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?
What are the major components of the business environment?
Explain different financial and non-financial incentives used to motivate employees of a company?
What are semantic barriers of communication?
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.
Explain any two types of non-monetary incentives.
What are the steps in the process of organising?
Explain the following terms:
a. Liberalisation
b. Privatization
c. Globalisation
“A successful enterprise has to achieve its goals effectively and efficiently.” Explain.
What does the term ‘Span of management’ refer to?
A company, which manufactures a popular brand of toys, has been enjoying good market reputation. It has a functional organisational structure with separate departments for Production, Marketing, Finance, Human Resources and Research and Development. Lately to use its brand name and also to cash on to new business opportunities it is thinking to diversify into manufacture of new range of electronic toys for which a new market is emerging. Which organisation structure should be adopted in this situation? Give concrete reasons with regard to benefits the company will derive from the steps it should take.