MANBIR SINGH PARMAR                     ROLL NO 581127511                        MBA IN MARKETING                  Master ...
MANBIR SINGH PARMAR                    ROLL NO 581127511                       MBA IN MARKETINGContext:Further phases may ...
MANBIR SINGH PARMAR                     ROLL NO 581127511                        MBA IN MARKETINGprocedurally, it simplifi...
MANBIR SINGH PARMAR                       ROLL NO 581127511                        MBA IN MARKETINGdescribe how the custom...
MANBIR SINGH PARMAR                     ROLL NO 581127511                         MBA IN MARKETINGSo, we learn about natur...
MANBIR SINGH PARMAR                     ROLL NO 581127511                       MBA IN MARKETINGThis category covers all a...
MANBIR SINGH PARMAR                     ROLL NO 581127511                       MBA IN MARKETINGYourDictionary Definitions...
MANBIR SINGH PARMAR                     ROLL NO 581127511                       MBA IN MARKETING                          ...
MANBIR SINGH PARMAR                            ROLL NO 581127511                               MBA IN MARKETINGdosomething...
MANBIR SINGH PARMAR                             ROLL NO 581127511                                MBA IN MARKETINGis releas...
MANBIR SINGH PARMAR                     ROLL NO 581127511                        MBA IN MARKETING                Master of...
MANBIR SINGH PARMAR                     ROLL NO 581127511                        MBA IN MARKETINGsuccessfully navigate thr...
MANBIR SINGH PARMAR                      ROLL NO 581127511                        MBA IN MARKETINGWhat is your gender?[ ] ...
MANBIR SINGH PARMAR                     ROLL NO 581127511                        MBA IN MARKETINGHerein the distance betwe...
MANBIR SINGH PARMAR                      ROLL NO 581127511                        MBA IN MARKETINGSuppose we flipped the c...
MANBIR SINGH PARMAR                      ROLL NO 581127511                         MBA IN MARKETINGQ.5 What are the limita...
MANBIR SINGH PARMAR                     ROLL NO 581127511                         MBA IN MARKETINGThe second feature of a ...
MANBIR SINGH PARMAR                     ROLL NO 581127511                       MBA IN MARKETING                        Ma...
MANBIR SINGH PARMAR                    ROLL NO 581127511                        MBA IN MARKETINGBMI predicts that sales th...
MANBIR SINGH PARMAR                    ROLL NO 581127511                       MBA IN MARKETINGAnswer:                    ...
MANBIR SINGH PARMAR                      ROLL NO 581127511                         MBA IN MARKETING                       ...
MANBIR SINGH PARMAR                     ROLL NO 581127511                        MBA IN MARKETINGThese retail outlets are ...
MANBIR SINGH PARMAR                     ROLL NO 581127511                         MBA IN MARKETING                        ...
MANBIR SINGH PARMAR                      ROLL NO 581127511                         MBA IN MARKETINGFunctional structure is...
MANBIR SINGH PARMAR                     ROLL NO 581127511                        MBA IN MARKETING       A sales strategy ...
MANBIR SINGH PARMAR                    ROLL NO 581127511                       MBA IN MARKETING                           ...
MANBIR SINGH PARMAR                      ROLL NO 581127511                         MBA IN MARKETINGA straight commission i...
MANBIR SINGH PARMAR                      ROLL NO 581127511                         MBA IN MARKETING       your closed door...
MANBIR SINGH PARMAR                     ROLL NO 581127511                        MBA IN MARKETINGsegment of our business, ...
MANBIR SINGH PARMAR                    ROLL NO 581127511                       MBA IN MARKETINGAppearance: Appearance mean...
MANBIR SINGH PARMAR                    ROLL NO 581127511                      MBA IN MARKETING                            ...
MANBIR SINGH PARMAR                         ROLL NO 581127511                            MBA IN MARKETINGLoyal CustomersNa...
MANBIR SINGH PARMAR                     ROLL NO 581127511                       MBA IN MARKETINGThe ego is called the exec...
MANBIR SINGH PARMAR                     ROLL NO 581127511                         MBA IN MARKETINGthere is a fair amount o...
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  1. 1. MANBIR SINGH PARMAR ROLL NO 581127511 MBA IN MARKETING Master of Business Administration - Semester 3 MB0050: “Research Methodology” (4 credits) (Book ID: B1206) ASSIGNMENT- Set 1 Marks 60 Note: Each Question carries 10 marks. Answer all the questionsQ1. a. Distinguish between Double sampling and multiphase sampling.ANSWER.DOUBLE SAMPLINGDefinition:A standard form of sample design for industrial inspection purposes. In accordance with the characteristicsof a particular plan, two samples are drawn, n1 and n2, and the first sample inspected. The batch can then beaccepted or rejected upon the results of this inspection or the second sample be inspected and the decisionmade upon the combined result.Context:The term has also been used somewhat loosely for what is called multi-phase sampling and the two-stageversion of multi-stage sampling. There is a further usage whereby a first sample provides a preliminaryestimate of design parameters which govern the size of the second sample to achieve a desired overall result.MULTI-PHASE SAMPLINGIt is sometimes convenient and economical to collect certain items of information from the whole of theunits of a sample and other items of usually more detailed information from a sub-sample of the unitsconstituting the original sample. This may be termed two-phase sampling, e.g. if the collection ofinformation concerning variate, y, is relatively expensive, and there exists some other variate, x, correlatedwith it, which is relatively cheap to investigate, it may be profitable to carry out sampling in two phases.At the first phase, x is investigated, and the information thus obtained is used either (a) to stratify thepopulation at the second phase, when y is investigated, or (b) as supplementary information at the secondphase, a ratio or regression estimate being used.Two-phase sampling is sometimes called "double sampling".MANBIR SINGH PARMAR ROLL 581127511[Type text] Page 1
  2. 2. MANBIR SINGH PARMAR ROLL NO 581127511 MBA IN MARKETINGContext:Further phases may be added if desired. It may be noted, however, that multiphase sampling does notnecessarily imply the use of any relationships between variates x and y. The expression is not to beconfused with multi-stage sampling.QUESTION 1 b. What is replicated or interpenetrating sampling? ANSWER. It involves selection of a certain number of sub-samples rather than one full sample from a population. All the sub-samples should be drawn using the same sampling technique and each is a self-contained and adequate sample of the population. Replicated sampling can be used with any basic sampling technique: simple or stratified, single or multi-stage or single or multiphase sampling. It provides a simple means of calculating the sampling error. It is practical. The replicated samples can throw light on variable non- sampling errors. But disadvantage is that it limits the amount of stratification that can be employed. IPS(interpenetrating sampling) provides a quick, simple, and effective way of estimating the variance of an estimator even in a complex survey. In fact, IPS is the foundation of modern resampling methods like Jackknife, bootstrap, and replication methods. In IPS, three basic principles of experimental designs, namely, randomization, replication, and local control, are used. IPS is used extensively not only in agriculture, but also in social sciences, demography, epidemiology, public health, and many other fields. QUESTION 2. What are the differences between observation and interviewing as methods of data collection? Give two specific examples of situations where either observation or interviewing would be more. ANSWER. While case study writing may seem easy at first glance, developing an effective case study (also called a success story) is an art. Like other marketing communication skills, learning how to write a case study takes time. What‘s more, writing case studies without careful planning usually results in sub optimal results? Savvy case study writers increase their chances of success by following these ten proven techniques for writing an effective case study: Involve the customer throughout the process. Involving the customer throughout the case study development process helps ensure customer cooperation and approval, and results in an improved case study. Obtain customer permission before writing the document, solicit input during the development, and secure approval after drafting the document. Write all customer quotes for their review. Rather than asking the customer to draft their quotes, writing them for their review usually results in more compelling material. Case Study Writing Ideas Establish a document template. A template serves as a roadmap for the case study process, and ensures that the document looks, feels, and reads consistently. Visually, the template helps build the brand; MANBIR SINGH PARMAR ROLL 581127511[Type text] Page 2
  3. 3. MANBIR SINGH PARMAR ROLL NO 581127511 MBA IN MARKETINGprocedurally, it simplifies the actual writing. Before beginning work, define 3-5 specific elements to includein every case study, formalize those elements, and stick to them. Start with a bang. Use action verbs and emphasize benefits in the case study title and subtitle.Include a short (less than 20-word) customer quote in larger text. Then, summarize the key points of thecase study in 2-3 succinct bullet points. The goal should be to tease the reader into wanting to read more. Organize according to problem, solution, and benefits. Regardless of length, the time-tested, mosteffective organization for a case study follows the problem-solution-benefits flow. First, describe thebusiness and/or technical problem or issue; next, describe the solution to this problem or resolution of thisissue; finally, describe how the customer benefited from the particular solution (more on this below). Thisnatural story-telling sequence resonates with readers. Use the general-to-specific-to-general approach. In the problem section, begin with a generaldiscussion of the issue that faces the relevant industry. Then, describe the specific problem or issue that thecustomer faced. In the solution section, use the opposite sequence. First, describe how the solution solvedthis specific problem; then indicate how it can also help resolve this issue more broadly within the industry.Beginning more generally draws the reader into the story; offering a specific example demonstrates, in aconcrete way, how the solution resolves a commonly faced issue; and concluding more generally allows thereader to understand how the solution can also address their problem.Q3. How case study method is useful to Business Research?ANSWER .While case study writing may seem easy at first glance, developing an effective case study (also called asuccess story) is an art. Like other marketing communication skills, learning how to write a case study takestime. Whats more, writing case studies without careful planning usually results in sub optimal results?Involve the customer throughout the process. Involving the customer throughout the case study developmentprocess helps ensure customer cooperation and approval, and results in an improved case study. Obtaincustomer permission before writing the document, solicit input during the development, and secureapproval after drafting the document.Write all customer quotes for their review. Rather than asking the customer to draft their quotes, writingthem for their review usually results in more compelling material.Case Study Writing IdeasEstablish a document template. A template serves as a roadmap for the case study process, and ensures thatthe document looks, feels, and reads consistently. Visually, the template helps build the brand; procedurally,it simplifies the actual writing. Before beginning work, define 3-5 specific elements to include in every casestudy, formalize those elements, and stick to them.Start with a bang. Use action verbs and emphasize benefits in the case study title and subtitle. Include a short(less than 20-word) customer quote in larger text. Then, summarize the key points of the case study in 2-3succinct bullet points. The goal should be to tease the reader into wanting to read more.Organize according to problem, solution, and benefits. Regardless of length, the time-tested, most effectiveorganization for a case study follows the problem-solution-benefits flow. First, describe the business and/ortechnical problem or issue; next, describe the solution to this problem or resolution of this issue; finally,MANBIR SINGH PARMAR ROLL 581127511[Type text] Page 3
