Consumer Protection and Commerce

Directions: The question is a logical sequence of statements with a missing link, the location of which is shown parenthetically. From the five choices available you are required to choose the one which best fits the sequence logically.

Antitrust laws are intended to maintain competition among business firms. A 'trust' consists of two or more companies that collude in order to control the supply or price of a product or service. (______) This forbade any business combination or practice that interfered with free competition or promoted monopoly.

Understanding the taste of customer is not essential for

Directions: Read the passage and answer the question.

Artificial Jewellery is the latest market trend and is the call of the market. It’s fun to wear and is popular amongst all age groups of women. Though the traditional gold and diamond jewellery has also not lost its significance but still artificial jewellery is the choice of the hour. Artificial jewellery provides a wide range of variety to choose from ranging in different segments of prices. Artificial Jewellery business is a good option considering the market trend and taste. Through systematic approach Artificial Jewellery business can lead to towering graphs of profit. There are certain things which should be considered while opting for Artificial Jewellery business, the most important amongst them is analyzing the market. The market is the platform where the business needs to be built upon and hence is essential to understand the trend of the market and plan accordingly. Understanding the taste of the customer is also very essential. Artificial Jewellery business can lead to good results, higher profits and build goodwill if the taste of the customer is given prime importance and efforts are made for customer satisfaction. Regular feedback is essential from the customer for understanding them better and providing them great service. Also, some help can be taken from the professionals in Artificial Jewellery business. Having a word with them can give various useful tips for successful and more profitable Artificial Jewellery business. If possible organizing regular trade shows or fashion shows can also lead to an increase in revenues from Artificial Jewellery business. People come across your jewellery designs displayed in trade shows or fashion shows and then if they like it, you may experience a huge increase in your sales volume. If successful with trade shows and fashion shows you may book your own shows. These type of shows helps in enhancement of the market and increase in the penetration level in the market segment. After the shows it is essential to collect reviews from the people, their likes, their dislikes, various suggestions etc. These inputs such as reviews and suggestions built a platform for understanding the taste of the customers and analyzing the market trends. Always maintain sufficient stock of Artificial Jewellery with you. Whenever you are approached by a customer for purchase, the customer should be never turned out due to non availability of adequate Artificial Jewellery quantity with you. So, the desired stock level of Artificial Jewellery should always be maintained with you in order to achieve good results and strong goodwill in Artificial Jewellery business. If a customer leaves the shop just because he does not gets the desired Artificial Jewellery unit, it not only means loss of direct income which the customer takes back along with him because of no purchase made, but also it is a loss of various efforts and money spent on the marketing activities and brand promotion activities to attract customers and to bring them to your doorstep. In today’s competitive world it is almost necessary to offer sales through credit cards. So step ahead and offer your Artificial Jewellery on your website where the customer can make the purchase through credit card. Take help of some web design company for a professional looking website. A proper display of the products along their prices needs to be mentioned, so that the customer can purchase the desired product. It provides a facility to the customer to pay the amount through the card instead of carrying and delivering cash at the time of purchase. Offering sales through credit card increases the sales volume and is a vital part in Artificial Jewellery business. The main requirement for offering sales through credit card is of getting the merchant accounts with various credit card companies. It always pays to have more and more clients as more and more clients mean more and more walking advertisement and spread of word. People who purchased jewellery from your shop wear it, carry it along with them which acts as a walking advertisement and a satisfied customer always act as a good medium of spread of word of mouth as it cuts down the advertising cost. It is also said that it is three times difficult to make a new customer then to get a new customer from the references of the loyal customers. So, it can be rightly said that Customer Relationship Management plays an important and vital role in Artificial Jewellery business.

Which of the following should be given utmost importance while setting up artificial jewellery business in India?

Directions: Read the passage and answer the question.

