1. What Is the Difference Between Marketing a Product and Service?
There is a difference between marketing a tangible product and a service. When you market a product, the focus is on Product, Price, Place, and Promotion. However, when you sell services, the significance of the Four Ps (Product, Price, Place, and Promotion) is evident, but there are some additional elements like People, Physical evidence, and Process that need to be considered.
The product is tangible which means it can be felt by the senses whereas a service is intangible, so physical evidence is an important factor when marketing a service. The candidate you are interviewing should be able to explain the difference between marketing a product and a service.
2. What Is Branding?
Branding refers to creating an identity (for a product or service) which can be a name, design, or a symbol that helps differentiate your product from other similar products. The candidate should know the different branding strategies ( vitamintalent.com/what-we-do ) used by leading marketing companies.
A good marketer would combine all the components of your company’s character and use them successfully to connect with consumer needs, emotions, and competitive environments. If the potential candidate mentions your company’s name, logo, website, or product as a brand, it is a red flag. Remember, the brand is an intangible thing, and the candidate should have this basic knowledge of branding.
3. What Is Value-Based Pricing?
One of the most important marketing interview questions that you need to ask every candidate about, value-based pricing refers to a strategy where the price is not the estimated value perceived by the customer but based on the cost of the product. In B2C markets, the marketing and sales department should work together to determine a value-based pricing mechanism.
You need to perform basic research to know the impact the product has on the end user. The candidate should have knowledge about market research to gain valuable inputs from the target customer base.
4. What Is A Horizontal Marketing System?
Horizontal marketing system refers to a distribution channel arrangement where two or more organizations come together for marketing purpose and tap new business opportunities. For example, a bank and a supermarket launch a new shopping card with the logo of both businesses.
In such an arrangement, the special card helps the customers earn more benefits when used in the supermarket (partner). Only a marketer who has worked at the higher position would be able to explain the HMS model.
The most important marketing interview questions listed here should be part of all interviews for marketing positions. You can add a few more questions based on the marketing job profile that you are hiring for.
Do you have any questions you like to ask your marketing candidates? Please feel free to share.