Management Trainee (Marketing) cheat sheet

Marketing concept: achieving organisational goals by identifying and satisfying customer needs more effectively than competitors.

Maslow's hierarchy (bottom-up): physiological, safety, social, esteem, self-actualisation; lower needs must be met before higher needs motivate.

Buyer decision process: need recognition → information search → evaluation of alternatives → purchase decision → post-purchase behaviour.

Perception filters: selective attention (screens out most stimuli), selective distortion (interprets to fit beliefs), selective retention (remembers only reinforcing info).

Attitude components: cognitive (beliefs), affective (feelings), conative (behavioural intentions); changing one tends to influence the others.

Reference groups (membership, aspirational, dissociative) and opinion leaders exert normative and informational social influence on purchase.

Customer lifetime value (CLV) = average purchase value × purchase frequency × customer lifespan (or discounted margin method).

Market segmentation criteria: measurable, accessible, substantial, differentiable, actionable (MADSA).

B2B vs B2C: B2B demand is derived, inelastic, fluctuating, and involves more decision participants (buying centre).

Primary vs secondary data: primary collected for the specific problem; secondary already exists (internal records, syndicated reports).

Probability sampling (random, stratified, cluster) allows inferential statistics; non-probability sampling (convenience, quota) does not.

Sample size for a proportion: n = z²·p(1−p)/e²; at 95% confidence (z=1.96) and p=0.5, n ≈ 1,067 for e=±3%.

Margin of error = z × √(p(1−p)/n); increasing n reduces error by the square root of the sample-size increase.

Questionnaire pitfalls: leading questions, double-barrelled items, ambiguous wording, and order bias; pre-test before full launch.

Correlation coefficient r ranges −1 to +1; r does not establish causation (confounding variables, reverse causality).

A/B test significance: use a two-proportion z-test or chi-square; require adequate power (typically 80%) and a pre-set sample size.

Qualitative methods (focus groups, depth interviews) explore why; quantitative methods (surveys, experiments) measure how many/how much.

Brand equity (Keller): differential effect of brand knowledge on consumer response, built through awareness and strong, favourable, unique associations.

Product life cycle stages: introduction, growth, maturity, decline; marketing mix shifts from awareness-building to differentiation to efficiency.

BCG matrix: stars (high growth, high share), cash cows (low growth, high share), question marks (high growth, low share), dogs (low growth, low share).

Ansoff matrix: market penetration, product development, market development, diversification (increasing risk in that order).

Brand positioning statement: for [target], [brand] is the [frame of reference] that [point of difference] because [reason to believe].

Line extension uses an existing brand in a new form within the category; brand extension enters a different product category.

Cannibalisation occurs when a new product takes sales from an existing product in the same portfolio; assess net incremental volume.

Perceptual mapping plots brands on two key attributes; white space indicates a positioning opportunity (validate demand before entry).

Digital funnel metrics: impressions → clicks (CTR = clicks/impressions) → conversions (CVR = conversions/clicks) → repeat purchase.

CPC = spend/clicks; CPM = (spend/impressions)×1,000; CPA = spend/conversions; ROAS = revenue/spend.

Email metrics: open rate = opens/delivered; click-to-open rate = clicks/opens; unsubscribe rate = unsubscribes/delivered.

SEO split: on-page (content, meta, internal links), off-page (backlinks, authority), technical (speed, crawlability, mobile).

Social media: earned (shares, UGC), owned (brand pages, website), paid (ads, boosted posts); measure engagement rate = interactions/reach.

Attribution models: last-click (favours closing channels), first-click, linear, time-decay, position-based; data-driven uses observed paths.

Landing page conversion levers: message match with ad, single clear call to action, reduced form fields, page speed, social proof.

GDPR/PECR consent: marketing emails to individuals require prior opt-in (soft opt-in for existing customers on similar products).

IMC planning sequence: situation analysis → objectives (SMART) → target audience → budget → media/channel mix → creative → execution → measurement.