  4. 4. MANBIR SINGH PARMAR ROLL NO 581127511 MBA IN MARKETINGdescribe how the customer benefited from the particular solution (more on this below). This natural story-telling sequence resonates with readers.· Quantify benefits when possible. No single element in a case study is more compelling than the ability totie quantitative benefits to the solution. For example, "Using Solution X saved Customer Y over $ZZZ, ZZZafter just 6 months of implementation;" or, "Thanks to Solution X, employees at Customer Y have realized aZZ% increase in productivity as measured by standard performance indicators." Quantifying benefits can bechallenging, but not impossible. The key is to present imaginative ideas to the customer for ways to quantifythe benefits, and remain flexible during this discussion. If benefits cannot be quantified, attempt to develop arange of qualitative benefits; the latter can be quite compelling to readers as well.Q 4. Would case studies be considered as scientific research? Why or why not?ANSWER.Science is a tool for study of the physical universeScience is a means of studying the physical world, it is not an approach that can answer all importantquestions. Those who offer science as the answer to all questions are as mislead as those who blame sciencefor all our problems. Fundamental questions about art, religion, the meaning of life, and our personal livesare simply outside the realm of science.Scientific KnowledgeSome people believe that since at times we revise our ideas in science, scientific knowledge is no differentthan myths or legends, and our knowledge does not progress.Nonsense. We may refine our ideas often and change them completely occasionally, but the success ofscience is difficult to question. There are different levels of certainty in scientific knowledge, and there areclear examples of progress: The Earth is flat. The Earth is a sphere. The Earth is an oblate spheroid.That sure looks like progress to me.We can describe scientific knowledge a number of ways, the classification below if from a book H.H. Bauer. Frontier Science - is information from ongoing research efforts reported at scientific meetings (an now the INTERNET). Primary Scientific Literature - is contained in the scientific journals most often published by organizations within the scientific community. This research has usually been through at least one level of peer review and is more reliable than the Frontier knowledge. Secondary Scientific Literature - consists of review articles and monographs that sift and synthesize the primary literature and includes another level of peer review. Textbook Science - is the result of more sifting of the research information and the secondary literature. Generally, this is the most reliable of scientific knowledge, provided the author of the text was fair and impartial in the presentation of the material.The Principle of UniversalityMANBIR SINGH PARMAR ROLL 581127511[Type text] Page 4
  5. 5. MANBIR SINGH PARMAR ROLL NO 581127511 MBA IN MARKETINGSo, we learn about nature by uncovering the patterns or rules that govern certain processes. In addition topresuming the existence of these rules, scientists make another assumption called the principle ofuniversality*:The laws of nature that we discover here and now are true throughout the universe and have been in effectfor all time.For much of the history of science, this principle was unknown, and if espoused, would have beenconsidered heretical. However, we have evidence to support the hypothesis.*Read James Trefils book, Reading the Mind of God, for more details.The GreeksIn the west, our scientific tradition began with the Greeks, who believed that the key to understanding naturewas reason. They thought observation distracted study from the true nature of an object, and hence did notbase their work on empirical evidence.They also believed that the laws of nature were different for objects in the heavens, and objects on Earth.For nearly 2000 years after Aristotle, study of nature was dominated by the idea that natural processes werein different parts of the universe.Q 5. What are the contents of research reports?ANSWER. CONTENTS OF A RESEARCH REPORTThe information in the first part of this section, Journal Articles, Books, Chapters in Books, PeerReviewed Published Conference Proceedings, Non-peer Reviewed Published ConferenceProceedings is filtered and extracted to formulate the Preliminary Publication Count for the Department ofEducation. This is a crucial step in the subsidy calculation process and it is of the utmost importance that thisinformation must be as comprehensive accurate as possible. All research publications, which appeared in2004, must be included, even if they are "in press". There will be an opportunity early in February to submitvolume and page numbers of papers, which have appeared in the interim. Publications should be listed usingthe Harvard referencing system, without using italics or bold. Journal names must appear in full.Abbreviations will be returned to departments for expansion. (Theses passed for higher degrees are subsidyearning but this information is not included in the Preliminary Publication Count.)The second part of this section, Published Conference Abstracts, Patents, Theses & Dissertationspassed for Higher Degrees, University Publications & Publications of a Popular Nature - UnrefereedJournal Articles, Newspaper Articles, CDs, Online Works, Extension and Development Work,Creative Work, Consultancy and Other Activities based on Expertise Developed in Research (givesdepartments the opportunity to demonstrate the extent and nature of their extension and development work),Motivation for the addition of a South African Journal to the list of South African approved journals.The work included here is not subsidy earning but nevertheless is an important aspect of scholarly activity atUCT.JOURNAL ARTICLESMANBIR SINGH PARMAR ROLL 581127511[Type text] Page 5
  6. 6. MANBIR SINGH PARMAR ROLL NO 581127511 MBA IN MARKETINGThis category covers all articles in journals. Articles fall into 2 categories - those for which the universityearns subsidy and are published in approved journals; and those for which the university does not get asubsidy. Please ensure that journal names appear in full and points below are clearly stated when submitting.1. Surnames & initials of authors 3. Title of article 5. Volume number 7. Page numbers of article 2. Year 4.Journal name 6. Issue numberBOOKSThis section must include ALL books, scholarly peer-reviewed, textbooks, novels, coffee-table books, etcproduced by UCT researchers. It should also include edited Conference Proceedings produced in a bookformat where a UCT staff member or researcher is the editor or part of the editorial panel. Details of year ofpublication, editor/s, publisher, place, total number of pages of books must be provided.1. Surnames & initials of authors 4. Target group/audience of book (only for subsidy-earning books 7. ISBNnumber (only for subsidy-earning books) 2. Year 5. If 2nd/3rd etc. edition, provide page numbers of newsections (only for subsidy-earning books) 8. Page numbers of book 3. Title of Chapter 6. Evidence of peerreview (statement from publisher on peer review policy) (only for subsidy- earning books) 9. Place ofpublication and publisherPEER REVIEWED PUBLISHED CONFERENCE PROCEEDINGSThis should include all papers published in Conference Proceedings, which are substantial refereedpublications, which will be the final and only publications of that material. This does not include publishedabstracts. Peer-reviewed published conference proceedings count for subsidy purposes and there must beevidence of the peer-review procedure. Please note that unpublished conference proceedings are notincluded.1. Surnames & initials of authors 4. Title of conference 6. Page numbers 2. Year 5. Evidence of peer review7. ISBN number 3. Title of paper 6. Place of conferenceNON-PEER REVIEWED PUBLISHED CONFERENCE PROCEEDINGSThis section includes published proceedings that have not been submitted to a strict peer-review process, andas such, are not subsidy-earning but are included in the annual research report.PUBLISHED CONFERENCE ABSTRACTSThis section should include abstracts of papers published in the formal scientific literature only. However,authoritative works such as plenary, honorific and invited keynote addresses/papers given at conferencesmay also be included.Q 6. Write short notes on the following:a. Medianb. Standard Deviationa. MedianANSWER.Median describes something in the middle or midpoint. (adjective)When something is scheduled to last for two months, one month is an example of the median timeframe.The median is the middle of a range of values. (noun)An example of median is the number 50, which is the middle of the range of the values 1-100.MANBIR SINGH PARMAR ROLL 581127511[Type text] Page 6
  7. 7. MANBIR SINGH PARMAR ROLL NO 581127511 MBA IN MARKETINGYourDictionary Definitions. Copyright © 2012 by LoveToKnow Corp.Ads by GoogleInternet Marketing Study Enroll In The Free AdWords Training Program For SEMProfessionals! www.Google.co.in/EngageSee median in Websters New World College Dictionaryadjective1. middle; intermediate2.a. designating a line extending from a vertex of a triangle to the middle of the opposite sideb. designating a line joining the midpoints of the nonparallel sides of a trapezoid3.a. designating the plane that divides a body or part into symmetrical partsb. situated in this plane4. STATISTICSa. designating the middle number in a series containing an odd number of items (Ex.: 7 in the series 1, 4, 7, 16, 43)b. designating the number midway between the two middle numbers in a series containing an even number of items (Ex.: 10 in the series 3, 4, 8, 12, 46, 72)noun1. a median number, point, or line2. an artery, vein, nerve, etc. in the middle of the body or along the imaginary plane that bisects the body into the right and left halves3. ☆the strip of land separating the lanes of opposing traffic of a divided highway in full median stripRelated Forms:MANBIR SINGH PARMAR ROLL 581127511[Type text] Page 7
