PROBLEMS.pdf

Which contracts are used for product availability and

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Question 44-45.8 Which contracts are used for product availability and supply chain profits? Answer The contracts used for product availability and supply chain profits are (1) Contracts for product availability, (2) Buyback or returns contracts, (3) Revenue-sharing contracts, and (4) Quantity flexibility contracts Question 46.1 a. What do you mean by “market?” b. Can a seller be a marketer?
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Answer a. A market consists of all the potential customers sharing a particular need or want who might be willing and able to engage in exchange to satisfy that need or want. b. If several persons want to buy a plot of land, then these buyers are doing the marketing and are the marketers. Question 46.2 What are the ways in which a market can be segmented? Answer Market segmentation can be - geographic - demographic (age: young and old, income: high, medium, and low, sex: male or female) - Psychological (social class, lifestyle, personality characteristics) - Behavioural (occasions, benefits, user status, usage rate, loyalty status, buyer readiness stage, and attitude) - preferences toward product features (homogeneous, diffused, and clustered) Question 46.3 On the basis of variety of products and markets what patterns of market coverage can a company think of? Answer 1. Single-market concentration – Single-product single-market segment pattern 2. Product specialization – Single-product multiple market segment pattern 3. Market specialization – Multiple-product single-market segment pattern 4. Selective specialization – Selective multiple-product multiple-market segment pattern 5. Full coverage – multiple-product multiple-market segment pattern 6. Super segmentation – multiple-product multiple-market segment pattern pattern Question 46.4 State five important marketing strategies that an entrepreneur can use. Answer Five marketing strategies are the following: - Specializes in serving one type of end-use customer.
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- Concentrates on selling to small customers - Produces a specific product or even part of a product - Provides unique product feature - Produces low price high-quality products Question 46.5 What are the tools of market promotion? Answer Usually the following four tools are used for market promotion: - Advertising – non-personal presentation - Sales promotion – short-term incentives such as rebates, low-interest financing, lotteries, gifts, demonstrations - Publicity – non-personal stimulation of demand such as trade shows, speeches, seminars, annual reports, charitable donations, public relations - Personal selling – oral presentation such as sales meeting, telemarketing Question 47.1 What are the main forms of business organization? Answer The main forms of business organization are (1) Sole Proprietorship, (2) Partnership Firms, (3) Joint Hindu Family Business, (4) Cooperatives, (5) Private Limited Company, (6) Public Limited Company, (7) Limited Liability Partnership, (8) Companies within Section 25 of Companies Act, 1956, and (9) Franchise.
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