Define advertising? What are its main features? Explain.
Advertising is an impersonal form of communication, which is paid for by the marketers to promote some goods or services. The common modes of advertising are newspapers, magazines, television, radio and internet.
The main features of advertising are as follows:
Paid form of communication: It is a paid form, as the advertiser has to pay for the advertising media used, for the space or time used to communicate the message to the user.
Impersonality: Advertising presents the information regarding a product, service or idea in a non-personal form, as no face-to-face contact is involved between the seller and the customer.
Identified sponsor: Sponsor may be an individual or a firm, who pays for the advertisement. The name of identify of the advertiser is mentioned in the advertisement.
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.
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.
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?
Who can file a complaint in a consumer court?
Why is controlling considered a backward-looking function?
Define 'Planning' in management.
Compare and contrast the principles of management by Fayol and Taylor.
Explain the Principles of Scientific management given by Taylor.
Can planning work in a changing environment? Give a reason to justify your answer.
“A successful enterprise has to achieve its goals effectively and efficiently.” Explain.
What is the role of the Central Consumer Protection Authority (CCPA)?
A company, Xylo limited, is setting up a new plant in India for manufacturing auto components. India is a highly competitive and cost effective production base in this sector. Many reputed car manufacturers source their auto components from here. Xylo limited is planning to capture about 40% of the market share in India and also export to the tune of at least ` 50 crores in about 2 years of its planned operations. To achieve these targets it requires a highly trained and motivated work force. You have been retained by the company to advise it in this matter. While giving answers keep in mind the sector the company is operating.
Questions:
a. Outline the process of staffing the company should follow.
b. Which sources of recruitment the company should rely upon. Give reasons for your recommendation.
c. Outline the process of selection the company should follow with reasons.
(Further information related to the above question 6) The management of company Bhasin Limited now realised its folly. In order to rectify the situation it appointed a management consultant -Mukti Consultants - to recommend a restructure plan to bring the company back on the rails. Mukti Consultants undertook a study of the production process at the plant of the company Bhasin Limited and recommended the following changes —
• The company should introduce scientific management with regard to production.
• Production Planning including routing, scheduling, dispatching and feedback should be implemented.
• In order to separate planning from operational management ’Functional foremanship’ should be introduced.
• ‘Work study’ should be undertaken to optimise the use of resources.
• ‘Standardisation’ of all activities should be implemented to increase efficiency and accountability.
• To motivate the workers ‘Differential Piece Rate System’ should be implemented.
(The above changes should be introduced apart from the steps recommended as an answer to Part c - case problem 6 above.) It was expected that the changes will bring about a radical transformation in the working of the company and it will regain its pristine glory.
a. Do you think that introduction of scientific management as recommended by M consultants will result in intended outcome?
b. What precautions should the company undertake to implement the changes?
c. Give your answer with regard to each technique separately as enunciated in points 1 through 6 in the case problem.