1. Tell us what do you know about strategic marketing?
Strategic marketing is a process of identification of one or more sustainable competitive advantages a firm has in the markets it serves (or intends to serve), and allocation of resources to exploit them.
2. As a marketing executive what do you think budgeting involves what Objective and Task method?
- Determining our own objectives and deciding what tasks we need to carry out.
- Determining what the consumer’s objectives are, and deciding what tasks we need to carry out to meet those objectives.
- Finding out what the competitors’ objectives are and deciding what tasks they will be carrying out.
- Determining the marketing budget for promotional activities.
3. Give us an example of a marketing brief you developed for a recent marketing project?
The marketing brief can be viewed as a planning tool for designing and implementing a marketing program. Writing a brief is about clarifying the outcomes of the project and providing focus on what needs to be achieved. Common elements include marketing objectives, primary audience and target market, attitudes and behaviour of the target market.
4. What factors do you consider the most important when attempting to influence consumer behaviour?
“Most common factor that can influence consumer behaviour is social, demographic, cultural and economical and psychological.
5. What are the biggest challenges a Marketing Manager faces today?
The biggest challenge is being, and remaining, relevant to their consumers. The economy has exacerbated this as what consumers want from their brands has changed and they have become more willing to look beyond their old tried and true to cut costs. Consumers have a lot of options and if your company hasn’t continued the dialogue and continued to show consumer why they are relevant, they will get replaces.
6. Tell us what do you think are the major stages in new product development?
“New product development starts with an idea, generation followed by idea screening than comes concept development and testing. Marketing strategy plays a significant role in developing a product. After that a review of the sales, costs and profit projections for a new product to find out whether the product development and launch will be a successful one or not “
7. What are the two broad product pricing strategies are?
Pricing strategies usually change as the product passes through its life cycle. Companies can choose any one of the following pricing strategy:
“Market skimming where high initial prices are charged due to uniqueness of the product.”
Or “Market penetration where lower prices are charged in order to gain greater market share.”
8. Discuss how companies can react to the marketing environment?
“Well I think marketing environment is an uncontrollable element. So companies can passively accept this fact to adapt, avoid threats and taking advantage of opportunities as they arise.”
9. As a Marketing Executive outline the steps in the marketing research process?
“Marketing research process involves defining the problem and setting the research objectives. Develop a research plan for collecting data from different effective resources. After that calls for implementing the marketing research plan by gathering, processing and analysing the information. Interpreting and reporting the findings is also one of the important steps.”