This document provides an overview of the concepts of purchase and sale in business. It defines purchase as a process where ownership of goods or properties is transferred to a person from another in exchange for payment of money. Similarly, sale is defined as a process where ownership is transferred from the seller to the buyer for a price. Purchase and sale involve two parties - a seller who sells goods/services and a buyer who purchases them. Goods can be purchased through various modes such as inspection of goods, examination of samples/patterns, or description of goods. Similarly, there are different methods of sale such as cash/credit basis, hire purchase, instalment plans, auction etc.
An unpaid seller is a seller who has not received full or partial payment for goods sold. As an unpaid seller, they have certain rights depending on whether property in the goods has passed to the buyer. These rights include lien, stoppage in transit, resale, and withholding delivery. The right of lien allows the seller to keep possession of goods until payment. Stoppage in transit applies when goods are in transit and the buyer becomes insolvent. An unpaid seller also has the right to resell goods in certain circumstances after providing notice to the buyer. If property has not passed, the seller can withhold delivery of goods until payment or conditions are fulfilled.
The document discusses the evolution of personal selling over time from the 1930s to present day. It outlines 4 main time periods: 1930 to 1960 focused on short-term sales; 1960 to 1990 focused on satisfying customer needs as a short-term seller; after 1990 focused on building long-term customer and seller relationships. The role of the salesperson evolved from a provider to a persuader to a problem solver and now focuses on value creation. Activities also evolved from taking orders to aggressively convincing buyers to marketing available offerings and now creating new alternatives.
The document discusses retail inventory management. It describes the different types of inventory including raw materials, work in progress, finished goods, and scraps. It also discusses inventory control and the objectives of maintaining optimal inventory levels. The key challenges discussed include balancing ordering costs, carrying costs, and stockout costs. ABC classification is presented as a method to prioritize inventory items.
The document discusses effective communication techniques for salespeople, including using words, body language, visual aids, and listening. It emphasizes the importance of nonverbal communication and outlines factors that can act as barriers to communication like differences in perception and information overload. It also provides tips for maintaining control in a sales presentation through persuasive communication, empathy, feedback, and creating trust with customers.
This document outlines 10 key concepts about retailing, wholesaling, and logistics. It defines retailing and wholesaling, describes the major types of each, and explains how franchising works. It also discusses how market logistic decisions are made and trends in logistics, such as frequent deliveries, shorter order times, and customized packaging.
The document discusses the dynamics of perception from three aspects: perceptual selection, organization, and interpretation. It focuses on perceptual selection, which involves consumers selectively attending to environmental stimuli based on three main factors: the nature of the stimulus, their previous experiences, and their motives. Consumers filter stimuli through selective exposure, selective attention, perceptual defense, and perceptual blocking mechanisms. They tend to notice stimuli that confirm their beliefs and fulfill their needs, while ignoring threatening or irrelevant information.
An unpaid seller is a seller who has not received full or partial payment for goods sold. As an unpaid seller, they have certain rights depending on whether property in the goods has passed to the buyer. These rights include lien, stoppage in transit, resale, and withholding delivery. The right of lien allows the seller to keep possession of goods until payment. Stoppage in transit applies when goods are in transit and the buyer becomes insolvent. An unpaid seller also has the right to resell goods in certain circumstances after providing notice to the buyer. If property has not passed, the seller can withhold delivery of goods until payment or conditions are fulfilled.
The document discusses the evolution of personal selling over time from the 1930s to present day. It outlines 4 main time periods: 1930 to 1960 focused on short-term sales; 1960 to 1990 focused on satisfying customer needs as a short-term seller; after 1990 focused on building long-term customer and seller relationships. The role of the salesperson evolved from a provider to a persuader to a problem solver and now focuses on value creation. Activities also evolved from taking orders to aggressively convincing buyers to marketing available offerings and now creating new alternatives.
The document discusses retail inventory management. It describes the different types of inventory including raw materials, work in progress, finished goods, and scraps. It also discusses inventory control and the objectives of maintaining optimal inventory levels. The key challenges discussed include balancing ordering costs, carrying costs, and stockout costs. ABC classification is presented as a method to prioritize inventory items.
The document discusses effective communication techniques for salespeople, including using words, body language, visual aids, and listening. It emphasizes the importance of nonverbal communication and outlines factors that can act as barriers to communication like differences in perception and information overload. It also provides tips for maintaining control in a sales presentation through persuasive communication, empathy, feedback, and creating trust with customers.
This document outlines 10 key concepts about retailing, wholesaling, and logistics. It defines retailing and wholesaling, describes the major types of each, and explains how franchising works. It also discusses how market logistic decisions are made and trends in logistics, such as frequent deliveries, shorter order times, and customized packaging.
The document discusses the dynamics of perception from three aspects: perceptual selection, organization, and interpretation. It focuses on perceptual selection, which involves consumers selectively attending to environmental stimuli based on three main factors: the nature of the stimulus, their previous experiences, and their motives. Consumers filter stimuli through selective exposure, selective attention, perceptual defense, and perceptual blocking mechanisms. They tend to notice stimuli that confirm their beliefs and fulfill their needs, while ignoring threatening or irrelevant information.
To understand psychology in selling, buying decision process and buying situations
To learn communication skills, sales knowledge, and sales related marketing policies
To understand personal selling process
To learn about negotiation
This document discusses marketing channels and their evolution. It describes how marketing channels link producers to buyers, influence pricing strategies, and customize services. It then outlines the historical development of marketing channels from agricultural to industrial systems and the rise of independent intermediaries. Finally, it categorizes possible channel formats that are product-driven, seller-driven, or service-driven and lists the functions performed by marketing channels.
This document discusses factors that influence customer purchase decisions and how retailers can target different types of customers. It covers the stages in the buying process, types of customer needs, and how social factors like family, culture, and reference groups affect purchasing. Retailers are advised to segment their markets using approaches like geography, demographics, lifestyle, buying situations, and customer benefits sought. Understanding these influences can help retailers design effective marketing strategies to attract different kinds of customers.
Marketing channels refer to the chain of intermediaries through which a product passes from producer to consumer. They include wholesalers, retailers, and distributors. Choosing distribution channels is a critical decision that affects other marketing decisions and a firm's sales. Channels can be direct, with consumers purchasing directly from manufacturers, or indirect, with consumers buying through wholesalers or retailers. Common intermediaries are merchants like wholesalers and retailers, and agents like brokers. Factors that influence channel choice include the product, market forces, institutional capabilities, and company objectives and policies.
Promotion refers to communicating a product, brand, or service to users through various activities with the objectives of providing information to users, increasing demand, differentiating the product from others, and stabilizing sales. Some key types of promotion mix include advertising, publicity, personal selling, public relations, sales promotion, and direct marketing.
A merchandise plan outlines how a retailer will market the right products, in the right quantities, at the right price and location. To implement the plan, a retailer gathers market data from consumers and suppliers. They then select suppliers, evaluate product samples or descriptions, and negotiate purchase terms. Retailers receive and process inventory, check invoices, and arrange delivery before reordering based on factors like timing, turnover, costs and outlays. The plan is regularly re-evaluated to improve future efforts.
Chapter 5 Personality And Consumer BehaviorAvinash Kumar
The document discusses theories of personality and how they relate to consumer behavior. It covers Freudian theories that see consumption as reflecting unconscious drives. Neo-Freudian theory examines social relationships and feelings of inferiority. Trait theory views personality as traits like innovativeness and dogmatism that influence choices. Cognitive factors like need for cognition also affect responses to ads. Materialism and compulsive buying are examined. Color and product personalities are discussed in how they shape brand perceptions.
The document discusses physical distribution and distribution channels. It defines physical distribution as moving tangible products through distribution channels. Physical distribution management involves activities like order processing, inventory control, inventory location and warehousing, materials handling, and transportation. When designing marketing channels, marketers consider factors like setting distribution objectives, specifying distribution tasks, developing alternative channel structures, evaluating relevant variables, and selecting channel members. Channel structure dimensions include the number of levels, intensity at various levels, and types of intermediaries. Variables affecting channel structure are market variables, product variables, company variables, intermediary variables, and environmental/behavioral variables. The key is developing a channel structure that aligns with objectives and considers all relevant factors.
Motivation is the driving force within individuals that implies them to action…….
TYPES OF MOTIVATION
Positive Motivation
Negative Motivation
Extrinsic Motivation
Intrinsic Motivation
Represents the drive to satisfy both physiological and psychological needs through product purchase and consumption
Gives insights into why people buy certain products
Stems from consumer needs: industries have been built around basic human needs
Consumer Behaviour and Retail Operations discusses key concepts in consumer behaviour and how they relate to retail operations. It defines consumer behaviour and explains why studying it is important for retailers. It describes the needs, wants, and demands that drive the consumer purchase process. It also summarizes models of consumer decision making, the factors that influence consumption, and segmentation strategies used by retailers. Overall, the document provides an overview of theoretical frameworks for understanding consumer motivation and decision making in a retail context.
The document outlines learning objectives and describes different types of buyer behavior, including consumers and business buyers. It then discusses the consumer buying decision process in 3 stages: need recognition, information search, and evaluation of alternatives leading to a purchase decision. It also describes factors that influence consumer behavior such as cultural, social, personal, psychological factors and types of buying behavior.
Personal selling involves face-to-face communication between a seller and buyer with the goal of making a sale. It is one of the oldest forms of promotion. The personal selling process typically involves prospecting, pre-approach planning, the approach, presentation, handling objections, closing the sale, and follow-up. It is most useful for small businesses, concentrated markets, complex products, and those requiring demonstrations. Benefits include customized messaging, feedback, and building long-term relationships, though it also has higher costs than other promotional methods.
