Discuss the role of intermediaries in the distribution of consumer non-durable products.
Intermediaries plays an important role in the distribution of consumer non-durable products by making the goods and services available at the right place, so that people can purchase the same.
Intermediaries perform the following function in case of non-durable consumer products:
Sorting: It refers to the process of sorting the product into homogeneous groups on the basis of size, quality, features and price.
Accumulation: It refers to the process of accumulation of goods into larger homogeneous stocks. This helps to maintain a continuous flow of supply.
Allocation: It involves breaking homogeneous stocks into smaller, marketable lots. This helps in making sales easily according to different requirements of different buyers.
Assorting: It refers to the process of combining various goods of the same line of product, for sale to customers. Desired combinations of products are made to fulfill varied needs of customers, such as a cricket kit containing a bat, a ball, gloves, wickets, stumps, helmet and leg guards.
Product promotion: Middlemen helps in the promotion of product by organising demonstrations, displays, contest, promotional events, etc. this helps in increasing the sale of products.
Negotiation: Intermediaries usually discuss and decide the terms and conditions of sale, by negotiating the price, quality, guarantee, terms and conditions of delivery and payment, etc.
Risk-taking: Middlemen usually bear risks on account of price and demand fluctuations, spoilage, destruction, etc, during the process of exchange.
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?
Distinguish between convenience product and shopping product.
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?
What are the common barriers to effective communication? Suggest measures to overcome them.
A reputed hostel, Gyan Pradhan provides medical aid and free education to children of its employees. Which incentive is being highlighted here? State its category and name any two more incentives of the same category.
National Digital Library of India (NDL India) is a pilot project initiated by the HRD ministry. It works towards developing a framework of virtual repository of learning resources with a single-window search facility. It provides support to all academic levels including researchers, life-long learners and differently-abled learners free of cost. State the dimensions of business environment highlighted above.
How would you argue that the success of a business enterprise is significantly influenced by its environment?
Explain the following terms:
a. Liberalisation
b. Privatization
c. Globalisation
How does working capital affect both the liquidity as well as profitability of a business?
What is financial risk? Why does it arise?
Which element in the communication process involves converting the message into words, symbols, gestures etc.?
Explain the process of motivation with the help of a diagram.
“A capital budgeting decision is capable of changing the financial fortunes of a business.” Do you agree? Give reasons for your answer?