A STUDY ON CONSUMER PERCEPTION OF SERVICE QUALITY FOR SRI VINAYAKA AUTOMOBILES, PALAMANER

A STUDY ON CONSUMER PERCEPTION OF SERVICE QUALITY FOR SRI VINAYAKA AUTOMOBILES, PALAMANER The ultimate aim of every business is to increase sales by finding out the factors that drive consumer’s buying decisions. Consumer perception theory tries to analyse and explain consumer behaviour. The perception of the same product or service by different consumers would vary. This is exactly what consumer perception theory analyses by finding out what exactly motivates or influences a consumer behaviour in purchasing or not purchasing a specific product. The Concept of Consumer Perception: The Business Dictionary defines consumer perception as a “marketing concept that encompasses a customer’s impression, awareness or consciousness about a company or its offerings. Typically, customer perception is affected by advertising, reviews, public relations, social media, personal experiences, and other channels.” The truth is that everything affects customer perception, from the way you position your product vertically and horizontally on a shelf, to the colours and shapes we use in creating your logo. Even things outside of your control, which may seem innocuous, such as the time of the day when your customer interacts with our brand - even this will affect consumer perception. The customers might have a positive perception of you if they come across the products and the niche during a certain time of the day,but they may hold a negative perception at another time of day. This dual perception might not have anything to do with our; some people are not morning people, and the worst time to try to sell 'not-morning' people is in the morning hours, especially before they’ve had breakfast and coffee. The would do better to catch them right after dinner, when they’re relaxed. Other people simply can’t concentrate on anything in the evening, and would rather that you had caught their attention in the morning. Others are somewhere in between,preferring that you reach them during the main part of the day. So, as you can see, something as harmless as calling at the wrong hour or showing a potential

MBA FINAL PROJECT ON MARKETING "A STUDY ON CONSUMER ATTITUED AND BEHAVIOUR ON PODARAN SOFT DRINKS P.VT LTD"

"A STUDY ON CONSUMER ATTITUED AND BEHAVIOUR ON PODARAN SOFT DRINKS P.VT LTD"

BUSINESS STATISTICS

1. What is statistical survey?

Statistical surveys are used to collect quantitative information about items in a population. A survey may focus on opinions or factual information depending on its purpose, and many surveys involve administering questions to individuals. When the questions are administered by a researcher, the survey is called a structured interview or a researcher-administered survey. When the questions are administered by the respondent, the survey is referred to as a questionnaire or a self-administered survey.

2. What are the advantages of survey?

§  Efficient way of collecting information

§  Wide range of information can be collected

§  Easy to administer

§  Cheaper to run

3. What are the disadvantages of survey?

§  Responses may be subjective

§  Motivation may be low to answer

§  Errors due to sampling

§  If the question is not specific, it may lead to vague data.

4. What are the various modes of data collection?

§  Telephone

§  Mail

§  Online surveys

§  Personal survey

§  Mall intercept survey

5. What is sampling?

“Sampling” basically means selecting people/objects from a “population” in order to test the population for something. For example, we might want to find out how people are going to vote at the next election. Obviously we can’t ask everyone in the country, so we ask a sample.

Classification, Tabulation & Presentation of data

1. What are the types of data collection?

Qualitative Data

§  Nominal, Attributable or Categorical data

§  Ordinal or Ranked data

Quantitative or Interval data

§  Discrete data

§  Continuous measurements

2. What is tabulation of data?

Tabulation refers to the systematic arrangement of the information in rows and columns. Rows are the horizontal arrangement. In simple words, tabulation is a layout of figures in rectangular form with appropriate headings to explain different rows and columns. The main purpose of the table is to simplify the presentation and to facilitate comparisons.

3. What is presentation of data?

Descriptive statistics can be illustrated in an understandable fashion by presenting them graphically using statistical and data presentation tools.

4. What are the different elements of tabulation?

Tabulation:

§  Table Number

§  Title

§  Captions and Stubs

§  Headnotes

§  Body

§  Source

5. What are the forms of presentation of the data?

Grouped and ungrouped data may be presented as :

§  Pie Charts

§  Frequency Histograms

§  Frequency Polygons

§  Ogives

§  Boxplots

Measures used to summarise data

1. What are the measures of summarizing data?

§  Measures of Central tendency: Mean, median, mode

§  Measures of Dispersion: Range, Variance, Standard Deviation

2. Define mean, median, and mode?

Mean: The mean value is what we typically call the “average.” You calculate the mean by adding up all of the measurements in a group and then dividing by the number of measurements.