The document provides an overview of key concepts in product management including:
1) It defines products as physical goods and intangible services offered by a company and discusses different levels of products from the core to potential products.
2) It classifies products as consumer products that include convenience, shopping, specialty, unsought, and emergency products or business/industrial products like raw materials and components.
3) Finally, it discusses different organizational structures for marketing like product-focused, market-focused, and functionally-focused structures and their advantages and disadvantages.
Merchandising involves acquiring goods and making them available to customers at the right times, prices and quantities to meet retailer goals. A merchandising philosophy guides product decisions based on the target market, competitors, and trends. Effective merchandising requires planning assortments, inventory levels, pricing, and more to sell the right products profitably. Retailers must determine their merchandising strategy in terms of brand offerings, product breadth and depth to meet customer needs within budget.
This document discusses key aspects of merchandise management for retailers. It begins by defining merchandise management as the process of offering the right products, in the right quantities, in the right locations, at the right times to meet financial goals. It then covers topics like buying organizations, merchandise categories, category management, inventory turnover, sales forecasting, assortment planning, and vendor evaluation. The overall goal of merchandise management is to maximize sales and profits through effectively planning product assortments and inventory levels.
Chapter 6 Legal and Ethical Behavior in RetailingLena Argosino
This document summarizes key legal and ethical constraints and considerations for retailers. It discusses laws around pricing (including price fixing and discrimination), promotions (deceptive advertising and sales practices), products (liability, warranties and safety), supply chains (territorial restrictions and exclusive dealing) and ethics (in buying, selling and treating employees). Retailers must understand and comply with various federal, state and local regulations to operate legally and ethically.
1) After making a purchase, consumers may experience post-purchase dissonance or doubts about their decision. They will seek information to justify their choice and reduce these doubts.
2) Most purchases are followed by product use. How the product is used and disposed of is evaluated by the consumer. Satisfaction depends on whether expectations are met or exceeded by the product's performance.
3) Post-purchase actions include repeat purchases, brand switching, or discontinuing use, depending on the consumer's level of satisfaction. Marketers should monitor post-purchase behavior and satisfaction to improve products, marketing, and customer retention.
The passage discusses the importance of summarization for processing large amounts of text data. It notes that automatic summarization systems aim to produce concise summaries while retaining the most important concepts from the original text in 1-3 sentences. The challenges of building such systems that can accurately determine salience across different domains are also briefly touched upon.
The document discusses the retail buying process and how it varies for different types of retail organizations. It describes the key participants in the buying center and the typical stages of the buying process. Additionally, it examines how organizational factors, interactions between members of the buying center, and personal attributes can influence the buying decision.
This document discusses different types of retailers, including food retailers like supermarkets, supercenters, warehouse clubs, and convenience stores. It also discusses general merchandise retailers such as department stores, discount stores, specialty stores, drugstores, home improvement centers, and off-price retailers. The document outlines the characteristics used to classify retailers, including merchandise type, variety/assortment, services offered, and price. It provides examples of different retailers and trends in retail formats.
This document discusses saving, insurance, and different types of insurance products. It defines saving as income minus consumption, and explains that saving is important to meet future needs since the future is uncertain. Insurance is defined as a financial product that can be purchased to partly or fully recover losses from events beyond one's control. Key insurance products discussed include auto insurance, which compensates for vehicle damage, and health insurance, which reimburses some medical expenses. Saving allows individuals to lend funds and earn interest, while many small savings collectively support economic development when deposited in banks and post offices.
This document discusses exponents and radicals. It introduces exponential notation to write repeated multiplication concisely. Natural numbers can be uniquely expressed as a product of prime number factors raised to powers. Radicals are also introduced to represent roots of numbers. Laws of exponents and radicals are defined to simplify expressions. The objectives are to write expressions using exponential notation, factor numbers, simplify expressions using exponent laws, and perform operations on radicals.
To understand psychology in selling, buying decision process and buying situations
To learn communication skills, sales knowledge, and sales related marketing policies
To understand personal selling process
To learn about negotiation
This document discusses marketing channels and their evolution. It describes how marketing channels link producers to buyers, influence pricing strategies, and customize services. It then outlines the historical development of marketing channels from agricultural to industrial systems and the rise of independent intermediaries. Finally, it categorizes possible channel formats that are product-driven, seller-driven, or service-driven and lists the functions performed by marketing channels.
This document discusses factors that influence customer purchase decisions and how retailers can target different types of customers. It covers the stages in the buying process, types of customer needs, and how social factors like family, culture, and reference groups affect purchasing. Retailers are advised to segment their markets using approaches like geography, demographics, lifestyle, buying situations, and customer benefits sought. Understanding these influences can help retailers design effective marketing strategies to attract different kinds of customers.
Marketing channels refer to the chain of intermediaries through which a product passes from producer to consumer. They include wholesalers, retailers, and distributors. Choosing distribution channels is a critical decision that affects other marketing decisions and a firm's sales. Channels can be direct, with consumers purchasing directly from manufacturers, or indirect, with consumers buying through wholesalers or retailers. Common intermediaries are merchants like wholesalers and retailers, and agents like brokers. Factors that influence channel choice include the product, market forces, institutional capabilities, and company objectives and policies.
Promotion refers to communicating a product, brand, or service to users through various activities with the objectives of providing information to users, increasing demand, differentiating the product from others, and stabilizing sales. Some key types of promotion mix include advertising, publicity, personal selling, public relations, sales promotion, and direct marketing.
A merchandise plan outlines how a retailer will market the right products, in the right quantities, at the right price and location. To implement the plan, a retailer gathers market data from consumers and suppliers. They then select suppliers, evaluate product samples or descriptions, and negotiate purchase terms. Retailers receive and process inventory, check invoices, and arrange delivery before reordering based on factors like timing, turnover, costs and outlays. The plan is regularly re-evaluated to improve future efforts.
Chapter 5 Personality And Consumer BehaviorAvinash Kumar
The document discusses theories of personality and how they relate to consumer behavior. It covers Freudian theories that see consumption as reflecting unconscious drives. Neo-Freudian theory examines social relationships and feelings of inferiority. Trait theory views personality as traits like innovativeness and dogmatism that influence choices. Cognitive factors like need for cognition also affect responses to ads. Materialism and compulsive buying are examined. Color and product personalities are discussed in how they shape brand perceptions.
The document discusses physical distribution and distribution channels. It defines physical distribution as moving tangible products through distribution channels. Physical distribution management involves activities like order processing, inventory control, inventory location and warehousing, materials handling, and transportation. When designing marketing channels, marketers consider factors like setting distribution objectives, specifying distribution tasks, developing alternative channel structures, evaluating relevant variables, and selecting channel members. Channel structure dimensions include the number of levels, intensity at various levels, and types of intermediaries. Variables affecting channel structure are market variables, product variables, company variables, intermediary variables, and environmental/behavioral variables. The key is developing a channel structure that aligns with objectives and considers all relevant factors.
Motivation is the driving force within individuals that implies them to action…….
TYPES OF MOTIVATION
Positive Motivation
Negative Motivation
Extrinsic Motivation
Intrinsic Motivation
Represents the drive to satisfy both physiological and psychological needs through product purchase and consumption
Gives insights into why people buy certain products
Stems from consumer needs: industries have been built around basic human needs
Consumer Behaviour and Retail Operations discusses key concepts in consumer behaviour and how they relate to retail operations. It defines consumer behaviour and explains why studying it is important for retailers. It describes the needs, wants, and demands that drive the consumer purchase process. It also summarizes models of consumer decision making, the factors that influence consumption, and segmentation strategies used by retailers. Overall, the document provides an overview of theoretical frameworks for understanding consumer motivation and decision making in a retail context.
The document outlines learning objectives and describes different types of buyer behavior, including consumers and business buyers. It then discusses the consumer buying decision process in 3 stages: need recognition, information search, and evaluation of alternatives leading to a purchase decision. It also describes factors that influence consumer behavior such as cultural, social, personal, psychological factors and types of buying behavior.
Personal selling involves face-to-face communication between a seller and buyer with the goal of making a sale. It is one of the oldest forms of promotion. The personal selling process typically involves prospecting, pre-approach planning, the approach, presentation, handling objections, closing the sale, and follow-up. It is most useful for small businesses, concentrated markets, complex products, and those requiring demonstrations. Benefits include customized messaging, feedback, and building long-term relationships, though it also has higher costs than other promotional methods.
The document provides an overview of key concepts in product management including:
1) It defines products as physical goods and intangible services offered by a company and discusses different levels of products from the core to potential products.
2) It classifies products as consumer products that include convenience, shopping, specialty, unsought, and emergency products or business/industrial products like raw materials and components.
3) Finally, it discusses different organizational structures for marketing like product-focused, market-focused, and functionally-focused structures and their advantages and disadvantages.
Merchandising involves acquiring goods and making them available to customers at the right times, prices and quantities to meet retailer goals. A merchandising philosophy guides product decisions based on the target market, competitors, and trends. Effective merchandising requires planning assortments, inventory levels, pricing, and more to sell the right products profitably. Retailers must determine their merchandising strategy in terms of brand offerings, product breadth and depth to meet customer needs within budget.
This document discusses key aspects of merchandise management for retailers. It begins by defining merchandise management as the process of offering the right products, in the right quantities, in the right locations, at the right times to meet financial goals. It then covers topics like buying organizations, merchandise categories, category management, inventory turnover, sales forecasting, assortment planning, and vendor evaluation. The overall goal of merchandise management is to maximize sales and profits through effectively planning product assortments and inventory levels.
