Q2- The benefits of e-procurement are A. Cost reduction B. Quick delivery C. Longer time for strategic procurement D. Empathetic purchase Choose the correct answer from the options given below:
Q6➡| UGC NET November 2020, 24 sept shift 2 Comprehension: Read the passage carefully and answer the questions that follow In the narrowest sense, price is the amount of money charged for a product or a service. More broadly, price is the sum of all the values that customers give up to gain the benefits of having or using a product or service. Historically, price has been the major factor affecting buyer choice. In recent decades, however, nonprice factors have gained increasing importance. Even so, price remains one of the most important elements that determines a firm՚s market share and profitability. Price is the only element in the marketing mix that produces revenue; all other elements present costs. Price is also one of the most flexible marketing mix elements. Unlike product features and channel commitments, prices can be changed quickly. At the same time, pricing is the number one problem facing many marketing executives, and many companies do not handle pricing well. Some managers view pricing as a big headache, preferring instead to focus on other marketing mix elements. However, smart managers treat pricing as a key strategic tool for creating and capturing costumer value. Prices have a direct impact on a firm՚s bottom line. A small percentage improvement in price can generate a large percentage increase in profitability. More important, as part of a company՚s overall value proposition, price plays a key role in creating customer value and building customer relationships. ″ Instead of running away from pricing, says an expert, ″ savvy marketers are embracing it. ″ The price the company charges will fall somewhere between one that is too low to produce a profit and one that is too high to produce any demand. It summarizes the major considerations in setting price. Customer perceptions of the products value set the ceiling for prices. If customers perceive that the products price is greater that its value, they will not buy the product. Likewise, product costs set the floor for prices. If the company prices the product below its costs, the company՚s profits will suffer. In setting its price between those two extremes, the company must consider several external and internal factors, including competitor՚s strategies and prices, the overall marketing strategy and mix, and nature of the market and demand.
Q6➡Which of the following is the major determinant of pricing for product or service?
Q7➡| UGC NET November 2020, 24 sept shift 2 Comprehension: Read the passage carefully and answer the questions that follow In the narrowest sense, price is the amount of money charged for a product or a service. More broadly, price is the sum of all the values that customers give up to gain the benefits of having or using a product or service. Historically, price has been the major factor affecting buyer choice. In recent decades, however, nonprice factors have gained increasing importance. Even so, price remains one of the most important elements that determines a firm՚s market share and profitability. Price is the only element in the marketing mix that produces revenue; all other elements present costs. Price is also one of the most flexible marketing mix elements. Unlike product features and channel commitments, prices can be changed quickly. At the same time, pricing is the number one problem facing many marketing executives, and many companies do not handle pricing well. Some managers view pricing as a big headache, preferring instead to focus on other marketing mix elements. However, smart managers treat pricing as a key strategic tool for creating and capturing costumer value. Prices have a direct impact on a firm՚s bottom line. A small percentage improvement in price can generate a large percentage increase in profitability. More important, as part of a company՚s overall value proposition, price plays a key role in creating customer value and building customer relationships. ″ Instead of running away from pricing, says an expert, ″ savvy marketers are embracing it. ″ The price the company charges will fall somewhere between one that is too low to produce a profit and one that is too high to produce any demand. It summarizes the major considerations in setting price. Customer perceptions of the products value set the ceiling for prices. If customers perceive that the products price is greater that its value, they will not buy the product. Likewise, product costs set the floor for prices. If the company prices the product below its costs, the company՚s profits will suffer. In setting its price between those two extremes, the company must consider several external and internal factors, including competitor՚s strategies and prices, the overall marketing strategy and mix, and nature of the market and demand.
