Marketing and Sales Questions

Q:

What is cross - selling and up - selling?

Answer

An up - selling is getting the customer to spend more money, buy a more expensive model of the same type of product, or add features or warranties that relate to the product viewed or purchased. 


A cross - sell is to get the customer to spend more money by adding more products from other categories than the product being viewed or purchased. 

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Q:

Managing direct and online marketing :

What is online marketing? Give examples.

Answer

Online marketing is the exchange of products and services between the buyers and sellers on the internet.It is also known as e-marketing or internet marketing or online advertising. It may take the form of : 


a.B2C where the products are sold directly to the customers. 


b.B2B where trading networks or auction sites maybe used to reach out to the new customers and serve the existing one


c.C2C where one customer may further sell the product to another customer.


Examples of online marketing may include banner ads, blogs, social network advertisement.

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Q:

What is market outlook?

Answer

It refers to a forecast regarding the future trend of a particular company, economic segment, Commodity or stock market exchange. Market outlooks are based upon past performance, prevailing economic factors, consumer demand and opinion.It is also called market forecast.

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Q:

Managing advertising, sales promotion and public relations :

what is public relations in marketing?

Answer

Public relations includes promotional activities that work to create a strong public image of the company. Public relations activities include helping the public to understand the company and its products. Public relations if done right can reach a large audience without the expensive cost of traditional advertising and marketing.

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Q:

Selecting and managing marketing channels :

On what criteria can channel members be evaluated for their proper selection?

Answer

The SCPCA method can be used to evaluate channel members.


a) Sales (S): How much sales each channel member can give within a cetain time frame


b) Cost(C): How much cost would be incurred for each channel?


c) Profitability(P): Which channel can give better profitability to the company?


d) Control(C): Whether company can have better control over its channel members or not.


e) Adaptability (A): Whether the channel alternatives are flexible enough to any changes or not. The channel meeting the objectives of the company is selected

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Q:

Marketing organisation:

As a consultant, what advice would you give a company while setting up its marketing department?

Answer

As a consultant , I would:


• Recommend structuring of the marketing department as per the demands of the different tasks, roles and responsibilities keeping in mind the cost(budget) factor as long as it fits within the budget of the company.


• Finding out and establishing the level of skills, duties and responsibilities of the employees via job descriptions and job specifications.


• Proper and regular supervision of the department to ensure its smooth functioning


• Determine the marketing functions of the department as per the requirements (advertising,distribution channels,promotional activities)

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Q:

Managing the sales force :

For a new salesperson, what are his training needs?

Answer

New salespersons needs:


a) He needs to know the information on company history, its policies, rules and regulations etc.


b) Details about the product- its features, usage , demand.


c) Systems and procedures as followed by the company. This may include the work timings, overimed, field work, work culture of that particular organisation etc.


d) Training on the basic ethics that need to be followed while selling a product.


e) He must know the basics of selling the different products of the company.

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Q:

What is marketspace?

Answer

Marketspace refers to an information and communication based electronic exchange environment. It is a relatively new concept in marketing. Since physical boundaries no longer interfere with buy/sell decisions, the world has grown into several industry specific marketspaces which are integration of marketplaces through sophisticated computer and telecommunication technologies.

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