Q1. Define marketing
Marketing is the process of meeting customer needs and wants through the creation, promotion, and distribution of products or services. Its goal is to increase demand and revenue.
Q2.What do you understand by buyer motive
Buyer motive is the underlying reason for a purchase decision, such as fulfilling a need or want. Understanding it helps businesses tailor their marketing strategies to meet customer needs and increase the chances of converting potential customers into buyers.
Q3.What is product mix
Product mix is the set of products and product lines that a company offers to its customers, including variations in size, color, flavor, packaging, and features. It's important for meeting customer needs and maximizing revenue and profitability.
Q4.What is sales promotion
Sales promotion is a marketing technique that offers incentives to stimulate sales and customer demand. It creates urgency and encourages customers to buy a product or service. It's a short-term strategy to boost sales and attract new customers.
Q5. What is market targeting
Market targeting is the process of selecting specific customer segments to focus on and serve. It helps businesses allocate resources effectively and tailor marketing strategies to meet the specific needs of those segments, resulting in better customer engagement, loyalty, and revenue growth.
Q6. What do you mean by skimming pricing
Skimming pricing is a pricing strategy in which a company sets a high price for a new product or service to maximize revenue from early adopters or those willing to pay a premium.
Q7. What is branding
Branding is the process of creating a unique identity for a product or service that distinguishes it from competitors in the marketplace.
Q8. Who is a wholesaler
A wholesaler is a middleman who purchases goods in bulk from manufacturers and sells them in smaller quantities to retailers.
Q9. What is consumerism
Consumerism is a social and economic movement that advocates for consumer rights and interests, aiming to ensure access to safe, affordable, high-quality goods and services and to hold businesses accountable.
Q10. What is green marketing
Green marketing is marketing efforts that promote environmentally friendly products, services, or business practices.
Q11. What are the differences between selling and marketing
Selling is pushing products to customers to maximize sales, while marketing attracts and understands customers to maximize satisfaction. Selling is short-term to close deals, while marketing is long-term to build relationships and create value for customers. Selling is product-oriented, while marketing is customer-oriented.
Q12.How socio-cultural environment affect the marketing decision
The socio-cultural environment shapes customer attitudes, beliefs, and behaviors and influences marketing decisions. Businesses must adapt to these cultural influences to create effective marketing strategies that meet customer needs and preferences, or risk losing sales and damaging their brand.
Q13. What is positioning
Positioning is creating a unique image for a product or brand by identifying key benefits and communicating them effectively to the target audience. The goal is to differentiate the brand from competitors and create a memorable brand identity.
Q14. What is product differentiation
Product differentiation is making a product unique by developing features and attributes that set it apart from competitors, such as design, quality, branding, packaging, and customer service. The goal is to create a competitive advantage and increase customer loyalty.
Q15.What are the differences between packing and packaging
Packing is putting products into containers, while packaging is designing and producing materials to protect, promote, and sell the product. Packing is practical, while packaging is strategic.
Q16.What do you mean by non store retailing
Non-store retailing is selling goods and services without a physical store or shop, through methods such as e-commerce, vending machines, and door-to-door sales. It's popular due to convenience and cost-effectiveness.
Q17 .What do you understand by public relation
Public relations (PR) is building positive relationships between an organization and its stakeholders, promoting the organization's reputation, and managing negative publicity or crises.
Q18.What is social marketing
Social marketing promotes social or behavioral change using marketing strategies to address social issues, by influencing people's attitudes, behaviors, and beliefs. It encourages voluntary and long-term behavior change by understanding target audience needs, desires, and values.
Q19.What are the shopping goods and convenience goods
Shopping goods require time and effort to compare and evaluate before purchase, such as clothing and electronics. Convenience goods are bought frequently with minimal effort, such as groceries and personal care items.
Q20.What is odd pricing and dual pricing
Odd pricing uses prices ending in "9" or "5" to create a perception of a lower price and increase sales.
Dual pricing charges different prices for the same product based on customer location, type, or time of purchase. It is often used in tourism or entertainment industries.