Q7➡What is the perception of smart managers regarding pricing?
i ➥ It is a strategic tool for consumer value
ii ➥ It invites issues
iii ➥It is better to focus on other elements in the marketing mix
Q8➡| UGC NET November 2020, 24 sept shift 2 Comprehension: Read the passage carefully and answer the questions that follow In the narrowest sense, price is the amount of money charged for a product or a service. More broadly, price is the sum of all the values that customers give up to gain the benefits of having or using a product or service. Historically, price has been the major factor affecting buyer choice. In recent decades, however, nonprice factors have gained increasing importance. Even so, price remains one of the most important elements that determines a firm՚s market share and profitability. Price is the only element in the marketing mix that produces revenue; all other elements present costs. Price is also one of the most flexible marketing mix elements. Unlike product features and channel commitments, prices can be changed quickly. At the same time, pricing is the number one problem facing many marketing executives, and many companies do not handle pricing well. Some managers view pricing as a big headache, preferring instead to focus on other marketing mix elements. However, smart managers treat pricing as a key strategic tool for creating and capturing costumer value. Prices have a direct impact on a firm՚s bottom line. A small percentage improvement in price can generate a large percentage increase in profitability. More important, as part of a company՚s overall value proposition, price plays a key role in creating customer value and building customer relationships. ″ Instead of running away from pricing, says an expert, ″ savvy marketers are embracing it. ″ The price the company charges will fall somewhere between one that is too low to produce a profit and one that is too high to produce any demand. It summarizes the major considerations in setting price. Customer perceptions of the products value set the ceiling for prices. If customers perceive that the products price is greater that its value, they will not buy the product. Likewise, product costs set the floor for prices. If the company prices the product below its costs, the company՚s profits will suffer. In setting its price between those two extremes, the company must consider several external and internal factors, including competitor՚s strategies and prices, the overall marketing strategy and mix, and nature of the market and demand.
Q8➡ Why is price different from other elements in the marketing mix?
Q9➡| UGC NET November 2020, 24 sept shift 2 Comprehension: Read the passage carefully and answer the questions that follow In the narrowest sense, price is the amount of money charged for a product or a service. More broadly, price is the sum of all the values that customers give up to gain the benefits of having or using a product or service. Historically, price has been the major factor affecting buyer choice. In recent decades, however, nonprice factors have gained increasing importance. Even so, price remains one of the most important elements that determines a firm՚s market share and profitability. Price is the only element in the marketing mix that produces revenue; all other elements present costs. Price is also one of the most flexible marketing mix elements. Unlike product features and channel commitments, prices can be changed quickly. At the same time, pricing is the number one problem facing many marketing executives, and many companies do not handle pricing well. Some managers view pricing as a big headache, preferring instead to focus on other marketing mix elements. However, smart managers treat pricing as a key strategic tool for creating and capturing costumer value. Prices have a direct impact on a firm՚s bottom line. A small percentage improvement in price can generate a large percentage increase in profitability. More important, as part of a company՚s overall value proposition, price plays a key role in creating customer value and building customer relationships. ″ Instead of running away from pricing, says an expert, ″ savvy marketers are embracing it. ″ The price the company charges will fall somewhere between one that is too low to produce a profit and one that is too high to produce any demand. It summarizes the major considerations in setting price. Customer perceptions of the products value set the ceiling for prices. If customers perceive that the products price is greater that its value, they will not buy the product. Likewise, product costs set the floor for prices. If the company prices the product below its costs, the company՚s profits will suffer. In setting its price between those two extremes, the company must consider several external and internal factors, including competitor՚s strategies and prices, the overall marketing strategy and mix, and nature of the market and demand.
Q9➡ What are the other factors influencing or setting the price for products or services? A. Competitors՚ strategies B. Over-all marketing mix C. Type of market D. Pricing from one extreme to the other E. Predators pricing strategies Choose the correct answer from the options given below:
Q10➡| UGC NET November 2020, 24 sept shift 2 Comprehension: Read the passage carefully and answer the questions that follow In the narrowest sense, price is the amount of money charged for a product or a service. More broadly, price is the sum of all the values that customers give up to gain the benefits of having or using a product or service. Historically, price has been the major factor affecting buyer choice. In recent decades, however, nonprice factors have gained increasing importance. Even so, price remains one of the most important elements that determines a firm՚s market share and profitability. Price is the only element in the marketing mix that produces revenue; all other elements present costs. Price is also one of the most flexible marketing mix elements. Unlike product features and channel commitments, prices can be changed quickly. At the same time, pricing is the number one problem facing many marketing executives, and many companies do not handle pricing well. Some managers view pricing as a big headache, preferring instead to focus on other marketing mix elements. However, smart managers treat pricing as a key strategic tool for creating and capturing costumer value. Prices have a direct impact on a firm՚s bottom line. A small percentage improvement in price can generate a large percentage increase in profitability. More important, as part of a company՚s overall value proposition, price plays a key role in creating customer value and building customer relationships. ″ Instead of running away from pricing, says an expert, ″ savvy marketers are embracing it. ″ The price the company charges will fall somewhere between one that is too low to produce a profit and one that is too high to produce any demand. It summarizes the major considerations in setting price. Customer perceptions of the products value set the ceiling for prices. If customers perceive that the products price is greater that its value, they will not buy the product. Likewise, product costs set the floor for prices. If the company prices the product below its costs, the company՚s profits will suffer. In setting its price between those two extremes, the company must consider several external and internal factors, including competitor՚s strategies and prices, the overall marketing strategy and mix, and nature of the market and demand.
