HOTS

HOTS

Chapter 2

Q1. They provide managers with useful insights into reality and help in optimum utilization of resources and effective administration. Name them.

Q2. ‘The principles of management are different from those of pure sciences.’ State one difference.

Q3. ‘The principles of management do not provide readymade, straitjacket solutions to all managerial problems.’ Which nature of principles of management are highlighted here?

Q4. ‘Resources should be put to use in such a manner that they should give maximum benefit with minimum cost.’ Mention the importance of principles of management highlighted in the statement.

Q5. Which significance of principles of management is referred through this statement-‘Decisions must be based on facts, thoughtful, and justifiable in terms of the intended purposes’?

Q6. ‘Management principles aim at influencing behaviour of human beings’. State the feature of management principle mentioned here.

Q7. Mention the feature of management principle in the following statement ‘The principles of management are not rigid prescriptions, which have to be followed absolutely’? Also explain two more features of management.

Q8. ‘The application of principles of management is dependent upon the prevailing situation at a particular point of time.’ State and explain the feature of managementprinciple mentioned here.

Q9. Which principle suggests that there should be one and only one boss for every individual employee?

Q10. Management should promote a team spirit of unity and harmony among employees. Which principle suggests this?

Q11. According to Fayol one principle refers to the right to give orders and obtain obedience whereas other refers to the corollary of authority. Mention their names.

Q12. It refers to obedience to organizational rules and employment agreement which are necessary for the working of the organization. Which principle is referred here?

Q13. Which principle suggests that the interests if an organization should take priority over the interests of any one individual employee?

Q14. The concentration of decision-making is called centralization whereas its dispersal among more than one person is known as what?

Q15. ‘Employee turnover should be minimized to maintain organizational efficiency’. Mention the principle which indicates it.

Q16. Taking the first step with self-motivation is one of the traits of an intelligent person. Which principle does it indicate?

Q17. Mohan, a manager expects his subordinates to adapt to the new environments and working conditions without giving them time to settle down. Which principle of management is being overlooked and why?

Q18. The subordinates in a company receive orders regarding their work from different operative heads for the same task. Which principle of management is being overlooked and why?

Q19. Mohan, a manager expects his subordinates to work for the happiness and pleasure of being in the organization. Which principle of management is being overlooked and why?

Q20. Mohan, a manager of a business undertaking, is very lax with his fellow employees and subordinates. He does not give them parameters or rules for reporting to workand completion of assignments. Which principle of management is being overlooked and why?

Q21. Mohan, a manager, very often speaks to people at all levels, passing on instructions regarding his department and also other departments. Which principle of management is being overlooked and why?

Q22. Mohan, a manager, neither has a system of keeping his equipment or people at a prescribed place. Which principle of management is being overlooked and why?

Q23. Mohan, a manager, expects his colleagues to get work out of subordinates without giving them any powers. Which principle of management is being overlooked and why?

Q24. Mohan, a manager, expects his colleagues to get work out of subordinates and yet has a differential treatment of each person. Which principle of management is beingoverlooked and why?

Q25. It has been observed that the ‘prevailing situation’ in an organization is due to the violation of the principle of ‘order’. What might have been your observations?

OR

If an organization does not provide the right place for physical and human resources in an organization, which principle is violated? What are the consequences of it?

OR

Which principle of management aims at securing the loyalty and devotion of the employees by giving them kind, fair and just treatment? Explain the principle with a suitable example.

Q26. Which principle of management is violated if an employee is asked to receive orders from two superiors? Explain the principle with a suitable example.

Q27. Which principle of management envisages that each group of activities having thesame objectives must have one head and one plan? Explain the principle with asuitable example.

Q28. Hina and Harish are typists in a company having same educational qualifications.Hina is getting Rs.3,000 per month and Harish Rs.4,000 per month as salary for the same working hours. Which principle of management is violated in this case? Nameand explain the principle.

Q29. The Production Manager of Bharat Ltd. instructs a salesman to go slow in selling the product, whereas the Marketing Manager is insisting a fast selling to achievethe target. Which principle of management is violated in this case? State any one of the consequences of violation of this principle.

Q30. Name the principle which refers to formal lines of authority from highest to lowestranks. Explain.

