1. What is the difference between Sales and Marketing
The major difference between sales and marketing is that the sales is refer to the conservation of assets by advertising products while marketing is a mechanism through which these sales mechanism are introduce to the general market and the way through which the product is introduce in the market to increase sales. Therefore marketing can be considered as an integral part of sales as it directly influence the amount of sales a company process and makes.
Sales and marketing are interrelated to each other. Both terms are associated with the products which are promoted and sold at different business and commerce associations.
2. What is FMCG?..what are the driving forces of this sector
FMCg stands for Fast moving goods. The main players include P&G(Procter and Gamble),Cadbury, Nestle, Johnson and Johnson etc
3. What is promotion?
It’s a means by which the organization or set of organizations (go-betweens) is involved in the process of making a product or service available for use or consumption by a consumer or business user. It’s a major component of the Marketing Mix.
4. What are the 4-Ps of Marketing
- Product
- Price
- Promotion
- Place
5. Compare market share Vs Wallet Share
Market share refers to the percentage of your presence with respect to the entire market.
Wallet share refers to the percentage this entity is bringing in to your pocket with respect to the entire portfolio of entities in your kitty. A High market share doesn’t mean a huge wallet share and vice versa.
Eg: My business has Product A and B, A has a market share of 15% in India, where as B has a share of 8%.But B” being a highly prices, premium product, my profit margin is huge from ‘B” and hence my wallet share is mostly coming from “B”.
6. What is Skimming.
Price skimming is a pricing strategy in which a marketer sets a relatively high price for a product or service at first, then lowers the price over time.EG. Apple iPhone, Playstation3 etc
7. What is PUSH and PULL STRATEGY?
In a "pull" system the consumer requests the product and "pulls" it through the delivery channel. In push system the seller/shopkeepers push their products to the customers with help of offers and other promotions
8. What are the deciding factors of pricing.
The floor price is determined by production factors like costs , economies of scale, marginal cost, and degree of operating leverage.
The price ceiling is determined by demand factors like price elasticity and price points
9. Explain the understanding of an individual Brand
Examples, Unilever's Dove, P&Gs Pampers etc. The individual brands are presented to consumers, and the parent company name is given little or no prominence. Other stakeholders, like shareholders or partners, will know the producer by its company name.
10. What is IMC?
IMC stand for integrated marketing communications. A management concept that is designed to make all aspects of marketing communication such as advertising, sales promotion, public relations, and direct marketing work together as a unified force, rather than permitting each to work in isolation
