Questions on Marketing 1-10

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

Questions on Branding 1-10

1. How do you define a BRAND!

A brand is a name, sign, symbol, slogan or anything that is used to identify and distinguish a specific product, service, or business. Each and every person is a brand by itself.

2. What is Brand Parity

Brand parity is the perception of the customers that all brands are equivalent

3. Define co-branding

Co-branding, also called brand partnership, is when two companies form an alliance to work together, creating marketing synergy

4. Define Derived branding

When a supplier of a key component, when being used by a number of suppliers of the end-product, may wish to guarantee its own position by promoting that component as a brand in its own right. Example is Intel, which secures its position in the PC market with the slogan "Intel Inside".

5. Define Brand equity

Brand equity is an intangible asset made out of the BRAND.

- It can be leased or sold
- It increases the cash flow by increasing market share , reducing promotional costs etc
- It allows premium pricing

Brand equity can be measured by – determining the premium a brand commands over a generic product. This can be used for brand extensions and sub-branding where in its leveraging on the already existing brand name. Strong brand equity means a good Brand loyal customer base.

6. Define Brand Architecture.

Brand architecture is the structure of brands within an organizational entity. It is the way in which the brands within a company’s portfolio are related to, and differentiated from, one another.

7. What are the levels of brand architecture

There are three key levels of branding:

· Corporate brand/ umbrella brand/ family brand
· Endorsed brands, and sub-brands
· Individual product brand

8. Explain the understanding of Corporate brand

Examples include TATA, Virgin Group etc.
These are consumer-facing brands used across all the firm's activities, and this name is how they are known to all their stakeholders – consumers, employees, shareholders, partners, suppliers and other parties. These brands may also be used in conjunction with product descriptions or sub-brands: for example TaTa Steel,Tata Nano

9. Explain the understanding of Sub-brand

Examples include Nestle KitKat, Cadbury Dairy Milk etc. These brands include a parent brand - which may be a corporate brand, an umbrella brand, or a family brand - as an endorsement to a sub-brand or an individual product brand. The endorsement should add credibility to the endorsed sub-brand in the eyes of consumers.

10. What is “no- Brand” branding

· A number of companies have successfully pursued "No-Brand" strategies by creating packaging that imitates generic brand simplicity. Examples include the Japanese company Muji, which means "No label" in, and the Florida company No-Ad Sunscreen.

· This no-brand strategy means that little is spent on advertisement or classical marketing and Muji's success is attributed to the word-of-mouth, a simple shopping experience and the anti-brand movement.

· No brand" branding may be construed as a type of branding as the product is made conspicuous through the absence of a brand name.