Explain the major activities involved in the physical distribution of products.
The physical handling and movement of goods from place of production to the place of distribution, is called physical distribution. It covers all the activities required to physically move the goods from the manufacturing to the customers.
The major activities involved in the physical distribution of products are:
Order processing: A good physical distribution system should provide for an accurate and speedy processing of orders. In the absence of this, goods would reach the customers in wrong quality or quantity, resulting in dissatisfaction of customers.
Transportation: It means carrying raw materials and finished goods from one place to another. It helps in creating ‘place utility’, by making available the goods where they are required.
Warehousing: It refers to the act of storing and assorting products in order to create ‘time utility’. It helps in proper placement of goods and providing facilities to store them, so that they can be made available as and when demanded by the market.
Inventory control: An important decision in physical distribution is deciding about the level of inventory. Higher the level of inventory, higher will be level of service and cost of carrying the inventory and vice-versa. Various factors which are considered for determining inventory levels are:
i. Firms’ policy regarding level of customer service.
ii. Degree of accuracy of sales forecast.
iii. Responsiveness of distribution system.
iv. Cost of holding inventory.
A good inventory decision aims at timely fulfillment of demand at minimum cost.
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?
Ashita and Lakshita are employees working in Dazzling enterprises dealing in costume jewellery. The firm secured an urgent order for 1,000 bracelets that were to be delivered within 4 days. They were assigned the responsibility of producing 500 bracelets each at a cost of Rs 100 per bracelet. Ashita was able to produce the required number within the stipulated time at the cost of Rs 55,000 whereas, Lakshita was able to produce only 450 units at a cost of Rs 90 per unit. State whether Ashita and Lakshita are efficient and effective. Give reasons to justify your answer.
What are the functions of the Stock Exchange?
Distinguish between Capital Market and Money Market.
A company wants to modify its existing product in the market due to decreasing sales. You can imagine any product about which you are familiar. What decisions/steps should each level of management take to give effect to this decision?
The workers of a factory are unable to work on new machines and always demand for help of supervisor. The Supervisor is overburdened with their frequent calls. Suggest the remedy. (Hint: training)
Explain the techniques of managerial control.
Explain any four points regarding significance of principles of management.
How does understanding of business environment help in improving performance of a business?
List any two indicators of growth of an organisation.
Enumerate the various Acts passed by the Government of India which help in protection of consumers’ interests.