Marketing is a broad concept. It is not only the ability to be able to sell your products/services to your target customers but also dealing with the whole process within. The Marketing team holds a crucial position in any company because of their power to increase sales. Today, you’ll find marketing growing as a profession. Many students are opting marketing as a major for their undergrad while gaining experience through marketing internships. This can get a bit too much, especially when they have to balance their finals, internships, marketing thesis, etc. For such students many websites help them completing their marketing assignments while they gain practical knowledge on how to sell a product.
If you are a marketing student or someone who has keen interest in marketing and believes in their ability to sell, here are the 7 questions about marketing you should know how to answer.
1. Describe the 4 P’s of Marketing
This includes Product, Price, Place, and Promotion. The 4 P’s are interrelated and helps form the overall marketing strategy of the company. Product includes everything related to product from its quality to its packaging. Price includes the effective pricing strategies. Place covers the distribution channels while Promotion will deal with selling strategies.
2. What are the different types of values used in value proposition of marketing strategy?
Value proposition shows the value of the product being sold to the customerwhich includes- a) Operational Excellence- this provides the best features of the product to the customers at an affordable price.b) Product Leadership- this focuses on the quality of the product bringing competitiveness in the market.c) Customer Intimacy- this focuses on the flexibility of the product since customers are attracted to the products which can be easily customized according to their requirements.
3. Steps involves in Competitive Positioning Strategy
This is the foundation of every business allowing the use of the latest technology and expanding the business while raising demand for the new products. The steps include-
- Selecting the appropriate profile to market your company.
- Determine the stage of market your business is in.
- Segmenting your market and understanding the customer’s perception.
- List the needs of customers and provide them.
4. Why is Branding crucial for the company?
It is the only factor which helps the business to stay in the market. It helps to sell your products. People associate with brands. If you brand yourself as a company which is trustworthy and known for its quality, you will receive more sales and revenues. It helps you stand out in the crowd.
5. How does the brand strategy followed by the company?
Brands interact with customers’ daily and include the following components-
- Images conveyed.
- Message used to sell the brand.
- Representing of employees interacting with customers.
6. What is the best neutral case in strategic marketing?
It has to do with what the company is delivering to the customer. In this case, customers will have a consistent view of the company and its product. You will give the product to the customer and they will consume it. This situation will allow you to close the deals with the customers quickly.
7. What is the best case in generating the revenue by using good distribution program?
Using more the one distribution channel will allow your revenue to grow more quickly if customer’s requirements are met. They will be more attracted to your products since the information will reach to them more quickly and easily.
These are some things you should know about marketing if you are planning to go into this field. Marketing is an exciting field where you deal with different types of people daily and understand their behavior in order to sell. As a marketing student, aid from websites like thesis-statement.html will help you a lot when there is a lot to deal with. So put your creative hat on and sell those products!