How to Ace a Marketing Interview

1. How to Acea Marketing Interview

2. I hope he doesn’t waste half of my day! • Professional background • Olin History • Do I have to listen to a boring lecture? • Golf Analogy • School Disclaimer • Respect for Intellectual Property Rights • Note-taking • Thank you! Who is this guy?

3. Brand Management Product Management Pricing Marketing Research/Consumer Insights Business Development Sales Advertising/Communication Shopper insights Customer Business Development Marketing Roles

4. Problem solving • Uses rigorous logic and methods to solve difficult problems with effective solutions; probes all fruitful sources for answers; can see hidden problems; is excellent at honest analysis; looks beyond the obvious and doesn’t stop at the first answer. • Interpersonal Savvy • Relates well to people up, down and sideways, inside and outside the organization; build appropriate rapport; builds constructive and effective relationships; uses diplomacy and tact; can diffuse even high tension situations comfortably. • Building effective teams • Blends into teams when needed; creates strong morale and spirit in her/her teams; shares wins and successes; fosters open dialogue; lets people finish and be responsible for their work; defines success in terms of the whole team; creates a feeling of belonging in the team. • Idea Leadership • Establishes and communicates a strategic direction; creates an environment that encourages and reinforces breakthrough thinking; generates ideas that will take advantage of emerging opportunities; moves ideas forward. • Learning • Embraces continuous learning and renewal; has an affinity for discovering new ideas, experimenting to learn and acquiring knowledge. Kraft Marketing Competencies

5. High Business IQ Analytical Skills Strong Marketing Intuition Passion for marketing (consumer or generally what you do) Additional Competencies

6. Small talk Outline of Interview Behavioral/Experiential/Open-ended questions Marketing mini-case questions Next Steps Opportunity for interviewee to ask questions Standard Marketing Interview

7. Behavioral • Past behaviors are predictive of success • Analytical Thinking, Creative Problem Solving, Leadership, Team Playing, Strategic Thinking, Communication, Persuasive Selling, Adaptability, Critical Thinking, Emotional Intelligence, etc. • Tell me about your biggest failure as a leader? • Follow-up -- Why did you fail? What did you learn from it? How could you have prevented it? When did it happen? Why do you consider it to be a big failure? • Give me an example from your professional experience of a time when you demonstrated that you are a great team player? • Follow-up – What was your role on the team? What would you have done if you had been leading the project? Interview Techniques

8. Behavioral • Past behaviors are predictive of success • Experiential • Understanding the extent, significance and relevance of a candidate’s experience • I see on your resume you achieved “x,” can you tell me about that? • What was your most significant accomplishment at “x?” • What kind of analysis did you have to use to complete the “x” project? Interview Techniques

9. Behavioral • Past behaviors are predictive of success • Experiential • Understanding the extent, significance and relevance of a candidate’s experience • Open-ended • How does a candidate think/What does a candidate think is important • What questions can I answer for you? • Tell me about yourself? • Walk me through your resume. Interview Techniques

10. Behavioral • Past behaviors are predictive of success • Experiential • Understanding the extent, significance and relevance of a candidate’s experience • Open-ended • How does a candidate think/What does a candidate think is important • Mini-case • How well does a candidate understand marketing • What new CPG product that’s launched in the past 3 years has most impressed you? What consumer insight do you think led to it’s introduction? What are some of the success and failures of this effort? Interview Techniques

11. Use the S*T*A*R model • Situation/Task -- 25% • Action -- 65% • Result -- 10% Acing Behavioral Questions

12. Four volunteers • Process for answering questions Sample - Behavioral Questions

13. First volunteer - What’s the biggest obstacle you’ve overcome to achieve success? • Use the S*T*A*R model • Situation/Task -- 25% • Action -- 65% • Result -- 10% Sample - Behavioral Questions

14. What’s the biggest obstacle you’ve overcome to achieve success? • Second volunteer - Describe a professional or academic experience where persuasive and critical thinking skills were important to a positive outcome. • Use the S*T*A*R model • Situation/Task -- 25% • Action -- 65% • Result -- 10% Behavioral Questions

15. Third Volunteer - Tell me what you think is your greatest leadership accomplishment? • Use the S*T*A*R model • Situation/Task -- 25% • Action -- 65% • Result -- 10% Behavioral Questions

16. Fourth Volunteer - Tell me what you think is your greatest leadership accomplishment? • Use the S*T*A*R model • Situation/Task -- 25% • Action -- 65% • Result -- 10% Behavioral Questions