Q10 ➡Historically price was considered important because.
Question-15 Caring capitalism is inclusive of A. Make profit by ignoring social demands B. Being civic-minded C. Forging social linkages D. Budge when there is a legislative nudge Choose the correct answer from the options given below:
Question-17 What happens when two organisations merge? A. Shape of the organisation will change B. Product orientation remains the same C. Drastic decentralisation of authority D. Discontinuous change does not take place Choose the correct answer from the options given below:
Question 18 What are the main levels of organizational transformation? A. Downsizing B. Geographical relocation C. Contained changes D. Power to external forces Choose the correct answer from the options given below:
* The procedure of shaping a subject՚s behaviour is related to his A. Susceptibility B. Desire for reinforcement C. Responses already in his repertoire D. Responses reinforced by approximation techniques Choose the correct answer from the options given below:
Q71➡|UGC NET November 2020, 11 nov shift 2 Read the passage and answer questions from 71 to 75. Through their work and the efforts of others, managers in all kinds of organizational settings, whether industrial, educational, governmental, or military are attempting to run their organizations with the management by objectives process as a basic underlying management concept. Management by objectives is basically a process whereby the seniors and the junior managers of an enterprise jointly identify its common goals, define each individual’s major areas of responsibility in terms of the results expected… use these measures as guides for operating the unit and assessing the contribution of each of its members. In some cases, this process has been successfully carried beyond the managerial level to include hourly employees. The concept rests on a philosophy of management that emphasizes an integration between external control by managers and self-control by employees. It can apply to any manager or individual no matter what level or function, and to any organization, regardless of size. The effective functioning of this system is an agreement between a manager and an employee about the employee’s group’s performance goals during a stated time period. These goals can emphasise either output variables of intervening variables or some combination of both. The important thing is that goals are jointly established and agreed upon in advance. At the end of the time period, performance is reviewed in relation to accepted goals. Both the employee and the manager participate in this review. In this frame of reference, how does an organization function effectively?
i ➥ By providing separate work environment for both managers and workers
ii ➥ By imposing a rigid philosophy of management
iii ➥By including the hourly employees in the managerial positions
iv ➥By identifying and executing performance targets in a collaborative mode
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Answer: iv Explanation: Upload Soon
Q72➡|UGC NET November 2020, 11 nov shift 2 Read the passage and answer questions from 71 to 75. Through their work and the efforts of others, managers in all kinds of organizational settings, whether industrial, educational, governmental, or military are attempting to run their organizations with the management by objectives process as a basic underlying management concept. Management by objectives is basically a process whereby the seniors and the junior managers of an enterprise jointly identify its common goals, define each individual’s major areas of responsibility in terms of the results expected… use these measures as guides for operating the unit and assessing the contribution of each of its members. In some cases, this process has been successfully carried beyond the managerial level to include hourly employees. The concept rests on a philosophy of management that emphasizes an integration between external control by managers and self-control by employees. It can apply to any manager or individual no matter what level or function, and to any organization, regardless of size. The effective functioning of this system is an agreement between a manager and an employee about the employee’s group’s performance goals during a stated time period. These goals can emphasize either output variables of intervening variables or some combination of both. The important thing is that goals are jointly established and agreed upon in advance. At the end of the time period, performance is reviewed in relation to accepted goals. Both the employee and the manager participate in this review. The philosophy behind management by objective is to.