Q31. Which principle states that “A place for everything (everyone) and everything (everyone) in its place” ? Describe it.

Q32. It refers to the use of scientific methods in decision-making to resolve managementproblems rather than depending on rule of thumb or trail and error methods. Name it.

Q33. Taylor believed that there was only one best method to maximize efficiency. Thismethod can be developed through study and analysis. Which principle is indicatedby Taylor?

Q34. This principle of Taylor is an extension of principle of ‘Harmony and discord’. Name it.

Q35. Which principle pf Taylor suggests that the job performed should be based on

scientific inquiry and not on intuition? Name and explain the principle in brief.

Q36. ‘There should be no conflict between the management and workers’. Name and explain the principle of management given by Taylor which can avoid this conflict.

Q37. It is an art of observing and recording the time required to do each detailed elementof an industrial operation. Which technique of scientific management does it indicate?

Q38. Which technique of scientific management is an extension of the principle of division of work and specialization to the shop floor?

Q39. It aims at eliminating unnecessary diversity of products. Name this technique of scientific management.

Q40. This technique of scientific management tries to find out one best way of doing job. Name it.

Q41. It involves a change in the attitude of workers and management towards one another from competition to cooperation. Name it.

Q42. Which technique of Taylor suggests that each work should be supervised by specialists? Name two specialists also.

Q43. Name and explain the technique of Taylor which is the strongest motivator for a worker to reach standard performance.

Q44. Taylor advocated separation of planning and execution functions. Which technique of scientific management was suggested to achieve it? Also explain it.

Q45. Unnecessary movements are sought to be eliminated so that it takes less time to complete the job efficiently. Mention this technique and also explain it.

Q46. If Taylor’s principles and techniques are focused on workers’ efficiency then Fayol’s principles are focused on which criteria.

Q47. Whose principles are more general in nature having input of flexibility.

Q48. How can principles given by Fayol and Taylor be differentiated from each other on the basis of applicability.

Q49. What is the main focus of principles given by Henri Fayol and F.W. Taylor?

Chapter-3

Q1. It refers to the sum total of all individuals, institutions and other forces that are outside the control of a business enterprise but that may affect its performance. Name it.

Q2. Business environment keeps on changing whether in terms of technological improvement, shifts in consumer preferences, etc. Which feature of business environment is highlighted here?

Q3. Which feature of business environment is indicated when it is stated that business environment is a phenomenon that is relatively easier to understand in parts but difficult to grasp in totality?

Q4. Different parts or elements of business environment are closely interrelated. Justify it with the help of an example.

Q5. Business environment enables the firm to identify opportunities and getting the first mover advantage. Justify it with an example.

Q6. Give a practical example from current scenario to prove that business environment helps the firm to identify threats and early warning signals.

Q7. ‘Companies that fail to adapt to their environment are unlikely to survive in the long run’. Discuss with an example.

Q8. Mr. Nitin Singhania’s father has a good business of iron and Steel. He wants to go to the U.S.A. for his M.B.A., but his father wants that he should join the business. On the basis of the emerging trends, do you think that Mr. Singhania should send his son to the U.S.A.? Give any three reasons in support of your answer.

Q9. Which environment describes characteristics of the society in which the organization exists?

Q10. Which element/dimension of business environment involves improvements and innovations which provide new ways of producing goods and services and new methods and techniques of operating a business?

Q11. Which environment prohibits the advertisement of alcoholic beverages?

Q12. Banking sector reforms have led to easier credit terms and better services. This is an example of a key component of the ‘Business Environment’. Name this component and explain it in brief.

Q13. ‘Demand for reservation in jobs for minorities’ refers to an example of key component of general environment of business. Name and explain the component.

OR

‘Equal pay for equal work for male and female workers’ refers to an example of a key component of general environment of business. Name and explain the component.

Q14. Customers have become more demanding due to changes in government policy. Why?

Q15. Mention some services industries where competition for Indian firms has increased due to government policy changes.

Q16. Now the firms have to study and analyze the market first and produce goods accordingly. Which impact of government policy changes is mentioned here?

Q17. In order to survive and grow, public sector will have to be more efficient and generate their own resources for the purpose. Why is it so?