17. Understand what leadership is/isn’t • Manager vs. Leader • Problem solver? Acing leadership questions

18. Understand what leadership is/isn’t • Know the critical skills • Visionary/Strategic Thinker • Sees a strategic goal and creates a path • Initiator • Recognizes opportunities before things are a problem • Motivator • Gains buy-in from team members • Team Builder • Identifies the needs of a team • Matches roles/assignments with the skills of its members • Empowers each member to influence the outcome • Producer (Delivers Results) • Delivers positive outcomes Acing leadership questions

19. Understand what leadership is/isn’t Know the critical skills Share your understanding while framing the answer Have multiple examples with complementary skills Acing leadership questions

20. First and second volunteers (reprieve) -Tell me what you think is your greatest leadership accomplishment? • Leadership Checklist • Vision • Proactive • Motivator • Team Builder • Results Driven Acing leadership questions

21. Know your resume Know what skills/experiences a company is seeking Understand how your experience is relevant Emphasize your ability to create value or positively change expectations for a role Experiential Questions

22. Come prepared with questions Know what you want to share about yourself Make sure you are abreast of current issues Do your homework Expect the unexpected Open-ended Questions

23. The Evolution of the Marketing Interview 1st year vs. 2nd year interviews The Marketing Mini-case

24. The Basics – what you’ll learn in most prep classes • 4 P’s • Product, Price, Placement, Promotion, Packaging The Marketing Mini-case

25. The Basics – what you’ll learn in most prep classes • 4 P’s • 3 C’s • Customer, Competition, Corporation The Marketing Mini-case

26. The Basics – what you’ll learn in most prep classes • 4 P’s • 3 C’s • SWOT Analysis • Strengths, Weaknesses, Opportunities, Threats The Marketing Mini-case

27. The Basics – what you’ll learn in most prep classes • 4 P’s • 3 C’s • SWOT Analysis • Segment the market • All categories reflect customers who have different needs and wants The Marketing Mini-case

28. Segmenting/Sizing/Targeting Expensive Traditional Exotic Category – Restaurants Inexpensive

29. The Basics – what you’ll learn in most prep classes • 4 P’s • 3 C’s • SWOT Analysis • Segmenting • Sizing • Size the market • Every market segment has a uniquely sized consumer base The Marketing Mini-case

30. The Basics – what you’ll learn in most prep classes • 4 P’s • 3 C’s • SWOT Analysis • Segmenting • Sizing • Targeting • Every brand should focus on a defined audience (or set of audiences) The Marketing Mini-case

31. The Basics – what you’ll learn in most prep classes • 4 P’s • 3 C’s • SWOT Analysis • Segmenting • Sizing • Targeting • Positioning • A brand must speak to its core customers in a compelling and persuasive manner The Marketing Mini-case

32. Beyond the Basics • Listen, clarify and state assumptions The Marketing Mini-case

33. Beyond the Basics • Listen, clarify and state assumptions • Focus on Consumer Insights • Marketing is in large part knowing who your consumer is and understanding what their needs and wants are. The Marketing Mini-case

34. Beyond the Basics • Listen, clarify and state assumptions • Focus on Consumer Insights • Focus on key issues, prioritize when possible • Use your frameworks to help guide your analysis and ultimately your answer but don’t let the frameworks become a crutch. The Marketing Mini-case

35. Beyond the Basics • Listen, clarify and state assumptions • Focus on Consumer Insights • Focus on key issues, prioritize when possible • Remember you’re running a business • A company has to be profitable to survive and a successful marketer must be understanding of all functional disciplines to be effective. The Marketing Mini-case

36. Beyond the Basics • Listen, clarify and state assumptions • Focus on Consumer Insights • Focus on key issues, prioritize when possible • Remember you’re running a business • Integrate your campaigns using all forms of media • Communicating with the consumer is more than just television and traditional print. It includes packaging, electronic media (internet, social media, you-tube), word of mouth, displays, shelf talkers, PR, etc. The Marketing Mini-case

37. The Marketing Mini-case Navigating Tough Waters The Holy Grail Flexibility Grab Your Life Jacket The Basics Navigating Tough Waters Complexity

