Long Answer TypeYou are the Financial Manager of a newly established company. The Directors have asked you to determine the amount of working capital requirement for the company. Explain any four factors that you will consider while determining the working capital requirement for the company.
Name the element of Marketing-mix in which a set of firms and individuals creates possession, place and time utility and helps in market offering. Also explain any five important functions performed by this element.
Identify and explain the promotional tool of Marketing-mix which plays a persuasive, service and informative role and thereby link a business firm to its customers. Also explain by giving any four reasons how this tool helps in increasing the sales of businessmen.
The promotional tool of marketing mix which plays a persuasive, service and informative role and links a business firm to its customers is personal selling. Personal selling involves oral presentation of message in the form of conversation with one or more prospective customers for the purpose of making sales.
Personal selling is a powerful tool which helps to increase the sales of businessmen. The importance of personal selling to a business organisation may be described as follows:
(i) Effective Promotional Tool: Personal selling is a very effective promotional tool, which helps in influencing the prospects about the merits of a product and thereby increasing its sale.
(ii) Flexible Tool: Personal selling is more flexible than other tools of promotion such as advertising and sales promotion.
(iii) Minimizes Wastage of Efforts: Compared with other tools of promotion, the possibility of wastage of efforts in personal selling is minimum. This helps the business persons in bringing economy in their efforts.
(iv) Consumer Attention: There is an opportunity to detect the loss of consumer attention and interest in a personal selling situation. This helps a business person in successfully completing the sale.
Reena purchased one litre of pure Deshi Ghee from a shopkeeper. After using it she had a doubt that it is adulterated. She sent it for a laboratory test which confirmed that the Ghee is adulterated. State any six reliefs available to Reena, if she complaints and the consumer court is satisfied about the genuineness of the complaint.
Prakhar purchased an ISI mark electric iron from 'Bharat Electricals'. While using he found that it was not working properly. He approached the seller and complained for the same. The seller satisfies Prakhar by saying that he will ask the manufacturer to replace this iron. The manufacturer refused to replace and Bharat Electricals decided to file a complaint in the consumer court.
Can 'Bharat Electricals' do this? Why? Also explain 'who is a consumer' as per Consumer Protection Act, 1986
Switch