Chapter-4

Q1. This function of management means deciding in advance what to do and how to do. Name it.

Q2. Planning seeks to bridge the gap between two things. Mention them.

Q3. Planning lays down the base for other functions of management. Which feature of planning is highlighted here?

Q4. A plan is framed, it is implemented and is followed by another plan and so on. Mention the feature of planning indicated here.

Q5. Which feature pf planning is stressed by saying that planning is an intellectual activity of thinking rather than doing?

Chapter-5Organizing

Meaning and process of Organizing

Q1. Name the function of management which co-ordinates the physical, financial and human resources establishes productive relations among them for achievement of specific goals. (1)

OR‘Identifying and dividing the work’ is the first step in the process of one of the functions of management. Identify the function. (1)

Q2. Name and explain the two steps in the process of organizing which comes after ‘Identification and division of work’ and ‘Departmentalization’. (6)

Importance and Objectives of organizing

Q3. Organizing leads to a systematic allocation of jobs amongst the workforce. Which importance of organizing is stated here? (1)

Q4. Organizing clarifies lines of communication and specifies who is to report to whom. Mention the importance of organizing mentioned here. (4)

Organization Structure, Functional Structure, Divisional Structure

Q5. It is formed by grouping together the entire work to be done into major functional departments. Name it. (1)

Q6. It promotes control and coordination within a department because of similarity in the tasks being performed. Which type of organization structure is referred here and in what kind of organization it is suitable? (4)

Formal and Informal Organization

Q7. It is a system of consciously coordinated activities of two or more persons towards a common objective. Mention this system of organization and explain its tow features. (4)

Q8. It is a network of personal and social relations not established or required by the formal organization but arising spontaneously as people associate with one another. Name this organization and give its three advantages. (4)

Delegation of Authority

Q9. As a result o delegation, employees get more opportunities to utilize their talent. Which importance of delegation is stated here? (4)

Q10. “Authority can be delegated but accountability cannot.” Explain the statement. (4) Orientation for TEDxUniversityofDelhi tomorrow at the YUVA - E-Cell (SSCBS) incubation centre Shaheed Sukhdev College of Business Studies , 11:45 AM

Q11. The Marketing Manager of an organization has been asked to achieve target sales of 100 generators per day. He delegates the task to 10 sales managers working under him. Two of them could not achieve their respective targets. Is the marketing manager responsible? Briefly explain the relevant principle in support of your answer. (4)

Q12. The directors of Kamal limited, an organization manufacturing computers, want to double the sales and have given this responsibility to their sales manager. The sales manager has no authority either to increase the sales expenses or appoint new salesman. Hence, he could not achieve this target. Is the sales manager responsible for not achieving the target? Explain, in brief, the relevant principle in support of your answer. (4)

Decentralization

Q13. It refers to the systematic delegation of authority from top management to the lower level managers. Mention it. (1)

Q14. “If we delegate the authority, we multiply it by two; if we decentralize it, we multiply it by many”. How? (4)

Q15. It refers to systematic effort to delegate all authority to the lowest level except that which can be exercised at central points. Name it and explain its two importance. (4)

Chapter-6Staffing

Meaning, Definitions, Need and Importance of Staffing

Q1. It is described as a managerial function of filling and keeping filled the positions in the organization structure. Which function of management is referred here? (1)

Human Resource Management ( or Personnel Management)

Q2. It is the recruitment, selection, development, utilization, compensation and motivation of human resources of the organization. Give the name of the concept mentioned here. (1)

Process/Steps of Staffing

Q3. It implies introducing the selected employee to other employees and familiarizing him with the rules and policies of the organization. Name it. (1)

Q4. What does work force analysis reveal? (1)

Q5. What is the next step after selection? (1)

Meaning and Sources of Recruitment

Q6. It seeks to attract suitable applicants to apply for available jobs. Give the term. (1)

Q7. Promotion is a vertical shifting of employees. How does it affect the employees? (1)

Q8. These are run by Government as a source of recruitment for unskilled and skilled operative jobs. What is being referred here? (1)

Q9. Which type of personnel is recruited by management consultancy firms? (1)