Chapter 6 Legal and Ethical Behavior in RetailingLena Argosino
This document summarizes key legal and ethical constraints and considerations for retailers. It discusses laws around pricing (including price fixing and discrimination), promotions (deceptive advertising and sales practices), products (liability, warranties and safety), supply chains (territorial restrictions and exclusive dealing) and ethics (in buying, selling and treating employees). Retailers must understand and comply with various federal, state and local regulations to operate legally and ethically.
1) After making a purchase, consumers may experience post-purchase dissonance or doubts about their decision. They will seek information to justify their choice and reduce these doubts.
2) Most purchases are followed by product use. How the product is used and disposed of is evaluated by the consumer. Satisfaction depends on whether expectations are met or exceeded by the product's performance.
3) Post-purchase actions include repeat purchases, brand switching, or discontinuing use, depending on the consumer's level of satisfaction. Marketers should monitor post-purchase behavior and satisfaction to improve products, marketing, and customer retention.
The passage discusses the importance of summarization for processing large amounts of text data. It notes that automatic summarization systems aim to produce concise summaries while retaining the most important concepts from the original text in 1-3 sentences. The challenges of building such systems that can accurately determine salience across different domains are also briefly touched upon.
The document discusses the retail buying process and how it varies for different types of retail organizations. It describes the key participants in the buying center and the typical stages of the buying process. Additionally, it examines how organizational factors, interactions between members of the buying center, and personal attributes can influence the buying decision.
This document discusses different types of retailers, including food retailers like supermarkets, supercenters, warehouse clubs, and convenience stores. It also discusses general merchandise retailers such as department stores, discount stores, specialty stores, drugstores, home improvement centers, and off-price retailers. The document outlines the characteristics used to classify retailers, including merchandise type, variety/assortment, services offered, and price. It provides examples of different retailers and trends in retail formats.
This document discusses saving, insurance, and different types of insurance products. It defines saving as income minus consumption, and explains that saving is important to meet future needs since the future is uncertain. Insurance is defined as a financial product that can be purchased to partly or fully recover losses from events beyond one's control. Key insurance products discussed include auto insurance, which compensates for vehicle damage, and health insurance, which reimburses some medical expenses. Saving allows individuals to lend funds and earn interest, while many small savings collectively support economic development when deposited in banks and post offices.
This document discusses exponents and radicals. It introduces exponential notation to write repeated multiplication concisely. Natural numbers can be uniquely expressed as a product of prime number factors raised to powers. Radicals are also introduced to represent roots of numbers. Laws of exponents and radicals are defined to simplify expressions. The objectives are to write expressions using exponential notation, factor numbers, simplify expressions using exponent laws, and perform operations on radicals.
The document discusses different types of markets, including monopoly, perfect competition, wholesale, and retail markets. It defines a market as an arrangement where buyers and sellers interact directly or indirectly to buy and sell goods. A monopoly exists when there is a single seller of a unique product with no close substitutes. Perfect competition exists when many small firms sell homogeneous products with free entry and exit into the market. Wholesale markets involve the sale of goods in large quantities to retailers, while retail markets involve the sale of goods in small quantities directly to consumers. Online markets allow consumers to directly purchase goods or services from sellers over the internet.
Production, consumption, and capital formation are the basic economic activities. Production involves combining factors of land, labor, capital, and entrepreneurship to produce goods and services. The factors are paid incomes of rent, wages, interest, and profits. Consumption is the use of goods and services to satisfy wants and needs. Some of current production is saved and added to existing capital like machinery and buildings to expand future production potential through capital formation. So what is produced is disposed through consumption or capital formation.
This document summarizes the climate of India and factors that influence it. It discusses:
- India's climate is influenced by its location near the equator, proximity to seas, altitude variations, mountain ranges like the Himalayas, wind patterns including monsoons, and jet streams.
- The monsoon is caused by differential heating of land and sea, creating low pressure over land and high pressure over the Indian Ocean in summer, drawing moist winds inland.
- India experiences a variety of climates from tropical in the south to temperate in the north, with cooler temperatures at higher altitudes. The monsoon brings most of India's annual rainfall from June to September.
- The document discusses congruence of triangles and various criteria for determining if two triangles are congruent.
- There are four criteria presented: 1) SAS (two sides and included angle are equal), 2) ASA (two angles and a non-included side are equal), 3) SSS (all three sides are equal), and 4) RHS (right triangle with hypotenuse and one side equal).
- Theorems are proved that the angles opposite equal sides of a triangle are equal, and the sides opposite equal angles of a triangle are equal.
Nimrat notices that her newborn sister Sufi is rapidly developing and changing in many ways. The document discusses the basic concepts of development, including the differences between growth and development, maturation versus learning, and the roles of heredity and environment. It also outlines several principles of development, such as development occurring in stages and being predictable, while differing in rates for different parts of the body. Early development is noted as being more important than later development.
The document discusses advertising and its importance for businesses. It begins by explaining that for a business to succeed, customers must be made aware of its products/services through advertising. Advertising makes people aware of the availability, price and features of products so that customers can make informed purchase decisions.
The key objectives of advertising are to educate customers, create demand for new products, retain existing customers, and increase sales. Advertising helps achieve these objectives. Various media are used for advertising like print media (newspapers, magazines), electronic media (radio, television, internet) and other outdoor media (hoardings, posters, vehicle displays). Each media has its own advantages and limitations for businesses to consider when selecting advertising channels.
- The document discusses various techniques for controlling and disciplining the mind, including Jeevan Vigyan, Preksha Dhyana, Art of Living, Transcendental Meditation, and Vipassana.
- Jeevan Vigyan teaches positive values and helps develop emotional competence through controlling emotions. Preksha Dhyana involves relaxation and awareness techniques like Kayotsarg.
- Art of Living introduces techniques like Sudarshan Kriya to reduce stress through breathwork. Transcendental Meditation moves the mind from surface thoughts to deeper levels of consciousness. Vipassana involves mindful observation of the breath without control.
1. The document discusses several important Indian scientists from modern times who contributed greatly to fields like mathematics, physics, and plant physiology.
2. It describes the achievements of scientists like Srinivasa Ramanujan in mathematics, C.V. Raman who discovered the Raman Effect and won the Nobel Prize in Physics, and J.C. Bose who invented the Crescograph to study plant growth.
3. These scientists helped reawaken India's legacy of scientific achievement and brought great respect and recognition to India through their groundbreaking work.
The document provides an overview of different methods used in psychology to study human behavior and mental processes. It discusses several key approaches:
1) The biological approach focuses on biological structures like the brain, genes, and hormones to understand behavior.
2) Observation is a systematic method of recording events without interference to study behavior in natural and laboratory settings.
3) Psychological research uses scientific methods like observation, surveys, and experiments to develop theories about human behavior that can be tested and applied to solve problems.
The document defines key geometry concepts like point, line, plane, angle, and different types of angles. It discusses pairs of angles formed when lines intersect or a transversal crosses parallel lines. Specifically:
1) When two lines intersect, pairs of vertically opposite angles are equal.
2) When a transversal crosses parallel lines, corresponding angles are equal, alternate angles are equal, and interior angles on the same side of the transversal are supplementary.
3) The sum of the angles of any triangle is 180 degrees.
Large-scale retail trade refers to shops that purchase goods in bulk directly from manufacturers and sell them to a large number of customers. Department stores and super bazaars are examples of large-scale retail trade organizations. Department stores are large retail shops divided into departments that each deal with a specific type of good. They provide conveniences like restaurants and ATMs. Super bazaars are large cooperative stores that sell a wide variety of products for daily needs at reasonable prices by eliminating middlemen.
Nurturing the whole being an indian perspectiveindianeducation
The document discusses Indian perspectives on nurturing the whole being and personality development from a holistic view. It describes the concept of panch koshas (five sheaths of human existence), including the annamaya kosha (physical body), pranamaya kosha (vital sheath), manomaya kosha (mental sheath), vijnanamaya kosha (intellectual sheath), and anandamaya kosha (blissful sheath). It also discusses the three gunas of sattwa, rajas, and tamas, and how personalities can be influenced by different proportions of these qualities. Finally, it explains Sri Aurobindo's view of levels of consciousness as
1. Sound is produced by vibrations that travel through a medium as a wave. Waves have characteristics like amplitude, wavelength, frequency, and period.
2. Sound waves are longitudinal mechanical waves that travel through the compression and rarefaction of molecules in a medium like air. They require a medium and cannot travel through a vacuum.
3. There are different types of waves including mechanical and electromagnetic. Mechanical waves like sound require a medium while electromagnetic waves can travel through a vacuum.
Local governments and field administrations in indiaindianeducation
This document provides information about local governments in India. It discusses how Vijay, after returning to his native village after many years, noticed improvements like a new school, volleyball ground, and tubewell. When he asked the teacher about these changes, the teacher explained they were due to efforts of the newly elected Sarpanch and panches of the Gram Panchayat, with support from field administration. The document then discusses the structure and functions of local governments in India, including the three-tier Panchayati Raj system of rural local governance and the impact of the 73rd Constitutional Amendment.
This document discusses demand and the factors that influence it. It begins by defining demand as the quantity of a good purchased at a given price and time period. It then explains that demand is influenced by price, income, tastes/preferences, and prices of related goods. The document provides an example of an individual's demand schedule for mangoes and uses it to construct an individual demand curve, which graphs the inverse relationship between price and quantity demanded as described by the law of demand. It concludes by defining market demand as the total quantity demanded by all individual buyers in the market.
The document provides background on modern India, describing how:
1) The British gained political control over India through the East India Company and exploited India's economy and resources for British benefit.
2) Social conditions in 18th century India were characterized by religious divisions and oppressive treatment of women and lower castes.
3) Prominent social and religious reformers like Raja Ram Mohan Roy and Swami Vivekananda worked to improve social conditions and promote nationalism by opposing practices like sati and the caste system.
