- For example, many years ago, few people might feel that they need a cell phone. If marketers simply followed this information, cell phone will nor be so popular now. Marketers shapes consumers to realize this need and stimulates this market. So,...Link: https://careerbuilder.com/job/J3Q20279KSQ0ML6Z3WQ
- There is another reason that mass marketing is on the decline is the demand from consumers for personalization. Compared with many years ago, there are more people today who want to be different. Advances in technology now let manufacturers create...Link: https://ducksters.com/science/biology/dna.php
- It's become necessary for companies to change their market segmentation, because markets are dynamic. The market preference is always changing, so the company should make sure that their capacity and capability match with their market segment demand. If the current segment is not well match toward the company capability, consequently the organization should change their market identification. Their rationale is that all brands, in some sense, have a finite life and cannot be expected to be leaders forever. Other experts contend, however, that brands can live forever, and their long-term success depends on the skill and insight of the marketers involved. Take a stance whether brands cannot be expected to last forever versus there is no reason for a brand to ever become obsolete.Link: https://reddit.com/r/UCalgary/comments/bd8bgq/cmmb_528a_528b/
- Answer: Nothing is forever, but some brands can carry on for an extended time if the brand is managed in a way that its value doesn't depreciate. Brand leaders such as Coca-Cola has survived the test of time because they are constantly modifying and improving their strategy or introdusing new products. So, well-managed, a brand could live forever. American Express, Western Union and other brands also still going strong after more than years. Even if brands dies it can rise again. Do you support this statement? If yes, why? If not, why not? Answer: "Customer is always right" is one of the idea employed by some of the company in the market. There is nothing right or wrong about the idea. It was based on the intention to fulfill and satisfy customer needs. However, this can be achieve by not bound with the mean of the phrase "Customer is always right". The customer is the most important visitor on our premises. He is not dependent on us. We are dependent on him. He is not an interruption of our work.Link: https://bartleby.com/questions-and-answers/a-researcher-carries-out-a-qlr-test-using-30percent-trimming-and-there-are-q-5-restrictions.-answer-/d5fab06b-0b89-4c20-b65f-573ddfe5ebec
- He is the purpose of it. Some marketers believe that product performance is the end all and be all. Other marketers maintain that the looks, feel, and other design elements of products are what really make the difference. Take a position whether product functionality is the key to brand success versus product design is the key to brand success. Answer: Consumers buy products to satisfy a need.Link: https://quizlet.com/214778574/comsec-communication-security-flash-cards/
- A product must perform to an acceptable level according to the consumer's perception of benefits in their customer value hierarchy. Products have unique characteristics and specific brand identifications that meet consumers' needs that are not related to functionability. Such needs as status, selfactualization and style. For example, most automobiles will perform the task of taking a person from point A to point B.Link: https://social.technet.microsoft.com/Forums/en-US/beaafbd5-8c72-45eb-b5a1-39319a04858a/encryption-and-ransomware-protection-with-dpm
- However, it is the design of the automobile that appeals to the buyer. For many consumers style plays more important role. And I think design can be a powerful marketing asset. Discuss this statement and its implications for effective marketing. Answer: We make purchases not for the products themselves, but for the problems they solve or the opportunities they offer. Marketing should focus on the product benefits. This must be done so that sonsumers to know the advantages of your product and then interested to use it.Link: https://ciscopress.com/store/ccsp-ips-exam-certification-guide-9781587201462
- They want to buy a benefit, so exactly what benefit will your product or service be to them? Marketers have to find out what customers personally consider to be benefit. For effective marketing: Marketers should define their business in customer benefit term. What do customers want from products like yours? Why should someone buy your product? What benefits or results the customer recieve from doing business with you? What will your product do for them? Marketers should give significant thought to the problem what their product or service is solving in the life of the customer and to put themselfes in their place and think about benefits they as a customer would expect and demand.Link: https://pdf.examtorrent.com/VCP410.pdf
- Question Why is it important that an organization undertakes regular monitoring of its market environment and what are the key areas that should be examined? Answer: Regulary monitoring market environment is important for business to succeed. The company should analyse its performance to ensure that it remains effective. This will allow the company to have better control over the performance of company's market strategy. Marketers need to understand the marketing environment and modify their marketing plans so as to maximise opportunities and minimise threats. Businesses are constantly being inluenced by their external and internal environments. Question Explain the relationship between customer value, customer satisfaction, and customer loyalty.Link: https://nauticalmind.com/blog/transport-canada-exam-guide/exams/gsk3-general-ship-knowledge-3/
- Do we need loyal customers? If No, why not? Answer: Customer loyalty positively influenced by customer satisfaction. Customer satisfaction is a key issue for every company wishing to increase customer loyalty and thereby create a better business performance. And the other hand, customer satisfaction influenced by customer value. Companys attract new customers by promising superior value and keep and grow current customers by delivering satisfaction. There are some reasons why we need loyal customers: Loyal customers will purchase your goods or services again and again over time. The more loyal customers are, the safer the company will be from the competition. Loyal customers can also bring you new customers.Link: https://weegy.com/?ConversationId=2WUQ1HJG&Link=i&ModeType=2
