What are industrial products? How are they different from consumer products? Explain.
The products which are used as inputs to produce consumer products are known as industrial products, e.g. raw material, machinery, tools, etc.
Difference between industrial and consumer products:
Basis | Industrial Products | Consumer Products |
---|---|---|
Meaning |
These products are used for further production of other goods. |
These products are used for final consumption by the direct consumers. |
Number of buyer |
The buyers of industrial goods are limited. |
The buyers of consumer goods are many in number. |
Buying decision |
Decisions of buyers are influenced by technical specification and goodwill. |
Decisions of buyers are influenced by advertising and various sales promotional schemes. |
Nature of demand | These products have derived demand. | These products have direct demand. |
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 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?
Explain the recent Capital Market reforms in India.
State two important steps in the organizing process.
Mr Shantanu is a chief manager of a reputed company that manufactures garments. He called the production manager and instructed him to keep a constant and continuous check on all the activities related to his department so that everything goes as per the set plan. He also suggested him to keep a track of the performance of all the employees in the organisation so that targets are achieved effectively and efficiently.
a. Describe any two features of Controlling highlighted in the above situation.(Goal Oriented, continuous and pervasive – any 2).
b. Explain any four points of importance of Controlling.
Explain the term ‘Trading on Equity’? Why, when and how it can be used by company.
Give an example to show that a business firm operates within numerous inter related factors constituting the business environment.(Hint: example highlighting the inter relatedness of dimensions of business environment).
Lalita wants to buy shares of Akbar Enterprises, through her broker Kushvinder. She has a Demat Account and a bank account for cash transactions in the securities market. Discuss the subsequent steps involved in the screen-based trading for buying and selling of securities in this case.
Explain different financial and non-financial incentives used to motivate employees of a company?
Explain any four points regarding significance of principles of management.
What is meant by staffing?
What are the features of the Money Market?