Marketing Concepts Interview Questions & Answers

  1. Question 1. What Is Markeing Concepts?

    Answer :

    The marketing concept is the philosophy that firms should analyze the needs of their customers and then make decisions to satisfy those needs, better than the competition. Today most firms have adopted the marketing concept, but this has not always been the case.

  2. Question 2. What Are The Different Types Of Marketing Concepts?

    Answer :

    There are 5 different concepts of marketing, each of which vary in the function that they deal with.

    1. Production concept.
    2. Product concept.
    3. Selling concept.
    4. Marketing concept.
    5. Societal marketing concept.
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  4. Question 3. Explain Production Concept?

    Answer :

    The production concept prevailed from the time of the industrial revolution until the early 1920’s. The production concept was the idea that a firm should focus on those products that it could produce most efficiently and that the creation of a supply of low­cost products would in and of itself create the demand for the products. The key questions that a firm would ask before producing a product were:

    • Can we produce the product?
    • Can we produce enough of it?

    At the time, the production concept worked fairly well because the goods that were produced were largely those of basic necessity and there was a relatively high level of unfulfilled demand. Virtually everything that could be produced was sold easily by a sales team whose job it was simply to execute transactions at a price determined by the cost of production. The production concept prevailed into the late 1920’s.pt

  5. Question 4. Explain Product Concept?

    Answer :

    Consumers favor products that offer the most quality, performance, or innovative features. The product concept believes in the consumer and it says the consumers are more likely to be loyal if they have more options of products or they get more benefits from the product of the company.

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  7. Question 5. Explain Selling Concept?

    Answer :

    Selling Concept – Consumers will buy products only if the company aggressively promotes or sells these products. Off course, in this era of marketing, we know that selling is not the only tactic to sell your product. You have to focus on marketing as well. 

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  9. Question 6. Explain Marketing Concept?

    Answer :

    Focuses on needs/wants of target markets & delivering value better than competitors. The marketing concept believes in the pull strategy and says that you need to make your brand so strong that customers themselves prefer your brand over every other competitor. This can be achieved through marketing.

  10. Question 7. Explain Societal Marketing Concept?

    Answer :

    Focuses on needs / wants of target markets & delivering value better than competitors that preserves the consumer’s and society’s well-being.

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  12. Question 8. What Is Holistic Management?

    Answer :

    Holistic Management is a whole farm planning system that helps farmers, ranchers and land stewards better manage agricultural resources in order to reap sustainable environmental, economic, and social benefits.

  13. Question 9. What Is A Holistic Approach To Business?

    Answer :

    A holistic view means that we are interested in engaging and developing the whole person. You can think of this as different levels, physical, emotional, mental and spiritual. It’s the concept that the human being is multi-dimensional. We have conscious and unconscious aspects, rational and irrational aspects.

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  15. Question 10. What Is A Holistic Analysis?

    Answer :

    1: of or relating to holism.
    2: relating to or concerned with wholes or with complete systems rather than with the analysis of, treatment of, or dissection into parts.

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  17. Question 11. What Is Meant By The Term Holistic Development?

    Answer :

    Holistic development is a process of self-actualization and learning that combines an individual’s mental, physical, social, emotional and spiritual growth. The term can be used to describe forms of alternative education that are based on the more humanistic and democratic outlooks.

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  19. Question 12. What Is Performance Based Advertising?

    Answer :

    Performance-based advertising, also known as Pay for performance advertising is a form of advertising in which the purchaser pays only when there are measurable results.

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  21. Question 13. What Is A Digital Performance?

    Answer :

    Digital Performance is a very wide category filled with a range of productions, it is a generic performance but with an extra element of incorporating and integrating computer technologies and techniques into the production.

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  23. Question 14. What Is Performance Marketing Concept?

    Answer :

    Performance Marketing is a comprehensive term that refers to online marketing and advertising programs in which advertisers and marketing companies are paid when a specific action is completed; such as a sale, lead or click.

  24. Question 15. What Is A Holistic Approach To Marketing Services?

    Answer :

    A Holistic Marketing approach looks at your whole business (people, processes and products) and tailors a solution to align systems, services and customer touchpoints, so that consumers’ experience of your brand is seamless and consistent across all channels.

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  26. Question 16. What Is The Holistic Marketing Concept?

    Answer :

    “A holistic marketing concept is based on the development, design, and implementation of marketing programs, processes, and activities that recognize their breadth and interdependencies.”

  27. Question 17. What Is A Sales Promotion?

    Answer :

    Sales promotion is the process of persuading a potential customer to buy the product. Sales promotion is designed to be used as a short-term tactic to boost sales – it is rarely suitable as a method of building long-term customer loyalty. Some sales promotions are aimed at consumers.

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  29. Question 18. What Is The Concept Of Sales?

    Answer :

    It is a concept or an idea which lays emphasis on the sale of goods and services and not the underlying need or want, and it does not really matter whether the products are actually needed by the customer or not. The focus is on sales (profit) first and then on marketing.

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  31. Question 19. What Is The Production Analysis?

    Answer :

    Production Analysis Production is transformation activity that connects factor inputsand outputs. For example, a farmer uses land, labor and seeds as inputsto transform them into corn. An input refers to any good or service thatassists in producing an output.

  32. Question 20. What Is Short Run Production Function?

    Answer :

    The short run production production assumes there is at least one fixed factor input. Production Functions. The production function relates the quantity of factor inputs used by a business to the amount of output that result.

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  34. Question 21. What Is Meant By A Homogeneous Production Function?

    Answer :

    The Linear Homogeneous Production Function implies that with the proportionate change in all the factors of production, the output also increases in the same proportion. Such as, if the input factors are doubled the output also gets doubled. This is also known as constant returns to a scale.