Short Answer TypeDistinguish between 'Selling Concept' and 'Marketing Concept' of Marketing Management Philosophies on the basis of 'main focus'.
Under three-tier machinery where can a legal heir or representative of a deceased consumer file a complaint when the compensation claimed is 25 Lakhs?
Pragya bought an iron of a reputed brand for 1,500 but it caused an electric shock while it was being used. Pragya wants to exercise her 'Right'. Identify the 'Right' under which she can be protected.
Ajay was appointed a marketing head of 'Alfa Enterprise' manufacturers of toothpaste and toothbrushes. His target sale was 2000 units a month. Apart from thinking about various channels of distribution to achieve the target he himself started visiting schools in backward areas. He found that even after taking various steps and counselling, some school children had not started brushing their teeth. He investigated and found that they could not afford to buy toothbrush and toothpaste. So with due permission he started donating 200 toothbrushes and toothpastes every month to the school.
(i) Identify the channel of distribution 'Ajay' would adopt for distribution of toothpaste and toothbrushes and justify it by giving one reason.
(ii) State any two values which Ajay wants to communicate to the society.
'Though branding adds to the cost, it provides several advantages to the consumers'. In the light of the statement, state any three advantages of branding to customers.
Brand Name is a part of a brand consisting of words, letters and group of words or letters comprising a name which is intended to identify the goods or services of a seller or a group of sellers and to differentiate them from those of competitors. Example, Promise tooth paste, Safola, Maggie, Lifebuoy, Dunlop, and Rexona are the brand names.
Advantages of branding to customers:
(i) Helps in Product Identification: Branding helps the customers to identify the product easily. Customers not always make a close watch of the features of product. If they get satisfaction from a single consumption, the brand gets identified and will get purchased repeatedly. The brand name, brand mark, etc helps the customer to identify the product easily.
(ii) Ensures Quality: If a product is a branded one the customers usually have an expectation of quality from the product. If the product didn’t satisfy their expectation they can easily approach the manufacturer and complain. Such facility builds confidence of consumers.
(iii) Status Symbol: Some brands become status symbols because of their quality. The consumers of those brands of products feel proud of using them and add to the level of satisfaction of the customers.
What is meant by 'Long-term Investment Decision? State any three factors which affect the long-term investment decision.
Explain any four points of importance of consumer protection from the point of view of business.
Long Answer TypeDifferentiate between ‘capital-market’ and ‘money-market’ on the following basis:
(i) Participants;
(ii) Instruments;
(iii) Investment outlay;
(iv) Duration and
(v) Liquidity.
Explain ‘Price’ as an element of marketing– mix. Also, explain any four factors that affect the fixation of price of a product.
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