Marketing
Why is market research necessary?
Necessary to understand consumer behavior, analyze competitors, and reduce the risk of business failure.
What is a sales pitch?
A quick speech or presentation intended to persuade someone to buy a product or service.
What is a company profile? What information should it include?
A formal summary of a business, including its history, activities, and goals, used to inform investors or clients.
What are the rules of a successful job interview?
Research the company, arrive on time, dress professionally, listen actively, and ask thoughtful questions.
What is the principle of an income statement?
It records a company's revenues and expenses over a specific period to show net profit or loss.
What is a target audience? What are its characteristics? Why do businesses need “Buyer Persona” profiles?
TA is the broad group of potential customers. A Buyer Persona is a semi-fictional, detailed profile of a specific "ideal" customer.
What are the five stages of a sales process?
1. Prospecting/Contact, 2. Discovery (Needs assessment), 3. Presentation, 4. Handling Objections, 5. Closing.
What is a SWOT-analysis? Why do businesses need it?
An assessment of Strengths, Weaknesses, Opportunities, and Threats. It helps businesses strategize effectively.
What is an organizational chart? What does it show?
A diagram showing the internal structure of a company, including roles and who reports to whom.
Why is ROI usually calculated? What is its formula?
Return on Investment calculated to see how efficient/profitable an investment is. (Net profit / cost of investment) x 100%
What is a marketing mix (4Ps)?
Product, Price, Place, and Promotion.
Is sales easy or difficult? Why?
Often considered difficult because it requires high emotional intelligence, resilience against rejection, and strong persuasion skills.
What is demand? What is supply?
Demand is the quantity of a product consumers are willing to buy; Supply is the quantity producers are willing to provide.
What do you know about business etiquette?
The code of polite behavior and professionalism in a workplace (e.g., punctuality, appropriate dress, respectful communication)
What is the difference between "Profit" and "Cash Flow," and why can a profitable company still go bankrupt?
Profit is the money left after expenses on paper; Cash Flow is the actual cash moving in and out of the bank. A company can be profitable but go bankrupt if it lacks "liquidity"—meaning its money is tied up and it cannot pay its immediate bills.
What are the tasks of marketing?
Identifying customer needs, developing products, setting prices, and promoting the brand.
What pricing strategies do you know?
Penetration pricing, Skimming, Premium pricing, and Psychological pricing.
What are the main four functions of management?
Planning, Organizing, Leading (Motivating), and Controlling
Give any example of an ethical business decision. Give any example of an unethical business decision? How do you understand business ethics?
An ethical decision is fair and honest (e.g., transparent pricing); an unethical decision exploits others (e.g., false advertising).
What types of financial statements do you remember?
Balance Sheet, Income Statement, and Cash Flow Statement.
What are the two descriptions that any marketing strategy should contain?
Should contain a description of the Target Market and the Marketing Mix (4Ps)
What is an elevator pitch? When is it used? What are some tips for it?
A 30–60 second summary of an idea/business. Tips: Be clear, focus on the problem/solution, and have a "call to action."
Describe the law of rising necessities. Why is it the driving force of the human progress? Give any practical example
The theory that as soon as one human need is met, new, higher-level needs emerge. It drives progress by forcing innovation to meet ever-evolving demands.
What information should a resume contain? How is it different from CV?
Contact info, Work experience, Education, and Skills.A CV is a longer, comprehensive document that details your entire career history.
What is a breakeven point? Why do businesses need breakeven analysis? What is its formula?
The point where total costs and total revenue are equal. Fixed Costs / (Price - Variable Costs)