Meaning of Production Standards Production measure is a criterion or yardstick or benchmark. It is used for measure the production of the company. Production standards are fixed for raw materials, production process, tools in addition to equipment, workers, weather condition of work, speed of work, quantity of output, character of output, etc. Production standards are to a greater extent than oftentimes than non expressed inwards quantitative terms. That is, it is expressed inwards terms of units of output, units of time, kilograms, flora capacity, thus on. Production standards give administration in addition to guidance to the production department. It is also used for controlling the production activities. That is, the actual production tin last compared amongst the production standards, in addition to the divergence tin last found out in addition to corrected. It is a signal of reference. It helps to uncovering out whether the function was done as per plan. Image credits © Pr...

Meaning of Inquiry Commission The commissions of enquiry are ever set inwards Republic of Republic of India nether the provision of The Commissions of Inquiry Act, 1952 . The chore of such a committee is to collect all the relevant information, information in addition to concerning documents, etc., for its exam in addition to to create upwardly one's heed its conclusion on the dependent area affair of world importance. The Government's duty is to run across to it that whenever whatever dispute arises on issues of world concern, it may set an Inquiry Commission to uncovering out the right seat of such matter. The Government tin flora the Inquiry Commission yesteryear promulgating a notification inwards Gazette. The number of members appointed to a committee depends upon the role of enquiry in addition to the determination of Government ever in conclusion inwards that regard. Sometimes, a single-member Commission is too formed while, inwards other cases, it may consist of to a ...

What is Droit Administration? Droit Administration is a unique feature of the administrative setup of France. According to British Jurist Albert Venn Dicey (4 th February 1835 - 7 th Apr 1922), the Droit Administrative arrangement is based on the next of 2 ordinary principles, namely: The regime as well as its every retainer possesses exceptional rights, privileges as well as prerogative equally against private citizens. Such rights as well as privileges, etc., are determined on the principles unlike from the consideration that fixes the legal rights as well as duties of the citizens. Legendary French armed services leader Napoléon Bonaparte (15 th August 1769 - 5 th May 1821) was the founder of Droit Administration. He for the commencement fourth dimension established ‘ Conseil d'État ’ which way the Council of State. Principles of Droit Administration Eminent French scholar Jean Waline propounded next 3 principles of Droit Administration...

Definition of Marketing Audit The definition of marketing audit equally stated past times Abe Schuchman is equally follows: “Marketing audit is a systematic, critical as well as impartial review as well as appraisal of the full marketing operation: of the basic objectives as well as polices as well as the assumptions which underlie them equally good equally the methods, procedures, personnel as well as arrangement employed to implement the policies as well as hand the objectives.” Abe Schuchman gave this definition of marketing audit inwards his writings on its kickoff extended discussions. He wrote this tidings for the American Marketing Association (AMA) inwards 1951. Meaning of Marketing Audit The pregnant of marketing audit is depicted inwards the next chart. Marketing audit is an analysis, examination, review or evaluation of marketing activities of a company. It evaluates marketing environment, objectives, plans, policies as well as strategies of...

Distinguish Between MIS together with Marketing Research (MR) Following icon depicts the x top dog points which are used to brand a comparing or distinction betwixt MIS together with Marketing Research (MR). Image credits © Prof. Mudit Katyani. Difference betwixt MIS vs MR is based on the next x points: Meaning of MIS together with MR. Their basic or top dog purpose. Wide or narrow scope. General or specific nature. Number of reports provided. Future or by orientation. Frequency of information collection. Number of problems to solve. Continuous or non-continuous operational method. Based on utilization of computers or not. Now let's distinguish MIS together with Marketing Research (MR) on inwards a higher house points. Meaning : MIS agency to collect, analyze together with provide relevant marketing information to the marketing managers. The marketing managers utilization this information for taking effective marketing decisions. It is a pe...

