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 information is generally placed on the package of a food product? Design a label for one of the food products of your choice.
What are industrial products? How are they different from consumer products? Explain.
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?
What are the common barriers to effective communication? Suggest measures to overcome them.
What are the principles of scientific management?
Which style of leadership does not believe in use of power unless it is absolutely essential?
Explain the role of human resource management (HRM) in the staffing function.
Explain the procedure for selection of employees.
India’s largest domestic investor Life Insurance Corporation of India has once again come to government’s rescue by subscribing 70% of Hindustan Aeronautics’ ₹4,200-crore initial public offering.
a. Which market is being reflected in the above case?
b. State which method of floatation in the above identified market is being highlighted in the case? (Primary Market)
c. Explain any two other methods of floatation. (Private Placement, Offer through prospectus, offer for sale).
A firm plans in advance and has a sound organisation structure with efficient supervisory staff and control system but on several occasion it finds that plans are not being adhered to. It leads to confusion and duplication of work. Advise remedy.
Discuss the impact of scientific management on modern industries.
Briefly discuss the impact of Government policy changes on business and industry.
What are the external sources of recruitment? Discuss their advantages.