Product hierarchy and line
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Product hierarchy classifies products into essential components from basic needs to specific items. It progresses from (1) product need, such as the need for transportation, to (2) product family which satisfies that need through various modes like cars, trains, planes. (3) Product class further categorizes related goods within a company, while (4) product line refers to a whole range of items in a category. (5) Product types differentiate items within a line, and (6) product units are the last and most specific elements, like the Hyundai I20 Asta and Magna models.
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Objective and Types of Financial Statements
The document discusses the objectives of financial statements. It notes that financial statements should provide a true and fair view of a company's financial position and performance. They should also provide information about a company's resources and earning potential to help stakeholders like investors, suppliers and lenders make informed decisions. Financial statements are a way for owners and managers to assess the effectiveness and efficiency of company management. The key financial statements are the income statement, balance sheet, statement of cash flows, and statement of changes in equity.
debenture issue and redemption
The document discusses different scenarios for issuing and redeeming debentures. It provides journal entries for debentures being issued at par, premium or discount and redeemed at par or premium. Specifically, it gives examples of journal entries for the issue of 1000, 9% debentures of Rs. 100 each under six scenarios - issued at par and redeemable at par, issued at premium but redeemable at par, issued at discount but redeemable at par, issued at par but redeemable at premium, issued at discount but redeemable at premium, and issued at premium and redeemable at premium.
debenture as consideration otherthan cash
1. The document discusses the journal entries for issuing debentures as consideration for the purchase of assets or a business.
2. When debentures are issued at par value, the vendor account is debited and the debentures account is credited.
3. An example shows the journal entries for issuing debentures at par, 10% premium, and 10% discount as consideration for purchasing assets and liabilities from another company.
Issue of Debenture
The document discusses the issuance of debentures by companies. It states that companies must receive minimum subscription as stated in the prospectus before allotting debentures. Debentures can be issued for cash, consideration other than cash, or as collateral security. They can be issued at par, at a premium, or at a discount. The document provides journal entries for the issuance of debentures for cash both as a lump sum and in installments, as well as examples of entries for debentures issued at a premium or discount.
Introduction to debentures
This document discusses debentures and compares them to bonds. It defines debentures as an acknowledgement of debt issued by a company under its common seal. Debentures can be secured or unsecured, whereas bonds are generally more secure. Debentures are issued by companies to raise funds, while bonds are typically issued by governments or large corporations. Debentures carry higher risk than bonds but also offer higher interest rates. The document outlines the key characteristics of debentures, including different types classified by security, redemption period, negotiability, priority, coupon rates, and convertibility. It also compares debenture holders to shareholders.
Product mix
Product mix refers to the total number of product lines and products offered by a company. It has four dimensions: width refers to number of product lines, length is total number of products, depth is variants within lines, and consistency is how linked products are. A product line is a subset of the mix and refers to a unique product category. There are various strategies for managing a product mix, including expanding or contracting lines, deepening lines, altering existing products, developing new uses, and differentiating products from competitors.
Marketing orientations
The document discusses different marketing orientations that companies can adopt. It describes production, product, sales, societal, and market orientations. Production orientation focuses on lowering costs, while product orientation focuses on product quality. Sales orientation prioritizes selling existing products. Societal orientation considers environmental and social impacts. Market orientation researches customer needs and designs products to meet those needs, taking a customer-first approach.
Functions of Marketing
Marketing research involves assessing customer needs and transmitting that information to design marketing activities. This includes understanding customer demographics and preferences. Product design and development plays an important role by making products attractive to sell more. Standardization and grading help ensure consistency in product size, quality and materials. Packaging protects products during transport and storage and allows for different quantities. Branding gives a product a distinct identity from competitors. Pricing considers factors like demand, costs and competitors. Customer support services help retain customers through after-sales support and complaint handling. Buying ensures necessary resources are obtained. Promotion grows awareness through advertising, selling, sales promotions and publicity. Physical distribution decisions cover transportation, inventory, warehousing and order processing to get products to
Introduction to marketing
This document provides an introduction to marketing. It defines key marketing terms like market, marketing, and marketing management. Marketing is defined as the process of planning and executing activities to create exchanges and satisfy customer needs. The goals of marketing are to attract new customers by offering value and keep current customers satisfied. The marketing process involves understanding customer needs, developing a customer-driven strategy, creating an integrated program, building relationships, and generating profits. Marketing is important for business survival, community benefit, efficient resource use, and economic development.
Bank marketing
Bank marketing aims to provide financial services to customers in a more effective and efficient way than competitors, while meeting the bank's objectives. It involves identifying profitable markets and customer needs, setting business goals, promoting services and products, and adapting to changes. The marketing mix for banks includes product variety, competitive pricing strategies, personal selling and advertising promotions, convenient branch locations, quality human resources, and addressing problems like low service quality and inadequate promotion. Effective bank marketing requires identifying customer needs, developing products to meet those needs, communicating with target customers, reaching customers through appropriate channels, and obtaining feedback.
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Product hierarchy and line
- 2. Product hierarchy is the classification of a product into its essential components. It is inevitable that a product is related or connected to another. The hierarchy of the products stretches from basic fundamental needs to specific items that satiate the particular needs.
- 3. 1- PRODUCT NEED The product need is the primary reason for the existence of a product. For example, motor vehicles exist because people have to and want to travel. This is the core product need, for example, Toyota, Hyundai, Volkswagen..
- 4. 2- PRODUCT FAMILY In product family, the core need satisfied by a product is the focus. This means that the attention should not be on the individual market but rather the entire business market. For example, if travelling is the core need, then it can be satisfied by planes, trains or ships. In this case, the Product family is passenger travel and the product family of Volkswagen is Cars.
- 5. 3) PRODUCT CLASS Product class and product family have a lot in common and can be used interchangeably. Volkswagen, for example, makes buses and two-seater luxury automobiles, as well as other multi-passenger transportation vehicles. As a result, product class is used to categorise various goods within the firm (rather than outside the company, as in product family)
- 6. 4- PRODUCT LINE The product line refers to the whole range of items within a single product category. So, if we're talking about Volkswagen passenger vehicles, we've got the Volkswagen Polo and the Volkswagen Vento, as well as other Volkswagen models. Audi, on the other hand, is a Volkswagen brand that is separated into numerous model lines, including the Q series. So, the Q series is only one of Audi's product lines, and there will be others.
- 7. 5-PRODUCT TYPE Inside the Product line there are different item types. For instance – If we discuss Hyundai's I20, then, at that point there is I20 Asta, I20 Magna just as I20 Sportz. So I20 turns into an item type and different models become item units (clarified underneath).
- 8. 6- PRODUCT UNIT The product unit, often known as the SKU, is the last element in the Product hierarchy. Continuing with the previous example, the Hyundai I20 Asta and the Hyundai I20 Magna are both Product units. If a product is self-contained and not dependent on other products, it is referred to as an individual product unit.
- 9. THANKS