Explanation : Marketers are skilled at stimulating demand for their products, but that’s a limited view of what they do. Just as production and logistics professionals are responsible for supply management, marketers are responsible for demand management. They seek to influence the level, timing, and composition of demand to meet the organization’s objectives. Eight demand states are possible: 1. Negative demand—Consumers dislike the product and may even pay to avoid it. 2. Nonexistent demand—Consumers may be unaware of or uninterested in the product. 3. Latent demand—Consumers may share a strong need that cannot be satisfied by an existing product. 4. Declining demand—Consumers begin to buy the product less frequently or not at all. 5. Irregular demand—Consumer purchases vary on a seasonal, monthly, weekly, daily, or even hourly basis. 6. Full demand—Consumers are adequately buying all products put into the marketplace. 7. Overfull demand—More consumers would like to buy the product than can be satisfied. 8. Unwholesome demand—Consumers may be attracted to products that have undesirable social consequences.
Explanation : Thousands of employees die everyday in factories due to accidents. Accidents are partial or total, temporary or permanent. An accident-free plant can save on cost, increase productivity, discharge moral commitment towards workers and comply with legal provision. The safety programme of a typical organisation comprises six steps—making strategic choice, development of a safety policy; organisation for safety; analysis of the causes, extent and consequences of accidents; implementation of the programme; and evaluation of the safety performance.
Explanation : The South Asian Association for Regional Cooperation (SAARC) was established with the signing of the SAARC Charter in Dhaka on 8 December, 1985. SAARC comprises of eight Member States: Afghanistan, Bangladesh, Bhutan, India, Maldives, Nepal, Pakistan and Sri Lanka. The Secretariat of the Association was set up in Kathmandu on 17 January, 1987. The objectives of the Association as outlined in the SAARC Charter are: to promote the welfare of the peoples of South Asia and to improve their quality of life; to accelerate economic growth, social progress and cultural development in the region and to provide all individuals the opportunity to live in dignity and to realize their full potentials; to promote and strengthen collective self-reliance among the countries of South Asia; to contribute to mutual trust, understanding and appreciation of one another’s problems; to promote active collaboration and mutual assistance in the economic, social, cultural, technical and scientific fields; to strengthen cooperation with other developing countries; to strengthen cooperation among themselves in international forums on matters of common interests; and to cooperate with international and regional organizations with similar aims and purposes. There are currently nine Observers to SAARC, namely: (i) Australia; (ii) China; (iii) the European Union; (iv) Iran; (v) Japan; (vi) the Republic of Korea; (vii) Mauritius; (viii) Myanmar; and (ix) the United States of America. There is a moratorium on the admission of new Observers to SAARC at present. Observers are invited to participate in the inaugural and closing Sessions of SAARC Summits. Member States have decided to engage the SAARC Observers into productive, demanddriven and objective project based cooperation in priority areas as identified by the Member States, i.e. (i) Communication (ii) Connectivity (iii) Agriculture (iv) Public Health (v) Energy (vi) Environment and (vii) Economic Cooperation. Joint Meeting of Observers and National Focal Points (Ministries of Foreign Affairs) will finalize the projects based on proposals from Member States and Observers.
Explanation : Many firms have to introduce multiple brands because no one brand is viewed equally favourably by all the different market segments the firm would like to target. Some reasons for introducing multiple brands in a category include the following: ∎ To increase shelf presence and retailer dependence in the store. ∎ To attract consumers seeking variety who may otherwise switch to another brand. ∎ To increase internal competition within the firm. ∎ To yield economies of scale in advertising, sales, merchandising and physical distribution.