Nature and Significance of Management — Business Studies STD 12 Commerce — Question

Which activities are included in promotion of products?

What are non-financial incentives?

What is the objective behind demonetisation?

A manager should maintain balance between _____ and ______.

Business environment keeps on changing whether in terms of technological improvement, shifts in consumer preferences, etc. Which feature of business environment is highlighted here?

Give the full form of SEBI.

Raman, Joginder, John, lqbal and Shreya are friends. They are operating different business. Each one has his/her own concept regarding operating their business.Raman believes in producing products at a large scale. Thereby decreasing the average cost of the products and selling it at a reasonable price.Joginder focuses on providing best quality products because he believes that a customer always wishes to buy a good quality product. The price of the product is secondary, John is of the belief that most important aspect of business is sales and so he undertakes aggressive selling and promotional effort.Part: B Business Finance and MarketingIqbal believes that his firm can achieve its goals only by identifying the needs of the customer and satisfying them better than the competitors.Shreya on the other hand feels that her firm has a responsibility towards the society as well. So she provides customer satisfaction along with using techniques which are environmental friendly.(i) What are the marketing concepts followed by each of them?(ii) Raman's concept is successful for him because he is into manufacturing and selling iodised salt under the brand 'Healthy salt, this product has a ready market and vast consumer base, also the products are standardised so he can focus on production at a large to cut down the cost per unit. Write any business which can be successfully run by the others using their concepts.(Joginder-John-lqbal-Shreya)

Name the type of plan in which minutest details are worked out, i.e., procedures, rules, budgets, etc.

Suman bought a box of cheese of a reputed brand from a local shopkeeper. On opening the box she found a piece of stone in the cheese. She reported the matter to the shopkeeper who forwarded her complaint to the concerned company. Within a week the representative of the company visited Suman's residence with an apology and as a replacement offered her a new cheese pack with four other varieties of cheese as compensation for the inconvenience to her.
State the consumer right which Suman exercised.

Which concept of marketing suggests that an organisation should earn profit through consumer satisfaction and social welfare?