- •What is management? What is the difference between a manager and a leader?
- •Consider three categories of the management style.
- •What is marketing? What are the responsibilities of marketers?
- •What is Macro Environment? Consider how it affects all aspects of business.
- •Describe the microenvironmental forces. Consider how they affect all aspects of business.
- •What does a swot analysis identify? Why is it important to carry out a swot analysis?
- •What is international marketing? Describe the factors of prioritizing foreign markets for company’s entry and growth.
- •What does market segmentation identify? How does it work?
- •Define the difference between segmentation in b2b market and that of b2c market.
- •Describe a company's marketing strategies.
- •What is market research? Why do companies do it? Overview the market research process.
- •Give a description of the market research methods.
- •Primary and secondary research
- •Primary research
- •Secondary research
- •Quantitative and qualitative research
- •Quantitative research
- •Qualitative research
- •What is the role of the marketing mix? Describe the Ps and Cs of the marketing mix.
- •What does the term “a product” cover? Give a product description and features using a particular example.
- •Describe the stages of plc.
- •What is branding? What is the difference between a product and a brand? Speak about brand values.
- •What is the aim of promotion? Describe the elements of the promotion mix.
- •Speak about advertising as one of the promotional tools.
- •What is the difference between Personal selling and Sales promotion?
- •What are the advantages and the disadvantages of Public Relations? Why do marketers tend to underuse it?
- •Why are pricing decisions so important?
- •What are the fundamentals of the supply chain management?
- •What are the current issues related to logistics?
- •Illustrate how people contribute to the development of an organization.
- •What do you know about motivation marketing?
- •Describe the factors of the physical evidence.
- •Evaluate both positive and negative aspects that can be associated with physical evidence.
- •Explain the various attributes that comprise packaging.
- •How has packaging developed over the past 100 years?
- •Describe the key types of processes that are used within the marketing concept.
Describe a company's marketing strategies.
Marketing strategies are ultimately designed to increase market share for a company and its brands, using a range of marketing tactics to accomplish specific goals for new customer acquisition and increased customer loyalty. In a number of situations, a small business owner or manager can be required to describe a marketing strategy to an internal or external stakeholder, such as a loan officer, an investor or marketing employees. Knowing how to effectively communicate the details of a marketing strategy is the key to bringing people on board with your initiative.
1. Convey a bit of information about your company, its products and services and your marketing goals to add relevance to the remainder of your strategy. Describe your company's strategic vision and the reason you chose to enter your industry. Tell your listeners what you hope to accomplish with your products and services aside from generating a profit; reveal the needs that your company serves and the benefits your products provide.
2. Describe your market segmentation strategy, listing the unique characteristics of your target market. Discuss the demographic characteristics of your target market, including age ranges, income levels, educational status and any ethnic considerations. Describe your target customers' behavior and psychographic attributes, including their preferred shopping methods, the importance they place on social status and how well they identify with specific social niches.
3. Explain the nature of the competition in your industry. List your major competitors and compare their products and services to your own. Focus on the weaknesses you plan to take advantage of in your competitors but do not neglect to discuss their individual strengths and competitive advantages. Show that you are fully informed about what each of your competitors is doing to give your listeners confidence that your marketing strategies will keep you one step ahead of the competition.
4. Describe your strategies for advertising, promotions and public relations. Discuss the form of your advertisements and show samples to your listeners if at all possible. Discuss the breadth of your advertising campaigns, including the geographical reach, the number of advertising outlets used and the frequency that your target market will be exposed to your ads during the campaign. Describe your plans for using price promotions and loyalty programs to encourage first-time customers or repeat visits. Reveal how your planned public relations activities will reinforce your brand image and act to increase brand awareness.
5. Explain your strategies for sales, customer service, pricing and packaging. Discuss your sales model: whether you will sell goods in person, online, over the phone or a mixture of the three. Explain how you will deliver customer service, as well as your customer service philosophy. Discuss how your pricing models and product packaging reinforce your brand image and appeal to your target market.
6. Walk your listeners through your marketing budget. Even if your listeners are impressed by your plans and tactics, most will still want to be sure you understand how much your strategy will cost. Discuss your direct costs for advertising, sales promotions and public relations. Briefly describe your total labor costs for marketing personnel and any consultants' fees. Lay out the costs for any primary market research you conducted in developing your strategy, as well as the unit cost and profit margins on your products.