  8. 8. MANBIR SINGH PARMAR ROLL NO 581127511 MBA IN MARKETING May 2012 Master of Business Administration - Semester 3 MB0051: “Legal Aspects of Business (4 credits) (Book ID: B1207) ASSIGNMENT- Set 1 Marks 60Q1. What are the sources of law? Explain.ANSWER.A: - British Business Law British was the first nation to development market economy business rules and regulations in the world.All the countries started to follow British business transaction. There is direct of British impact of businessrules in the world. It means our business rules are influenced by British rules. There is an important role ofBritish business rule to develop our business law. So it is taken as an important source of Nepalese businesslaw. What is the source of Nepalese Business Law?B: - custom and usage When there were no business rules in the world the earlier business cultural and tradition to manageand regulate business transaction. A large part of our business rules our business rules are influenced by thatculture and tradition. Before making business rules our law makers follow that business culture andtradition. It means it helps us to make good business rules. Therefore it is also a source of business law.C: - Law Makers (Legislative) (Statutes) Law makers are representatives elected or selected by using our voting rights. The body of the lawmakers is called legislative. The major faction of this body is making rules and regulation for the people somany business rules are the product of this body. It means the origin of so many business rules is legislativeso we should considered it as a major source of business law. E.g. banking act, insurance act, tax act,transportation act, company act, agency act etc. [90% of business law are formed by this business law.]D: - Opinion of Experts The experts can help us to make good business rules. Our law makers take opinion and guidelines fromthe exports before making business rules. If we have good business rules our businessman can managed,regulate and lead business organization successfully. The experts are the manufactures helping WTO creategood business environment in the business community so experts are considered as a source of business law.Q2. What is meant by contract? Explain about “quasi contracts”ANSWER.A contract is an agreement, enforceable by law, made between at least two parties by which rightsareacquired by one and obligations are created on the part of another. If the party, which had agreed toMANBIR SINGH PARMAR ROLL 581127511[Type text] Page 8
  9. 9. MANBIR SINGH PARMAR ROLL NO 581127511 MBA IN MARKETINGdosomething, fails to do that, then the other party has a remedy. Example: D An airline sells a ticket on1January to X for the journey from Mumbai to Bangalore on 10January. The Airlines is under anobligationto take X from Mumbai to Bangalore on 10 January. In case the Airlines fails to fulfill its promise,X has aremedy against it. Thus, X has a right against the Airlines to be taken from Mumbai to Bangalore on10January. A corresponding duty is imposed on the Airlines. As there is a breach of promise by thepromisor(the Airlines), the other party to the contract (i.e., X) has a legal remedy. Meaning of quasicontracts:„Quasi Contracts‟ are so -called because the obligations associated with such transactions could neither be referred as tortuousnorcontractual, but are still recognizedAs enforceable like contracts, in courts. According to Dr Jenks, quasi contract is ―a Situation in which law imposes upon one person, on grounds of natural justice, an obligation similar tothatwhich arises from a true contract, although no contract, express or implied, hasin fact been entered into by them‖. Cases which are treated as quasi contractsFollowing are the cases which are to be deemed quasi contracts:1.Claim for necessaries supplied to aperson incapable of contracting or on his account. If a person, incapableof entering into a contract oranyone whom he is legally bound to support is supplied by another personwith necessaries suited to hiscondition in life, the person who furnished such supplies is entitled to bereimbursed from the propertyof such incapable person(Sec.68).2.Reimbursement to a person paying moneydue by another inpayment of which he isinterested.A person who is interested in the payment of moneywhich another isbound by law to pay, and who, therefore, pays it, is entitled to be reimbursed by the other.(Sec.6Q3. What are the rights of consumer under consumer protection act?ANSWER.For the first time in the history of consumer legislation in India, the Consumer ProtectionAct, 1986 extendeda statutory recognition to the rights of consumers. Sec.6 of the Actrecognizes the following six rights ofconsumers:1.Right to safety,i.e., the right to be protected against the marketing of goods and services whicharehazardous to life and property.2.Right to be informed,i.e., the right to be informed about the quality,quantity, potency, purity, standard and priceof goods or services, as the case may be, so as to protectthe consumer against unfair tradepractices.3.Right to choose:It means right to be assured, wherever possible,access to a variety of goods and servicesat competitive prices. In case of monopolies, say, railways,telephones, etc., it means rightto be assured of satisfactory quality and service at a fair price.4.Right to beheard,i.e., the consumers‟ interests wi ll receive due consideration at appropriate forums. It also includes right to be represented invarious forums formed to consider the consumers‟ welfare. 5.Right to seek redressal:It means the right to seek redressal against unfair practices or restrictive tradepractices orunscrupulous exploitation of consumers. It also includes right to fair settlement of thegenuinegrievances of the consumers.6.Right to consumer education:It means the right to acquire the knowledge andskill to be an informed consumerQUESTION4. Explain the purpose and meaning of contract of guaranteeAns. Purpose ofguarantee.ANSWER.The contracts of guarantee are among the most common business contracts and are usedfor a number of purposes. These are: i)the guarantee is generally made use of to secureloans. Thus, a contract of guarantee is for the security of the creditor.ii) Thecontracts of guarantee are sometimes called performance bonds. For example, in the case of aconstruction project, the buildermay have to find a surety to stand behind his promise toperform the construction contract. Also employers often demand a typeof performancebond known as a fidelity bond from employees who handle cash, etc., for the good conductof the latter. If anemployee misappropriates then the surety will have to reimburse theemployer.iii) Bail bonds, used in criminal law, are a form ofcontract of guarantee. A bailbond is a device which ensures, that a criminal defendant will appear for trial. In this way aprisonerMANBIR SINGH PARMAR ROLL 581127511[Type text] Page 9
  10. 10. MANBIR SINGH PARMAR ROLL NO 581127511 MBA IN MARKETINGis released on bail pending his trial. If the prisoner does not appear in the court asdesired then the bond is forfeited. Meaning ofcontract of guarantee:A contract of guarantee is defined as ―a contract to perform the promise, or discharge theliability, of a third person in case of hisdefault‖. The person who gives the guarantee iscalled ―surety‟; the person for whom the guarantee is given is called the„principal debtor‟ ,and the person to whom the guarantee is given is called the „creditor‟. A contract of guarantee may be either oral or in writingQUESTION5. What is partnership? Explain the nature of partnership under „law ofpartnership‟ .ANSWER.Answer: Meaning and Nature of PartnershipA partnership is defined as ―the relationship between persons who have agreed to share profits of a business carried on by all, or by any of themacting for all‖. On analysis of the definition, certain essential elements of partnershipemerge.These elements must be present so as to form a partnership and are discussedbelow.1.Partnership is an association of two or more than two persons.There must be at least two personswho should join together to constitute a partnership,because one person cannot become a partner withhimself. These persons must be naturalpersons having legal capacity to contract. Thus, a company (which isan artificial person)cannot be a partner. Similarly, a partnership firm cannot be a partner ofanotherpartnership firm. As regards maximum number of partners in a partnership firm, Sec.11 of theCompanies Act, 1956, puts the limit at 10 in case of banking business and 20 in case of any otherbusiness.2.Partnership must be the result of an agreement between two or more persons.An agreementpresupposes a minimum number of two persons. As mentioned above, apartnership to arise, at least twopersons must make an agreement. Partnership is theresult of an agreement between two or more persons(who are known as partners after thepartnership comes into existence).3.The agreement must be to carry onsome business.Q 6. Write a note on the following on Copy Right Act.Ans: Meaning of copyright (ANSWER.The term „copyright‟ means the exclusive right,by virtue of, and subject to the provision of theAct:(a)in the case of literary, dramatic or musical work, notbeing a computer program me– (i) to reproduce the work in any material form including the storing of it in any medium byelectronicmeans; (ii) to issue copies of the work to the public not being copies already incirculation; (iii)to perform thework in public, or communicate it to the public; (iv) to makeany cinematograph film or sound recording inrespect of the work;(v) to make anytranslation of the work; (vi) to make any adaptation of the work; (vii) todo, in relation to atranslation or an adaptation of the work, any of the acts specified in relation to the workin(i) to (vi);(b) in the case of computer programme– (i) to do any of the acts specified in clause (a) above;(ii) to sell or give on hire, or offer forsale or hire anycopy of the computer programme, regardless of whether such copy hasbeen sold or given on hire on earlieroccasions;(c) in the case of an artistic work–MANBIR SINGH PARMAR ROLL 581127511[Type text] Page 10
  11. 11. MANBIR SINGH PARMAR ROLL NO 581127511 MBA IN MARKETING Master of Business Administration - MBA Semester 3 MK0013– Marketing Research - 4 Credits Assignment Set- 1 (60 Marks)Q.1 Distinguish between product research and new product research. Explain withexamples.ANS.Q.1. Distinguish between product research and new product research. Explain with examples.Answer. Product Research & New Product ResearchEffective product market research -- for new products and existing products -- is well integrated with R&Dand technical product design functions. For consumer or business B2B product market research, we take aglobal approach, incorporating appropriate market research at each design stage: The goal is to align astutetechnical product R&D, product innovation and design with market demand. We include in our services thefollowing new product development and research services:New Product Development StagesFor new product development market research, the question becomes one of matching the stage of newproduct development with the right creative or product market research method. We use the MarketingIntelligence Platform to guide the use of the three forms of Intelligence --Ideas, Data, & Drivers -- to theproduct development process. We provide consulting and specific new product research market researchcapabillities at each new product development stage.Product development market research methods and tools used may vary according to the product type, theextent of incremental change from other products, the investment and risk factors, and the costs of seedingthe new product in the marketplace.Product development is a sequential decision process. Its a series of decisions, not one. It is key, therefore,to concentrate attention on the precise new product decision at hand, and think through the market researchand creative tools needed for that stage.Q.2 How to write a marketing report and what quality is to be ensured?Answer: Marketing ReportA marketing report, also commonly referred to as a marketing plan, lays out the marketing strategy for acompany‘s product, brand or business unit. The report describes how different elements of the marketingmix—product, price, promotion and placement—will work together to achieve your company‘s goals andobjectives. Most marketing departments rely heavily on these plans and use them as road maps toMANBIR SINGH PARMAR ROLL 581127511[Type text] Page 11
