Different Pricing Policies for management Important pricing policies which business firms follow in practice are described below: 1. Skimming-the-cream Pricing : This refers to the policy of charging high prices in the initial stages of the life of a product. The initial high prices serve to skim the cream of the inelastic market and [...]
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Poisson Distribution The characteristics of the poisson distribution are as follows: (i) The occurrence of the event is independent. That is, the occurrence of an event in an interval of space or time has no effect on the probability of a second occurrence of the event in the same or any other interval. [...] Financial Intermediaries Financial Intermediaries as the name suggests are the go-between the firms and the households and deal in financial claims. We can formally define a financial intermediary as “an organisation through which funds in form of motley or claims to money are assembled and transferred from those individuals and firms having a [...] Objectives of Trade union Ans. In every society it has been recognised that in discharging the basic functions unions have to operate on many fronts; social, economic, civic and political. This sentence reflects the objects which are to pursued by trade unions. They pursue the following objects. (i) Better wages : On the economic [...] What is the dual problem? Discuss the advantages of linear programming? Ans. Every linear programming problem has a counterpart problem called its dual. The original problem is referred toas the prima! problem. If the primal problem requires maximisation, the dual problem is one of minimisation, or if the primal is a minimisatio1 problem the [...] Relationship between planning and other management functions Ans. Planning : Is the most basic and revassive of all management functions. This and the other managerial functions and activities are interrelated, interdependent, and interacting. It is clear that the each of the functions aspects the others and is in turn, affected by them. Organizing and [...] What do you understand by Deontological Ethics Theories? Ans. Deontological ethics theories maintain that responsibility fulfilling obligations, following proper procedure, “doing the right thing:’ and adhering to moral standards determine the ethical value of actions. Deontological ethics maintains that actions are morally right independent of their consequences; for example, for the secularist, it [...] What are the objectives of conducting a competitor analysis? Ans. The purpose of conducting a competitor analysis are given below: (I) Determine each coi4tpetitor’s probable reaction to the industry and environmental changes. (ii) Anticipate the response of each competitor to the likely strategy moves by the other from, and (iii) Develop a profile of [...] What are the different conditions for the use of Probable Error? Ans. The measure of Probable Error can be properly used only when the following three conditions exist: (i) The data must approximate to a normal frequency curve (bell-shaped curve). (ii) The statistical measure for which the P. E. is computed must have [...] What are main concerns in Positioning? Ans. Main concerns in Positioning are given below: (I) A product cannot be Everything to Everyone; Hence, the importance of Positioning; (ii) Positioning means putting the product in a predetermined orbit. (iii) Positioning connects product offering with target market. (iv) Consumer’s mind a geometric perceptual space, the product/brand [...] |
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