CUSTOMER_CODE
SMUDE
DIVISION_CODE
SMUDE
EVENT_CODE
OCTOBER15
ASSESSMENT_CODE BB0021_OCTOBER15
QUESTION_TYPE
DESCRIPTIVE_QUESTION
QUESTION_ID
32041
QUESTION_TEXT
Explain the importance of Plant Maintenance.
1.
2.
SCHEME OF EVALUATION
3.
4.
5.
6.
7.
8.
To ensure continuity in production
To ensure efficiency in production
(2 marks each, explanation required)
To ensure productivity
To deliver goods on the promised date
To minimize excessive scraps and wastages
To increase the life of equipments
To avoid loses due to poor maintenance
To ensure good house keeping
(1 mark each, explanation required)
QUESTION_TYPE
DESCRIPTIVE_QUESTION
QUESTION_ID
32044
QUESTION_TEXT
Explain the various types of plant maintenance.
SCHEME OF EVALUATION
1.
2.
3.
4.
Corrective or breakdown maintenance.
Scheduled maintenance.
Preventive maintenance.
Predictive maintenance.
(2.5 marks each, explanation required)
QUESTION_TYPE
DESCRIPTIVE_QUESTION
QUESTION_ID
73968
QUESTION_TEXT
What is meant by production and production system? explain the types of
production
SCHEME OF
EVALUATION
Meaning -2marks each
Types -3*2
Meaning of production: - it is a process or procedure developed to
transform a set of inputs like men, materials, capital, information and
energy into specified set of outputs in proper quantity and quality thus
achieve the objectives of an enterprise
Meaning of production system: - it is the design process by which
elements are transformed into useful products
Types: a.
job production
b.
c.
Continuous production
Batch production
QUESTION_TYPE
DESCRIPTIVE_QUESTION
QUESTION_ID
73970
QUESTION_TEXT
Discuss the stages in the Product life cycle.
a.
SCHEME OF
EVALUATION
Product Development Stage.
The Product Development stage begins when the company finds and
develops a new-product idea. This involves translating trends in the
microenvironment, taking diverse pieces of information, and
incorporating them into a product concept.
During the product development stage, sales are zero and profits are
negative.
b. Market introduction stage:
In this stages, sales are low as a new idea is first introduced to a
market. Customers aren`t looking for the product, and may not be aware
of its benefits or advantages over current offerings. In fact, they may
not even know about it. Informative promotion is needed to tell potential
customers about the new product concept.
Even through a firm promotes its new product, it takes time for
customers to learn that the product is available. Money is invested in
developing the market in anticipation of future profits.
c. Market growth Stage:
In the marketing Growth stage, industry sales grow quickly – but
industry profits rise and then start falling. The innovator begins to make
big profits as more and customers buy. But competitors see the
opportunity and enter the market. Some just copy the most successful
product, or try to improve it to complete better. Others try to refine their
offerings to do a better job of appealing to some target markets. The new
entries result in much product variety.
d. Market Maturity Stage
Market Maturity occurs when industry sales level off. Competition
gets tougher as aggressive competitors have entered the race for profits.
Industry profits continue to go down during maturity because promotion
costs rise and competitors continue to cut prices to attract more business.
New firms may still enter the market during this stage. Customers
who are satisfied with their current relationship won’t be interested in
switching to an unknown brand.
e. Sales Decline Stage:
During the Sales Decline stage, new products replace the old. Price
competition from dying products becomes more vigorous, but firms with
strong brands may make profits until the end because they successfully
differentiated their product.
They may also keep some sales by appealing to the most loyal
customers or those who are slow to try new ideas. These buyers might
switch later, smoothing the sales decline.
QUESTION_TYPE
DESCRIPTIVE_QUESTION
QUESTION_ID
73972
QUESTION_TEXT
Explain the methods of forecasting.
Survey of Buyer’s Views :
This is direct method for making forecasting , in which the customers
are asked what they are thinking to buy in near future say, in the coming
year. In this method all the burden is with consumers which may
misjudge or mislead or may be uncertain about the quantity to be
purchased by them in near future.
2. Collective opinion or Sales Force Polling :
In this method forecasting depends upon the salesman’s estimation
for their respective areas, because the salesman are closest to the
customers, hence can estimate more properly about the customers’
reaction about the product and their future requirements. All the
estimates of salesmen are consolidated to know the total estimate of the
sales. This final estimate then goes through sever checking to avoid
undue imagination which is done many times by the salesman.
3. Trend Projections:
A well-established firm which have considerable data sales, these
data are arranged in a chronological order, known as ‘ time series’ are
analyzed before making the forecasts. There is a common method known
as ‘Project the trend’. In this method the trend line is projected by some
statistical method, generally, by least square method. A real challenges
for forecaster comes when there is turning point. There are four factors
responsible for turning points
a. Trend
b. Seasonal Variation
c. Cyclical Fluctuation
d. Irregular or random forces.
4. Economics Indicators :
In this method the forecasting is dependent upon certain economic
indicators, which are generally published by central statistical
organization under the national income estimates. Some of these
indicators are:
a. Personal income for the demand of customer’s goods.
b. Agricultural income for the demand of agricultural inputs,
implements etc.
c. Construction contracts sanctioned for demand of building
materials.
1.
SCHEME OF
EVALUATION
d. Registration of automobiles for the demand of accessories, petrol
etc.
5. Judgmental Approach :
Management may have to use its own judgement when
i. analysis of time series and trend projections is not feasible
because of wide fluctuations in sales or because of anticipated changes in
trends and
ii. use of regression method is not possible because of lack of
historical data or because of managements inability to predict or even
identify causal factors
Thus while it may be possible to forecast the total national demand
more or less accurately, it may be more difficult to accurately forecast
demand by sales territory, sizes and models. In such a cases there is no
alternative but to be depend upon judgement for developing more
detailed forecasts.
QUESTION_TYPE DESCRIPTIVE_QUESTION
QUESTION_ID
118117
QUESTION_TEXT Give the meaning of product. Explain the various classes of products.
SCHEME OF
EVALUATION
A product is a set of attributes assembled in an identifiable
form.
(1 mark)
Classification of product:
To design effective marketing programs, organizations need to know
what kinds of products they are offering to consumers.
Classification of consumer goods:
1.
Convenience goods: A tangible product that the consumer knows
enough about before going out to buy it and then actually buy it with
a minimum effort is termed a convenient good.
2.
Shopping goods: A tangible product for which consumers want to
compare quality, price and perhaps style in several stores before
making a purchase is considered a shopping good.
3.
Specialty goods: A tangible product for which consumers have a
strong brand preference and are willing to expand substantial time
and effort in locating the desired brand is called a specialty good.
4.
Unsought goods: Unsought good is a new product that the consumer
is not yet aware of or a product that the consumer is aware of but
does not want right now.
(each point carries 1 mark)
Classification of Business goods:
1.
Raw materials: Business goods that become part of another tangible
product prior to being processed in any way are considered raw
materials.
2.
Fabricated materials and parts: Business goods that become part of
the finished product after having been processed to some extent fit
3.
4.
5.
into the category of fabricating materials and parts. The fact that they
have been processed distinguishes them from raw materials. Some
fabricating parts are assembled with no further change in form.
Installations: Manufactured products that are an organizations’
major, expensive and long lived equipment are termed as
installations.
Accessory equipment: Tangible products, that have substantial value
and are used is an organizations’ operations are called accessory
equipment.
Operating supplies: Business goods that are characterized by low
value goods and a short life and that aid in organization’s operations
without becoming part of the finished product are called operating
supplies.
(each point carries 1 mark)