(1) Psychology is the systematic scientific study of mental processes, experiences, and behaviors. It has its origins in ancient Greece and was formally established as a field by Wilhelm Wundt in 1879.
(2) The document discusses the nature and scope of psychology. It examines the study of experiences, mental processes, and behaviors. It also explores basic psychological processes like sensation, attention, perception, learning, memory, and thinking.
(3) The scope of psychology is broad, covering topics from biological systems and development to cognition, motivation, emotion, and individual differences. It aims to further understanding of human nature and facilitate solving personal and social problems.
To be an effective entrepreneur, one must understand customer needs and motivations for purchasing products and services. Entrepreneurs meet customer demands by fulfilling their needs through innovation. They play an important role in economic development by starting new businesses and industries. Successful entrepreneurs understand both buyers and sellers. Buyers seek quality products at low costs, while performing research and evaluations. Sellers must deliver products on time, provide warranties, and receive agreed payments. Relationships may be short-term for single purchases or long-term through established agreements.
Ethical behaviour in buying and selling in retailLena Argosino
The document discusses ethical behavior in various aspects of retail merchandise buying and selling. It addresses ethical sourcing of merchandise, selling practices, and relationships between retailers and employees. Specifically, it discusses sourcing from reputable suppliers, treating customers respectfully, avoiding commercial bribery, selecting products customers want to buy, using company assets appropriately, and handling job switching ethically. The overall message is that retailers must conduct business honestly and prioritize strong relationships with partners and customers.
The document discusses ethical behavior in various aspects of retail business, including buying and selling merchandise, employee relationships, and interactions with customers. It provides guidance on sourcing merchandise from reputable suppliers, treating employees and customers with respect, and avoiding deceptive sales practices or commercial bribery. Overall, the document emphasizes the importance of integrity, quality, and fairness in retail operations.
This document provides tips for consumers on wise buying practices. It states that sellers sometimes allow installment payments or partial upfront payments for purchases. Buyers should evaluate loan options and obtain a cash receipt. During festivals or sales, goods may be delivered to save on transportation costs. Mass media and online sources provide the latest product information. Wise buying involves determining what, where, when, why and how to purchase goods based on needs, budgets, promotions and quality. Standardized, labeled products from established sellers after comparing multiple price quotes are recommended.
This document provides an overview of key marketing concepts and frameworks. It discusses exchange as the core concept of marketing and outlines the conditions for exchange. It then summarizes different marketing orientations including the production, product, selling, marketing, and societal marketing concepts. The document also covers consumer behavior factors like culture, subculture, groups, and the consumer decision process. Finally, it defines the marketing mix and its key elements of product, price, place, and promotion.
Merchandising definition. Role in apparel sector
Alphabetical meaning of MERCHANDISER, quality and job responsibility.
Merchandising process
Buyer, order, business procedure and legal requirements for apparel business.
The document discusses the meaning and roles of selling, the duties and responsibilities of salespeople, and the traits that make an effective salesperson. It covers topics like direct and indirect selling activities, the sales process for indoor and outdoor selling, different types of discounts and pricing policies, and important personal qualities for salespeople like being goal-oriented, inquisitive, tenacious, self-aware, assertive, and empathetic. Effective salespeople need both strong empathy skills to understand customers and an ego drive to personally want to make the sale.
Garments and Textiles industry for top class clothes fabrics of fashion industry
Clothes fabrics and related blog headings or keywords
on April 06, 2022
(All pages)
Home page
Clothes fabrics and related blog headings or keywords
All your Needs ! Just visit and find what you want to get ....
Needs of Life to get in just one click !
What are the consumers of garments and textiles?
What are the most famous clothing designs and trending fabrics ?
What are the garments and textiles industry related business ?
What are the sources of clothes fabrics and related accessories ?
Home page
(All pages)
Location: NORTH CAROLINA, USA
What are the consumers of garments and textiles ?
on May 29, 2022
What are the consumers of garments and textiles.. ?
*2.(1).Customer for cloths & fabrics: (Top of current page)
In this sector customer depends on product. There have huge no. of products for so many perspective. What you are going to sell it will direct the customer type. There have end user with different age & culture, industrial user based on sector, retailer based on fashion types and so more.
Retail customer: You are selling your finished products to a person or a end user in limited range is your retail customer.
Corporate customer: If you are getting huge qty. order from a company or entrepreneur is your corporate customer as like you are selling raw goods.
The Many Faces of Consumers of Garments and Textiles.. There are many people all over the world who consume garments and textiles on a daily basis. This includes everything from pajamas to work uniforms to formal dresses and much more. The following list of consumers will show you just how many people consume garments and textiles every day in their lives!
Retail buyers
Customers who buy clothes in stores at malls, outlet centers, and factory outlets. Retail buyers tend to be categorized by their area of expertise (clothing buyers are experts on clothing) or what category they cover (the toy buyer is an expert on toys). If you’re a new designer looking to score retail placement for your clothing line, contact one or more buyers—there’s almost always a Buyer Contact link or email address somewhere on a retailer website.
End users
The end user is typically a consumer, but not always. End users often represent specific industries or businesses that buy in bulk to meet their own needs. For example, a retail store may use textiles to create their clothing items. In another instance, an automotive company may use upholstery fabric for car seats.
E-commerce involves the exchange of goods and services using electronic means like the internet. It requires a product, a website to display and sell the product, marketing to drive traffic to the site, an ordering system to accept orders, a payment system like credit cards, fulfillment to ship products, support for returns and issues. The main product categories sold online include computers, books, music, financial services, and more. E-commerce provides advantages like access to worldwide markets but also challenges like no personal contact and costs of infrastructure. Setting up an online store requires elements like promotion, an online catalog, purchase and payment systems, delivery, and customer support.
This document discusses various concepts related to consumer behaviour. It defines consumer behaviour as activities involved in evaluating, acquiring, using, and disposing of products and services. It discusses different types of problem solving approaches consumers may take - extensive problem solving when unfamiliar with a product category, limited problem solving when familiar with a category but not brands, and routinized problem solving for routine purchases. The document also outlines factors that influence consumer behaviour like involvement, reference groups, personality and lifestyle. It compares traditional marketing concepts with value-focused marketing and discusses roles in consumer decision making.
understanding the buyer before selling.pptxGuhan S
The document discusses understanding buyers before selling. It defines the buyer's journey as having 3 stages - awareness, consideration, and decision. It explains each stage from the buyer's perspective. It also discusses who buyers are, buyer behavior types including complex, variety seeking, habitual, and dissonance behavior. Methods for understanding buyers like knowing their needs, demographics, purchase behaviors are presented. Buyer behavior analysis techniques including using software and customer reviews are also summarized.
Purchase and Sale
CHAPTER 12 BUSINESS STUDIES NIOS X
• Concept of Purchasing and Selling
• Modes of Payment: Cash Payment, Deferred Installment Plan, Payment at the end of Credit Period.
The document discusses e-commerce versus traditional marketing. E-commerce refers to buying and selling goods online without paper documents. Consumers can browse products online, add them to a shopping cart, and purchase them. Payment methods for e-commerce include credit cards, net banking, wire transfers, cash on delivery, and checks. Benefits of e-commerce include more product choices, cheaper prices through comparisons, direct contact with customers, ability to shop anywhere and anytime. Risks include not everyone having internet access and potential for credit card theft. Traditional marketing involves directly meeting customers through advertising, sales, distribution and other activities. Benefits are ability to see tangible products and try them before purchasing. Drawbacks include time spent finding parking
This document discusses different types of buying decision behaviors and business buying behaviors. It outlines four types of consumer buying decision behaviors: complex buying behavior, dissonance reducing buying behavior, habitual buying behavior, and variety seeking buying behavior. It also discusses key aspects of organizational or business buying behavior, including that decisions often involve multiple participants and are influenced by various marketing and non-marketing factors. The document contrasts business and consumer markets in terms of how decisions are made, the presence of experienced purchasers, time needed to make decisions, size of purchases, number of buyers, and type of promotional efforts needed. It also outlines three types of business purchase decisions: straight re-purchases, modified re-purchases, and new task purchases
Rich content with cases and relevant examples on introduction to marketing, excellent resource for BBA, BCom,MBA, and EMBA
Location: for the students professionals, analysts, in India, Gulf, and worldwide
This document discusses channels of distribution and the roles of wholesalers and retailers. It begins by explaining that study materials from the National Institute of Open Schooling reach students either through their local study centers or booksellers. Similarly, most goods and services pass through various intermediaries from producers to consumers.
It then defines channels of distribution as the route by which goods move from producers to ultimate consumers. Common channels include direct channels from producer to consumer, or indirect channels involving various intermediaries like agents, wholesalers and retailers. Wholesalers buy large quantities from producers and sell smaller amounts to retailers, while retailers sell directly to consumers. Together, wholesalers and retailers facilitate the flow of goods through storage, financing
The document provides an introduction to marketing including:
1. Marketing involves identifying and meeting customer needs through the planning and execution of product, pricing, promotion, and distribution strategies.
2. The objectives of marketing are to satisfy customer demands while providing value and quality.
3. Exchanges between buyers and sellers create value when both parties are better off, and a transaction occurs when terms are agreed upon.
4. Marketers must understand customer needs at both stated and unstated levels to ensure satisfaction.
The document discusses the importance of salespeople having factual knowledge about their company, products, competition, and policies. It states that knowledge gives salespeople confidence and helps them gain customers' trust by enabling them to answer questions as experts. Successful sales require understanding customer needs and having enough information about related products and services to satisfy demanding buyers.