Essential Requisites of a Good MIS The next ikon depicts the 8 essential requisites of a proficient MIS . Image credits © Prof. Mudit Katyani. The essentials of a proficient Marketing Information System (MIS) is listed below: MIS must last unified together with centralized. It must facilitate decision making . It must provide quick together with accurate information. It must last economical. It must last selective. It must last futurity oriented. It must furnish information regularly. It must utilisation novel techniques. Now let's hash out together with discovery out, “ How a proficient MIS must be? ” Unified together with centralized : MIS must last unified together with centralized. It collects together with stores dissimilar types of market information. All of this information must last unified together with centralized. That is, all the marketing information must last brought together (unified) together with kept at i fun...

Components of Marketing Information System MIS Marketing Information System (MIS) collects, analyses, together with supplies a lot of relevant information to the marketing managers. It is a valuable tool for planning, implementing together with controlling the marketing activities. The business office of MIS is to position (find out) what form of information is required yesteryear the marketing managers. It together with then collects together with analyzes the information. It supplies this information to the marketing managing director at the correct time. MIS collects the information through its subsystems. These subsystems are called components . The iv principal components of Marketing Information System (MIS) are: Internal Records, Marketing Intelligence, Marketing Research (MR), and Marketing Decision Support System. The basic components of MIS are depicted together with explained below. Image credits © Prof. Mudit Katyani. Interna...

Features of Marketing Information System MIS The primary characteristics or features of Marketing Information System (MIS) : Image credits © Prof. Mudit Katyani. Continuous system : MIS is a permanent as well as continuous organisation of collecting information. It collects data continuously. Basic objective : The basic objective of MIS is to provide the right-information at the right-time to the right-people to assist them arrive at got correct decisions. Computer based system : MIS is a computer-based system. It uses computers for storing, analyzing as well as supplying information. It likewise uses micro-films for storing information. Therefore, it is real quick as well as accurate. Future-oriented : MIS is future-oriented. It provides data for solving time to come problems. It is non past-oriented. Used past times all levels : MIS is used past times all iii levels of management , i.e. top, middle as well as lower. It is used for making...

Marketing Information System MIS Definition 1. According to Donald Cox together with Robert Good , “An MIS may live defined equally a ready of procedures together with methods for the regular, planned collection, analysis, together with presentation of information for role inwards making marketing decisions. This of course of study is a stride beyond logistics systems, which handgrip inventory control, orders, together with and thence forth.” This definition of Marketing Information System (MIS) is referred from a 1937 classic newspaper titled “ How to construct a Marketing Information System ,” written past times Donald F. Cox together with Robert E. Good. 2. According to Prof. Mudit Katyani , “MIS is a planned tactic to create analysis of mainly 3 arrangement requirements viz., people, information, together with technology. It is required at all levels of management inwards executing operational, managerial, together with strategic decisions. ...

Objectives of Marketing Research The principal objective of marketing research (MR) is to provide data to the marketing manager. The marketing director uses this data to build marketing determination in addition to to solve marketing problems. The purposes or objectives of marketing query are listed below. Identify the consumer reply to the company’s product. Know the consumers’ needs in addition to expectations. Seek maximum data well-nigh the consumer, i.e. the know consumers’ income range, their location, buying behavior, etc. Know the nature in addition to extent of contest in addition to likewise the forcefulness in addition to weaknesses of the competitors. Check the reaction of the dealers to the fellowship policies. Evaluate the reputation of the fellowship inward the market. Identify in addition to solve the marketing problems of the company. Search for novel marketing opportunities. Find out option uses of the existing products. Estimate the ...

Need For Marketing Research In recent years, the range of work concern has expanded from local to global level. The size of the production has greatly increased. The production is straight off centralized, as well as the consumption centers are widespread. This has created a broad gap betwixt the manufacturer as well as consumer. This has caused basic problems similar what to reach as well as what to sell. There is a remove for marketing research to solve these problems. There is a remove for marketing research, to: Collect latest information on demand as well as provide inward the market. Find out novel marketplace as well as create to a greater extent than demand for goods. Analyze the extent of competition. Find out the best engineering for production, packaging, etc. Fill information gap betwixt producers as well as consumers. Collect consumer-related information for determination making. Supply latest as well as reliable information to determination makers. Study c...

