Distinguish between advertising and personal selling.
Basis | Advertising | Personal Selling |
---|---|---|
Form | It is an important form of communication. | It is a personal form of communication. |
Reach | It reaches masses, i.e. a large number of people can be approached at the same time. | Only a limited number of people can be contacted. |
Cost | In advertising, the cost per person of reaching is very low. | In this case, the cost per person is very high. |
Medium | It makes use of mass media such as TV, Radio, Newspaper, etc. | It makes use of salesperson to contact the prospective buyer. |
Flexibility | It is inflexible as the message delivered cannot be adjusted to the buyer's needs. | It is flxible as the sales presentation can be adjusted to fit customer's needs. |
Time | It can cover wide market in short time. | It takes a lot of time to cover the entire market. |
Feedback | It lacks direct feedback from the customers. | It provides direct and immediate feedback from the customers. |
Role | It helps in creating interest of consumer in the firm's product. | It helps in the process of decision-making by a consumer. |
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.
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.
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?
Discuss the importance of motivation in directing.
What factors affect a company’s dividend decisions?
Which style of leadership does not believe in use of power unless it is absolutely essential?
How does planning reduce overlapping and wasteful activities?
What are the steps involved in the planning process?
Explain any two types of non-monetary incentives.
Discuss how changes in government policies can affect the business environment.
“A capital budgeting decision is capable of changing the financial fortunes of a business.” Do you agree? Give reasons for your answer?
Name the concept of financial management which increases the return to equity shareholders due to the presence of fixed financial charges.
State the type of plan and state whether they are Single use or Standing plan:
a. A type of plan which serves as a controlling device as well.(budget)
b. A plan based on research and analysis and is concerned with physical and technical tasks. (Method).