centric?

!. " your current company is not yet customer-centric, what skills does your current marketing team re#uire to lead your company through this change? What steps are you taking to close this skill gap? $. With whom should you partner to help support this shi t to customercentricity? %. How can you leverage new channels, tactics, and media to drive customer engagement and intimacy? What steps have you taken to link these divers to your team&s compensation? '. How can you e ectively integrate traditional, maturing, and new media, channels, and tactics? (. What technologies should you leverage to )est reach your clients and integrate your activities?
8. ;ow can marketing lead the way toward customer centricity? What e(perience do you have to support your answer? 5. What is a customer>centric marketing organi#ation, and what five processes has your team implemented to make your entire company more customer>centric? 3. %f your current company is not yet customer>centric, what skills does your current marketing team re-uire to lead your company through this change? What steps are you taking to close this skill gap? ?. With whom should you partner to help support this shift to customer > centricity? 9. ;ow can you leverage new channels, tactics, and media to drive customer engagement and intimacy? What steps have you taken to link these divers to your teamJs compensation? 7. ;ow can you effectively integrate traditional, maturing, and new media, channels, and tactics? 6. What technologies should you leverage to best reach your clients and integrate your activities? B. %f your company markets through both "5" and "5. channels, describe any channel differences in approaching customer>centricity? R. What customer e(perience strategies are disrupting the status -uota in your industry? $re these strategic disruptions customer driven? Or were they driven by your competitors? Why? 84. Which of your competitors offer a superior customer e(perience? ;ow do they do it? ;ow did they preempt you? &id you see it coming? 'ame five things you are doing right now to address this problem?

Why is it important to conduct market research?

This is an open question about the industry you are applying for and is therefore a real opportunity to impress so extend your answer. Key reasons why it is important to conduct market research are so companies can better understand the market they operate in, important research can range from quantitative research like the size of the market and how the market is broken down, to more qualitative research like how consumers perceive a product.

Describe how you have used research methods in the past.

Most candidates will have to bring up an example from their academic past. Try and describe both quantitative and qualitative methods to show that you have a wide range of skills. ome candidates may have an example from some work experience they have conducted. Try and use a recent example and explain how you conducted research particularly effectively.

How would you communicate results of your research to a client?

!rite a report or give a presentation, be sure to include the raw data so they can make their own analysis. "ou need to show an appreciation of how you need to present different data in different ways. #f you have collected a large data set then it will be a good idea to use diagrams to present the data whereas if you have conducted an in$depth focus group then you will need to transcribe a report. #t is crucial that you show an awareness of effective methods of communication and presentation.
What are the differences between Marketing and 1ales? Well sir, marketing is an activity which is totally customer oriented where as sales is profit oriented activity. %n marketing we try to fulfill the needs and demands of customer by manufacturing the products of their needs where as in sales we provide the products or services anyhow to the customer to manage the money or contracts in its return. What are the various roles of a Market /esearch $nalyst? he various roles are* &efining the marketing problem, !numerating the controllable and uncontrollable decision factors, .ollecting the relevant information, %dentifying the best alternative, &eveloping and implementing a marketing plan and !valuating the decision and the decision processes What do you mean by "rand !-uity /esearch? "rand !-uity /esearch is the conclusion and the effect of a marketing research that accumulate to a product with its brand name. %t is totally based on the .onsumer<s Fnowledge and their perception towards the brand. %t is one of the factors responsible for the enhancement in the financial value of a brand.

% think, % have supplemented you lot of information which is the basic re-uirements of the interview of Market /esearch $nalyst.

What is difference between "ayesian and ,re-uentist? "ayesians condition on the data actually observed and consider the probability distribution on the hypothesesN ,re-uentists condition on a hypothesis of choice and consider the probability distribution on the data, whether observed or not.

5. What is likelihood? he probability of some observed outcomes given a set of parameter values is regarded as the likelihood of the set of parameter values given the observed outcomes. 3. What is p>value and give an e(ample? %n statistical significance testing, the p>value is the probability of obtaining a test statistic at least as e(treme as the one that was actually observed, assuming that the null hypothesis is true. %f the p>value is less than 4.49 or 4.48, corresponding respectively to a 9Q or 8Q chance of re:ecting the null hypothesis when it is true ( ype % error). !(ample* 1uppose that the e(perimental results show the coin turning up heads 8? times out of 54 total flips S null hypothesis (;4)* fair coinN S observation O* 8? heads out of 54 flipsN and S p>value of observation O given ;4 T )rob(U 8? heads or U 8? tails) T 4.889. he calculated p>value e(ceeds 4.49, so the observation is consistent with the null hypothesis V that the observed result of 8? heads out of 54 flips can be ascribed to chance alone V as it falls within the range of what would happen R9Q of the time were this in fact the case. %n our e(ample, we fail to re:ect the null hypothesis at the 9Q level. $lthough the coin did not fall evenly, the deviation from e(pected outcome is small enough to be reported as being Wnot statistically significant at the 9Q levelW.

?. What is sampling? ;ow many sampling methods? 1ampling is that part of statistical practice concerned with the selection of an unbiased or random subset of individual observations within a population of individuals intended to yield some knowledge about the population of concern. here are four sampling methods* 1imple /andom (purely random), 1ystematic( every kth member of population), cluster (population divided into groups or clusters) and stratified (divided by e(clusive groups or strata, sample from each group) samplings.

9. What is the possibility to win lottery game 7?R? )ick 7 numbers out of ?R possible. he number of 7>number combination from a pool of of ?R numbers are* ?RIMX(?R>7)I7IYT83,RB3,B87 .e We only have one of 8? million chance.

/ow might the standard deviation (%) of a normal distribution be greater than the mean?

%f some scores are negative, the mean could be very small despite a large 1