Difference Between Marketing Problem Vs Marketing Research Problem Following icon highlights viii of import points used to distinguish betwixt marketing work vs marketing research (MR) problem. Image credits © Prof. Mudit Katyani. Difference betwixt marketing work too marketing question work is based on the next viii points: Meaning of marketing work too marketing question problem. Wide too narrow scope. Who tin solve the problem? What problems they include? Availability of information too its relation to their studies. Cost too time-consumption. Whether the work is of serious nature or not? Their interrelationship. Now let's differentiate marketing work too marketing question problem. Meaning : Any work related to marketing of goods, too service is called a marketing problem. A marketing question work is the i which is selected for a detailed study. Scope : The range of a marketing work is really wide. It includes all the marketing...

Functions of marketing research The next ikon depicts 5 basic functions of marketing research . Image credits © Prof. Mudit Katyani. The 5 principal functions of marketing enquiry (MR) are: Description, Evaluation, Explanation, Prediction, and Aid inwards decision making . Now let's utter over these prominent functions of marketing research. Description : Marketing enquiry gives total description close the consumers. It describes their age, sex, education, income, etc. It too gives a description close the competitors as well as the marketplace seat situation. This description is used to conduct maintain marketing decisions as well as solve marketing problems. Evaluation : Marketing enquiry helps to evaluate the company's performance. It helps to evaluate the company's production as well as marketing policies. It finds out the client reaction to the lineament of the product, price, packaging, advertising, sales, promotions' techniques, ...

Need together with Importance of Marketing Research (MR) A business faces many types of marketing problems. It faces problems most its product, price, house together with promotion. It also faces problems most product design , packaging, branding, marketing channels, advertising , etc. Some marketing problems are rattling serious. Therefore, inward the marketing, managers role marketing enquiry every bit an of import tool to solve marketing problems. The take away together with importance of marketing research are depicted below. Marketing enquiry helps companionship together with conclusion makers every bit follows: Marketing enquiry (MR) provides valuable data. It studies together with provides information most consumer behavior. It helps to select suitable sales promotional techniques. It supplies market -related information. It helps a companionship to evaluate its marketing performance. It also has miscellaneous needs together with importance. 1. Pr...

Limitations of Marketing Research Though marketing research (MR) has many advantages, it too has many limitations or disadvantages. Marketing enquiry studies consumer behaviour too marketing environment. Since these factors move along on changing, it cannot give exact information. MR is too a social science. So, it cannot give exact solutions. It cannot move an choice to decision making . In other words, it cannot supplant conclusion making. It aids inwards decision-making. It tin give the axe amend the character of decisions. However, it cannot guarantee a 100% success. It tin give the axe trim back the business risks. However, it cannot totally eliminate all these risks. The demerits or limitations of marketing enquiry are depicted below. Imgage credits © Prof. Mudit Katyani. The limitations or disadvantages of marketing enquiry are every bit follows: Marketing enquiry (MR) is a costly affair. It is too lengthy too time-consuming. It has a expre...

Importance of Advertising The next icon depicts the importance of advertising . business : Crucial for a launch or announcement, Source of revenue for publishers, Promotes goods, services, ideas, together with events, Helps inwards increasing the sales, Maximize the turn a profit of an advertiser, Creates consumer awareness, Educate the society, Is Art, Science, together with Profession, Demands creativity, Marketing mix element, Target oriented, Use sentiment for results, Demands monitoring of demand together with supply, Builds brand's image, and Generates employment. Above points, highlighting advertising importance are explained below. Why Advertising is Important? Now let's discovery out, why advertising is essential for business? 1. Crucial for a launch Advertising is crucial for the launch (introduction) of a build novel product, service or thought inwards the market . If the promotion of whatever concerned product, service or ...