38. The Tales of Torture (a la Baskin Robins) • 26 ways to effectively hang yourself The Marketing Mini-case

39. The Tales of Torture (a la Baskin Robins) • The Gang Plank • Data Analysis • Development of a marketing plan/strategy • Consumer insights • Competitive pricing • Brand extension/rationalization/New Product launch • Market sizing • Supply chain/channel/salesforce challenges/changes/conflicts • Competitive entry • Private label • Industry trends, challenges, future • Understanding marketing levers, when to use and how to use • Describe a well marketed/advertised brand • Selling yourself/something • Profitability analysis • Creativity/unique ideas • Budget allocation and defense • Compare and contrast two brands/businesses • Declining category, share, revenues, profitabilty • Advertising/promotion analysis • Brand analysis/acquisition/integration • International expansion • Marketing to multiple customer segments • Crisis response • Profit drivers • Economic factors • Inter-relationships of the marketing mix The Marketing Mini-case

40. The Tales of Torture • The Basics • Consumer insights • Tell me about a new product launch that has invigorated or changed the rules of a category. What do you think was the consumer insight that led to the development and ultimate success of that product? • Advertising/promotion analysis • Tell me about a current advertising campaign that you believe has been extremely successful. Why was/is it successful? • Private label • If you were running Heinz ketchup, how would you defend against private label? • Declining category, share, revenues, profitability • You are brand manager on “x” and you are losing share. What might be happening? What do you do? • Selling yourself/something • You are a box of cereal. How would you market yourself towards me? • Industry trends, challenges, future • What are the three most critical issues facing the consumer products industry today and what would you do to address these issues if you were CEO? The Marketing Mini-case

41. The Tales of Torture • Navigating Tough Waters • Development of a marketing plan/strategy • You have $15,000 to market The National MBA Source brand, put together an effective marketing plan. • Describe a well marketed/advertised brand • Name a non-P&G, non-Kraft consumer product brand that is not being targeted towards you and has superior marketing • Competitive entry – defensive maneuvers • You’re the brand manager of a local brand of potato chips with a top selling low-fat brand. Frito-Lay comes out with a highly publicized no-fat chip. What do you do? • Compare and contrast two brands/businesses • An owner of a convenience store and an owner of a movie theatre were discussing their businesses. What similarities between their two businesses could they identify? • Brand extension/rationalization/new product launch • Our brand currently has 8 sku’s and management has asked us to consider rationalizing the sku’s. What are the key factors you are going to consider in rationalizing the line? • Market sizing • You have produced a new product that is a cure for nearsightedness. Help us to determine the market potential, the opportunities for pricing? Volume? The Marketing Mini-case

42. The Tales of Torture • Grab your Life Jacket • Inter-relationships of the marketing mix • You’re the brand manager for a cereal or shampoo (pick one), describe a new product you would introduce to drive category growth and how would you apply the marketing mix to this new product launch. • Supply chain/channel/salesforcechallenges/changes/conflicts • If you could change Pringles from a warehouse snack to a DSD snack, but you would have to take $7.5 million out of advertising/promotion in order to do so, would you do it? Why/why not? What would happen to your top line? What would happen to your bottom line? How would your job change? • Marketing to multiple customer segments • You are Sony. Your positioning has allowed you to capture the majority of the early adopters of a new product. How do you move into mass market while keeping the core customers happy? • Creativity/Unique Ideas • Tell me about a product that you have in your refrigerator right now. Now, tell me what NEW product you would introduce to directly compete with that. Remember that it must be a NEW product. The Marketing Mini-case

43. The Tales of Torture • The Holy Grail! Today’s Date = October 1, 2013 Brand “X” Y-T-D Sales Budgeted Sales Forecasted Sales 7,600,000 cases 10,000,000 cases 10,200,000 cases Case Price $10.00/cs Normal Trade Allowance $2.00/cs Net Price on Deal = $8.00/cs Presented Deal Wegman’sKey Account Manager Potential 200,000 cases Proposed $2.50 Trade Allowance November 1, ship date What do you do? The Marketing Mini-case

44. Four Volunteers – ideally two first year and two second year students The Marketing Mini-case

45. Advertising Critique The Marketing Mini-case

46. The Marketing Mini-case

47. The Marketing Mini-case

48. Advertising Analysis • Does the ad draw the consumer’s attention ? • Is the brand recognizable? • Who is the ad targeting (purchaser/influencer/consumer)? • Does it convey a compelling point of difference (rational or emotional) to the target? • Does it motivate the consumer to action? • Does it offer a positive return on investment? The Marketing Mini-case

49. If you were running Heinz ketchup, how would you defend against private label? Marketing Mini-case

50. Heinz Ketchup – Ideal Response • Use consumer insights to drive further innovation • Leverage existing equity/emotional connections • Offer differentiated products – sizes, flavors, delivery forms, etc. • Continue to invest Marketing Mini-case