Q10. Himesh is working as a supervisor in a company. Due to his hard work he is promoted to the post of Production Manager. Now the post of supervisor is vacant and no one can be transferred or promoted to this post. Name the source of recruitment the company will use to fill up this post. State any three advantages of using this source of recruitment. (4)

Selection and Steps of Selection process

Q11. Name the test which is used as a measure of individual’s potential for learning new skills. (1)

Q12. Which step in the process of selection helps the manager eliminate unqualified or unfit job seekers based on the information supplied in the application forms? (1)

Q13. What is formal, in-depth conversation conducted to evaluate the applicant’s suitability for job called? (1)

Q14. It is a managerial decision making process as to predict which job applicants will be successful if hired. Name it. (1)

Q15. Why is selection considered a negative process? (1)

Q16. It is a test used for the selection of employees to measure individual’s potential for learning new skills. Mention its name and explain two other tests also. (4)

Training and Development

Q17. It is the process of increasing the knowledge and skills of an employee for doing a particular job. Which process is referred here? (1)

Methods of Training

Q18. Which type of training is a joint programme of training in which educational institutions and business firms cooperate? (1)

Q19. Trainee is put under the guidance of a master worker to acquire a higher level of skill. For example to become plumber, electrician, etc. Which method of training is referred here? (1)

Q20. In which type of training, employees learn their jobs on the equipment they will be using, but the training is conducted away from the actual work floor? Explain two other methods relating to this type of training. (4)

Chapter-7Directing

Meaning, Characteristics, Principles, Importance and Elements of Directing

Q1. Every manager from top executive to superior performs the function of directing. Which characteristic of directing is referred here? (1)

Q2. It takes place throughout the life of the organization irrespective of people occupying managerial positions. Mention the characteristic of directing highlighted here and also explain two more characteristics. (4)

Q3. Directing facilitates introduction of needed changes in the organization. Give one example to support this statement. (4)

Q4. State the principle of directing highlighted in the following statements: (4)i) For some people money can act as powerful motivator while for others

promotion may act as effective motivator.ii) Directing should convey clear instructions to create total understanding to

subordinates.iii) It should bring out untapped energies of employees for the efficiency of

organization.

Supervision- Importance, Role and Functions of a Supervisor

Q5. It means overseeing the subordinates at work. Which element of directing is referred here? (1)

Q6. In what two ways the term supervisor can be understood? (1)

Motivation, Its Importance, Features and Need Hierarchy, Compensation and Incentives

Q7. It refers to the way in which urges, drives, desires, aspirations, strivings or needs direct control and explain the behavior of human beings. Which element of directing is indicated here? (1)

Q8. Motivation can be either positive or negative. Give two examples of negative motivation. (1)

Q9. Which need in the hierarchy theory of motivation refers to the affection, acceptance and friendship? (1)

Q10. It is an incentive offered over and above the wages/salary to the employees. Name the type of financial incentive referred here. (1)

Chapter-9

Meaning/Definitions, Role, Objectives of Financial Management and Functions of Finance Managers

Q1. Why is finance required for a business? (1)

Q2. Finance is required for buying those variety of assets, that may be tangible or intangible. Give few examples of such intangible assets. (1)

Financial Decisions, i.e., Investment Decision (Capita Budgeting Decision/ Working Capital Decision). Financing Decision and Dividend Decision- Meaning and Factors Affecting

Q3. Give the term which implies a long-term investment decision. (1)

Q4. A company wants to establish a new unit in which machinery of worth Rs.10 lakhs is involved. Identify the type of decision involved in financial management. (1)

Q5. One factor affecting capital budgeting decision is cash flow of the project. Name two factors. (1)

Q6. Identify why the requirements of Fixed Capital for a trading concern are different from that of a manufacturing organization. (1)

Q7. It refers to investment in long-term assets. Mention this type of capital. (1)

Q8. How should fixed assets be financed? (1)

Q9. Fixed assets should never be financed through short-term sources. Do you agree? (1)

Q10. If a company enters into successful collaborations with other organizations, how will it affect its requirement of fixed capital? (1)

Q11. Availability of lending facilities as an alternative of outright purchase will reduce the funds required to be invested in fixed assets. Do you agree? (1)