The document provides information on value propositions, unique selling propositions, target markets, customer requirements, and market size for entrepreneurs. It defines a value proposition as a statement that summarizes why a consumer should buy a product or service. An example is given of a sari-sari store that proposes operating 24/7 to meet customer needs. Unique selling propositions refer to how products or services are marketed to address customer wants. The document also outlines methods to segment target markets and defines customer requirements as the characteristics customers need from products and services, including both tangible and intangible aspects. Market size refers to the number of potential buyers and sellers in a given area that a business can target.
The document provides information on value propositions, unique selling propositions, target markets, customer requirements, and market size for entrepreneurs. It defines a value proposition as a statement that summarizes why a consumer should buy a product or service. An example is given of a sari-sari store that proposes operating 24/7 to meet customer needs. Unique selling propositions refer to how products or services are marketed to address customer wants. The document also outlines methods to segment target markets and defines customer requirements as the characteristics customers need from products and services, including both tangible and intangible aspects. Market size refers to the number of potential buyers and sellers in a given area that a business can target.
This document discusses organizations and the world of organizations from a psychological perspective. It begins by defining an organization as a social unit created for a specific purpose. It views organizations as open systems that take inputs from the environment, transform them, and provide outputs. Key subsystems of organizations include goals, technical, managerial, and structural.
It also discusses organizational climate, defined as the atmosphere or quality of an internal work environment. Determinants of climate include organizational structure, technology, external environment, and management policies. Interpersonal relationships at work, including between supervisors and subordinates and among coworkers, are also examined. The importance of communication and factors influencing individual productivity and organizational excellence are outlined.
1. Indian culture spread abroad through various means, including traders, teachers, scholars, missionaries and monks who traveled along trade routes like the Silk Road. They introduced Indian religion, philosophy, art, language and other aspects of culture to places in Central Asia, East Asia, Southeast Asia, and the Middle East.
2. Major universities like Nalanda and Vikramashila played an important role in spreading Indian culture abroad by attracting large numbers of foreign students and scholars. Eminent Indian teachers and scholars like Kumarajiva went abroad and translated Indian texts, establishing Buddhism in countries like China.
3. Indian cultural influence is seen in many regions through remnants like temples, sculptures and manuscripts. Places like K
The document discusses several major socio-cultural issues facing contemporary Indian society, including:
1) Casteism, as the caste system has historically led to discrimination and hampered social mobility, though government legislation and social reforms have helped improve the situation.
2) Issues related to women such as gender discrimination, dowry system, and declining child sex ratio showing discrimination against girls.
3) Substance abuse problems like drinking, smoking, and drug addiction, especially among youth, which have serious health and social consequences.
4) Communalism, where tensions between religious communities have led to violence and riots, challenging unity and progress.
5) Issues related to the elderly as joint families
Social psychological processes group and leadershipsindianeducation
This document discusses groups and leadership. It begins by explaining the importance of groups in our lives and how we are born into groups like our family. It describes the key characteristics of a group, including members having a shared identity and engaging in frequent interaction. It then discusses various aspects of group dynamics, including cohesiveness, conformity, and the differences between in-groups and out-groups. The document also examines the impact of groups on performance, through concepts like social facilitation and social loafing. It distinguishes between formal and informal groups and describes the typical stages of group development. Finally, it discusses the importance of leadership and some key qualities of effective leaders.
This document discusses communication and provides information on various aspects of communication including the definition of communication, types of communication (verbal and non-verbal), elements of the communication process, effective communication, non-verbal communication in the Indian context, and the role and impact of mass media. It defines communication as a process of interaction that allows the transmission of information, ideas, and attitudes between individuals. It notes that non-verbal communication accounts for over 70% of communication. Effective communication requires common understanding between parties, content of mutual interest, and consideration of cultural and social factors.
This document discusses social and educational problems in India. It begins by defining social problems as situations where community goals are not achieved due to difficulties in the system. People face issues like harassment, lack of good education, discrimination, and poverty. Educational problems refer to school dropout, stagnation, and wastage.
The document then focuses on analyzing the psychological aspects of some key social problems - poverty, drug addiction, and dowry. It explains the causes and consequences of poverty, like malnutrition, poor socialization patterns, effects on personality development and mental health. For drug addiction, it discusses risk factors like peer pressure, genetics, and maturity. It notes dowry was originally to help with marriage expenses but now burdens families.
The document provides information about sensory processes including attention and perception. It discusses the five basic senses of sight, hearing, touch, smell, and taste, and the sense organs associated with each. It describes how sensation is the initial detection of sensory stimuli, while perception involves further interpretation and recognition based on past experiences. The key stages of perception identified are sensation, analysis of parts, perceptual synthesis, organization, assigning meaning and identification. Factors influencing attention like physical attributes of stimuli, motives, and expectations are also outlined.
This document discusses how yoga contributes to self-development. It begins by explaining how one's sense of self changes throughout different life stages from infancy to old age. It then discusses how yoga can play an important role in self-development by nurturing the body, mind, vital force and intellect through practices like asanas, pranayama and meditation. This enhances qualities like self-esteem, confidence and respect. The document also explores how yoga is relevant in different walks of life like studies, relationships, work and health. It shapes attitudes, thinking and behavior by training the body, mind and intellect. Yoga teaches excellence in action by motivating one to strive hard with a lofty goal and singleness of purpose
1. Ancient Indian scientists made many significant contributions to mathematics, astronomy, medical science, and other fields.
2. Figures like Baudhayan, Aryabhatta, Brahmagupta, Bhaskaracharya, Kanad, Varahamihira, Nagarjuna, Susruta, and Charak advanced knowledge in areas like calculus, astronomy, algebra, medicine, and more.
3. Their work in mathematics and science laid the foundation for modern work but was not fully recognized due to lack of documentation and later domination by Western thinkers. However, many concepts like zero, place value system, and quadratic equations can be traced back to ancient Indian scholars.
Indian culture has a rich legacy of scientific ideas dating back to ancient times. In ancient India, various fields of science like mathematics, astronomy, medicine, and metallurgy made progress. Key developments included Aryabhata's work in astronomy which established it on scientific principles instead of religious beliefs, the development of the decimal number system and discovery of zero in mathematics, and the works of Charaka and Sushruta in medicine which discussed plants, surgery and over 700 medical plants. During the medieval period, science continued along traditions from earlier times while also adopting new influences from Islamic and European contacts through institutions like madrasas.
Mathematics, astronomy, medicine, agriculture, and other sciences developed during the medieval period in India under both traditional indigenous and new Islamic influences.
Key developments included the establishment of madrasas and maktabs that taught subjects like arithmetic, mensuration, geometry, astronomy, and accountancy. Several important works were produced in mathematics, including treatises on trigonometric functions by scholars like Narayana Pandit, Gangadhara, and Nilakantha Somasutvan. Astronomy flourished with commentaries on established notions and the development of new instruments. Traditional Ayurveda and new Unani systems of medicine were both practiced. Agriculture continued with the introduction of new crops from foreign traders.
The document discusses religious reform movements in modern India that arose in response to rigid and inhumane practices in Indian society in the early 19th century. It highlights key figures like Raja Ram Mohan Roy who founded the Brahmo Samaj movement to reject idol worship and rituals. Ishwar Chandra Vidyasagar worked to promote women's rights and education. The Prarthana Samaj in Bombay promoted rational worship and social reforms like inter-caste marriage. The Arya Samaj, founded by Swami Dayanand Saraswati, also aimed to reform Hindu practices and promote women's rights based on a strict interpretation of the Vedas. These religious reform movements addressed social issues
The document provides background information on the rise of Sufism and the Bhakti movement in medieval India. It discusses how the Sufi movement brought a new form of liberal religious expression within Islam that emphasized equality and universal love. Sufis formed mystical orders called silsilahs and used local languages to spread their message. The Bhakti movement similarly transformed Hinduism by introducing devotion and rejecting the caste system. The Sufi and Bhakti saints played an important role in promoting religious harmony between Muslims and Hindus in India.
This document provides an overview of religion and philosophy in ancient India. It discusses the development of religions from pre-Vedic times through the Vedic period, including the beliefs of early groups and the evolving ideas in Vedic texts. Major systems that developed include orthodox schools like the six systems of Vedic philosophy (including Samkhya and Yoga schools), and unorthodox movements like Buddhism, Jainism, various theistic religions, and folk cults centered around deities. The relationship between religion and philosophy in ancient India is described as complementary, with philosophy providing vision and religion guiding practice to attain the highest truths and freedom.
This document provides information about preparing for a vocational role, including the meaning of career, vocation, and occupation. It discusses the need to properly plan and prepare for a vocation through general education and/or specialized training. Choosing a vocation requires understanding one's interests, aptitudes, and personality characteristics. The document outlines the steps to make a good career choice, including self-assessment, researching occupations, narrowing options, setting goals, and creating an action plan. It also notes some common myths about career choice and emphasizes the importance of counseling in making a wise decision.
The document provides information on performing arts in India, including music, dance, and drama. It discusses how these art forms have been an integral part of Indian culture since ancient times, initially used for religious propagation and social reforms. It describes the two main classical music traditions of Hindustani music in North India and Carnatic music in South India. Key texts that discuss music include the Natyashastra, Brihaddesi, and Sangeet Ratnakara. The document also outlines the patronage of music by ancient and medieval rulers like the Mughals and the contributions of saints and poets in popularizing religious music.
Development is a lifelong process of qualitative changes from conception to death across physical, cognitive, and socio-emotional domains. It is influenced by both genetic/biological factors as well as environmental factors. While development progresses in general stages, there is variability between individuals. The document discusses several key concepts regarding development, including defining development, distinguishing it from related terms, outlining domains and stages of development, and characteristics of the developmental process.
