Distinguish between convenience product and shopping product.
Basis | Convenience products | Shoppong products |
---|---|---|
Time and efforts | They are usually standardize goods, which are purchased at convenient locations, with least time and efforts. | These are purchased after a detailed comparison of various products, which involves a lot of time and efforts of the consumer. |
Unit price and profit margin | Their unit and profit margin is low. | Their unit price and profit margin is usually high. |
Demand | They have a regular and continuous demand. | They are durable in nature and survive many uses, thus no regular demand. |
Competition of product | Competition in these products is usually high. | Competition is not so high as in case of convenience products. |
Promotion of sales | Sales promotion techniques help to promote the sale of such products. | Saleman and retailers help to promote their sales. |
Example | Stationery, medicines, newspaper, books, etc. | Jeweler, furniture, electronics goods, etc. |
What are the factors affecting determination of the price of a product or service? Explain.
A marketer of colour TV having 20% of the current market share of the country aims at enhancing the market share to 50 per cent in next three years. For achieving this objective he specified an action programme. Name the function of marketing being discussed above. (Ans. Marketing planning.)
What is marketing mix? What are its main elements? Explain.
For buyers of consumer durable products, what ‘customer care services’ would you plan as a manager of a firm marketing new brand of motorcycle. Discuss.
How does branding help in differential pricing?
Discuss the role of intermediaries in the distribution of consumer non-durable products.
What are industrial products? How are they different from consumer products? Explain.
What information is generally placed on the package of a food product? Design a label for one of the food products of your choice.
Product is a bundle of utilities. Explain.
Discuss the role of ‘sales promotion’ as an element of promotion mix.
How does planning provide direction?
What is meant by staffing?
Identify the network of social relationships which arises spontaneously due to interaction at work.
What is informal communication?
State the meaning of controlling.
What is meant by capital structure?v
What is meant by management?
What is a Treasury Bill?
What makes principles of management flexible?
Under which consumer right does a business firm set up consumer grievance cell?
Explain the qualities of a good leader? Do the qualities alone ensure leadership success?
If an organisation does not provide the right place for physical and human resources in an organisation, which principle is violated? What are the consequences of it?
Explain how planning provides direction and reduces the risk of uncertainty in an organization.
Amrit is running a ‘transport service’ and earning good returns by providing this service to industries. Giving reason, state whether the working capital requirement of the firm will be ‘less’ or ‘more’.
State any two reasons why investing public can expect a safe and fair deal in the stock market. (Point w.r.t safety of Transactions – Functions of the Stock Exchange).
What is the common name for Beneficiary Owner Account, which is to be opened by the investors for trading in securities?
Explain the importance of coordination as an essential function of management.
Kaul Consultants have launched www.naukaripao.com exclusively for senior management professionals. The portal lists out senior level jobs and ensures that the job is genuine through rigorous screening process.
a. State the source of recruitment highlighted in the case above.
b. State four benefits of the above identified source of recruitment.
Explain the importance of controlling in an organisation. What are the problems faced by the organisation in implementing an effective control system?
Indian Railways has launched a new broad gauge solar power train which is going to be a path breaking leap towards making trains greener and more environment friendly. The solar power DEMU (Diesel Electric Multiple Unit) has 6 trailer coaches and is expected to save about 21,000 liters of diesel and ensure a cost saving of Rs 12, 00,000 per year. Name the objectives of management achieved by Indian Railways in the above case.