Marketing questions

1. What is marketing?
Ans: Marketing can be termed as the process of selling a product or service. It includes market
research and advertising.

2. What do you understand by STP?

Ans: STP stands for Segmentation, Targetting and Positioning.

3. What are the four Ps of marketing? What are the additional 3 Ps?
Ans: The four Ps of marketing are Product, Place, Price and Placement. The additional three Ps
are People, Process and Physical Environment.

4. What is service marketing?

Ans: The process of marketing a service like financial services, hospitality and tourism. It is
either B2B or B2C.

5. What is the difference between a consumer and customer?

Ans: Customer is someone who purchases the product. A consumer is someone who
consumes/uses the product. For eg. Dog food (Bought by dog owner (customer), consumed by
the dog (consumer)).

6. What is market share?

Ans: A percentage of total sales volume in a market captured by a brand, product, or company.

7. What’s a sales funnel?

Ans: Also known as the revenue funnel, it is the steps involved in the buying process that a
company takes its customers through while selling a product.

8. In marketing, what AIDA stands for?

Ans: AIDA is a marketing tool that stands for Awareness, Interest, Desire and Action.

9. What do you understand by CRM?

Ans: CRM stands for Customer Relationship Management.

What is the difference between sales and marketing?

->Selling begins when a product or service becomes available for consumption or use.
This function covers retailers’ awareness and confidence on the product and cultivating
customer advocacy for the maker of the product or service.
 Marketing, on the other hand, is much broader in scope and starts long before the
selling process takes place. It covers everything about the market, the consumer,
and the brand.

What’s the difference between the push and pull strategies?

 Push marketing means you are trying to promote a specific product to an
audience you find relevant. Pull marketing implies that you implement
a strategy that will draw consumers towards your products – often creating loyal
customers or followers.
 Eg of pull Social media networks. Word of mouth.
 example of push selling is mobile phones where major handset manufacturers,
such as Nokia, promote their products via retailers

What is ambush/guerrilla marketing?
Guerrilla marketing is an advertisement strategy in which a company uses surprise and/or
unconventional interactions in order to promote a product or service. It is a type of publicity.

What are the stages of a product life cycle?

 INTRODUCTION
 In the Introduction stage of the product life cycle, a product or a

service is introduced to the market. Consumers are testing the product in this phase.
 
*GROWTH
 After a product is introduced in the market, consumers become more
interested in it. This is called the Growth stage of the product life cycle. Sales are
increasing and competitors are emerging as well. Products become more profitable
and companies form alliances, joint ventures, and takeovers.
 *MATURITY
 The market has reached saturation. Some producers at a later stage of
the Maturity stage of the product life cycle begin to leave the market due to poor
profit margins. Sales dynamics is beginning to decrease.
 
*DECLINE
Continuous decline in sales signals entry into the Decline stage of the production life
cycle. Competition is taking over your market share at this point. Economic and
production conditions are becoming unfavourable.

What are your favourite ad campaigns? Why are they your favourite?
 https://smu.edu.in/smude/blog/news-list/article/ten-best-indian-brand-campaigns-to-inspire-
you.html