Median: Median is the middle most value in a series when arranged in ascending or descending order

Mode: The most repeated value in a series.

3. Which measure of central tendency is to be used?

The measure to be used differs in different contexts. If your results involve categories instead of continuous numbers, then the best measure of central tendency will probably be the most frequent outcome (the mode). On the other hand, sometimes it is an advantage to have a measure of central tendency that is less sensitive to changes in the extremes of the data.

4. Define range, variance and standard deviation?

The range is defined by the smallest and largest data values in the set.

Variance: The variance (σ²) is a measure of how far each value in the data set is from the mean.

Standard Deviation: it is the square root of the variance.

5. How can standard deviation be used?

The standard deviation has proven to be an extremely useful measure of spread in part because it is mathematically tractable.

 Probablity

1. What is Probability?

Probability is a way of expressing knowledge or belief that an event will occur or has occurred.

2. What is a random experiment?

An experiment is said to be a random experiment, if it’s out-come can’t be predicted with certainty.

3. What is a sample space?

The set of all possible out-comes of an experiment is called the sample space. It is denoted by ‘S’ and its number of elements are n(s).

Example; In throwing a dice, the number that appears at top is any one of 1,2,3,4,5,6. So here:

S ={1,2,3,4,5,6} and n(s) = 6

Similarly in the case of a coin, S={Head,Tail} or {H,T} and n(s)=2.

4. What is an event? What are the different kinds of event?

Event: Every subset of a sample space is an event. It is denoted by ‘E’.

Example: In throwing a dice S={1,2,3,4,5,6}, the appearance of an event number will be the event E={2,4,6}.

Clearly E is a sub set of S.

Simple event: An event, consisting of a single sample point is called a simple event.

Example: In throwing a dice, S={1,2,3,4,5,6}, so each of {1},{2},{3},{4},{5} and {6} are simple events.

Compound event: A subset of the sample space, which has more than on element is called a mixed event.

Example: In throwing a dice, the event of appearing of odd numbers is a compound event, because E={1,3,5} which has ‘3’ elements.

5. What is the definition of probability?

If ‘S’ be the sample space, then the probability of occurrence of an event ‘E’ is defined as:

P(E) = n(E)/N(S) =

number of elements in ‘E’
number of elements in sample space ‘S’

Theoretical Distributions

1. What are theoretical distributions?

Theoretical distributions are based on mathematical formulae and logic. It is used in statistics to define statistics. When empirical and theoretical distributions correspond, you can use the theoretical one to determine probabilities of an outcome, which will lead to inferential statistics.

2. What are the various types of theoretical distributions?

§  Rectangular distribution (or Uniform Distribution)

§  Binomial distribution

§  Normal distribution

3. Define rectangular distribution and binomial distribution?

Rectangular distribution: Distribution in which all possible scores have the same probability of occurrence.

Binomial distribution: Distribution of the frequency of events that can have only two possible outcomes.

4. What is normal distribution?

The normal distribution is a bell-shaped theoretical distribution that predicts the frequency of occurrence of chance events. The probability of an event or a group of events corresponds to the area of the theoretical distribution associated with the event or group of event. The distribution is asymptotic: its line continually approaches but never reaches a specified limit. The curve is symmetrical: half of the total area is to the left and the other half to the right.

5. What is the central limit theorem?

This theorem states that when an infinite number of successive random samples are taken from a population, the sampling distribution of the means of those samples will become approximately normally distributed with mean μ and standard deviation σ/√ N as the same size (N) becomes larger, irrespective of the shape of the population distribution.

Sampling & Sampling Distributions

1. What is sampling distribution?

Suppose that we draw all possible samples of size n from a given population. Suppose further that we compute a statistic (mean, proportion, standard deviation) for each sample. The probability distribution of this statistic is called Sampling Distribution.

2. What is variability of a sampling distribution?

The variability of sampling distribution is measured by its variance or its standard deviation. The variability of a sampling distribution depends on three factors:

§  N: the no. of observations in the population.

§  n: the no. of observations in the sample

§  The way that the random sample is chosen.

3. How to create the sampling distribution of the mean?

Suppose that we draw all possible samples of size n from a population of size N. Suppose further that we compute a mean score for each sample. In this way we create the sampling distribution of the mean.