  12. 12. MANBIR SINGH PARMAR ROLL NO 581127511 MBA IN MARKETINGsuccessfully navigate through and execute a variety of programs and sales campaigns.InstructionsStep 1:Developing a Marketing ReportBegin with an executive summary. The executive summary functions as a high-level overview and allowstop managers to easily recognize the goals and suggestions proposed in the report. A table of contentsusually follows the executive summary.Step 2:Describe the current market environment, product, competition and distribution channels for the product orservice. This analysis details the company‘s brand or products, sales and pricing, as well as distributiontrends, partnerships and major competitors. Conducting a Strengths Weaknesses Opportunities Threats(SWOT) analysis also helps identify any market forces or events that can potentially threaten sales or boostprofitability.Step 3:Clearly state the marketing goals and issues surrounding your product or brand. For example, if one of yourgoals is to acquire 15 new customers, then the marketing report should explore what issues might impactthose objectives.Step 4:Outline your company‘s marketing strategy. The marketing strategy is the methodology you will usein order to achieve your marketing goals and respond to market threats and opportunities. Explain what toolsyou will use to develop, promote, price and position the product for your customers. This section alsoelucidates how each part of the marketing mix will respond to the market threats, opportunities and issuesmentioned earlier in the report.Q.3 Which are the various types of scales in marketing research and its applications?Answer: Scales in marketing research The term scaling is applied to the attempts to measure the attitude objectively. Attitude is a resultant ofnumber of external and internal factors. Depending upon the attitude to be measured, appropriate scales aredesigned. Scaling is a technique used for measuring qualitative responses of respondents such as thoserelated to their feelings, perception, likes, dislikes, interests and preferences.Nominal ScaleThis is a very simple scale. It consists of assignment of facts/choices to various alternative categories whichare usually exhaustive as well mutually exclusive. These scales are just numerical and are the leastrestrictive of all the scales. Instances of Nominal Scale are - credit card numbers, bank account numbers,employee id numbers etc. It is simple and widely used when relationship between two variables is to bestudied. In a Nominal Scale numbers are no more than labels and are used specifically to identify differentcategories of responses. Following example illustrates -MANBIR SINGH PARMAR ROLL 581127511[Type text] Page 12
  13. 13. MANBIR SINGH PARMAR ROLL NO 581127511 MBA IN MARKETINGWhat is your gender?[ ] Male[ ] FemaleAnother example is - a survey of retail stores done on two dimensions - way of maintaining stocks and dailyturnover.How do you stock items at present?[ ] By product category[ ] At a centralized store[ ] Department wise[ ] Single warehouseDaily turnover of consumer is?[ ] Between 100 – 200[ ] Between 200 – 300[ ] Above 300A two way classification can be made as follows: Daily/Stock Turnover Centralized Single Product Category Department wise Method Store Warehouse 100 – 200 200 – 300 Above 300Mode is frequently used for response category.Example :- If there are 4 different types of fertilizers and if they are ordered on the basis of quality as GradeA, Grade B, Grade C, Grade D is again an Ordinal Scale.Example - If there are 5 different brands of Talcum Powder and if a respondent ranks them based on say,―Freshness‖ into Rank 1 having maximum Freshness Rank 2 the second maximum Freshness, and so on, anOrdinal Scale results.Median and mode are meaningful for ordinal scale.Interval ScaleMANBIR SINGH PARMAR ROLL 581127511[Type text] Page 13
  14. 14. MANBIR SINGH PARMAR ROLL NO 581127511 MBA IN MARKETINGHerein the distance between the various categories unlike in Nominal, or numbers unlike in Ordinal, is equalin case of Interval Scales. The Interval Scales are also termed as Rating Scales. An Interval Scale has anarbitrary Zero point with further numbers placed at equal intervals. A very good example of Interval Scale isa Thermometer.Q 1) what is your annual income before taxes? ______ $Q 2) How far is the Theater from your home? ______ MilesAnswers to these questions have a natural, unambiguous starting point, namely zero. Since starting point isnot chosen arbitrarily, computing and interpreting ratio makes sense. For example we can say that arespondent with an annual income of $ 40,000 earns twice as much as one with an annual income of $20,000.Q.4 Explain the types of hypothesis and the steps involved in hypothesis testing.Answer: HypothesisA statistical hypothesis is an assumption about a population parameter. This assumption may or may not betrue. Hypothesis testing refers to the formal procedures used by statisticians to accept or reject statisticalhypotheses.Statistical HypothesesThe best way to determine whether a statistical hypothesis is true would be to examine the entire population.Since that is often impractical, researchers typically examine a random sample from the population. Ifsample data are not consistent with the statistical hypothesis, the hypothesis is rejected.There are two types of statistical hypotheses.  Null hypothesis. The null hypothesis, denoted by H0, is usually the hypothesis that sample observations result purely from chance.  Alternative hypothesis. The alternative hypothesis, denoted by H1 or Ha, is the hypothesis that sample observations are influenced by some non-random cause.For example, suppose we wanted to determine whether a coin was fair and balanced. A null hypothesismight be that half the flips would result in Heads and half, in Tails. The alternative hypothesis might be thatthe number of Heads and Tails would be very different. Symbolically, these hypotheses would be expressedas H0: P = 0.5 Ha: P ≠ 0.5MANBIR SINGH PARMAR ROLL 581127511[Type text] Page 14
  15. 15. MANBIR SINGH PARMAR ROLL NO 581127511 MBA IN MARKETINGSuppose we flipped the coin 50 times, resulting in 40 Heads and 10 Tails. Given this result, we would beinclined to reject the null hypothesis. We would conclude, based on the evidence, that the coin was probablynot fair and balanced.Hypothesis TestsStatisticians follow a formal process to determine whether to reject a null hypothesis, based on sample data.This process, called hypothesis testing, consists of four steps. State the hypotheses. This involves stating the null and alternative hypotheses. The hypotheses are stated in such a way that they are mutually exclusive. That is, if one is true, the other must be false. Formulate an analysis plan. The analysis plan describes how to use sample data to evaluate the null hypothesis. The evaluation often focuses around a single test statistic. Analyze sample data. Find the value of the test statistic (mean score, proportion, t-score, z-score, etc.) described in the analysis plan. Interpret results. Apply the decision rule described in the analysis plan. If the value of the test statistic is unlikely, based on the null hypothesis, reject the null hypothesis.Decision ErrorsTwo types of errors can result from a hypothesis test.  Type I error. A Type I error occurs when the researcher rejects a null hypothesis when it is true. The probability of committing a Type I error is called the significance level. This probability is also called alpha, and is often denoted by α.  Type II error. A Type II error occurs when the researcher fails to reject a null hypothesis that is false. The probability of committing a Type II error is called Beta, and is often denoted by β. The probability of not committing a Type II error is called the Power of the test.Decision RulesThe analysis plan includes decision rules for rejecting the null hypothesis. In practice, statisticians describethese decision rules in two ways - with reference to a P-value or with reference to a region of acceptance.  P-value. The strength of evidence in support of a null hypothesis is measured by the P-value. Suppose the test statistic is equal to S. The P-value is the probability of observing a test statistic as extreme as S, assuming the null hypotheis is true. If the P-value is less than the significance level, we reject the null hypothesis.  Region of acceptance. The region of acceptance is a range of values. If the test statistic falls within the region of acceptance, the null hypothesis is not rejected. The region of acceptance is defined so that the chance of making a Type I error is equal to the significance level.MANBIR SINGH PARMAR ROLL 581127511[Type text] Page 15
  16. 16. MANBIR SINGH PARMAR ROLL NO 581127511 MBA IN MARKETINGQ.5 What are the limitations of sampling? What are the indicators for an ideal sample?Answer: Limitations of SamplingThe limitations of sampling are: Less Accuracy:In comparison to census technique the conclusions derived from sample are more liable to error. Therefore,sampling technique is less accurate than the census technique.Changeability of Units:If the units in the field of survey are liable to change or if these are not homogeneous, the samplingtechnique will be very hazardous. It is not scientific to extend the conclusions derived from one set ofsample to other sets which are dissimilar or are changeable.Misleading Conclusions:If due care is not taken in the selection of samples or if they are arbitrarily selected, the conclusions derivedfrom them will become misleading if extended to all units. For example, in assessing the monthly expenditure of university students we select for sample study onlyrich students, our results will be highly erroneous if extended to all students. Need for Specialized Knowledge:The sample technique can be successful only if a competent and able scientist makes the selection. If this isdone by an average scientist, the selection is liable to be wrong.When Sampling is not Possible:Under certain circumstances it is very difficult to use the sampling technique. If the time is very short and itis not possible to make selection of the sample, the technique cannot be used. Besides, if we need 100%accuracy the sampling technique cannot be used. It can also not be used if the material is of a heterogeneousnature.Characteristics of Ideal SampleA good sample has following qualities: Representativeness:An ideal sample must be such that it represents adequately the whole populations. We would selectthose units which have the same set of qualities and features as are found in the whole data. It should notlack in any characteristic of the population.Independence:MANBIR SINGH PARMAR ROLL 581127511[Type text] Page 16