Q12. Investment criteria is one of the factor which affects capital budgeting decision. List three criteria. (1)

Q13. A long-term investment is called as----- Complete it. (1)

Working Capital- Types and Factors Affecting Working Capital Requirements

Q14. Among the following current assets- Cash in hand, Marketable securities, Bills receivables- which one is the least liquid? (1)

Q15. How does production cycle affect the requirement of working capital? (1)

Q16. Identify the decision taken in financial management which affects the liquidity as well as the profitability of business. (1)

Q17. State why the working capital needs for a ‘Service Industry’ are different from that of a Manufacturing industry. (1)

Q18. How does different phases of business cycle affect the requirements of working capital by a firm? (1)

Q19. How can a liberal credit policy affect working capital requirements of an organization? (1)

Q20. Higher level of competition may increase the working capital requirements. Do you agree? (1)

Q21. How do working capital decisions (or short term investment decisions) affect the business? (1)

Q22. A businessman who wants to start a manufacturing concern approaches you to suggest him whether the following manufacturing concerns would require large or small working capital:

a) bread

b) Sugarc) Coolersd) Furniture manufacturing against specific orders, ande) Motor car

Give your view point with reasons in each of the above cases. (6)

Financing Decision- Meaning and Factors affecting it

Q23. The directors of a company have decided to expand their business activities by increasing the stock of raw materials and finished goods at an estimated cost of Rs.50 lakhs. Describe the various ways open to the company to raise necessary finance for the purpose. ORThe directors of Pooja Ltd. have decided to expand the business activities by increasing the stock of raw materials and finished goods at an estimated cost of Rs.50 lakhs. As a finance manager of the company, advise the directors about the methods open to the company to raise necessary finance for this purpose. (4)

Q24. The directors of Gama Ltd. have decided to modernize the plant and machinery at an estimated cost of Rs.1 crore, but are in a fix whether to issue equity shares or debentures for this purpose. As finance manager of the company, advise the directors whether to issue equity shares or debentures in the interest of the company and why? (4)

Q25. The directors of a company have decided to modernize the plants and machinery at an estimated cost of Rs.1 crore, but could not decide whether to issue equity shares or preference shares for this purpose. As finance manager of the company, advise the directors whether to issue equity shares or preference shares in the interest of the company. (4)

Capital Structure- Meaning features and Factors Determining Capital Structure

Q26. How is cost of debt one of the factor affecting the choice of capital structure? (1)

Q27. Name the concept which increases the return on equity shares with a change in the capital structure of a company. (1)

Q28. Favorable financial coverage occurs in what kind of situation? (1)

Q29. Is trading on equity advisable when use of debt reduces the EPS? (1)

Q30. What should a company issue- shares or debentures if it does not want to loose control over the management of the company? (1)

Q31. If stock markets are bullish then what would be more easy for the company to issue? (1)

Dividend Decision- Meaning and Factors Affecting Dividend Policy

Q32. Delta Cables Ltd. earned a profit of Rs.50 crores. Atul, the finance manager of Delta Cables Ltd. wants to decide how to appropriate these profits. Which financial decision will help him in deciding it? (1)

Q33. How can taxation policy be a factor affecting dividend decision? (1)

Q34. If companies have easy access to the capital market what decision regarding paying dividends should be taken? (1)

Q35. ‘How much of the profit earned by a company is to be distributed to the shareholders and how much of it should be retained in the business for meeting the investment requirements’- Which financial decision considers this? (1)

Financial Planning- Meaning, Objectives, and Importance

Q36. Finance planning strives to achieve twin objectives. Enumerate them. (1)

Q37. Typically, financial planning is done for three to five years. Why not for long periods? (1)

Q38. What is required to tackle the uncertainty in respect of availability and timings of funds? Name the concept involved and explain any three points of its importance. (1)

Q39. Name the process which helps in determining the objectives, policies, procedures, programs, and budgets to deal with the financial activities of an enterprise. Explain any three points of importance. (1)

Q40. To avoid the problem of shortage and surplus of funds what is required in financial management? Name the concept and explain its any three points of importance. (1)