We know the following. The mean of the population (μ) is equal to the mean of the sampling distribution (μ_x). And the standard error of the sampling distribution (σ_x) is determined by the standard deviation of the population (σ), the population size, and the sample size. These relationships are shown in the equations below:

μ_x = μ   and σ_x = σ * sqrt( 1/n – 1/N )

BUSINESS STATISTICS NOTES

financial accounting for managers

1.Introduction:

 Accounting is aptly called the language of business. This designation is applied to accounting because it is the method of communicating business information. The basic function of any language is to serve as a means of communication. Accounting duly serves this function. The task of learning accounting is essentially the same as the task of learning a new language. But the acceleration of change in business organization has contributed to increase the complexities in this language. Like other languages, it is undergoing continuous change in an attempt to discover better means of communications. To enable the accounting language to convey the same meaning to all stakeholders, it should be made standard. To make it a standard language certain accounting principles, concepts and standards have been developed over a period of time. This lesson dwells upon the different dimensions of accounting, accounting concepts, accounting principles and the accounting standards. 

2.Evolution Of Accounting :

Accounting is as old as money itself. It has evolved, as have medicine, law and most other fields of human activity in response to the social and economic needs of society. People in all civilizations have maintained various types of records of business activities. The oldest known are clay tablet records of the payment of wages in babylonia around 600 b.c. accounting was practiced in india twenty-four centuries ago as is clear from kautilya’s book ‘arthshastra’ which clearly indicates the existence and need of proper accounting and audit. For the most part, early accounting dealt only with limited aspects of the financial operations of private or governmental enterprises. Complete accounting system for an enterprise which came to be called as “double entry system” was developed in Italy in the 15th century. The first known description of the system was published there in 1494 by a Franciscan monk by the name Lucas pacioli. The expanded business operations initiated by the industrial revolution required increasingly large amounts of money which in turn resulted in the development of the corporation form of organizations. As corporations became larger, an increasing number of individuals and institutions looked to accountants to provide economic information about these enterprises. For e.g. Prospective investors and creditors sought information about a corporation’s financial status. Government agencies required financial information for purposes of taxation and regulation. Thus accounting began to expand its function of meeting the needs of 5 relatively few owners to a public role of meeting the needs of a variety of interested parties.

3 .Definition Of Accounting:

 Before attempting to define accounting, it may be made clear that there is no unanimity among accountants as to its precise definition. Anyhow let us examine three popular definitions on the subject: Accounting has been defined by the american accounting association committee as: “the process of identifying, measuring and communicating economic information to permit informed judgments and decisions by users of the information”. This may be considered as a good definition because of its focus on accounting as an aid to decision making. The american institute of certified and public accountants committee on terminology defined accounting as: “accounting is the art of recording, classifying and summarizing, in a significant manner and in terms of money, transactions and events which are, in part at least, of a financial character and interpreting the results thereof ”. of all definitions available, this is the most acceptable one because it encompasses all the functions which the modern accounting system performs. 6 Another popular definition on accounting was given by american accounting principles board in 1970, which defined it as: “accounting is a service society. Its function is to provide quantitative information, primarily financial in nature, about economic entities that is useful in making economic decision, in making reasoned choices among alternative courses of action”. This is a very relevant definition in a present context of business units facing the situation of selecting the best among the various alternatives available. The special feature of this definition is that it has designated accounting as a service activity

FINANCIAL ACCOUNTING FOR MANAGERS NOTES PDF  

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MANAGEMENT AND ORGANIZATION BEHAVIOR 

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BUSINESS LAW AND REGULATIONS

BUSINESS ENVIRONMENT  

Business Law & Regulation

Business Law Regulation

Implementation and regulation of various laws and policies concerned with businesses in all economic sectors are of paramount importance for secured sustainability and desired development and prosperity. For these purposes there are diverse business law regulation acts in every country, apart from the company and corporate law, commercial law, taxation law, and laws relating to exports and imports and international business. Our discerning and reputed law firm with worldwide prominence provides the full-range of services regarding the business law implementation and regulation, along with all other supportive legal services to people and entities in diverse economic sectors in jurisdictions worldwide. Ours flawless and rigorous legal services cover all disciplines of the law and all areas of the legal practice, for great benefits of businesses in all sectors. Besides, swift services for domestic business law regulation, we also adroitly support our clients for their business management and regulation at international level worldwide, to facilitate and promote their international businesses.