  17. 17. MANBIR SINGH PARMAR ROLL NO 581127511 MBA IN MARKETINGThe second feature of a sample is independence, that is interchangeability of units. Every unit should beavailable to be included in the sample.Q.6 Considering Indian consumers and Indian market trends, mention the ways through which amarketing researcher can carry out research? If you were to research a market segment, how wouldyou go about it?Answer: Be familiar with the various stages of the marketing research process. Highlight the importance of the problem/opportunity identification stage of the research process. Understand the issues related to hypotheses development. Explain the concept of value of information, and its role in deciding when marketing research is beneficial. Introduce the international marketing research process.How is the market research project conceived, planned, and executed?The answer, in part, is through a research process, consisting of stages or steps that guide the project from itsconception through the final analysis, recommendation, and ultimate action. The research process provides asystematic, planned approach to the research project and ensures that all aspects of the research project areconsistent with each other. It is especially important that the research design and implementation beconsistent with the research purpose and objectives. Otherwise, the results will not help the client.The research process is described in this chapter and Chapter 4. This chapter provides an overview of theresearch process, a discussion of the research purpose and research objectives, and a consideration of thevalue of research information. Negative findings are as valuable as positive ones. In fact, they are often morerevealing, as they provide valuable insight into customers‘ psyches.Today, the research process has evolved to encompass decision making. This combined process transformsmundane marketing research to marketing intelligence. Chapter 4 gives an overview of the research designand its implementation. Together, these two chapters are the foundation for the rest of the book.MANBIR SINGH PARMAR ROLL 581127511[Type text] Page 17
  18. 18. MANBIR SINGH PARMAR ROLL NO 581127511 MBA IN MARKETING Master of Business Administration Semester III MK0012 – Retail Marketing Assignment Set- 11. How has the growth of retail sector helped the Indian economy?Answer: Retail Sector and its GrowthBusiness Monitor Internationals India Retail Report provides industry professionals and strategists,corporate analysts, retail associations, government departments and regulatory bodies with independentforecasts and competitive intelligence on Indias retail industry.The Q112 BMI India Retail Report forecasts total retail sales will grow from INR20.26trn (US$422.09bn) in2011 to INR31.78trn (US$825.46bn) by 2015. Strong underlying economic growth, population expansion,the increasing wealth of individuals and the rapid construction of organized retail infrastructure are keyfactors behind the forecast growth.As well as an expanding middle and upper class consumer base, there will also be opportunities in Indiassecond- and third-tier cities. The greater availability of personal credit and a growing vehicle populationproviding improved mobility also contribute to a trend of 12.1% average annual retail sales growththroughout the period.The growth in the overall retail market will be driven largely by the explosion in the organized retail sector.Domestic retailers such as Reliance Retail and Pantaloons Retail continue to invest heavily in increasingtheir store networks and improving in-store offerings, and the impact they have on growth will be boostedby the arrival of expansion-oriented multinationals.Reliance Retail was looking to invest up to INR1.5bn (US$33mn) in 150 new stores by March 2011, addingto its existing 1,050-store network. CEO Bijou Kurien said: ‗Now that the recession is over, several new andstalled projects will get started. BMI would focus on both value retail as well as specialty, non-food retailstores. Reliance recently opened its 103rd Vision Express optical outlet in India in partnership withGrandVision.Mass grocery retail (MGR) sales in India are expected to undergo enormous growth over the forecast period.MANBIR SINGH PARMAR ROLL 581127511[Type text] Page 18
  19. 19. MANBIR SINGH PARMAR ROLL NO 581127511 MBA IN MARKETINGBMI predicts that sales through MGR outlets will increase by 219% to reach US$28.14bn by 2015. This is aconsequence of Indias dramatic, rapid shift from small independent retailers to large, modern outlets,although it must also be noted that this growth is forecast to come from a very low starting point.Q.2 Discuss different types of store based retailer. Give examples of each.Answer:Types of store based retailerRetail stores can be small, boutique operations that sell niche products or large, high-turnover emporiumsthat sell everything from tires to garden hoses. These stores are good places to look for seasonal, summerand full-time employment. There are a number of levels of employment, from temporary stock clerk tocareer management, to consider.Specialty Stores Specialty stores sell just one category of merchandise, although that category may be further divided into particular departments. For example, a pet store may sell exotic fish and tanks in one area, and birds, cages and birdseed in another. A bookstore typically has sections for types of literature such as mysteries, classics, cookbooks and children, among others. To get a job at a specialty store, extensive knowledge of the product sold will give you an edge.Department Stores Department stores vary from discount (Kmart) to high-end (Bloomingdales) and everything in between. They are organized by divisions that include several clothing categories, cosmetics and accessories, jewelry, household goods, furniture, kitchenware. Each department has a manager, and there are store designers and decorators, plant maintenance and cleaning divisions, store security and more.Warehouse Stores Known as "big box" stores, these giants carry products in bulk. Products include clothing, automotive parts, sports equipment, nursery plants, toys, bedding, electronics--and even groceries. Some stores require annual memberships that offer discounts. Others are just huge discount operations. Warehouse stores may train employees for multiple departments and shift you from one area to another as needed.Grocery Stores Mom n pop groceries, national chains, organic specialists, corner delis--grocery stores come in all flavors. Departments may include a bakery, deli, produce, meat and floral. Grocery stores jobs vary, from bagging and stocking to working behind the deli counter, in customer service or at the cash register. Some grocers offer delivery services, and others have offices that prepare display signs, weekly newsletters with specials and recipes and handle other administrative duties.Q.3 Explain the GAP Model of service quality.MANBIR SINGH PARMAR ROLL 581127511[Type text] Page 19
  20. 20. MANBIR SINGH PARMAR ROLL NO 581127511 MBA IN MARKETINGAnswer: History of the Gaps Model The gaps model of service quality was first developed by a group of authors, Parasuraman, Zeithaml, Berry, at Texas A&M and North Carolina Universities, in 1985 (Parasuraman, Zeithaml & Berry). Based on exploratory studies of service such as executive interviews and focus groups in four different service businesses the authors proposed a conceptual model of service quality indicating that consumers‘ perception toward a service quality depends on the four gaps existing in organization – consumer environments. They further developed in-depth measurement scales for service quality in a later year (Parasuraman, Zeithaml, Berry, 1988). Theory of the Gaps ModelPerceived service quality can be defined as, according to the model, the difference between consumers‘ expectation and perceptions which eventually depends on the size and the direction of the four gaps concerning the delivery of service quality on the company‘s side (Fig. 1; Parasuraman, Zeithaml, Berry, 1985).Q.4 Define Retail store image & describe factors influencing it.Answer: Retail store imageRetail store image has been shown to play an important role in store patronage, and it is widely accepted thatpsychological factors have a significant role in store image formation. Past research has often involved themeasurement of tangible attributes, or links between store images and consumers‘ self-images. This studywas undertaken to move to the next stage by exploring the link between perceived store image and thepersonal values which underlie behavioral choices. Fashion retailing was selected as an appropriate research domain because of the well-establishedassociations between clothing choice, personality, self-concept, and personal values. Means-end theory andladdering methodology were employed in interviews with 30 female respondents. The hedonic values of―enjoyment and happiness‖ and ―quality of life‖ were found to be the terminal values most sought byconsumers in association with store image. These were linked through the consequence ―nice feeling‖ to thetangible attributes of ―price‖, ―quality‖ and ―reputation‖. The study illustrates an application of means-endmethodology in a retail environment, and the results provide a platform for fashion store image andpositioning strategies.MANBIR SINGH PARMAR ROLL 581127511[Type text] Page 20
  21. 21. MANBIR SINGH PARMAR ROLL NO 581127511 MBA IN MARKETING Factors influencingIn recent times retail Industries in India has emerged as very important sector in India contributingsignificantly to GDP and fuelling the economic growth. Over the years, many researches have been carriedout to understand the consumer‘s perceptions on various types of retailers and their image. The review ofliterature indicates a gap in such studies in Indian context. This paper tries to construct a measure for storeimage in Indian context. A total of 32 variables were considered for the study and their relative importancefrom customers‘ point of view are identified. The study is carried out in eight major cities representing fourmajor states of the eastern region of India. RIDIT analysis is used to identify the prioritization pattern thatcustomers assign to different variables. The result shows that cleanliness and tidiness of the store is veryimportant for attracting the customers and gives a positive image about the store. Next important factor isdécor of the store and layout of the store making movements easier for the customers.2. Retail Image refers to how a retailer is perceived by image which helps the retail outlet in connecting withits customers and others; and positioning refers to a firm‘s customers. The retail image should be consistentwith the devising its strategy in a way that projects an image with expectations of the target market tofacilitate association regards to its retail category and its competitors and the between retail outlet and targetcustomers.3. To succeed, a firm must communicate a distinctive, clear and Perceptual Mapping in Relation toCompetition: A retailer consistent image. Once its image is established in cannot exist by itself in theconsumer‘s perception consumer‘s minds, a retailer is placed in a niche relative to independent of competingretail outlets. Depending upon competitors, It is rather difficult to break out of that niche its image, eachretail outlet occupies a point in the if it is firmly implanted in people‘s mind. It is also consumer‘s mind inrelation to other retail outlets. As a challenging to convey a consistent image globally, given result, aperceptual map is created in the mind of the the different background and expectations of consumersconsumer in which different retail outlets are stationed at around the world. Separate coordinates on thebasis of their respective retail. Thus, a retail image enables a retailer to retail image creation takes place as aresult of the differentiate it from other competing retail outlets by contribution by all components of retailmix, namely reflecting the essence of the retailer in terms of the product assortment and procurement,service offered, functional and non-functional benefits it offers to its price charged, promotional campaigns,retail outlet target customers. atmosphere, location advantages and other factors such So, the way a storelooks goes beyond its fixture, as dedication towards ethical practices and zeal to lighting, carpeting anddecor treatment. It is the result of undertake corporate social responsibility.4. The retail image should not be confused with retail store planners and designers are under great pressureto identity. Identity is the way a retail outlet aims to identify create winning environments that not only sellor position it or the products it sells. On the contrary, merchandise but also attract and entertain people. Suchimage is the way the public perceives a retail outlet and designs take the retail experience beyond buyingand the products it offers.A carefully crafted positioning strategy leads to attitude to keep busy shoppers coming back for more usefulways: consumer friendly value proposition and than 12 million street corner mom and pop stores haveperceptual mapping in relation to competitors.MANBIR SINGH PARMAR ROLL 581127511[Type text] Page 21