AIDA model: Attention → Interest → Desire → Action; map channels to the stage they primarily influence.

Reach × frequency = gross rating points (GRPs); effective frequency is the minimum exposures needed to prompt action.

Push vs pull: push directs trade promotion to channel intermediaries; pull builds consumer demand to drive channel stocking.

Media metrics: CPM compares cost efficiency of reach; cost per point (CPP) = cost of schedule/GRPs.

Creative brief elements: background, objective, target audience, proposition, support, tone, mandatories, media.

Message framing: gain-framed appeals suit prevention behaviours; loss-framed appeals can be stronger for detection behaviours.

Campaign evaluation: pre-test (copy testing), tracking (awareness, recall), post-test (sales lift vs control group).

Sales funnel stages: prospecting, qualifying, approach, presentation, objection handling, closing, follow-up.

Pipeline metrics: conversion rate = won deals/qualified leads; sales cycle length = average days from lead to close.

CRM data model: accounts, contacts, leads, opportunities, activities; single customer view links interactions across channels.

RFM segmentation: Recency, Frequency, Monetary value; used to prioritise retention and reactivation campaigns.

Channel conflict arises when direct and indirect channels compete for the same customers; manage with territory and pricing rules.

Key account management applies to customers with high strategic value; measure share of wallet and account profitability.

Sales compensation: commission on margin (not revenue) aligns rep behaviour with profitability; quotas should be achievable (60–70% of reps).

Customer satisfaction (CSAT) vs Net Promoter Score (NPS = % promoters − % detractors); NPS relates to loyalty, not directly to revenue.

Gross profit = revenue − cost of goods sold; gross margin % = gross profit/revenue × 100.

Operating profit = gross profit − operating expenses; net profit = operating profit − interest − tax.

Break-even volume = fixed costs/(unit price − unit variable cost); contribution margin = price − variable cost.

ROI = (net gain/cost) × 100; payback period = initial investment/annual net cash inflow.

Pricing: cost-plus (cost × (1+markup)), target-return, value-based (willingness to pay), and competitive parity.

Price elasticity of demand = % change in quantity/% change in price; |E|>1 elastic, <1 inelastic.

Working capital = current assets − current liabilities; cash conversion cycle = DIO + DSO − DPO.

Market share = company sales/total market sales × 100; relative market share = company share/largest competitor share.

Percentage change = (new − old)/old × 100; reverse a percentage increase by dividing by (1 + rate).

Ratios: simplify by dividing both sides by the highest common factor; scale by multiplying both sides by the same number.

Averages: mean = sum/count; weighted mean = Σ(value × weight)/Σweights; median is the middle value when ordered.

Speed–distance–time: distance = speed × time; convert units consistently (e.g., km/h to m/s divide by 3.6).

Compound growth: final = initial × (1 + r)^n; CAGR = (final/initial)^(1/n) − 1.

Verbal reasoning: evaluate whether the statement is true, false, or cannot say based only on the passage; avoid outside knowledge.

Data interpretation: check units (thousands, millions), read axis scales, and compute differences before drawing conclusions.

Estimation: round numbers to one significant figure to eliminate answer options quickly, then refine if needed.

Situational judgement tests rank responses by effectiveness; the best answer addresses the issue directly, involves others appropriately, and respects policy.

Escalation rule: handle within your authority; escalate when risk, cost, or scope exceeds your delegated limit.

Feedback model: situation–behaviour–impact (SBI); give specific, timely, behavioural feedback rather than personality judgements.

Stakeholder communication: tailor message to audience (executive summary vs operational detail) and confirm understanding.

Conflict resolution: separate people from the problem, focus on interests not positions, generate options, agree objective criteria.

Prioritisation: urgent vs important (Eisenhower); delegate or schedule important-but-not-urgent tasks to prevent crises.

Ethical decision test: would you be comfortable if the decision were public? Does it comply with law, policy, and company values?

Leadership potential indicators: ownership of outcomes, data-informed decisions, developing others, and adapting style to context.