EXTRA QUESTIONS OF CHAPTER-11

MAY 14

DAY 4

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GOOD MORNING BOYS!

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XII A- https://forms.gle/WcJ2cBATxH9xMP7B7

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TODAY WE WILL COMPLETE MARKETING MANAGEMENT AND REVISE CHAPTER- 1 AND 2 FOR PA 1 EXAM ON MONDAY.

THERE WILL BE A GOOGLE MEET AT 11.45 AM. LINK WILL BE SENT ON THE CLASS GROUP.

LEARNING OUTCOMES: At the end of the topic, students will be able to:
1) Explain what can be marketed.
2) List the various types of utilities.
3) Identify the answers in the case studies from Chapter- 1 and 2.

FIRST COMPLETE EXTRA QUESTION AND ANSWERS FROM CHAPTER-11:

Q.25 What can be marketed. (4)
Ans- A product can be defined as a bundle of utilities or a source of satisfaction that can be used for satisfying human needs and wants.
Some examples which can be marketed are as follows :
1. Physical products like Scooter ,Car, Soap , etc.
2. Services like Healthcare , Security, Doctors , etc
3 .Ideas like Swachh Bharat Abhiyan, Digital India , Blood Donation , etc.
4. Persons like at the time of election like Lok Sabha Election candidates are marketed.
5. Place like Visit Agra- The city of love, Udaipur- The city of lakes, etc.
6. Events like Diwali mela, Commonwealth games, Music concerts, etc.
7. Information like Technology Information, Stock Market Information, etc.
8. Organisation like Tata, Maruti Udyog, LG, etc.
9. Experience like Lunch with a Celebrity, Horse Riding , Book Writing, etc.

Q.26 What is a Product? Explain three types of benefits which one gets from the purchase of
products. ( 4)
Ans- A product means goods or services or anything of value which is offered to the market for sale. It is a mixture of tangible and intangible attributes which are capable of being exchanged for a value to satisfy customer needs . There can be three types of benefits a customer may get from the purchase of a product -
1. Functional benefits like the purchase of a motorcycle provides functional utility of transportation.
2. Psychological benefits like it satisfies the need for Prestige and Esteem .
3. Social benefits like it provides social benefit by the way of acceptance from a group by riding a motorbike.

YESTERDAY'S ANSWERS:

1) FUNCTIONS OF MANAGEMENT ARE PLANNING, ORGANISING, STAFFING AND CONTROLLING.
2) IMPORTANCE OF MANAGEMENT HIGHLIGHTED IN THE CASE STUDY ARE:
A) MANAGEMENT HELPS TO ACHIEVE GROUP GOALS.
B) MANAGEMENT HELPS TO ACHIEVE PERSONAL OBJECTIVES.
C) MANAGEMENT INCREASES EFFICIENCY.

TODAY'S QUESTIONS:

1) Govinda Ltd. is a highly reputed company.  Different functions are performed by different individuals in this company, who are bound together in a hierarchy of relationships.  Every individual in the hierarchy is responsible for successful completion of a particular task. Mr. Gauranga is responsible for the welfare and survival of the organization.  He formulates overall organizational goals and strategies for their achievement. 
Mr. Nityanand ensures that quality of output is maintained, wastage of materials is minimized and safety standards are maintained.  Mr. Sanatan assigns necessary duties and responsibilities to the personnel and motivates them to achieve desired objectives.
At what levels of management are MR. Gauranga, Mr. Nityanand and Mr. Sanatan working in Govinda Ltd.?  Justify your answer.        (3 marks)

2)The principles of Taylor and Fayol are mutually complementary.  On believed that
management should share the gains with the workers while the other suggested that
employees’ compensation should depend on the earning capacity of the company and should
give them a reasonable standard of living.
Identify and explain the principles of Fayol and Taylor referred to in the above paragraph.(3)

GOD BLESS YOU ALL!