Chapter-10

Financial Markets-Different Meaning and Types

Q1. By linking the savers and the investors by mobilizing funds between them which function does financial market perform? (1)

Q2. If the allocative function is performed well, what are the consequences that will follow? (1)

Q3. There are two major alternative mechanisms through which allocation of funds can be done. Mention these alternatives. (1)

Q4. Financial markets exist wherever a financial transaction occurs. In what forms financial transaction occur? (1)

Q5. Financial markets facilitate easy purchase and sale of financial assets. Which function of financial markets is highlighted here? (1)

Capital Market- Meaning, Nature/ Features and Importance

Q6. What does capital market consist of? (1)

Primary Market and Secondary Market

Q7. It refers to allotment of securities by a company to institutional investors and to some selected individuals. Name it. (1)

Q8. Which market is meant for the purchase and sale of existing securities? (1)

Q9. In this method of floatation in primary market, securities are not issued directly to the public but are offered for sale through intermediaries like issuing houses or stock brokers. Name this method. (1)

Q10. Which method of floatation involves issuing capital to the public through the on-line system of stock exchange? (1)

Money Market

Q12. It is a market for short term funds which deals in monetary assets whose period of maturity is upto one year. Name it. (1)

Q13. It is basically an instrument of short-term borrowings by the Government of India maturing in less than one year. Name it. (1)

Q14. It is a short-term unsecured promissory note, negotiable and transferable by endorsement and delivery within a fixed maturity period. Name it. (1)

Q15. It is used for inter-bank transactions. It is a short-term finance repayable on demand with a maturity period of one-fifteen days. Which instrument does it indicate? (1)

Q16. Name the instrument which is unsecured, negotiable, short-term instrument in bearer form, issued by commercial banks and development financial institutions. (1)

Q17. It is a short-term negotiable, self-liquidating instrument which is used to finance the credit sales of firms. Which instrument is referred here? (1)

Q18. When does a trade bill is known a commercial bill? (1)

Distinction between Capital Market and Money Market

Q19. Distinguish between capital market and money market on the basis of expected return. (1)

Q20. You are a finance expert. One of your friends comes to you and tells you that the capital market and the money market are one and the same, whereas you differ with him. How would you convince him? Give any four reasons. (4)

Stock Exchange- NSEI, OTCEI-Meaning, Functions, Features, Purpose and Trading Procedure

Q21. It is an institution which provides a platform for buying and selling of existing securities. Mention it. (1)

Q22. What does dematerialization of securities refer to? (1)

Q23. Stock exchange gives investors the chance to disinvest and reinvest. Which function of stock exchange is highlighted here? (1)

Q24. Membership of a stock exchange is well regulated and its dealings are well defined according to the existing legal framework. What does this ensure to investing public? (1)

Q25. How does stock exchange contribute to capital formation and economic growth? (1)

Q26. What are the benefits derived from the ‘demutualization’ of stock exchanges? (1)

Q27. An electronic book entry form of holding and transferring securities has been introduced to eliminate the problems of theft, forgery, transfer delays and time involved in paperwork. What is it referred to as? (1)

Q28. Who all are included in the board of NSE? (1)

Q29. Which market segment of NSE provides an efficient and transparent platform for trading in equity, preference, debentures, exchange traded funds as well as retail Government securities? (1)

Q30. Which is the OTC exchange in USA? (1)

Q31. List major Indian market indices. (1)Securities and Exchange Board of India (SEBI)- Meaning, Objectives and Functions

Q32. Which two advisory committees are formed by SEBI? (1)

Q33. Promotion of fair practices and code of conduct in securities market is one of the functions of SEBI. Which type of function is it? (1)

Q34. What do you mean by insider trading? (1)

Q35. List some examples of the malpractices in capital market which necessitated for Government to set up a separate regulatory body-SEBI. (1)

Chapter-11

Market, Customer, Seller/ Marketeer- Meaning

Q1. List different ways in which the term- ‘marketing’ is being used. (1)

Marketing- Meaning, Definitions, Features, Role, Elements and Business Concepts/ Philosophies

Q2. In modern times, emphasis is placed on describing marketing as a social process. State this process. (1)

Q3 For any exchange to take place, it is important that some conditions should be satisfied. Mention one such condition. (1)