  22. 22. MANBIR SINGH PARMAR ROLL NO 581127511 MBA IN MARKETINGThese retail outlets are engulfed with diametrically opposite concepts in practice-mass problems likeoperational inefficiency, shortage of capital, merchandise and niche retailer. A mass merchandise untrainedmanpower, poor selection of merchandise, contribute 8 percent of the GDP and 12 percent of the AsianJ. Business Manage.Q.5 What is positioning? Discuss various positioning approaches.Answer: Positioning Positioning is the process by which marketers try to create an image or identity in the minds of their target market for its product, brand, or organization.Re-positioning involves changing the identity of a product, relative to the identity of competing products.De-positioning involves attempting to change the identity of competing products, relative to the identity ofyour own product.The original work on positioning was consumer marketing oriented, and was not as much focused on thequestion relative to competitive products as much as it was focused on cutting through the ambient "noise"and establishing a moment of real contact with the intended recipient. In the classic exampleof Avis claiming "No.2, We Try Harder," the point was to say something so shocking (it was by thestandards of the day) that it cleared space in your brain and made you forget all about who was #1 and not tomake some philosophical point about being "hungry" for business.The growth of high-tech marketing may have had much to do with the shift in definition towardscompetitive positioning. An important component of hi-tech marketing in the age of the world wide web ispositioning in major search engines such as Google, Yahoo and Bing, which can be accomplishedthrough Search Engine Optimization, also known as SEO. This is an especially important component whenattempting to improve competitive positioning among a younger demographic, which tends to be Weboriented in their shopping and purchasing habits as a result of being highly connected and involved in socialmedia in general.Q.6 Explain the various elements of communication mix included in retail chain.Answer: Communication MixCommunication is an integral part of the retailer‘s marketing strategy. Primarily, communication is used toinform the customers about the retailer, the merchandise and the services. It also serves as a tool for buildingthe store image. Retail communication has moved on from the time when the retailer alone communicatedwith the consumers. Today, consumers can communicate or reach the organizations. Examples of thisinclude toll free numbers, which retailers provide for customer complaints and queries. Another example isthe section called Contact Us on the websites of many companies.It is believed that every brand contact delivers an impression that can strengthen or weaken the customerview of the company. The retailer can use various platforms / channels for communication.MANBIR SINGH PARMAR ROLL 581127511[Type text] Page 22
  23. 23. MANBIR SINGH PARMAR ROLL NO 581127511 MBA IN MARKETING Master of Business Administration Semester III MK0010 – Sales, Distribution and Supply Chain Management Assignment Set- 1Q.1 Explain any two types of sales organization structures.Answer: Sales organization structureThe sales organization structure represents the selling unit in the legal sense. It is responsible for examplefor product liability and other rights of recourse; customer deliveries; business partner contacts; and directmailing campaigns. It also helps you to offset business operations internally.Different components use the sales organization object: G/L accounting (for account determination) Controlling (where the sales organization is used as a characteristic in profitability and market segment analysis) Different Types of Organizational StructureOrganizations are set up in specific ways to accomplish different goals, and the structure of an organizationcan help or hinder its progress toward accomplishing these goals. Organizations large and small can achievehigher sales and other profit by properly matching their needs with the structure they use to operate. Thereare three main types of organizational structure: functional, divisional and matrix structure.Functional StructureMANBIR SINGH PARMAR ROLL 581127511[Type text] Page 23
  24. 24. MANBIR SINGH PARMAR ROLL NO 581127511 MBA IN MARKETINGFunctional structure is set up so that each portion of the organization is grouped according to its purpose. Inthis type of organization, for example, there may be a marketing department, a sales department and aproduction department. The functional structure works very well for small businesses in which eachdepartment can rely on the talent and knowledge of its workers and support itself. However, one of thedrawbacks to a functional structure is that the coordination and communication between departments can berestricted by the organizational boundaries of having the various departments working separately.Divisional StructureDivisional structure typically is used in larger companies that operate in a wide geographic area or that haveseparate smaller organizations within the umbrella group to cover different types of products or marketareas. For example, the now-defunct Tecumseh Products Company was organized divisionally--with a smallengine division, a compressor division, a parts division and divisions for each geographic area to handlespecific needs. The benefit of this structure is that needs can be met more rapidly and more specifically;however, communication is inhibited because employees in different divisions are not working together.Divisional structure is costly because of its size and scope. Small businesses can use a divisional structure ona smaller scale, having different offices in different parts of the city, for example, or assigning different salesteams to handle different geographic areas.MatrixThe third main type of organizational structure, called the matrix structure, is a hybrid of divisional andfunctional structure. Typically used in large multinational companies, the matrix structure allows for thebenefits of functional and divisional structures to exist in one organization. This can create power strugglesbecause most areas of the company will have a dual management--a functional manager and a product ordivisional manager working at the same level and covering some of the same managerial territory.Q.2 Explain different sales strategies.Answer: Sales strategy  A sales strategy sets out in detail how you will get your product or service in front of people who need it. Looking at it strategically will give you a comprehensive, methodical approach to ensuring you marketing your business correctly and you are approaching the right clients.  A sales strategy can be based on your business and marketing plans. It looks at how you will deliver objectives set out in your marketing plan, as well as how you have chosen to segment your target market and how you will fund you marketing activities.MANBIR SINGH PARMAR ROLL 581127511[Type text] Page 24
  25. 25. MANBIR SINGH PARMAR ROLL NO 581127511 MBA IN MARKETING  A sales strategy is not the same as a marketing strategy. Whereas marketing is about getting your name out there and tempting new customers or rekindling interest in your business, a sales strategy is more about how you close the deal.  In order to build a comprehensive strategy for your entire business, you will need to sit down and come up with a different sales strategy for each of your product lines. While they may all end up looking very similar, but its important to be aware of subtle differences between your products and the customers who pay for them. Different sales strategy:1. Define your target market. Knowing this is critical to your sales success. You aren‘t going to do business with everyone. And even ifyou were, you have to start somewhere. You have to have a place where you can focus in order to build upthat momentum we talked about..2. Determine your outreach.Will you cold call or network or both? I have a system that works really well for my clients. It goes like this:Once you‘ve defined your target and created the list, reach out to your networks to see if you are connectedin any way to the person or organization you seek. This includes direct outreach – emailing or calling them –and exploring your LinkedIn contacts. Remember, you are looking for an introduction. That‘s it! You wantthe opportunity to meet with the prospect. When your friend or associate introduces you to the prospect,follow up and set up the meeting.Next, take the ones on the list you don‘t have a connection to and cold call them. This could mean sendingthem an introductory letter or postcard, or picking up the phone and calling them. If you send anintroductory letter or postcard, you must tell them that you will call to follow up – and then follow up! Youcan‘t leave the action in their hands. The process is yours to conduct, not theirs. 4. Know your questions. 5. Before you go on a sales appointment, create a list of questions to ask the prospect. This is the time for you to really get to know them, their needs, their business practices. It is not the time for you to talk endlessly about your product or service. If they look like a qualified prospect, provide them with a quote. If they don‘t, walk away. 5. Deliver and build. 6. Deliver on what you said you were going to do for the prospect. Then make sure you build the relationship. Don‘t expect them to stay with you or use you for other needs if you aren‘t taking the time to build the relationship with them. The sales process doesn‘t end with the sale.Q.3 What do you mean by compensation? Explain various modes of compensating sales team.Answers:MANBIR SINGH PARMAR ROLL 581127511[Type text] Page 25