i ➥agree upon different performance goals for managers and employees
ii ➥ provide managers scope to review the accepted output variables
iii ➥integrate external and internal controls by managers
iv ➥effect improvement through a joint review of achievement of performance goals within a given time-frame
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Answer: iv Explanation: Upload Soon
Q73➡|UGC NET November 2020, 11 nov shift 2 Read the passage and answer questions from 71 to 75. Through their work and the efforts of others, managers in all kinds of organizational settings, whether industrial, educational, governmental, or military are attempting to run their organizations with the management by objectives process as a basic underlying management concept. Management by objectives is basically a process whereby the seniors and the junior managers of an enterprise jointly identify its common goals, define each individual’s major areas of responsibility in terms of the results expected… use these measures as guides for operating the unit and assessing the contribution of each of its members. In some cases, this process has been successfully carried beyond the managerial level to include hourly employees. The concept rests on a philosophy of management that emphasizes an integration between external control by managers and self-control by employees. It can apply to any manager or individual no matter what level or function, and to any organization, regardless of size. The effective functioning of this system is an agreement between a manager and an employee about the employee’s group’s performance goals during a stated time period. These goals can emphasize either output variables of intervening variables or some combination of both. The important thing is that goals are jointly established and agreed upon in advance. At the end of the time period, performance is reviewed in relation to accepted goals. Both the employee and the manager participate in this review.
In an MBO, organization is managed through the identification of.
i ➥common objectives
ii ➥ senior and junior managers
iii ➥its specific characteristics
iv ➥competing goals
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Answer: i Explanation: Upload Soon
Q74➡|UGC NET November 2020, 11 nov shift 2 Read the passage and answer questions from 71 to 75. Through their work and the efforts of others, managers in all kinds of organizational settings, whether industrial, educational, governmental, or military are attempting to run their organizations with the management by objectives process as a basic underlying management concept. Management by objectives is basically a process whereby the seniors and the junior managers of an enterprise jointly identify its common goals, define each individual’s major areas of responsibility in terms of the results expected… use these measures as guides for operating the unit and assessing the contribution of each of its members. In some cases, this process has been successfully carried beyond the managerial level to include hourly employees. The concept rests on a philosophy of management that emphasizes an integration between external control by managers and self-control by employees. It can apply to any manager or individual no matter what level or function, and to any organization, regardless of size. The effective functioning of this system is an agreement between a manager and an employee about the employee’s group’s performance goals during a stated time period. These goals can emphasize either output variables of intervening variables or some combination of both. The important thing is that goals are jointly established and agreed upon in advance. At the end of the time period, performance is reviewed in relation to accepted goals. Both the employee and the manager participate in this review.
The requisite for management by objectives is centered on.
i ➥the participatory process
ii ➥ the organizational settings
iii ➥the guidance of juniors
iv ➥the control by seniors
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Answer: i Explanation: Upload Soon
Q75➡|UGC NET November 2020, 11 nov shift 2 Read the passage and answer questions from 71 to 75. Through their work and the efforts of others, managers in all kinds of organizational settings, whether industrial, educational, governmental, or military are attempting to run their organizations with the management by objectives process as a basic underlying management concept. Management by objectives is basically a process whereby the seniors and the junior managers of an enterprise jointly identify its common goals, define each individual’s major areas of responsibility in terms of the results expected… use these measures as guides for operating the unit and assessing the contribution of each of its members. In some cases, this process has been successfully carried beyond the managerial level to include hourly employees. The concept rests on a philosophy of management that emphasizes an integration between external control by managers and self-control by employees. It can apply to any manager or individual no matter what level or function, and to any organization, regardless of size. The effective functioning of this system is an agreement between a manager and an employee about the employee’s group’s performance goals during a stated time period. These goals can emphasize either output variables of intervening variables or some combination of both. The important thing is that goals are jointly established and agreed upon in advance. At the end of the time period, performance is reviewed in relation to accepted goals. Both the employee and the manager participate in this review.
The critical feature of the concept in this type of management is related to
i ➥promoting of uniformity of work environment among all types of organisation
ii ➥ sharing of responsibility with an eye on results
iii ➥distinguishing the operational role between managers and workers
iv ➥the assignment of responsibility to the workers