Business Law Regulation in India

For punctual and perfect business law regulation in India, ours veteran and mellow legal professionals have been offering legal service regarding various business regulation acts, in every part of India. The most prominent and significant among these acts are - New Companies Act, 2013; Competition Act, 2002; FEMA, 1999; Foreign Trade (Development and Regulation) Act, 1992; SEBI Act, 1992; Industries (Development and Regulation) Act, 1951; Income Tax Act, 1961; Reserve bank of India Act, 1934; Contracts Act, 1872; Factories Act, 1948 and the Mines Act, 1952; Industrial Disputes Act, 1947 and the Trade Unions Act, 1926; and several other regulations of the Government of India issued from time to time. Ours these services to businesses in all sectors are in addition to the extensive range of legal services regarding the business and commercial law, intellectual property law and rights, maritime and admiralty law, real estate and construction law, pollution and environmental law, labor and employment law, alternative dispute resolution, international business laws, and so on.

Company Act

Ours this elaborately and meticulously written article offers precious description about what is company act, the company act in India, and ours impeccable and swift services in connection with this company act, along with giving the proper definition of company act. The Company Act or Company Law is the paramount and vital legislation regarding the formation, incorporation, governance, management, regulation, and winding up of all types of entities in all economic sectors within the specified country. In India, this company law is represented by the New Companies Act, 2013, detailed information about this being offered in the section below. Our organization has been one of the most famous and reputed law firms in the world, with whole gamut of refined and brisk services to people and entities in all economic sectors worldwide, essentially including the company act or law. All diverse disciplines of the legal practice are well-served by ours internationally eminent and reputed legal professionals. All different matters and issues contained in the company acts in sovereign nations located in all across the world, are well-served adroitly by ours mellow and discerning company law solicitors and attorneys.

Company Act 1956 India

 

The New Companies Act, 2013 provides the central government of India, the exclusive rights to incorporate, regulate, control, and terminate all various categories of entities in diverse sectors located within the country. The ministry of corporate affairs, company law board, registrars of companies in various States, and other agencies and authorities are responsible for supervising and regulating proper and strict compliance's under the rules and regulations of the companies act, and business regulation policies of the central government of India. Apart from the formation and functioning of profit-making and commercial entities like the private limited companies, partnership firms, sole proprietorship, public limited companies, One Person Company and unlimited companies, etc., this New Companies Act, 2013 also governs and regulates the inception and functioning of the non-profit-making companies under its Section 8. Establishments of diverse entities in India by foreign companies and investors, such as representative office, project office, liaison office, branch office, joint ventures, fully-owned subsidiaries, etc., are also exclusively governed and controlled by this magnificent New Companies Act, 2013. Well-established in India, ours respected and popular law firms extends all services related with the New Companies Act, 2013, governmental business regulation policies, and international business, to entities situated in all around the whole country.

The Sale of Goods Act 1930

Contracts or agreements related to the sale of goods are governed under the Sale of Goods Act 1930. This act came into effect on the 1st of July 1930 in the whole of India except the state of Jammu and Kashmir. Let us learn some important definitions and provisions of the act.

Definitions of Important Terms

Sale of commodities constitutes one of the important types of contracts under the law in India. India is one of the largest economies and also a great country where and thus has adequate checks and measures to ensure the safety and prosperity of its business and commerce community. Here we shall explain The Sale of Goods Act, 1930 which defines and states terms related to the sale of goods and exchange of commodities.

Sale of Goods Act, 1930 – Important Terms

The Sale of Goods Act, 1930 herein referred to as the Act, is the law that governs the sale of goods in all parts of India. It doesn’t apply to the state of Jammu & Kashmir. The Act defines various terms which are contained in the act itself. Let us see below:

I. Buyer And Seller

As per the sec 2(1) of the Act, a buyer is someone who buys or has agreed to buy goods. Since a sale constitutes a contract between two parties, a buyer is one of the parties to the contract.

The Act defines seller in sec 2(13). A seller is someone who sells or has agreed to sell goods. For a sales contract to come into existence, both the buyers and seller must be defined by the Act. These two terms represent the two parties of a sales contract.

A faint difference between the definition of buyer and seller established by the Act and the colloquial meaning of buyer and seller is that as per the act, even the person who agrees to buy or sell is qualified as a buyer or a seller. The actual transfer of goods doesn’t have to take place for the identification of the two parties of a sales contract.

II. Goods

One of the most crucial terms to define is the goods that are to be included in the contract for sale. The Act defines the term “Goods” in its sec 2(7) as all types of movable property. The sec 2(7) of the Act goes as follows:

“Every kind of movable property other than actionable claims and money; and includes stock and shares, growing crops, grass, and things attached to or forming part of the land which are agreed to be severed before sale or under the contract of sale will be considered goods”

As you can see, shares and stocks are also defined as goods by the Act. The term actionable claims mean those claims which are eligible to be enforced or initiated by a suit or legal action. This means that those claims where an action such as recovery by auction, suit, refunds etc. could be initiated to recover or realize the claim.

