Marketing — Business Studies STD 12 Commerce — Question

Explain the concept of personal selling and any for qualities of a good salesman.

“Authority can be delegated but accountability cannot”. Explain this statement.

Explain the principles of Directing?

What are the features of ‘Planning’? Explain any six.

Explain any four factors which affect the fixed capital requirements of a business.

Define the term ‘Communication’ and explain its features.

Two years ago Suruchi completed her BBA course. As she had knowledge of the business she began taking interest in her parental business. Her father used to do the wholesale business of wheat. Suruchi suggested to her father why not they should also go in for the retail business of wheat. Her father agreed. He entrusted full responsibility for the new business to Suruchi. First of all, she conducted a market survey and tried to obtained information regarding the kind of wheat, price, and weight of its packing, that the people liked desi wheat the most. Many varieties of wheat were already available in the market. In order to show that her wheat was distinct from that of other traders, she gave it the name of Sharbati Healthy Food. Wheat was packed in attractive plastic bags. Weight of each packed wheat bag was either 10kg and 20kg so that it is easily carried and moved from one place to the other. Suruchi pasted a label on each bag giving full information about the wheat packed in. While deciding the price of her product she kept in mind, the expectation of the people, price of competitor's products and reasonable rate of profit. Thus a new business came into being. Within a few days, Suruchi was known as a successful trader.
With reference to the above paragraph identify four functions of marketing.

In an environment of rising petroleum prices and a large middle class population in India. KV Motors Ltd. recognized the need for small cars in India. It created a product far superior than their competitors not only in terms of quality but also in terms of overall driving experience. It soon became the leader in the small car market. As the Indian government was encouraging foreign investment, MNCs having a big name in car manufacturing entered the Indian market.
KV Motors further expanded its service network and quality creating an entry barrier for the competitors. It depicted its strengths through various brand-building activities. As a result, the market share of KV Motors is refusing to go down in spite of all major automakers as its competitors.

1. Identify the economic reforms highlighted in the above case.
2. Quoting the lines, explain any two points of importance of Business Environment being highlighted in the above case.

On Your Marks is a good shoe manufacturing company. The company is the first to start a shoe having a unique technology giving it a long life. However the company knows that it exists in an environment where everything around it counts; so everything around it matters. Therefore, it is trying to observe every small aspect of the business environment. There are various factors which are closely related to each other and can't be understood in isolation like change in lifestyle which can be linked to the improved demand of technologically advanced shoes. However, the company can't be self satisfied. It will have to adjust to rapidly changing technology, fragmentation of market, changing brand loyalties, etc. It has got good man power and a very well established production department. It knows that various resources in the form of inputs have to be transformed into the best products and sold for increasing its revenue. However, there are various challenges which the company is facing. These are in the form of protests done by labour unions throughout the country which sometimes assume the form of strikes. The board of directors is keen to adapt to this difficult situation. Government is playing a very positive role, like it did a few years back, and is freeing the business environment from unnecessary restrictions and government controls. The company is hopeful of emerging as a winner under such government support.
i. Which features of business environment are highlighted in the above case?
ii. Identify the importance of business environment highlighted in the above case?
iii. Which dimension of business environment is highlighted above?
iv. Which economic reform is discussed in the last part of the case?