Principles of Management — Business Studies STD 12 Commerce — Question

Define brand, brand name, brand mark and trademark.

Explain how principles of management:

1. Help in optimum utilization of resources and effective administration, and.
2. Help the managers in meeting changing environment requirements.

The barriers to effective communication exist in all organisations. Explain any three measures to overcome these barriers.

Enumerate any three functions of middle level management.

Differentiate between budget and procedure.

After completing his MBA degree, Aman joined a multinational company Zeyovya Ltd. His job demands long hours and commitment to the organisation. He is responsible for integrating diverse elements and coordinating all the activities of the business and for its impact on society. His job is complex and stressful.
a. Identify the level of management at which Aman joined the organisation.
b. State any two functions to be performed by Aman at this level other than those discussed in the para.

“Controlling is backward looking”. Explain.

Hemant, Guddu and Toshita were friends from college days and presently they were doing different kinds of business. They regularly meet and discuss their business ideas, and exchange notes on customer satisfaction, marketing efforts, product designing, selling techniques, social concerns, etc.
In one of such meetings, Hemant drew the attention of Guddu andToshita towards the exploitation of consumers. He told that most of the sellers were exploiting the consumers in various ways and were not paying attention towards the social, ethical and ecological aspects of marketing, whereas he was not doing so. Guddu told that they were under pressure to satisfy the consumers but stated that the consumers would not buy or not buy enough unless they were adequately convinced and motivated for the same.
Toshita stressed that a company cannot achieve its objectives without satisfying the needs of the customers. It was the duty of the businessmen to keep consumer satisfaction in mind, because business is run by the resources made available by the society. She further stated that she herself was taking into consideration the needs of the customers.
Identify the various types of thinking that guided Hemant, Guddu and Toshita in the marketing efforts of their business. Also, state one more feature each of the various types of thinking identified that is not given in the above paragraph.

What is Labelling? State any five functions of labelling.

What is the importance of price element of marketing mix?
OR
Why is price so important in marketing?