This document discusses mental health and hygiene. It begins by defining mental health as an optimum level of emotional and behavioral adjustment. Mental hygiene is related to developing and maintaining behaviors and skills to sustain good mental health. The document outlines some behaviors that indicate poor mental health, such as irritability and withdrawal, and behaviors that promote good health, including proper nutrition, exercise, and positive thinking. It also discusses strategies for effective time management like prioritizing tasks and having a flexible schedule.
This document discusses mental disorders and their treatment. It begins by describing behaviors that seem unusual like checking a bag frequently or having increased anxiety before an exam, and notes that these could be signs of mental disorders. Mental disorders develop gradually due to factors like heredity, personality, stress tolerance, childhood experiences, and an inability to cope with stressors. The document then discusses the nature of stress and conflicts/frustrations as sources of disturbed mental health. It provides examples of different types of stressors, conflicts, and frustrations people may experience. Finally, it notes that people generally use problem-focused or emotion-focused coping strategies to deal with stressors, but that sometimes leads to mental disorders if coping is ineffective.
The document discusses developments in religion, folk art, and language in medieval India. It notes that new religious movements like Sufism, Sikhism, and the Bhakti movement contributed to India's composite culture during this time. Islam influenced many aspects of Indian culture, as seen through famous monuments representing Indo-Islamic culture. Regional folk arts and languages also evolved significantly during this period.
How to Add Chatter in the odoo 17 ERP ModuleCeline George
In Odoo, the chatter is like a chat tool that helps you work together on records. You can leave notes and track things, making it easier to talk with your team and partners. Inside chatter, all communication history, activity, and changes will be displayed.
Executive Directors Chat Leveraging AI for Diversity, Equity, and InclusionTechSoup
Let’s explore the intersection of technology and equity in the final session of our DEI series. Discover how AI tools, like ChatGPT, can be used to support and enhance your nonprofit's DEI initiatives. Participants will gain insights into practical AI applications and get tips for leveraging technology to advance their DEI goals.
A workshop hosted by the South African Journal of Science aimed at postgraduate students and early career researchers with little or no experience in writing and publishing journal articles.
A review of the growth of the Israel Genealogy Research Association Database Collection for the last 12 months. Our collection is now passed the 3 million mark and still growing. See which archives have contributed the most. See the different types of records we have, and which years have had records added. You can also see what we have for the future.
it describes the bony anatomy including the femoral head , acetabulum, labrum . also discusses the capsule , ligaments . muscle that act on the hip joint and the range of motion are outlined. factors affecting hip joint stability and weight transmission through the joint are summarized.
A Strategic Approach: GenAI in EducationPeter Windle
Artificial Intelligence (AI) technologies such as Generative AI, Image Generators and Large Language Models have had a dramatic impact on teaching, learning and assessment over the past 18 months. The most immediate threat AI posed was to Academic Integrity with Higher Education Institutes (HEIs) focusing their efforts on combating the use of GenAI in assessment. Guidelines were developed for staff and students, policies put in place too. Innovative educators have forged paths in the use of Generative AI for teaching, learning and assessments leading to pockets of transformation springing up across HEIs, often with little or no top-down guidance, support or direction.
This Gasta posits a strategic approach to integrating AI into HEIs to prepare staff, students and the curriculum for an evolving world and workplace. We will highlight the advantages of working with these technologies beyond the realm of teaching, learning and assessment by considering prompt engineering skills, industry impact, curriculum changes, and the need for staff upskilling. In contrast, not engaging strategically with Generative AI poses risks, including falling behind peers, missed opportunities and failing to ensure our graduates remain employable. The rapid evolution of AI technologies necessitates a proactive and strategic approach if we are to remain relevant.
Strategies for Effective Upskilling is a presentation by Chinwendu Peace in a Your Skill Boost Masterclass organisation by the Excellence Foundation for South Sudan on 08th and 09th June 2024 from 1 PM to 3 PM on each day.
Thinking of getting a dog? Be aware that breeds like Pit Bulls, Rottweilers, and German Shepherds can be loyal and dangerous. Proper training and socialization are crucial to preventing aggressive behaviors. Ensure safety by understanding their needs and always supervising interactions. Stay safe, and enjoy your furry friends!
How to Fix the Import Error in the Odoo 17Celine George
An import error occurs when a program fails to import a module or library, disrupting its execution. In languages like Python, this issue arises when the specified module cannot be found or accessed, hindering the program's functionality. Resolving import errors is crucial for maintaining smooth software operation and uninterrupted development processes.
1. BUSINESS STUDIES180
Notes
PURCHASE AND SALE
In your day-to-day life you require several things to satisfy your needs and
wants. For example, you want milk, bread, etc. for your breakfast; clothes ,
cycle , medicines etc. How do you get all these things? These are all available
in the market for sale and you can purchase them as and when you need them.
Similarly, in business, all business enterprises are engaged in purchasing things
like raw materials, machinery, etc. for production; land, building, furniture,
stationery, computer etc. for office premises; and so on. Business enterprises
are also engaged in selling the goods and services they produce. Thus, we find
that purchase and sale are two essential activities that take place around us.
Let us learn more about these in this lesson.
After studying this lesson you will be able to
• define purchase and sale;
• explain the concept of ‘selling’ in business;
• describe various modes of purchase and methods of sale; and
• explain the selling procedure and the documents used in sales.
12.1 MEANING OF PURCHASE AND SALE
Purchase is a process through which a person gets the ownership of some goods or
properties transferred in his name from another,
onpaymentofmoney. Similarly,saleisaprocess
through which the ownership of some goods or
propertiesistransferredfrom oneperson(seller)
to another person (buyer), for a price.
Thus, sale and purchase always go together.
Whenever there is a sale, there is also a
purchase and vice versa. So, basically in every sale and purchase there exist
two parties. The first party who sells is known as the ‘seller’, and the other
party who buys is known as the ‘buyer’.
12
OBJECTIVES
MODULE - IV
Buying, Selling and
Distribution
Purchase & Sale
2. Notes
BUSINESS STUDIES 181
Let us take an example. Ramesh is a shopkeeper in your locality. He goes to
the city and buys ready-made garments from the
wholesalers on payment of money. Here the wholesalers
are the sellers and Ramesh is the buyer. After Ramesh
brings the readymade garments to his shop, you go to his
shop and buy a shirt for yourself paying Ramesh its price.
Here you are the buyer and Ramesh is the seller.
Thus, we find that in every sale and purchase the buyer
pays money to the seller for buying goods or services for
his use or consumption and the seller accepts money and thereby gives up his
right over those goods and services. In this process the buyer either pays money
immediately or at a later date.
Concept of Purchasing And Selling
You know that, businessmen produce goods or services for others’use. People
buy those goods and services for a price and thus, the businessmen earn money
from them. This money needs to be more than the amount spent in producing
the goods and services. That is how a business can earn profit. Profit is the
reward for risk-taking by businessmen and it is also the return on capital invested
by them. So it is required that the goods and services produced by business
enterprises must be sold. Sale of goods is thus necessary for the very existence
of business and its growth over time. Buyer needs to consider following before
purchase (i) Identify his /her needs (ii) Attributes of the commodity/ service
(iii) Price affordability (iv) Social and cultural aspects.
In order to sell goods and services something more needs to be done before
production is undertaken.
a. It is important to identify and determine the requirement of the people
and design the product or service accordingly.
b. The customers must always derive satisfaction from what they buy and
therefore continuous improvement of the product or service is required.
c. It must be ensured that the product or service is easily available to the
customers.
d. The price of the product or service should be such that the customers
can afford it.
e. The customers should be made aware about the product or service and
its related benefits both before and after sale.
All the above activities taken together are called the marketing functions of
any organisation. Selling as a function is different from the marketing function,
although it is a part of the marketing function.
MODULE - IV
Buying, Selling and
Distribution
Purchase & Sale
3. BUSINESS STUDIES182
Notes
Fill in the blanks with appropriate words chosen from those given within
brackets:
(i) Sale and ____________ always go together. (market, purchase, a shop)
(ii) In every sale and purchase, the ________________ pays money to the
seller. (shopkeeper, buyer producer)
(iii) Businessmen earn _______ because people buy goods and services for
a price. (profit, money, surplus)
(iv) Offering goods at a price which customers can afford to pay is a part of
_______ function. (selling, marketing, distributing)
(v) All activities directed towards the flow of goods and services from the
producer to the consumer are part of ____. (distribution, transportation,
selling)
12.2 PURCHASE AND SALE ON CASH AND CREDIT
BASIS
Purchase and sale can be on cash or credit basis. If the buyer pays the price
immediately while taking delivery of goods it is known as cash purchase. If
the buyer is unable to make payment while taking delivery of goods and requests
the seller to give him some time for payment say 15 days or 30 days and seller
accepts the same this is known as credit purchase.
In today’s competitive environment seller cannot afford to stick to cash sales
only. While selling goods on credit the seller should ensure the creditability
and the paying capacity of the buyer.
12.3 MODES OF PURCHASE
After having some idea about purchasing and selling, let us learn about the
different modes that may be adopted while purchasing goods. Goods may be
purchased either by inspecting them personally or on the basis of sample or
pattern examined or on the basis of description or brand name of a product.
Let us learn more about these modes:
(i) Purchase by inspection: Suppose you want to buy a shirt or a pen or
some vegetables. Now what do you do? You will possibly go to the
nearest shop and check by yourself the shirt or pen or vegetables before
buying them. This is the most common method of buying known as
purchasing by inspection where the buyer goes to the seller and inspects
the goods or a whole lot of goods planned to be purchased. It is mostly
used in case of retail buying.
