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Top 20 marketing questions asked in MBA interview ! PART 1

Top 20 marketing questions asked in MBA interview ! PART 1

Q-1) What is marketing?

Ans. There are many good definitions of marketing available everywhere so you need to choose your effective one and prepare for that to discuss in interview, in case. Some are as follows:
*Marketing is the management process responsible for identifying, anticipating and satisfying customer requirements profitably.
*Marketing is communicating the value of a product, service or brand to customers, for the purpose of promoting or selling that product, service, or brand.
*The management process through which goods and services move from concept to the customer.
*The activities of a company associated with buying and selling a product or service. It includes advertising, selling and delivering products to people.

Q-2) What is the most interesting thing about marketing and sales?

Ans. The most important and interesting thing you need to know about marketing and sales is that both activities are easy and fun.
*Marketing is a fun, creative activity. A lot of it, as you will see, is brainstorming around your cause and the people whom you hope to influence.
*Sales is also a fun activity, believe it or not. Okay perhaps not if you’re really shy, in which case you might want to stick with behind the scenes marketing or other activities. But many people, once they know what they’re doing and get in some practice, find that they like sales.

Q-3) What is the difference between marketing and selling?

Ans. This is the most common question asked in every marketing interview. So the differences are:

*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.

4) Tell me something about 4p’s of marketing

Ans. The following describes the four P’s of marketing:

Products are the goods and services that your business provides for sale to your target market. When developing a product you should consider quality, design, features, money dollars covering costs expenses packaging, customer service and any subsequent after-sales service.

Place is in regards to distribution, location and methods of getting the product to the customer. This includes the location of your business, shop front, distributors, logistics and the potential use of the internet to sell products directly to consumers.

Price concerns the amount of money that customers must pay in order to purchase your products. There are a number of considerations in relation to price including price setting, discounting, credit and cash purchases as well as credit collection.

Promotion refers to the act of communicating the benefits and value of your product to consumers. It then involves persuading general consumers to become customers of your business using methods such as advertising, direct marketing, personal selling and sales promotion.

Q-5) Tell me something about PLC (Product life cycle).

Ans. The product life cycle has 4 very clearly defined stages, each with its own characteristics that mean different things for business

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.

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.

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.

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.

Q-6) For a new salesperson, what are his needs?

Ans. New salespersons needs:

* He needs to know the information on company history, its policies, rules and regulations etc.

*Details about the product- its features, usage , demand.

*Systems and procedures as followed by the company. This may include the work timings, overtime, field work, work culture of that particular organisation etc.

*Training on the basic ethics that need to be followed while selling a product.

*He must know the basics of selling the different products of the company.

Q-7) Why do you want to work in marketing field?

Ans. The best way to answer this question is, first of all, to be prepared and knowledgeable about this field. Spend some time researching the marketing field so you can talk about the benefits of working in this area. Compare your goals, let the interviewer know what best you can do in marketing job even though the question is about why you want to work here, you still need to convince the interviewer that hiring you will benefit the company.

Q-8) What are the keys to marketing success?

Ans. The keys to marketing success are:

*Analyzing the Competition.
*Working Your Customer Base.
*Development of Objectives.

Q-9) What motivates you?

Ans. Here the interviewer is trying to understand the key to your being successful in the job he is interviewing for, and wants to make sure it’s a good fit. So consider, in advance of interviewing, what actually does motivate you and come up with some specific examples to share during the interview. It’s all in the detail. Whatever you say, you need to back it up with examples

Q-10) Are you competitive by nature?

Ans. Competition is very important to survive in the market so to achieve success in this field you have to be competitive. Suite the examples of your work related to market competition in your answer as proof .