- Question The key success factor in new product development revolves around the capabilities of the Research and Development team. How accurate in your view is this statement? Justify your answer. Answer: Market research is the process by which businesses find out about customers' needs, wants and desires. It makes possible the successful development of new products.Link: https://vwu.edu/mybeacon.php
- So, Marketing research helps marketers learn more about their customers' requirements, expectations, perceptions, satisfaction and loyalty. Question In what ways does the global marketing mix and marketing principles differs from the domestic marketing mix and principles? Answer: Both markets refer to the same marketing principles.Link: https://ielts-mentor.com/40-ielts-preparation/writing-preparation/gt-writing-preparation/gt-writing-preparation-for-task-1/441-gt-ielts-writing-task-1-preparation-part-1
- Peter F Drucker is known as the father of management. Abraham Maslow is well known for his theory of need hierarchy. Production C. The satisfaction of customer needs D. Selling products C. The satisfaction of customer needs Explanation Selling focuses on sale and profit only but marketing has broader goal. Marketing achieves his goal of profit through the customer need satisfaction. Then, it tries to fulfill i. A new product needs ideas, Developments, concepts and improvements. Sales Planning, Strategy and Implementation D. A philosophy that stresses customer value and satisfaction. View Answer D. A philosophy that stresses customer value and satisfaction Explanation Marketing mainly emphasizes on customer value and satisfaction. To satisfy customers, marketer need to offer right combination of benefits and price i.Link: https://store.collegeboard.org/sto/catalog.do?category=259&categoryName=AP%AE&secondCategory=293
- Post a Job Are you a job seeker? Find jobs A customer left a negative review of our product on a social media site. How do you respond to the customer? See answer Tell us about a product that you successfully marketed. What was your strategy? See answer In the case of the product that you successfully marketed, how did you assess the impact of the campaign? What did you learn from that? See answer Tell me about a working situation in which you had to market a product with a team of people who had very different ideas and values from you. How did you manage the situation? What is your process? See answer How do you decide which marketing channels to use for your target audience? What tools do you use to measure the impact of a marketing campaign on sales? How do you stay knowledgeable on marketing trends?Link: https://police.gov.sg/-/media/Spf/Files/TP/Online-Learning-Portal/Basic-Theory-of-Driving-11th-Edition-English.pdf
- Do you read any digital marketing publications? What is your process for researching, writing and publishing a blog post? What methods do you use to drive social media engagement? What aspect of marketing interests you most and why? How do you organize your priorities and keep clients updated? Are you comfortable balancing multiple project deadlines at once? How will you use this role to grow your skills and career as a marketer? What strategies do you use to provide effective feedback and edits to other creatives? The goal is to see how up to date the customer is regarding new innovations in the marketing field. What to look for in an answer: Can they name one or more innovative marketing tactics? Do they appear fluent in how these tactics can be implemented? Are they confident about new strategies? The goal is to understand how the candidate deals with negative press. Negative press is something any marketing strategy has to take into account and have a plan to deal with.Link: https://juryduty.nashville.gov/about-jury-duty-service/frequently-asked-questions/
- What to look for in an answer: Do they feel comfortable talking about the issue of negative attention? Are they able to produce a plan for converting negative attention to positive branding? Do they see a negative post as an opportunity rather than a setback? The goal is to have the candidate discuss his process of creating and implementing a marketing plan. What to look for in an answer: Do they have an answer ready to hand? Do they enjoy discussing the experience of deploying the strategy? Is the strategy they discuss a sound one? We created a strategy that involved physical signage and giveaways at the conference center, along with a Twitter account that posted about the next locations where customers could find our product. We integrated the campaign with general conference tweets through the use of hashtags. It was a lot of fun. The goal is to understand how the candidate quantifies success with data.Link: https://bcplinfo.overdrive.com/
- The question is designed to understand how the candidate deals with failure. What to look for in an answer: Are they overly discouraged by failure? Are they able to learn from failure? How do they creatively implement these lessons? In research done after the campaign, we learned that our sense of who the customer was inaccurate, and the true customer should be targeted differently. We adjusted our marketing language and targeted differently via ads and outreach and experienced greater success the next time. The goal is to find out how the candidate deals with people who work and believe differently than they do. What to look for in an answer: Do they exhibit an ability to bridge differences? Are they open minded? Can they grapple with and manage disagreement? The way I worked to bridge this gap was by defining what our product was together and focusing on the product rather than on our personal differences.Link: https://coursehero.com/file/83185580/Examvv5xql65856txt/
- By focusing that way, we were able to work together. The goal is to find out how the candidate changes the course of a brand. What to look for in an answer: Do they see the opportunity to rebrand as an interesting challenge? Do they have experience in rebranding? Do they have creative ideas for rebranding? We rebranded by creating a bright and cheery new logo that signaled the change in the product.Link: https://indeed.com/cmp/Lbx