  26. 26. MANBIR SINGH PARMAR ROLL NO 581127511 MBA IN MARKETING CompensationCompensation is the remuneration received by an employee in return for his/her contribution to theorganization. It is an organized practice that involves balancing the work-employee relation by providingmonetary and non-monetary benefits to employees.Compensation is an integral part of human resource management which helps in motivating the employeesand improving organizational effectiveness.Components of Compensation SystemCompensation systems are designed keeping in minds the strategic goals and business objectives.Compensation system is designed on the basis of certain factors after analyzing the job work andresponsibilities.Components of a compensation system are as follows: • Job analysis • Salary structures • Pay structure Various Modes of Compensating the Sales Force are as under:SalaryA straight salary payroll is set amount of money based upon hour or days worked. Deductions for providentfund, income taxes and other fringe benefits are fixed and the work of accounting is reduced. The security ofsalary is a strong factor in lowering turnover in a sales force.Applicability of salary methodThis method is commonly used by: Highly seasonal industries High-tech industries Trade salespeople Route salespeople Missionary and educational salesmen Group sellingStraight commissionPaying a commission is a variable expense rather than a fixed one. A straight commission pay plan hasmany advantages. Straight commission is adopted by the performance-oriented firm that pay sales person fortheir achievement. In this each person is paid a percentage of their sales. It is desirable for a companysuffering from a severe cash shortage since the commission need not be paid until proceeds are receivedfrom a sale. Flexible commission rates can be a strong incentive and many organizations are successfulbecause the sales force enjoys a liberal commission schedule. For example, sales agents working for variousinsurance companies are paid commission on the basis of policies received.Target commissionMANBIR SINGH PARMAR ROLL 581127511[Type text] Page 26
  27. 27. MANBIR SINGH PARMAR ROLL NO 581127511 MBA IN MARKETINGA straight commission is paid on sales volume. On a fixed commission base, a fixed percentage of salesvolume is paid to the sales force. Other plans call for increase in rate as volume increases. A fixed ratecommission is easy to figure and administer. If the rate is 2 per cent, it stays at that percentage whether thesalesperson sells goods worth Rs. 40,000 or Rs. 4,00,000. A progressive commission rate accomplishes amajor objective of most companies: it provides a constant incentive to the sales force to do better.Q.4 What are the challenges faced by International sales managers?Answer: Challenges faced by International sales managersSales managers are facing a set of challenges that theyve never experienced before. They think their team isfocused on generating sales, but they are completely distracted.As a sales manager, for years, youve had Human Resources preaching to you about the importance of work-life balance for your sales team. They reminded you that studies showed that productivity increased whenemployees had balance between their work life and their personal one. They told you that the team neededtime to recharge their batteries so they could sell more for the company. Some still talk about work-life balance, but the truth of the matter is that this is a yesterday issue. Work-life implies that "work" is a stressful world and "life" is a place of solace. Those days are gone with the wayour economy has evolved. Your sales team is getting it from both sides now. They have unprecedented, highlevels of stress at work and at home. The former life of solace is now filled with concerns of mounting debt,drastic drops in home values, a real fear of job loss, and disgust over their investment portfolio. Since this is a relatively new issue, most sales managers have not been trained how to help their teamregain their focus to drive productivity (a.k.a. sales). As a sales manager, what can you do to regain thereigns of the team and lead them to sales success? Communicate, even…over communicate. Open and honest discussion about the present state of affairs helps to relieve the angst that the team is experiencing. As a manager, you may be in a leadership chain, but the team looks to their direct leader for guidance and support. Hold the team accountable. While empathetic and understanding, the sales leader needs to remind the team of the task at hand. Direction provided to the team should be clear and team members should be held accountable for performance. Coach them. Little things can help your team regain their sales edge. Suggest that they not start their day by watching the morning news. Have them read the news online so they have total control over which news to become informed. They control the information saturation point, not the television media. Lead by example. While challenging, put on your game face and show confidence. Keep the conversation on the task at hand, not external influences. Smile! If you walk around showing stress, your sales team will mirror your behavior. They will think something is wrong and sales paralysis enters. Be visible! When the number of closed door meetings increases, sales people speculate that something is wrong. While a productive meeting may be taking place inside, on the other side of the door, your entire sales team is talking about what you may be discussing in your meeting. In the absence of direct knowledge, your sales team will guess the meeting is about gloom and doom. LimitMANBIR SINGH PARMAR ROLL 581127511[Type text] Page 27
  28. 28. MANBIR SINGH PARMAR ROLL NO 581127511 MBA IN MARKETING your closed door meetings. Be visible with your sales team. Join them on sales calls. Meet with clients.Q.5 What do you mean by relationship marketing & also explain three types of consumer.Answer: Relationship marketingRelationship marketing or selling is a style of selling that relates to the fashion in which you try to close adeal.In this style of closing you try to relate to the client/customer and focus directly on their needs for a longterm selling relationship. You wouldnt be using undercutting discount or perks over your competition, butwould focus on your after sales servicing and "personal availability".This styles purpose is to keep a permanent long term client over a cut priced quick deal in which thecustomer may or may not return for your product or service ever again.There are different industries and products which either style me be advantageous. If you have a very serviceintensive product, relationship selling is the best way to go. If you cut into the price too much you will nothave the margins to service it and will sour the relationship. Explain three types of consumerIt seems as though we are constantly faced with the issue of trying to find new customers. Most of us areobsessed with making sure our advertising, displays, and pricing all "scream out" to attract new customers.This focus on pursuing new customers is certainly prudent and necessary, but, at the same time, it can windup hurting us. Therefore, our focus really should be on the 20 percent of our clients who currently are ourbest customers.In retail, this idea of focusing on the best current customers should be seen as an on-going opportunity. Tobetter understand the rationale behind this theory and to face the challenge of building customer loyalty, weneed to break down shoppers into five main types:Loyal Customers: They represent no more than 20 percent of our customer base, but make up more than 50percent of our sales.Discount Customers: They shop our stores frequently, but make their decisions based on the size of ourmarkdowns.Impulse Customers: They do not have buying a particular item at the top of their "To Do" list, but comeinto the store on a whim. They will purchase what seems good at the time.Need-Based Customers: They have a specific intention to buy a particular type of item.Wandering Customers: They have no specific need or desire in mind when they come into the store.Rather, they want a sense of experience and/or community.If we are serious about growing our business, we need to focus our effort on the loyal customers, andmerchandise our store to leverage the impulse shoppers. The other three types of customers do represent aMANBIR SINGH PARMAR ROLL 581127511[Type text] Page 28
  29. 29. MANBIR SINGH PARMAR ROLL NO 581127511 MBA IN MARKETINGsegment of our business, but they can also cause us to misdirect our resources if we put too much emphasison them.Let me further explain the five types of customers and elaborate on what we should be doing with them.Q.6 Assume yourself to be the sales manager of a car showroom. How will you ensure that theselection procedure is smooth and you select right candidates for the job?Answer:Sales Personnel are the people employed to sell the goods or services (mainly of an organization). Peoplewho are responsible for the sales of either a single product or the entire range of an organizations productscan be called sales personnel. Sales personnel normally report to a sales manager.The job of sales personnel involves a number of responsibilities. It is the income producing division of abusiness.The salesperson is responsible for: Providing profit contribution Creating a proper image for the company and its products/services Achieving the sales targets of the organization Satisfying the customers and participating in marketing activities He/she is responsible to the customer and society for continuing growth of the organization. He hasmultifarious activities, including setting goals and achieving them, building sales organizations andmanaging them.For example, in Eureka Forbes Pvt. Ltd. they called their sales force as sales champs (champions) as theyare responsible for the direct marketing of company‘s products and revenue generation.Qualities of good sales personnelSales people are the backbone of the organization because they have to face customer and interact withthem. Some people say, salesmen are born salesmen, while others believe that training can help in makinggood salesmen. Irrespective of these opinions, good salesman has certain qualities and abilities as a result heis able to perform better than others. In this section, we will discuss qualities of a good sales person.Philip Kotler has identified two basic qualities of a good sales person namely, empathy and persuasion.Some of the qualities of a good sales person are as follows:Ability to estimate customers needs and desires: He is alert and quickly determines what the customerwants and the best way to sell.Ambition: He likes to do a good job and is interested in getting ahead with company‘s goals and salesobjectives.MANBIR SINGH PARMAR ROLL 581127511[Type text] Page 29
  30. 30. MANBIR SINGH PARMAR ROLL NO 581127511 MBA IN MARKETINGAppearance: Appearance means a lot today and the successful salesman is neat and organized. He presentshimself well in person. Also, he keeps his desk books and manuals neat and ready for use.Business sense: He is quick to learn the strengths and weaknesses of the company and makes an effort toimprovise on the company‘s strengths.Courtesy: He reveals a sincere desire to help customers and treats them asguests even when he visits their places of business.Creativeness: Imagination, vision and the ability to create ideas make your man dynamic.Enthusiasm: A salesman must radiate enthusiasm during and after the sales call.Figure sense: He should have the mathematical ability to figure and fill up order form correctly and to makethe necessary reports.Flexibility: A good salesman is able to adapt himself to a variety of customers. Each contact may require aadapting the sales talk, speech habits and even appearance.Friendliness: A salesman should be able to make people like him and he must like to meet people.Health: Good health generates energy and energy is needed to sell. Poor health prevents many salesmenfrom fulfilling their potentials.Integrity: A salesman must be trusted to do his job well. He cannot help but he successful when hiscustomers trust him.Interest in his job: He likes selling and working for the company.Knowledge: In some business, sales person must also have a through knowledge of the highly specializedproducts or services his employer offers. In some cases, this knowledge can be gained only by years ofexperience.Loyalty: He must be able to impress upon his customers the idea that his company is the best in thebusiness.Mental abilities: He has the intelligence to understand your products and those of your competitors. Hemust know how to use words, to understand and direct people and to remember names and faces. He shouldalso be able to understand prospective customers and know how to act under varying conditions.MANBIR SINGH PARMAR ROLL 581127511[Type text] Page 30