INTEXT QUESTIONS 12.1
MODULE - IV
Buying, Selling and
Distribution
Purchase & Sale
4. Notes
BUSINESS STUDIES 183
(ii) Purchase by sample/ pattern: When you want to buy goods in bulk,
it is not possible to inspect the whole lot to be purchased. What you
do is look at the sample or pattern and then decide which one to buy.
A sample is a specimen of goods, particularly of raw materials,
foodstuffs, etc. It is a representative of the bulk. Its quality largely
reflects the quality of the whole lot. Similarly, pattern is a specimen
of standard manufactured goods such as cloth, coir mattresses, etc. It
reveals the shade, texture etc. and sometimes bears a code number.
The code number can be quoted while placing orders for purchase. It
is agreed upon by both the parties that the bulk supply shall be of the
same quality as the sample/ pattern shown.
(iii) Purchase by description or brand: In certain cases it is not possible
for a seller to even show a sample to the prospective buyer. For example,
a manufacturer of furniture cannot move around showing samples to
the intending buyers. So, what he does instead, he carries a catalogue
and price list that contains the description of goods offered for sale.
Sometimes goods are standard products having specific quality and
price etc. They are often given a number or a name. Sometimes the
names become quite popular as brands, like Godrej Storewell, Surf,
Dhara, Lifebouy, Fevicol, Pepsodent, etc. Here the buyer just needs to
mention the brand name or the product described while giving the order.
12.4 METHODS OF SALE
Before buying anything, we are not always sure about how they can be actually
obtained and paid for. If we go to a shop dealing with electrical goods the
shopkeeper normally expects that we shall pay cash for the item we select. If
the item is somewhat expensive, the buyer may not be able to afford the price
immediately. The seller may allow that a small amount be paid initially and
the balance be paid in monthly instalments. Again, you may come across
banners on the road side that furniture will be sold by auction on a particular
Sunday. You may attend the auction to bid for the chosen item. Sometimes you
may have read notices of the State Government inviting tenders/quotations
from businessmen for supply of certain items. These are all methods of sale.
We shall now discuss these methods in detail.
i. Hire Purchase basis: Sale on hire-purchase basis provides for payment
of purchase price in instalments. However, the goods are regarded as
being on hire until all instalments are paid. In other words, even though
the goods are delivered to the buyer, the ownership right remains with
the seller, and the amount that the customer pays is treated as payment
for hiring the goods. If the customer fails to pay any instalment, the
MODULE - IV
Buying, Selling and
Distribution
Purchase & Sale
5. BUSINESS STUDIES184
Notes
seller can ask for the goods to be returned and also sue the defaulting
buyer for damages. It may be noted that the customer has the right to
purchase the goods by paying the total remaining amount at any stage
of the instalment period. This type of sale is used in case of durable
and expensive items like car, motorcycle, TV ,Machinery etc.
ii. Sale through Instalment Payment System : When goods are sold
and payment is agreed to be made in instalments, it is known as deferred
instalment plan of sale. In this case, if there is default in the payment of
any instalment by the buyer, the seller cannot ask for the goods to be
returned as the ownership rights pass to the buyer when goods are sold
and initial payment is made. The seller can only sue the buyer in a
court of law for payment of the balance due.
iii. Sale on approval basis :Asale on approval is basically a conditional sale.
In this type of sale, goods are delivered to the buyer on payment with the
understanding that the buyer can return the goods (the whole lot or even a
part of it) to the seller and claim refund within a specified period, if the
goods do not meet his requirements. If the buyer does not communicate
withinthegiventimethenitisassumedthatthegoodsaresold.Sometimes
this method of sale is practised with a variation. Goods are delivered to the
buyer ‘on approval’ with the understanding that he may remit the price
signifying approval or return the goods without any obligation.
iv. Sale through tender : This method of sale is normally found in the case
of purchases made by big organisations or government agencies where the
quantityofgoodsrequiredandtheamountinvolvedareverylarge.Atender
is an undertaking to supply materials/goods indicating the terms and
conditionsofsaletherein.Thismethodofsaleinvolvesresponsestotenders
invited by intending purchasers with a view to selecting the supplier who
offers the most competitive and
favourableterms.Theadvertisement
or notice inviting tenders are usually
publishedinoneormorenewspapers
and contains details regarding the
goods to be purchased. Particulars
and forms for submitting tenders are
sometimes made available to the
interested parties on applying in
response to the advertisement.Tenderers are usually required to deposit an
earnest money along with the tender. This ensures the seriousness of the
interestedparties.Thegeneralpracticeistoreceivetendersinsealedcovers
so that the terms and conditions offered by the parties remain secret and
MODULE - IV
Buying, Selling and
Distribution
Purchase & Sale
6. Notes
BUSINESS STUDIES 185
are not tampered with. The sealed covers are opened in the presence of
proper authorities and the most favourable tender is accepted. Thereafter,
a formal contract for sale is entered into with the tenderer whose tender in
acceptable, on the basis of the terms offered.
v. Auction sale :An auction sale refers to the sale of certain goods openly on
a specific date and time so that people may bid for the goods. The goods
are sold to the highest bidder. In
auction sale, the goods are
displayed and there is a reserve
price below which goods are not
to be sold. This reserve price is
fixed by the seller, which may be
made known to the public or kept
secret. Sometimes there is also an
upsetpricefromwhichthebidding
starts.Thismayalsoberegardedastheminimumpricebelowwhichgoods
are not to be sold. A bid by an intending purchaser is considered an offer
and if it is the highest bid, it is accepted. Once accepted, the bidder cannot
go back and must pay the price and purchase it. However, the seller has the
liberty not to sell even at the highest bid. Now a days, auction sales are
done more commonly through the internet.
vi. Wash sales : You might have seen advertisements mentioning ‘Grand
Clearance Sale – Discounts up to 70%’ or ‘Summer Sale’ or ‘Annual
Sale’ etc. These sales are generally conducted to clear surplus or old
stocks. Some sellers periodically arrange such sales to dispose off stock.
Mostly these sellers offer heavy discount.
Difference between defereed instalment method and hire-purchase method
Deferred Instalment Method Hire-Purchase Method
1. It is essentially a contract for sale. 1. It is essentially a contract for hiring of
goods.
2. The ownership rights passes to the 2. The ownership rights remain with the
buyer immediately at the time when seller and the customer exercises his
the agreement is entered into. option for purchasing the goods.
3. The buyer can return the goods at any 3. In case of default in payment the seller
stage. The seller can also take back can sue the buyer for balance
the goods in case of non-payment. instalments.
He cannot take back possession of the
goods. Similarly, the buyer cannot
return the good and adjust the amount
of payment due.
MODULE - IV
Buying, Selling and
Distribution
Purchase & Sale
7. BUSINESS STUDIES186
Notes
Which of the following statements are true and which are false?
(i) In auction sale, goods are always sold to the highest bidder even when
there is a reserve price.
(ii) Sale on hire-purchase permits the buyer to return the goods at any stage.
(iii) Goods delivered to the buyer ‘on approval’ basis are always paid for in
advance.
(iv) Earnest money payable by tenderers ensures their seriousness about
the tender.
(v) Wash sales refer to sale of goods at a discount just after rainy reason.
12.5 MODES OF PAYMENT
When there is a sale, the buyer makes an offer to purchase goods for a price
and the seller accepts the offer; or the seller makes an offer to sell goods for a
price and the buyer accepts the offer. Now the payment for the goods may be
immediate or deferred. Deferred payment can be instalment payment or full
payment at the end of the agreed credit period.
(i) Immediate payment : In case of immediate payment, the buyer makes
full payment to the seller in cash. Of course he can make payment by
cheque or draft or credit card or debit card, provided the seller agrees
to it. Actually a seller is not bound to accept payment by cheque unless
there is an express or implied agreement to that effect. This is the normal
practice in retail buying and selling that involves small payment. For
example, sale of goods for daily use like grocery, vegetables, readymade
garments, low priced consumer durable goods, etc. are made on
immediate cash payment.
(ii) Deferred Instalment plan : Mostly known as ‘buy now – pay later’
plan, under this method the buyer pays a nominal amount to the seller
at the time of purchase and takes possession of the goods. The balance
is paid by him in instalments over a period of time. The instalment is a
fixed amount payable monthly or quarterly to the seller and the total
payment is equal to the unpaid amount and the interest charged on it.
The interest charged on the unpaid amount normally reduces with
payment of instalments. Sometimes, the seller can offer interest free
instalments. If the buyer fails to pay any instalment, the seller can sue
him for the unpaid amount. Let us take an example. Vinod went to the
local shop to buy a colour television. The price of the TV set was Rs.
20,000/-. Under the deferred instalment plan he was required to pay 10
INTEXT QUESTIONS 12.2
MODULE - IV
Buying, Selling and
Distribution
Purchase & Sale
8. Notes
BUSINESS STUDIES 187
per cent of the total price initially and then pay the rest through 10
interest free monthly instalments. Thus, he had to pay Rs. 2000/- and
take the television for use. He was to pay the rest at Rs 1800/- per
month for ten months. If Vinod fails to pay instalments, then the seller
can sue him in court to recover the unpaid amount. This method of sale
is usually found in the case of goods which are less durable and have
more chances of wear and tear.
(iii) Deferred payment at the end of credit period : When goods are sold
on credit, payment is required to be made by the buyer at the end of the
agreed period of credit (say) three months. If payment is made by him
earlier, the seller allows a special discount which is indicated in the
invoice as the net amount payable on prompt payment before due ate.
12.6 SELLING PROCEDURE
In the market, normally we move from one shop to another, enquire about the
prices, compare the quality of goods and finally decide to buy the goods of our
choice. But it is not so easy to buy from those producers and traders whose
production centres or trade centres are situated at far off places. A procedure
has to be adopted by the buyer as well as the seller and the transaction passes
through various stages before it is finally concluded. In this section we shall
study about the various stages involved in the process of buying and selling of
goods within the geographical boundaries of a country. The knowledge about
the procedure may be helpful to you as a consumer as well as a trader.