Q4. Philip Kotler has defines it as, ‘a social process by which individual groups obtain what they need and want through creating offerings and freely exchanging products and services of value with others’. Mention the process indicated here. (1)

Q5. When will offer for a good can be taken a good ‘market offer’? (1)

Q6. Marketing activities are equally relevant to non-profit organizations such as hospitals, schools, sport clubs and social and religious organizations. How does marketing help them? (1)

Q7. Anything that is of value to the other can be marketed. List what all can be marketed. (1)

Q8. Can a buyer be treated as the marketeer? If yes, when? (1)

Q9. Anybody who takes more active role in the exchange process will be taken as the marketeer. Do you agree? (1)

Q10. One feature of marketing is customer value. Name one more feature. (1)

Q11. ‘The present marketing is customer-oriented’. Explain this statement. (1)

Marketing Management- Meaning, Definitions, Nature and Objectives

Q12. It has been defined as the art and science of choosing target markets and getting, keeping, and growing customers through creating, delivering, and communicating superior customer values of management. Mention the concept defined here. (1)

Q13. First step in the process of marketing management involves choosing a target market Give an example relating to this step. (1)

Marketing Functions

Q14. Why is gathering and analyzing market information necessary? (1)

Q15. What impact can a good design of a product have? (1)

Q16. What does standardization of goods ensure the buyers? (1)

Q17. How does grading of goods ensure the buyers? (1)

Q18. How do customer support services as a marketing function prove effective? (1)

Q19. Physical contribution as a function of marketing involves two major decision areas. List these decision areas. (1)

Difference between marketing and selling

Q20. On the basis of emphasis, how are marketing and selling different from each other. (1)

Marketing Mix- Product, Price, Place and Promotion

Q21. A tube of toothpaste usually comes in a cardboard box. Which level of packaging does it refer to? (1)

Q22. Labeling helps in grading of products. Support it with an example. (1)Q23. It refers to the use of communication with the twin objective of informing potential consumers about a product and persuading them to but it. Name it. (1)

Q24. There are many controllable and uncontrollable factors affecting marketing ‘decisions. What are the uncontrollable factors called? Give its two examples. (1)

Q25. There can be three types of benefits a customer may seek to satisfy from the purchase of a product. Enumerate these benefits. (1)

Q26. Name the products in which the buyers while purchasing devote considerable time to compare the quality, price, style, suitability, etc. at several stores before making final purchase. (1)

Q27. How does labeling provide information required by law? Give an example. (1)

Q28. It can be defined as the amount of money paid by a buyer in consideration of the purchase of a product or a service. Name it. (1)

Q29. One of the factors affecting price determination is product. Cost assumes that there are 3 types of cost. Two of these are fixed cost and variable cost respectively. Mention and define the third type of cost. (1)\

Q30. What are the people, institutions, merchants, functionaries who take part in the distribution function called as? (1)

Q31. What does the allocation as a function of distribution channels involve? (1)

Q32. Maruti Udyog/ sells its cars and vans through company approved retailers. Which type of indirect channel of distribution is it? (1)

Q33. Some products have certain unique features. They attract a significant group of buyers. Identify the kind of product and list its features. (1)

Objections to Advertising

Q34. Some people do not believe that advertising undermines social values. Give reason. (1)

Q33. How does advertisement confuse the buyers? (1)

Q35. Give one example of an advertisement which is bad in taste. (1)

Q36. ‘The money spent on advertising is not wasteful, but an investment.’ Do you agree? Give reasons. (6)

Q37. ‘Advertisement is unnecessary and wasteful.’ Do you agree? Give reasons. (1)

Personal Selling- Meaning, Features and Importance

Q38. In which case- advertising or personal selling, cost per person reached is quite high? (1)

Q39. Personal selling possesses the advantage of flexibility. Why? (1)

Q40. Personal selling minimizes wastage of efforts. How does this help the business persons? (1)

Sales Promotion and Trade Promotion- Meaning, Merits and Limitations, Variety of tools/ Methods Used

Q41. Sales promotion is useful new product launch. How? (1)

Q42. Name the sales promotion technique which involves refunding a part of price paid by customer on return of empty foils or wrapper. (1)