  31. 31. MANBIR SINGH PARMAR ROLL NO 581127511 MBA IN MARKETING Master of Business Administration Semester III MK0011- Consumer Behavior Assignment Set- 11. Explain the VAL’s theory and describe each type of consumer?Answer: VAL’s theoryVALS ("Values, Attitudes and Lifestyles") is a proprietary research methodology usedfor psychographic market segmentation. Market segmentation is designed to guide companies in tailoringtheir products and services to appeal to the people most likely to purchase them.VALS was developed in 1978 by social scientist and consumer futurist Arnold Mitchell and his colleaguesat SRI International. It was immediately embraced by advertising agencies, and is currently offered as aproduct of SRIs consulting services division. VALS draws heavily on the work of Harvardsociologist David Riesman and psychologist Abraham Maslow.Mitchell used statistics to identify attitudinal and demographic questions that helped categorize adultAmerican consumers into one of nine lifestyle types: survivors (4%), sustainers (7%), belongs (35%),emulators (9%), achievers (22%), I-am-me (5%), experiential (7%), societally conscious (9%), andintegrated (2%). The questions were weighted using data developed from a sample of 1,635 Americans andtheir partners, who responded to an SRI International survey in 1980.The main dimensions of the VALS framework are primary motivation (the horizontal dimension) andresources (the vertical dimension). The vertical dimension segments people based on the degree to whichthey are innovative and have resources such as income, education, self-confidence, intelligence, leadershipskills, and energy.The horizontal dimension represents primary motivations and includes three distinct types: Consumers driven by knowledge and principles are motivated primarily by ideals. These consumers include groups called Thinkers and Believers. Consumers driven by demonstrating success to their peers are motivated primarily by achievement. These consumers include groups referred to as Achievers and Strivers. Consumers driven by a desire for social or physical activity, variety, and risk taking are motivated primarily by self-expression. These consumers include the groups known as Experiencers and Makers.Let me further explain the five types of customers and elaborate on what we should be doing withthem.MANBIR SINGH PARMAR ROLL 581127511[Type text] Page 31
  32. 32. MANBIR SINGH PARMAR ROLL NO 581127511 MBA IN MARKETINGLoyal CustomersNaturally, we need to be communicating with these customers on a regular basis by telephone, mail, email,etc. These people are the ones who can and should influence our buying and merchandising decisions.Nothing will make a Loyal Customer feel better than soliciting their input and showing them how much youvalue it. In my mind, you can never do enough for them. Many times, the more you do for them, the morethey will recommend you to others.Discount CustomersThis category helps ensure your inventory is turning over and, as a result, it is a key contributor to cash flow. Thissame group, however, can often wind up costing you money because they are more inclined to return product.Impulse CustomersClearly, this is the segment of our clientele that we all like to serve. There is nothing more exciting thanassisting an Impulse shopper and having them respond favorably to our recommendations. We want to targetour displays towards this group because they will provide us with a significant amount of customer insightand knowledge.Need-Based CustomersPeople in this category are driven by a specific need. When they enter the store, they will look to see if theycan have that need filled quickly. If not, they will leave right away. They buy for a variety of reasons such asa specific occasion, a specific need, or an absolute price point. As difficult as it can be to satisfy thesepeople, they can also become Loyal Customers if they are well taken care of. Salespeople may not find themto be a lot of fun to serve, but, in the end, they can often represent your greatest source of long-term growth.It is important to remember that Need-Based Customers can easily be lost to Internet sales or a differentretailer. To overcome this threat, positive personal interaction is required, usually from one of your topsalespeople. If they are treated to a level of service not available from the Web or another retail location,there is a very strong chance of making them Loyal Customers. For this reason, Need-Based Customersoffer the greatest long-term potential, surpassing even the Impulse segment.2. Discuss Freudian theory of personality. Give practical examples wherever possible.Answer: Freudian theory of personalitySigmund Freud (1856-1939) developed his ideas about psychoanalytic theory from work with mentalpatients. He was a medical doctor who specialized in neurology. He spent most of his years in Vienna,though he moved to London near the end of his career because of the Nazis anti-Semitism.Freud believed that personality has three structures: the id, the ego, and the superego. The id is the Freudianstructure of personality that consists of instincts, which are an individuals reservoir of psychic energy. InFreuds view, the id is totally unconscious; it has no contact with reality. As children experience thedemands and constraints of reality, a new structure of personality emerges- the ego, the Freudian structure ofpersonality that deals with the demands of reality.MANBIR SINGH PARMAR ROLL 581127511[Type text] Page 32
  33. 33. MANBIR SINGH PARMAR ROLL NO 581127511 MBA IN MARKETINGThe ego is called the executive branch of personality because it uses reasoning to make decisions. The idand the ego have no morality. They do not take into account whether something is right or wrong. Thesuperego is the Freudian structure of personality that is the moral branch of personality. The superego takes into account whether something is right or wrong. Think of the superego as what weoften refer to as our "conscience." You probably are beginning to sense that both the id and the superegomake life rough for the ego. Your ego might say, "I will have sex only occasionally and be sure to take theproper precautions because I dont want the intrusion of a child in the development of my career." However,your id is saying, "I want to be satisfied; sex is pleasurable." Your superego is at work, too: "I feel guiltyabout having sex before Im married."Remember that Freud considered personality to be like an iceberg; most of personality exists below our levelof awareness, just as the massive part of an iceberg is beneath the surface of the water. Freud believed thatmost of the important personality processes occur below the level of conscious awareness. In examining peoples conscious thoughts about their behaviors, we can see some reflections of the ego andthe superego. Whereas the ego and superego are partly conscious and partly unconscious, the primitive id isthe unconscious, the totally submerged part of the iceberg.How does the ego resolve the conflict among its demands for reality, the wishes of the id, and constraints ofthe superego? Through defense mechanisms, the psychoanalytic term for unconscious methods the ego usesto distort reality, thereby protecting it from anxiety. In Freuds view, the conflicting demands of thepersonality structures produce anxiety.3. Describe cognitive learning theory and cognitive response modelAnswer: Cognitive learning theoryCognitive learning theory, used in psychology, education, and communication, posits that portions of anindividuals knowledge acquisition can be directly related to observing others within the context of socialinteractions, experiences, and outside media influences. In other words, people do not learn new behaviorssolely by trying them and either succeeding or failing, but rather, the survival of humanity is dependent uponthe replication of the actions of others. Depending on whether people are rewarded or punished for theirbehavior and the outcome of the behavior, that behavior may be modeled. Further, media provide models fora vast array of people in many different environmental settings.Social cognitive theory stemmed out of work in the area of social learning theory proposed by Neal E.Miller and John Dollard in 1941.Identifying four key factors in learning new behavior, 1) drives, 2) cues, 3) responses, and 4) rewards,They posit that if one were motivated to learn a particular behavior, then that particular behavior would belearned through clear observations. By imitating these observed actions the individual observer wouldsolidify that learned action and would be rewarded with positive reinforcement. The proposition of sociallearning was expanded upon and theorized by Canadian psychologist Albert Bandura from 1962 until thepresent.Social cognitive theory is a learning theory based on the ideas that people learn by watching what others doand will not do, these processes are central to understanding personality. While social cognitists agree thatMANBIR SINGH PARMAR ROLL 581127511[Type text] Page 33
  34. 34. MANBIR SINGH PARMAR ROLL NO 581127511 MBA IN MARKETINGthere is a fair amount of influence on development generated by learned behavior displayed in theenvironment in which one grows up, they believe that the individual person (and therefore cognition) is justas important in determining moral development.People learn by observing others, with the environment, behavior, and cognition all as the chief factors ininfluencing development. These three factors are not static or independent elements; rather, they are allreciprocal. For example, each behavior witnessed can change a persons way of thinking (cognition).Similarly, the environment one is raised in may influence later behaviors, just as a fathers mindset (alsocognition) will determine the environment in which his children are raised.It is important to note that learning can occur without a change in behavior. According to J.E. Ormrodsgeneral principles of social learning, while a visible change in behavior is the most common proof oflearning, it is not absolutely necessary. Social learning theorists say that because people can learn throughobservation alone, their learning may not necessarily be shown in their performance.4. Describe diffusion process and adoption process.Answer:Diffusion of Innovations is a theory that seeks to explain how, why, and at what ratenew ideas and technology spread through cultures. Everett Rogers, a professor of rural sociology,popularized the theory in his 1962 book Diffusion of Innovations. He said diffusion is the process by whichan innovation is communicated through certain channels over time among the members of a social system.The origins of the diffusion of innovations theory are varied and span multiple disciplines.ElementsThe key elements in diffusion research are: Element Definition Rogers defines an innovation as "an idea, practice, or object that is perceived as new byInnovation an individual or other unit of adoption".Communication A communication channel is "the means by which messages get from one individual tochannels another". "The innovation-decision period is the length of time required to pass through theTime innovation-decision process". "Rate of adoption is the relative speed with which an innovation is adopted by members of a social system". "A social system is defined as a set of interrelated units that are engaged in jointSocial system problem solving to accomplish a common goal".MANBIR SINGH PARMAR ROLL 581127511[Type text] Page 34

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