The usual procedure for selling goods, known as Selling Routine, involves the
following steps :
(i) Enquiry from the intending buyer : The process of sale starts with
an inquiry by the intending buyer from the best available seller in terms
of supply, price and quality of goods. This enquiry can be made from
the secondary sources like advertisements, in newspapers, market
reports, catalogues, price lists, etc. However, an enquiry normally refers
to collecting information directly from the seller or the manufacturer
so as to decide the best source of supply. Big business houses where
regular purchases are made have printed enquiry forms.
(ii) Providing quotation to the intending buyers : On receipt of an enquiry
from the prospective buyer, the seller provides the required information
known as quotation. The terms and conditions of sale as well as the
price mentioned in the quotation from the seller’s side are open for
further negotiation. Sellers also use printed quotation forms.
(iii) Receipt of order from the buyer : When the prospective buyer is
satisfied with the terms and conditions of sale mentioned in the
MODULE - IV
Buying, Selling and
Distribution
Purchase & Sale
9. BUSINESS STUDIES188
Notes
quotation, he issues a formal order to the seller for supply of goods.
Order forms are sometimes printed by the buyer.
(iv) Execution of the order : On receiving the order, the seller usually
acknowledges it and confirms its acceptance. If the order is executed at
oncethennoconfirmationisrequired.Theorderisthenstampedwithdate
ofreceipt,assignedareferencenumberandenteredintotheOrderReceived
Register.Iftheorderisfromanewcustomerthenthesellermayverifythe
creditworthinessand/orfinancialstatusofthebuyer.Ifthesellerissatisfied
with the creditworthiness of the buyer, he decides to sell him the goods.
Otherwise the seller sends him a letter of regret, stating his inability to
accept the order. If the goods ordered are not in stock, the date of delivery
is fixed keeping in view the production time. A copy of the order is then
sent to the production department with the date of delivery.
(v) Invoicing : An invoice contains details of the transaction and the amount
to be received by the seller from the buyer. The seller sends the invoice
along with the supply of goods to the buyer. A copy of the invoice is
also retained by the seller. A copy each is sent to the production
department or godown and the accounts department.
(vi) Opening Customer’sAccount : When the copy of invoice is received
by the accounts department, an account is opened in the ledger in the
name of the customer. This account keeps a record of the invoice price
of goods sold, credit allowed to the customers and payments made byhim.
If there already exists an account then necessary entries are made therein.
(vii) Dispatch of the goods : For release of the goods the godown or the
production department requires a copy of the invoice or a delivery note
from the accounts department, or both. Goods released are taken over by
the packaging department where there is a final check that all goods are
in accordance with the order. Then the goods are labelled and sent to the
dispatch section. When the goods are dispatched a copy of the dispatch
note is forwarded to the buyer. This note is also known as advice note or
letter of advice, which contains full description of the goods dispatched.
It also indicates how the buyer can take delivery of goods at his end. If
the goods are dispatched by rail or road transport, a copy of the receipt of
the transport authority is attached with the dispatch note.
(viii) Delivery of goods to the buyer : After receiving the railway receipt or
transport receipt from the seller, the buyer takes delivery of goods from
the railway or transport authority. While taking delivery the buyer or
his agent must check the goods thoroughly. If the goods are damaged,
he must inform the transport authority and a claim for the damage
seeking compensation should be made immediately.
MODULE - IV
Buying, Selling and
Distribution
Purchase & Sale
10. Notes
BUSINESS STUDIES 189
(ix) Receipt of payment and settlement of accounts: The last step in the
process is the receipt of the payment for goods sold. Payment is made
according to the conditions agreed upon earlier. In inland trade, payment
is generally made by means of money order, cheque, bank draft, bill of
exchange, promissory note, etc. In case of regular customers, all
outstanding dues are taken together and the customer is required to
pay at regular intervals rather than on transaction basis. If full payment
is received the account is said to be settled. Remittances received are
duly acknowledged and sometimes the sellers also issue periodic
statements of account. It shows the following items:
a. The date of sale
b. The amount of goods sold
c. Payment received from the buyer
d. Balance due from the buyer
Now you have fully understood that in the process of sale of goods
various steps are involved. This can be made more clear with the help
of a chart as given below.
(x) Rectification of errors : You have studied so far that the business
transaction begins with the buyer’s enquiry about the goods to be
purchased and completes when he finally settles his account with the
seller. Even though the seller is very careful while sending goods and
preparing invoice, there might be certain errors. These errors can be
rectified by preparing Credit note or Debit note . Let us know about
these two notes in detail.
Credit Note : A document, which informs the buyer that his account has been
credited with a particular amount.
Debit Note : A document, which informs the buyer that his account has been
debited with a particular amount.
I. Match the columns :
Column A Column B
i.Quotation (a) Buy now pay later plan
ii. Invoice (b) Satisfactorytermsandconditionsofsale
iii. Deferred Instalment Plan (c) Detail transaction with the buyer
iv. Deferred payment (d) Non-execution of order
v. Letter of Regret (e) Amount to be received by the seller
INTEXT QUESTIONS 12.3
MODULE - IV
Buying, Selling and
Distribution
Purchase & Sale
11. BUSINESS STUDIES190
Notes
II. Which of the following statements are ‘right’ and which are ‘wrong’?
(i) A customer’s account mainly keeps record of payments made
by the customer.
(ii) A ‘dispatch note’ is also known as ‘Letter of Advice’.
(iii) The buyer must make a claim for damages immediately from
the transport authority if he finds goods were damaged in transit.
(iv) A credit note is intended by the seller to rectify error of excess
credit given to the buyer.
(v) A debit note issued by the seller informs the buyer that his
account has been debited with a certain amount.
III. Multiple Choice Questions
i. When a person wants to buy goods in bulk, the best mode of
purchase for him will be.
(a) Purchase by Inspection
(b) Purchase by Sample
(c) Purchase by Description
(d) Purchase from the nearest retailers.
ii. Purchase means:
(a) Transfer of ownership of goods by a seller in favor of a buyer
(b)Physicalpossessionofgoodsbyapersonfromanotherperson
(c) Taking articles from a friend for use for some time period
(d) Taking goods/articles on rent/hire from the owner.
iii. Whichfactorshouldnotbeconsideredbyabuyerbeforepurchase?
(a) Identification of buyers used
(b) Attributes of the goods/commodity
(c) Price affordability
(d) Attributes of the Commodity possessed by the neighbour.
iv. Which of the following is not a method of sale?
(a) Sale on cash basis
(b) Sale on Hire Purchase basis
(c) Sale on Credit basis
(d) Sale under Installment system
v. Which of the following is not a step in the Selling Procedure?
(a) Enquiry by the intending buyer
(b) Receipt of order from the buyer
(c) Dispatch of goods to the buyer
(d) Preparation of Credit Note by the seller.
MODULE - IV
Buying, Selling and
Distribution
Purchase & Sale
12. Notes
BUSINESS STUDIES 191
Purchase is a process through which one person gets some goods or properties
transferred in his name from another, on payment of money. Sale is a process
through which some goods or properties are transferred from one person to
another for cash or on credit. Sale and purchase always go together.
Selling as a function of business includes all the activities directed towards
flow of goods and services from the producer to the consumer.
Goods may be purchased either by inspecting them personally or on the basis
of a sample or pattern examined or on the basis of description or brand name.
Methods of sale include sale on hire purchase basis, deferred instalment plan
of sale, sale on approval, sale through tenders, auction sale and wash sales.
Payment for purchase may be immediate, through deferred instalment plan or
in the form of deferred payment at the end of the credit period.
The selling routine involves enquiry, quotation, order, execution of order,
invoicing, opening customer’s account, dispatch and delivery, taking delivery
of goods and finally, settlement of account. Errors in sending goods or preparing
the invoice may be rectified through credit note and debit note.
1. What is meant by ‘purchase’?
2. State the activities involved in selling a product.
3. What is meant by ‘Auction Sale’?
4. Explain ‘deferred instalment plan’ as a mode of payment.
5. Describe how errors in sending goods and preparing invoice may be
rectified?
6. Differentiate between deferred instalment and hire purchase methods
of sale.
7. What are the various modes one may adopt to make payment for
purchase of a product? Explain.
8. Explain the procedure of sale through tenders.
9. Describe the different modes for purchase of a product.
10. Explain the various methods that may be adopted to sell a product.
11. State the procedure required to sell a product.
12. What steps are required after an order is executed, as part of the Routine
Selling?
WHAT YOU HAVE LEARNT
TERMINAL EXERCISE
MODULE - IV
Buying, Selling and
Distribution
Purchase & Sale
13. BUSINESS STUDIES192
Notes
12.1 (i) purchase, (ii)buyer, (iii) profit,
(iv) marketing , (v) selling
12.2 (i) False, (ii) True, (iii) False, (iv) True, (v) False
12.3 I. (i) b, (ii) c, (iii) (a), (iv) f, (v) d
II. (i) Worng, (ii) Right, (iii) Right, (iv) Wrong,
(v) Right.
III. (i) b, (ii) a, (iii) d (iv) b (v) d
ACTIVITIES FOR YOU
• Collect newspapers cuttings showing advertisements inviting tenders
and read the information carried in them.
• If any of your friend or family member is working in an office, find out
from them what procedure is adopted there to purchase items like office
furniture, stationery, computer, etc.
ANSWER TO INTEXT QUESTIONS
MODULE - IV
Buying, Selling and
Distribution
Purchase & Sale