Top Best MBA Marketing Interview questions and Answers
Check the latrest top MBA Marketing Interview Questions and Answers. If you want to download pdf file check Below.
List of MBA Marketing Interview Questions and Answers
- What are the keys to ensuring marketing success?
Some of the Keys to ensure marketing success include :
- The most important criteria is to “satisfy the customer”.
- A company should have a clear marketing image to achieve success.
- The work that is being done should be distinct from other business activities in an organization. It should be the main focus of the entire organization.
- The business should be developed by employing a unique strategy. This should be consistent with the company strategy.
- What are the components of marketing management?
The components of Marketing management are
- At the Corporate level the components include the mission and objectives of the company.
- At the Functional level, it includes Non-marketing and marketing strategies.
- At the Marketing level, it is composed of various steps like situation analysis, objectives, strategy, implementation, budget, and evaluation.
- The process of manufacturing product, distribution, promotion, and price constitutes the marketing mix.
- What is the meaning of Service marketing?
The marketing of services is defined as Service marketing.
- What is meant by a service?
The use of the service does not differ from its purchase. A service can never be touched, seen, heard, tasted, or smelled. The use of service is subjective. If many people are using services, each of them will have a unique experience.
- Mention the current approaches used for the process of marketing?
Some of the approaches used for marketing are:
- In Relationship marketing, the focus is on achieving customer satisfaction. A great deal of emphasis is given to the relationship between suppliers and customers.
- In Business Marketing, the focus is not on consumer products. The emphasis is on industrial goods. All methods of marketing techniques such as promotion and advertising are employed in this approach.
- In Social marketing, the focus is on marketing a product online.
- What is the meaning of an International marketing plan?
International marketing plans enable the company to make more than one marketing decision which is similar for all the nations. large market size and diversification are some of the reasons to enter an international market.
The stages of going international include exporting, obtaining licenses, agreements about joint ventures, direct investment, and forming alliances.
- What is meant by marketing communication?
Marketing communication refers to the efforts made by the seller to convey his message to his buyers and to accept it in retrievable form. The main tool of the communication process is persuasion. It is not a spontaneous activity and it is goal-oriented. Each tool used is highly complex.
- What are the various methods employed in marketing research?
Various methods of marketing research are:
- Field research refers to the research for a specific purpose by going out and meeting all the individuals associated with the project.
- Desk research is generally conducted for the major goal initially but gradually it is used to support other projects.
- Exploratory research is employed for the investigation of an assumption.
- Predictive research is done to predict any future occurrence.
- Conclusive research is carried out to derive a conclusion of the research process.
- What is meant by real-time marketing? State its importance?
The marketing methodology that is employed for a customer in a given particular time and place is known as real-time marketing. This method is marketing selects the most appropriate offer for a particular customer according to the individual needs and preferences. Real-time marketing is mainly applicable to vendors and maturing customers. Vendors use the process of re-branding real-time marketing products.
- What is the meaning of interruption marketing?
The different ways of promoting a product by using advertising, public relation and sales are known as interruption marketing. It does not guarantee suitable results every time. Its outcome also varies from company to company. Interruption marketing is essentially sales directed. This method is best suited for a company that has limited funds to invest in advertising and wants quick results.
- What are the main differences between Interruption marketing and permission marketing?
Permission marketing is founded by the customers by itself. They can utilise the services of SEO, social media and online content for this purpose. Its aim is to forge long term relationships with customers. Interruption marketing focuses on getting quick sales. It does not take into consideration maintaining a long term relationship with customers. The main purpose of interruption marketing is to promote the product by using methods like advertising and promotion.
- Explain the meaning of diversity marketing?
The main focus of diversity marketing is to create effective communication methods. It involves mixing with each of the diverse groups that are actively involved in the market. As different consumer groups have different experiences in various cultural and social settings, diversity marketing identifies the importance of cultural programming. It also acknowledges the needs of consumers. All these differences require the creation of differently customised marketing strategies.
- What is meant by ethical marketing?
Taking into consideration the importance of marketing ethics in the process of marketing is known as ethical marketing. It also takes into notice specific marketing issues that are matters of moral judgment. Using the approach of ethical marketing results in the formation of a business community that is much more socially and culturally responsible.
- What is the meaning of a segmented market?
Segmenting market refers to the process of segmenting the customer and organizations. This method enables each segment to be recognized and fulfilled properly. In this approach, there is no need to sell the product to all segments of the market. Success can be achieved by focusing on a particular segment.
- What is the aim of doing segmentation analysis?
The main aim of carrying out segmentation analysis is:
- To reduce the risk that involves the process of decision making. This involves how, who, when and where to market a product, service or brand.
- To increase the efficiency of marketing by focusing on a particular segment consistently.
- What are the important segmentation strategies that are used by marketing organizations?
The main strategies that are used by the marketing organisations are:
a.Concentration strategy focuses on a particular segment of the market. The company set their prices according to the demand in that segment.
b.Multi-segment strategy focuses on more than one different market segment. The company creates separate marketing programs for separate segments.
MBA Marketing Interview Questions and Answers PDF Download