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42. Match the following product categories and quality certification mark(s).

Product CategoriesQuality Certification Marks
(a) Gold and silver jewellery(i) ISI Mark
(b) Agricultural products(ii) FPO Mark
(c) Industrial products(iii) BIS Hallmark
(d) Processed food products(iv) AGMARK
Choose the correct match from the option given below:

  • Option : D
  • Explanation : AGMARK: This mark is necessary for all agricultural products. Affixing or printing AGMARK on a food product means that the particular food item satisfies the standard prescribed under the Act. It provides assurance of quality to the consumers.
    BIS Hallmark: These marks certify the purity of gold jewelry.
    Ecomark: Ecolabel on various products issued by BIS Voluntary and promotional.
    FPO Mark: A mandatory mark for all processed fruit products in India. Certifies
    that the product was manufactured in a hygienic “food-safe” environment. ISI Mark: For industrial product, ISI certifies that a product conforms to a set of standards laid by the BIS
    The India Organic: These marks are certification marks for organically farmed food products. And certifies that the product
    conforms to the specifications of National Standards for Organic Products, 2000, and any eventual amendments. The Non-Polluting Vehicle Mark: This mark on motor vehicles certifies conformity to the Bharat stage emission standards.
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43. Which of the following is NOT the characteristic of “Hyper Competition”?

  • Option : D
  • Explanation : Hyper Competition: Most industries today are facing an ever-increasing level of environmental uncertainty. They become more complex and more dynamic because multi-domestic industries are now becoming global. New, flexible, aggressive, innovative competitors are moving into established markets to rapidly erode the advantages of large previously dominant firms. Distribution channels vary from country to country and are being altered daily through the use of sophisticated information systems. Closer relationships, with suppliers, are being forced to reduce costs, increase quality, and gain access to new technology. Companies learn to quickly imitate the successful strategies of market leaders and it becomes difficult to sustain competitive advantage for too long. Consequently, the level of competitive intensity is increasing in most industries. Richard D’Aveni contends that as this type of environment turbulence reaches more industries, competition becomes hypercompetitive. According to D’Aveni, in hypercompetitive the frequency, boldness, and aggressiveness of dynamic movement by the players accelerate to create a condition of constant disequilibria and change. Market stability is there tended by short product life cycle; short product design cycle; new technologies; frequent entry by unexpected outsiders; repositioning by incumbents, and tactical re-definitions of market boundaries as diverse industries merge. In other words, environments escalate toward higher levels of uncertainty, dynamism, heterogeneity of players, and hostility.
    In hyper-competitive industries—such as computers—competitive advantage comes from up-to-date knowledge of environment trends and competitive activity coupled with a willingness to risk current advantages to explore the possibility of newer advantages.
    Companies must be willing to ‘cannibalize’ their own products (replacing popular products before competitors do so) in order to sustain competitive advantage. As a result, industry, or competitive intelligence, has never been more important.
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