- We acknowledged to customers that the product had had issues and was being reformulated, and we communicated throughout the rebrand. Customers gave us a chance, spread their satisfaction with friends and the new brand became successful. A key role of marketing professionals is to identify a target customer base and determine how to reach them most effectively. This question allows the interviewer to assess the candidate's knowledge of what marketing channels are most effective for various customer personas. Look for these elements of an effective response: An example of pairing a customer persona with a marketing channel Reference to market research Knowledge of the various marketing channels available on and offline.Link: https://studocu.com/row/document/university-of-dammam/managerial-accounting/past-exams/exam-12-may-2016-questions-and-answers/5907384/view
- An exemplary response could look like this: Example: "To decide which marketing and promotion channels to use on a new campaign, I would first study any available market research about our target audience about where they spend their time, what kinds of media they consume and what types of messaging they connect to. I would also consider fragmentation within the target audience to use a combination of channels that would capture our entire customer base. For example, when targeting a health-conscious audience, I'd use influencer marketing to connect with the younger wellness movement and community partnerships to reach an older audience.Link: https://pearsonitcertification.com/articles/article.aspx?p=101705&seqNum=5
- One thing that can be easily overlooked is preparing to actually take an exam. Giving yourself the appropriate amount of time to answer each question to the best of your ability is vital. In this example you have under two minutes for every mark available, so be concise in your answers. Read the Questions Make sure you read the questions carefully, especially if there is a case study involved or a small preamble. It is so easy to answer your own questions rather than those that are set. Planning your answers below will help. Use the Space Wisely Another useful tip when planning an answer is to consider utilising the space within the exam answer booklet. Remember to structure your answers with the use of headings to break them up into sensible sections Always start a new answer at the top of a new page, this makes it clear to an examiner where your answer starts and finishes and also provides some room at the end of each answer that, if you have time, you can come back to if required this should only be done if you feel you have the time and that all other answers are as comprehensive as they need to be.Link: https://jchristnic.org/mormon-messages-fzpuw/8e9c61-graad-9-ebw-vraestelle-en-memorandums
- Theory Without Application Applying marketing theory to real-life examples is an excellent way of highlighting your knowledge of particular areas. Do your research before the exam and start to build up a portfolio of well-executed real-life marketing projects that could be used to back up the theory in your answers. Practice Answering Past Papers They say that practice makes perfect and in this instance it couldn't be truer. Remember to plan your answers, in bullet form if necessary, taking the time to read the questions set in front of you, structuring your answers so that they are easy to read including plenty of real life examples to back up your well-known theory. Make sure that time is on your side by working out how long you have for each section and above all, good luck! This blog was created by Pete Sumpton the very knowledgable Marketing Director for moocreations.Link: https://researchgate.net/topic/Adeno-associated-Virus
- Question Answer : This is one of the crucial things to do before you appear for the interview. The question is common in the marketing interview. You should visit the profile of the company and collect the necessary information about the products and services. Give a crisp answer highlighting the existing policies of marketing for the particular product you would like to talk about. It would also be ideal to share your inputs on how the marketing mechanism may be strengthened.Link: http://catalog.wbu.edu/content.php?catoid=4&navoid=165
- The product is being nicely promoted by the use of traditional and digital media. As such it was necessary to plan out another marketing strategy that would be effective at this level. The stress was given to factors like market retention and expansion while drafting the plan. The plan was effective in strengthening the position of the product in this concerned market. In case you are asked about the name of the company then be polite and say that certain restriction are not permitting you to disclose the name of the product. The interviewer s would understand the gravity of the situation. Answer : The environmental variables that impact a marketing plan are governmental, economical, technological, legal, cultural, ecological and stakeholders.Link: https://lawrencehallofabilenetx.com/VehicleDetails/new-2021-Chevrolet-Spark-4dr_HB_CVT_1LT-Abilene-TX/4689368473
- Answer : Marketing is the exchange of product or service between the producer and consumer. It is anticipating the consumer requirements and identifying the potential market to exchange a product or service against a pre-determined value. Marketing involves a number of strategies and market players. The process is not only vital in creating a market but also in retaining the market. Answer : This is one of the common questions in a marketing interview. The interviewer s is likely to evaluate your presence of mind and also how good salesperson you are. Manages temperature and almost everything. Are You Willing To Travel? Answer : In case you have any reservation then you may share it. Get a proper understanding of things like travel duration, frequency of travel and also cost support. Answer : It is a kind of planning tool which is focused on the outcomes and needs of a campaign or a project. It is firstly designed and then implemented. During the interview the recruiter focus on how much you have researched and how detailed and precise your brief was.Link: https://justanswer.com/ford/cyjuc-2010-ford-focus-automatic-transmission-74-000-miles.html
Monday 24 May 2021
Marketing Management Sample Exam Questions And Answers
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