Sample interview questions: Share an example of a marketing analysis project where you had to evaluate the impact of pricing promotions.
Sample answer:
One example of a marketing analysis project where I had to evaluate the impact of pricing promotions was for a retail clothing brand. The objective was to determine the effectiveness of various pricing strategies on driving sales and increasing customer loyalty.
To start the analysis, I collected data on sales and customer behavior before, during, and after the pricing promotions. This included information on the number of units sold, average transaction value, customer demographics, and repeat purchase rates. Additionally, I gathered data on competitor pricing and market trends to provide a comprehensive view of the industry landscape.
After analyzing the data, I calculated key metrics such as the sales lift, customer acquisition cost, and return on investment for each pricing promotion. I compared these metrics across different customer segments, product categories, and promotional periods to identify trends and patterns.
Furthermore, I conducted statistical analysis to assess the significance of the pricing promotions’ impact on sales. This involved running regression models and conducting hypothesis tests to determine if the observed increase in sales was statistically significant and not simply due to random variation.
Additionally, I utilized customer… Read full answer