ISC Commerce 2016 Class-12 Previous Year Question Papers
Government and Legal Regulations : Government and legal regulations also play an important role in fixation of prices. Sometimes the prices are fixed by the government for essential commodities. For example, government fixes the low price for life saving medicines for the diseases like cancer, aid etc. No business enterprise can charge more price as fixed by the government.
Pricing Objectives : Pricing objectives are another important factor affecting the fixation of price. These objectives include :
- If a firm wants to capture a share of the market. It will fix the low prices so that greater number of people can be attracted.
- In case of keen competition the firm can use the sales promotion techniques like discount, rebate etc.
- Sometimes high prices are charged to cover high quality and high cost of research and development.
Question 9. (ISC Commerce 2016 Class-12 )
Write short notes on :
(a) SWOT analysis.  (b) Marketing research.  (c) Bank overdraft.  Answer 9:
(a) SWOT Analysis is an acronym for strengths, weaknesses, opportunities and threats. A SWOT Analysis can be carried out for a company, product, place, industry or person. It specifying the objective of the business venture and identifying the internal and external factors that are beneficial and non-beneficial to achieve that objective.
(b) Marketing research refers to a process which involves application of research process in . solving various marketing problems. First of all market information is gathered and analysed. This is necessary to understand the needs of customers and for taking marketing decision.
(c) Bank Overdraft is a temporary’ arrangement in the form of a sanctioned limit granted to the customers to overdraw from their current accounts. Interest is charged on the over drawn amount. The overdrawn limit is determined by the bank depending upon various issues like, credit worthiness of the customer, need and time interval for which the overdrawn is required.
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