Q43. ‘100 gm bottle of sauce free with 1 kg detergent’. Which sales promotion technique is involved here? (1)

Q44. ‘Get a discount voucher for accessories on apparel purchase of Rs.1000 and above’. Mention this sales promotion technique. (1)

Q45. ‘Scratch a card and win exciting prizes’. Which technique of sales promotion suggests this? (1)

Q46. ‘Buy one get one free’ is an example of one of the techniques of sales promotion. Name the technique and explain two other techniques with examples. (4)

Q47. ‘100 grams of extra material in a pack of one kg’ is an example of one of the techniques of ‘Promotion-Mix’. Name the technique and explain two other techniques of promotion-mix. (4)

Q48. ’50 grams extra’ with this pack of toothpaste is an example of one of the techniques of Promotion Mix. Name the technique and explain two other techniques of promotion- mix.

Chapter-12

Consumer Protection- Concept, Aspects and its need

Q1. Mention the Act which provides protection to consumers. (1)

Q2. The scope of Consumer Protection Act is very wide. Explain, how? (1)

Importance of Consumer Protection

Q3. Business firms should aim at long-term profit maximization through customer satisfaction. Why? (1)

Q4. How can government intervention or action against a company engaging in exploitative trade practices affect its images? (1)

Consumer Rights and Responsibilities

Q5. Which consumer right entitles the consumer to get relief in case the product or ser vice falls short of his expectations? (1)

Q6. Consumer has a right to acquire knowledge and to be a well informed consumer throughout life. Which consumer right does it indicate? (1)

Q7. Ahmad wants to buy an iron. As an aware customer how can he be sure about the quality of iron? (1)

Q8. Rita wants to buy a packet of juice. As an aware customer how can she be sure about the quality of juice? (1)

Q9. Rita wants to buy a gold ring. As an aware customer how can she be sure about the quality of gold ring she is going to buy? (1)

Q10. It is because of this right of the customer that many enlightened business firms have set up their own consumer service and grievance calls. Name it. (1)

Q11. Mention the consumer right that entitles the customer to have complete information about the product he intends to buy. (1)

Q12. It is the responsibility of the customer to buy only standardized goods as they provide quality assurance. Give few examples of such goods. (1)

Q13. How can a customer fulfill his responsibility of respecting the environment? (6)

Q14. I saw an advertisement in the paper regarding a domestic iron and ordered for the purchase of the same to the shopkeeper. What will be my responsibilities as a customer so that I should not be exploited by the shopkeeper? State any four such responsibilities. (6)

Ways and Means of Consumer Protection

Q15 Vikas Vijay purchased a machine for Rs.1.5 crores from a company and found it defective. Defect was not rectified in spite of repeated complaints to company. Suggest to him the appropriate authority where he could a file a complaint under Consumer Protection Act. (1)

Q16. If R.N. Vijay is not satisfied with the order of the District Forum, where can he appeal? (1)

Q17. Mohit filed a case against ‘Domestic Coolings Ltd.’ in the ‘District Forum’, but he was not satisfied with the orders of the forum. Where can he appeal further against the decisions of the District Forum? (1)

Q18. Amrit filed a case against ‘Volvo Ltd.’ in the ‘State Commission’, but he was not satisfied with the orders of the State Commission. Where can he appeal further against the decisions of the State Commission? (1)

Q19. Mohit filed a case against ‘Mahindra Ltd.’ in the ‘National Commission’, but he was not satisfied with the orders of the National Commission. Where can he appeal further against the decisions of the National Commission? (1)

Q20. Give two examples of business associations which lay down for their members the guidelines in their dealings with the customers. (1)

Q21. What role can consumer organizations play in providing consumer protection? (1)

Q22. Who sets up the State Commissions and the District Forum? (1)

Q23. What does National Commission consist of? (1)

Role of Consumer Organization/ NGO’s, Consumer Coordinating Councils and Press, Universities

Q24. Who can play a role in achieving objective of consumer protection? Give two names. (1)

Q25. Consumer Organizations and NGO’s perform several functions for the protection and promotion of interests of consumers. Explain any one such function. (1)

Q26. What do NGO’s and CPC stand for? (1)