Artificial Jewellery is the latest market trend and is the call of the market. It’s fun to wear and is popular amongst all age groups of women. Though the traditional gold and diamond jewellery has also not lost its significance but still artificial jewellery is the choice of the hour. Artificial jewellery provides a wide range of variety to choose from ranging in different segments of prices. Artificial Jewellery business is a good option considering the market trend and taste. Through systematic approach Artificial Jewellery business can lead to towering graphs of profit. There are certain things which should be considered while opting for Artificial Jewellery business, the most important amongst them is analyzing the market. The market is the platform where the business needs to be built upon and hence is essential to understand the trend of the market and plan accordingly. Understanding the taste of the customer is also very essential. Artificial Jewellery business can lead to good results, higher profits and build goodwill if the taste of the customer is given prime importance and efforts are made for customer satisfaction. Regular feedback is essential from the customer for understanding them better and providing them great service. Also, some help can be taken from the professionals in Artificial Jewellery business. Having a word with them can give various useful tips for successful and more profitable Artificial Jewellery business. If possible organizing regular trade shows or fashion shows can also lead to an increase in revenues from Artificial Jewellery business. People come across your jewellery designs displayed in trade shows or fashion shows and then if they like it, you may experience a huge increase in your sales volume. If successful with trade shows and fashion shows you may book your own shows. These type of shows helps in enhancement of the market and increase in the penetration level in the market segment. After the shows it is essential to collect reviews from the people, their likes, their dislikes, various suggestions etc. These inputs such as reviews and suggestions built a platform for understanding the taste of the customers and analyzing the market trends. Always maintain sufficient stock of Artificial Jewellery with you. Whenever you are approached by a customer for purchase, the customer should be never turned out due to non availability of adequate Artificial Jewellery quantity with you. So, the desired stock level of Artificial Jewellery should always be maintained with you in order to achieve good results and strong goodwill in Artificial Jewellery business. If a customer leaves the shop just because he does not gets the desired Artificial Jewellery unit, it not only means loss of direct income which the customer takes back along with him because of no purchase made, but also it is a loss of various efforts and money spent on the marketing activities and brand promotion activities to attract customers and to bring them to your doorstep. In today’s competitive world it is almost necessary to offer sales through credit cards. So step ahead and offer your Artificial Jewellery on your website where the customer can make the purchase through credit card. Take help of some web design company for a professional looking website. A proper display of the products along their prices needs to be mentioned, so that the customer can purchase the desired product. It provides a facility to the customer to pay the amount through the card instead of carrying and delivering cash at the time of purchase. Offering sales through credit card increases the sales volume and is a vital part in Artificial Jewellery business. The main requirement for offering sales through credit card is of getting the merchant accounts with various credit card companies. It always pays to have more and more clients as more and more clients mean more and more walking advertisement and spread of word. People who purchased jewellery from your shop wear it, carry it along with them which acts as a walking advertisement and a satisfied customer always act as a good medium of spread of word of mouth as it cuts down the advertising cost. It is also said that it is three times difficult to make a new customer then to get a new customer from the references of the loyal customers. So, it can be rightly said that Customer Relationship Management plays an important and vital role in Artificial Jewellery business.

One should maintain sufficient stock of artificial jewellery, so that

Directions: Read the passage and answer the question.