Business Law & Regulation notes PDF

1. Existing Goods

The goods that are referred to in the contract of sale are termed as existing goods if they are present (in existence) at the time of the contract. In sec 6 of the Act, the existing goods are those goods which are in the legal possession or are owned by the seller at the time of the formulation of the contract of sale. The existing goods are further of the following types:

A) Specific Goods

According to the sec 2(14) of the Act, these are those goods that are “identified and agreed upon” when the contract of sale is formed. For example, you want to sell your mobile phone online. You put an advertisement with its picture and information. A buyer agrees to the sale and a contract is formed. The mobile, in this case, is specific good.

B) Ascertained Goods:

This is a type not defined by the law but by the judicial interpretation. This term is used for specific goods which have been selected from a larger set of goods. For example, you have 500 apples. Out of these 500 apples, you decide to sell 200 apples. To sell these 200 apples, you will need to separate them from the 500 (larger set). Thus you specify 200 apples from a larger group of unspecified apples. These 200 apples are now the ascertained goods.

C) Unascertained Goods:

These are the goods that have not been specifically identified but have rather been left to be selected from a larger group. For example, from your 500 apples, you decide to sell 200 apples but you don’t specify which ones you want to sell. A seller will have the liberty to choose any 200 apples from the lot. These are thus the unascertained goods.

2. Future Goods

In sec 2(6) of the Act, future goods have been defined as the goods that will either be manufactured or produced or acquired by the seller at the time the contract of sale is made. The contract for the sale of future goods will never have the actual sale in it, it will always be an agreement to sell.

For example, you have an apple orchard with apples in it. You agree to sell 1000 apples to a buyer after the apples ripe. This is a sale that has to occur in the future but the goods have been identified already and the agreement made. Such goods are known as future goods.

3. Contingent Goods

Contingent goods are actually a sub type of future goods in the sense that in contingent goods the actual sale is to be done in the future. These goods are part of a sale contract that has some contingency clause in it. For example, if you sell your apples from your orchard when the trees are yet to produce apples, the apples are a contingent good. This sale is dependent on the condition that the trees are able to produce apples, which may not happen.

III. Delivery

The delivery of goods signifies the voluntary transfer of possession from one person to another. The objective or the end result of any such process which results in the goods coming into the possession of the buyer is a delivery process. The delivery could occur even when the goods are transferred to a person other than the buyer but who is authorized to hold the goods on behalf of the buyer.

There are various forms of delivery as follows:

·        Actual Delivery: If the goods are physically given into the possession of the buyer, the delivery is an actual delivery.

·        Constructive delivery: The transfer of goods can be done even when the transfer is effected without a change in the possession or custody of the goods. For example, a case of the delivery by attainment or acknowledgment will be a constructive delivery. If you pick up a parcel on behalf of your friend and agree to hold on to it for him, it is a constructive delivery.

·        Symbolic delivery: This kind of delivery involves the delivery of a thing in token of a transfer of some other thing. For example, the key of the go downs with the goods in it, when handed over to the buyer will constitute a symbolic delivery.

IV. The Document of Title to Goods

From the Sec 2(4) of the act, we can say that this “includes the bill of lading, dock-warrant, warehouse keeper’s certificate, railway receipt, multi modal transport document, warrant or order for the delivery of goods and any other document used in the ordinary course of business as proof of the possession or control of goods or authorizing or purporting to authorize, either by endorsement or by delivery, the possessor of the document to transfer or receive goods thereby represented.”

V. Mercantile Agent [Section 2(9)]

Mercantile agent is someone who has authority in the customary course of business, either to sell or consign goods under the contract on behalf of the one or both of the parties. Examples include auctioneers, brokers, factors etc.

VI. Property [Section 2(11)]

In the Act, property means ‘ownership’ or the general property i.e. all ownership right of the goods. A sale constitutes the transfer of ownership of goods by the seller to the buyer or an agreement of the same.

VII. Insolvent [Section 2(8)]

The Act defines an insolvent person as someone who ceases to pay his debts in the ordinary course of business or cannot pay his debts as they become due, whether he has committed an act of insolvency or not.

VIII. Price [Section 2(10)]

In the Act, the price is defined as the money consideration for a sale of goods.

IX. Quality of Goods

In Sec 2(12) of the Act, the quality of goods is referred to as their state or condition.