Needs , wants and demands are the core concepts of marketing. These are basically inter related to each other which me needs which could be individualistic, social or physical arise due to a state of deprivation and have to be fulfilled for a basic human survival. Some human needs shaped by cultural and individual experiences and lifestyles take the form of wants. Ultimately demands are those sets of wants which are backed by the power to buy and could be related to many needs & wants. Other related concepts of marketing may include the Marketplace with exchange and the actual traction as its base.
Lasswell’s (1948) model describes communication as a one-way trmission of messages. The model shows the ‘who’ as the ‘source’, the ‘what’ as the message, the ‘how’ as the channel, the ‘whom’ as the destination and the ‘effect’ as the outcome.
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. The main point of communication process is persuasion. It is totally goal oriented. It is not an haphazard activity. Each of its tool consists of specific complexities and potentialities that justify managerial specialization.
Various types of marketing research are:
Cultural diversity is the variety of human societies or cultures in a specific region, or in the world as a whole. It is important that people study diversity as they prepare to enter their career because people can then accommodate differences in the background, perspectives and family responsibilities of other employees, and gather knowledge from the diversity of perspectives to generate new ideas and ways of doing things. It is also important, as they will already have acknowledged that the workplace is diverse and also respect other colleagues of their customs and cultural beliefs. This in turn prevents any form of discrimination, and judgement.
Interruption marketing can be defined as promoting a product by the me of advertising, public relation and sales. It is not suitable every time and depends upon company to company. It is very much sales directed, so if a company has limited funds to invest for advertising and wants quick results then interruption marketing is best. But at times it is not considered a fruitful way of marketing.
There are various influences, few of them are:
a. Situational Influences: Consist of Market offerings, Demographics and Complexity.
b. External Influences: Consist of Cultural, Social class Reference groups.
c. Internal factors and processes -
i. Psychological Characteristics - Motivation, Learning/socialization, Personality, Attitudes, Lifestyle
ii. Decision Making - Recognize needs, Search for information, Evaluate alternatives, Make purchase, Post purchase.
Test marketing is done in order to test the various variability’s including the elements of the product in a marketing plan. It projects the actual launching of the whole marketing program but on a limited basis. In short it can be said that it is the last step before the product is released.
In times of economic strain, this question is most relevant for a marketing professional. As marketing is one of the most important functions within a company, when finances are tight a marketing budget, which may once have been limitless can be squeezed down to close to nothing. This is yet another area which will require a creative wer that also highlights your planning and ambition in terms of working under pressure.
Also, the best way to wer questions about the future is to focus on accomplishments of the past. In other words, when asked about how you would deal with possible future scenarios, refer to your past accomplishments. Your wers should focus on successful campaigns with statement such as, “While I was with my previous company I initiated both low-cost lead generation strategies and several viral marketing campaigns using an almost inexistent budget to boost profits by 200%.”
This question may be followed by an enquiry on how you went about launching these campaigns. This is an excellent opportunity to elaborate on additional skills and impress the interviewer with your knowledge of the industry.
Be specific when wering questions about your accomplishments with other companies. By simply stating, “I ran several online marketing campaigns” does not adequately show what you can do for the company.
A more appropriate wer would be: “I started a social media campaign that used targeted advertising systems to market the company’s services to youth in North America.” In order to elaborate - this will further project your knowledge of different campaigns - use numbers that support the project such as, “Within three financial quarters, sales increased by 427% and brand recognition vastly improved by 10% within the target demographic.”
Provide an example of a marketing campaign (either your own or someone else's) that you consider to have been very successful.
As mentioned above, marketing demands a lot in terms of creativity. When wering questions such as this, it is important to make sure you include as much creative thinking in your response as there was in the actual project. When discussing a campaign that you felt was successful, make sure to include why you feel it was a success, what contributed to making it a success and point out key tactics that you can identify with, which made the campaign successful.
When wering this question make sure to show how cultural, social, personal and psychological factors all impact consumer behavior. Provide an example of a marketing campaign or project you developed and how you used these four key factors to develop and optimize your project.
Coming up with new and effective ways to market a product in such a tight economy is a tough challenge and these days customers have more power than ever. It is getting more difficult for marketing initiatives to effectively meet these new customer demands. Keep these and other factors in mind when tackling this question, relate your personal experience of the challenges you have encountered and discuss the creative ways in which you handled them.
Define: the abilities to recognise and regulate emotions in ourselves and others. Discuss: Emotionally intelligent people are responsive to others and able to use their own personal and social competence to express their expectations and values. Researchers have concluded that success is related to more than general intelligence (IQ). Successful people are emotionally intelligent. They have the personal and social competence to develop positive personal, social and work relationships, and to interact easily. Emotional intelligence influences organisational effectiveness in a number of areas: employee recruitment and retention, development of talent, teamwork, employee commitment, morale and health, innovation, productivity, efficiency, sales, revenue, quality of service, customer loyalty, client or student outcomes.
The two strategies followed are:
The macro-culture comprises all the arts, beliefs and institutions (legal, governmental, business, educational and social) that characterise an ethnic group, race or nation, while a narrower micro-culture exists within the macro-culture. The micro-culture includes the characteristic attitudes and behavior operating within a group, an organisation or a nation.
Macroculture usually consists of the culture which influences the majority of the people. In United States, macroculture reflects to the traditions of Western Europe.
An example of a micro-culture could be the aboriginal community within the larger Australian community.
There is a vast difference between permission marketing and interruption marketing. Permission marketing is getting found by the customers by itself by the me of SEO, social media and content. It basically focuses on maintaining long term relationship with the customers which is always helpful in long run whereas Interruption marketing focuses on getting quick sales without any thought of long term relationship with customers. It just targets on promoting the product by the me of advertising, promotion etc. to get quick results.
Are we rationalizing:
Identify if you are rationalising, that is justifying your reasons with excuses such as: Everybody is doing it
It’s not illegal
They did it to me
If I don’t do it someone else will
The golden rule:
Treat others as you would want to be treated
If you wouldn’t like a particular action or behaviour to happen to you, then don’t do it to others
After making a decision, it would then be publicised for anyone to see or read about such as family, friends etc. If you are happy and confident in what you have done and do not feel any guilt then it is a good test to use, if not, then the decision was not ethical.
An interviewer will ask his question in order to assess how you handle a failed plan, as this is quite inevitable. It is important that you are able to recognise the key reasons why a strategy went wrong and what you learnt from the experience.
Campaigns may fail for many different reasons, including: 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.