Artificial Jewellery is the latest market trend and is the call of the market. It’s fun to wear and is popular amongst all age groups of women. Though the traditional gold and diamond jewellery has also not lost its significance but still artificial jewellery is the choice of the hour. Artificial jewellery provides a wide range of variety to choose from ranging in different segments of prices. Artificial Jewellery business is a good option considering the market trend and taste. Through systematic approach Artificial Jewellery business can lead to towering graphs of profit. There are certain things which should be considered while opting for Artificial Jewellery business, the most important amongst them is analyzing the market. The market is the platform where the business needs to be built upon and hence is essential to understand the trend of the market and plan accordingly. Understanding the taste of the customer is also very essential. Artificial Jewellery business can lead to good results, higher profits and build goodwill if the taste of the customer is given prime importance and efforts are made for customer satisfaction. Regular feedback is essential from the customer for understanding them better and providing them great service. Also, some help can be taken from the professionals in Artificial Jewellery business. Having a word with them can give various useful tips for successful and more profitable Artificial Jewellery business. If possible organizing regular trade shows or fashion shows can also lead to an increase in revenues from Artificial Jewellery business. People come across your jewellery designs displayed in trade shows or fashion shows and then if they like it, you may experience a huge increase in your sales volume. If successful with trade shows and fashion shows you may book your own shows. These type of shows helps in enhancement of the market and increase in the penetration level in the market segment. After the shows it is essential to collect reviews from the people, their likes, their dislikes, various suggestions etc. These inputs such as reviews and suggestions built a platform for understanding the taste of the customers and analyzing the market trends. Always maintain sufficient stock of Artificial Jewellery with you. Whenever you are approached by a customer for purchase, the customer should be never turned out due to non availability of adequate Artificial Jewellery quantity with you. So, the desired stock level of Artificial Jewellery should always be maintained with you in order to achieve good results and strong goodwill in Artificial Jewellery business. If a customer leaves the shop just because he does not gets the desired Artificial Jewellery unit, it not only means loss of direct income which the customer takes back along with him because of no purchase made, but also it is a loss of various efforts and money spent on the marketing activities and brand promotion activities to attract customers and to bring them to your doorstep. In today’s competitive world it is almost necessary to offer sales through credit cards. So step ahead and offer your Artificial Jewellery on your website where the customer can make the purchase through credit card. Take help of some web design company for a professional looking website. A proper display of the products along their prices needs to be mentioned, so that the customer can purchase the desired product. It provides a facility to the customer to pay the amount through the card instead of carrying and delivering cash at the time of purchase. Offering sales through credit card increases the sales volume and is a vital part in Artificial Jewellery business. The main requirement for offering sales through credit card is of getting the merchant accounts with various credit card companies. It always pays to have more and more clients as more and more clients mean more and more walking advertisement and spread of word. People who purchased jewellery from your shop wear it, carry it along with them which acts as a walking advertisement and a satisfied customer always act as a good medium of spread of word of mouth as it cuts down the advertising cost. It is also said that it is three times difficult to make a new customer then to get a new customer from the references of the loyal customers. So, it can be rightly said that Customer Relationship Management plays an important and vital role in Artificial Jewellery business.

B Mart has been losing business to Smart Stores ever since the latter came up in the neighborhood about a year back. Last month the Director of B Mart decided to slash the prices of all the grocery items well below the prices charged by Smart Stores for the same quality and brand. Over the month, the overall sales at B Mart went down further, instead of going up.

Which of the following helps resolve the apparently paradoxical situation?

The city of Orgville introduced discounts for people who use CFL. This was done with an aim to reduce the electricity consumption of the city. The Electricity Board compared the new bills with the previous ones and decided whether a household was eligible for discount or not. The program was a huge success and majority of the residents availed of the discounts. But the retailers reported no increase in the sales of CFL after the announcement of the discount program.

What if true would be the best reason why the sales of CFL didn't show any rise?

The management of Highway Mall was thinking of opening a book store to attract readers. Cloud 9 mall in the city had done a similar thing recently and had got a great response. Critics said that due to the location of the Highway Mall, it may not get a good response. According to them, the malls situated on highways attract only travellers who shop for snacks, travel accessories or car care products. The management of Highway Mall nevertheless went ahead and opened the book store.

Which of the following statements would strengthen the management's decision?

Directions: Analyse the statements given and choose an appropriate answer for the question that follows:

In a market study, it was observed that for their homes, people now prefer buying LCD screens to the old school CRT monitors. The drop in the sales of the CRT monitors and TV units is evidence that the future is dark for the CRT market. Last week, the telecom ministry published a tender for more than 500 computer monitors. The CRT wholesalers sending their bids are very pessimistic about getting this order.

What is the inherent, if misplaced, assumption of the CRT wholesalers?