Banking (Currency System In India)

Currency System In India

A Brief on CURRENCY SYSTEM IN INDIA

Present Denomination of Bank Notes:

At present, banknotes in India are issued in the denomination of Re.1, Rs.5 Rs.10, Rs.20, Rs.50, Rs.100, Rs.500 and Rs.1000. These notes are called banknotes as they are issued by the Reserve Bank of India (Reserve Bank).

Denomination of Bank Notes & Coins:

The Reserve Bank can also issue banknotes in the denominations of five thousand rupees and ten thousand rupees, or any other denomination that the Central Government may specify. There cannot, though, be banknotes in denominations higher than ten thousand rupees in terms of the current provisions of the Reserve Bank of India of Act, 1934.  Coins can be issued up to the denomination of Rs.1000.

Role of Government of India in Currency System:

In terms of Section 25 of RBI Act, 1934 the design of banknotes is required to be approved by the Central Government on the recommendations of the Central Board of the Reserve Bank of India. The responsibility for coinage vests with the Government of India on the basis of the Coinage Act, 1906 as amended from time to time. The Government of India also attends to the designing and minting of coins in various denominations.

How much currency to be produced?

The Reserve Bank decides the volume and value of banknotes except Re. 1 note to be printed each year. The quantum of banknotes that needs to be printed, broadly depends on the requirement for meeting the demand for banknotes due to inflation, GDP growth, replacement of soiled banknotes and reserve stock requirements.

Who decides the coins issue?

The Government of India decides the quantity of coins to be minted on the basis of indents( official order) received from the Reserve Bank.  

How does the Reserve Bank estimate the demand for banknotes?

The Reserve Bank estimates the demand for banknotes on the basis of the growth rate of the economy, the replacement demand and reserve stock requirements by using statistical models/techniques. 

What is a currency chest?

To facilitate the distribution of banknotes and rupee coins, the Reserve Bank has authorized select branches of scheduled banks to establish Currency Chests. These are actually storehouses where banknotes and rupee coins are stocked on behalf of the Reserve Bank.

What is a small coin depot?

Some bank branches are also authorized to establish Small Coin Depots to stock small coins. The Small Coin Depots also distribute small coins to other bank branches in their area of operation.

What are soiled, mutilated and imperfect banknotes?

(i) "soiled note:" means a note which, has become dirty due to usage and also includes a two piece note pasted together wherein both the pieces presented belong to the same note, and form the entire note.

(ii) Mutilated banknote is a banknote, of which a portion is missing or which is composed of more than two pieces.

(iii) Imperfect banknote means any banknote, which is wholly or partially, obliterated, shrunk, washed, altered or indecipherable but does not include a mutilated banknote.

 Can soiled and mutilated banknotes be exchanged for value?

Yes. Such banknotes can be exchanged for value.

Clean Note Policy:

Reserve Bank of India has been continuously making efforts to make good quality banknotes available to the members of public.  To help RBI and banking system, the members of public are requested to ensure the following:

a) Not to staple the banknotes

b) Not to write / put rubber stamp or any other mark on the banknotes

c) Store the banknotes safely to prevent any damage

Note:

1) Seeking to spread awareness among public about fake notes, the Reserve Bank has launched a website explaining ways to detect counterfeit notes. With a tagline 'Pehchano Paise Ki Boli, Kyunki Paisa Bolta Hai', the website- www.paisaboltahai.rbi.org.in -- gives visual presentation with pointers on currency notes of 10, 20, 50, 100, 500 and 1,000 rupee denominations.

2) MINIMUM RESERVE SYSTEM

The Reserve Bank has the sole right to issue currency notes, except one rupee notes which are issued by the Ministry of Finance. The RBI follows a minimum reserve system in the note issue. Initially, it used to keep 40 per cent of gold reserves in its total assets. But, since 1957, it has to maintain only Rs. 200 crores of gold and foreign exchange reserves, of which gold reserves should be of the value of Rs. 115 crores.

3) After a gap of over 20 years, Re 1 note has been released in the country and it bears the signature of Finance Secretary Rajiv Mehrishi. Incidentally, the note was released at Shrinathji temple in Nathdwara, Rajasthan, on March 6 by Mehrishi.

Banking (All About NBFC'S)

All About NBFC'S

ALL ABOUT NBFC'S 

About the term NBFC:

A Non-Banking Financial Company (NBFC) is a company registered under the Companies Act, 1956 engaged in the business of loans and advances, acquisition of shares/stocks/bonds/debentures/securities issued by Government or local authority or other marketable securities of a like nature, leasing, hire-purchase, insurance business, chit fund business.

Difference between BANK & NBFC:

NBFCs lend and make investments and hence their activities are akin to that of banks; however there are a few differences as given below:

i. NBFC cannot accept demand deposits;

ii. NBFCs do not form part of the payment and settlement system and cannot issue cheques drawn on itself;

iii. deposit insurance facility of Deposit Insurance and Credit Guarantee Corporation is not available to depositors of NBFCs, unlike in case of banks.

Different types/categories of NBFCs registered with RBI:

NBFCs are categorized

a) In terms of the type of liabilities into Deposit and Non-Deposit accepting NBFCs,

b) Non deposit taking NBFCs by their size into systemically important and other non-deposit holding companies (NBFC-NDSI and NBFC-ND) and

c) By the kind of activity they conduct.

Within this broad categorization the different types of NBFCs are as follows:

i. Asset Finance Company(AFC) : An AFC is a company which is a financial institution carrying on as its principal business the financing of physical assets supporting productive/economic activity, such as automobiles, tractors, lathe machines, generator sets, earth moving and material handling equipments, moving on own power and general purpose industrial machines.

ii. Investment Company (IC) : IC means any company which is a financial institution carrying on as its principal business the acquisition of securities.

iii. Loan Company (LC): LC means any company which is a financial institution carrying on as its principal business the providing of finance whether by making loans or advances or otherwise for any activity other than its own but does not include an Asset Finance Company.

iv. Infrastructure Finance Company (IFC): IFC is a non-banking finance company

a) which deploys at least 75 per cent of its total assets in infrastructure loans,

b) has a minimum Net Owned Funds of Rs. 300 crore,

c) has a minimum credit rating of ‘A ‘or equivalent d) and a CRAR of 15%.

v. Infrastructure Debt Fund: Non- Banking Financial Company (IDF-NBFC) : IDF-NBFC is a company registered as NBFC to facilitate the flow of long term debt into infrastructure projects. IDF-NBFC raise resources through issue of Rupee or Dollar denominated bonds of minimum 5 year maturity. Only Infrastructure Finance Companies (IFC) can sponsor IDF-NBFCs.

vi. Non-Banking Financial Company - Micro Finance Institution (NBFC-MFI): NBFC-MFI is a non-deposit taking NBFC having not less than 85%of its assets in the nature of qualifying assets which satisfy the following criteria:

a. loan disbursed by an NBFC-MFI to a borrower with a rural household annual income not exceeding Rs. 60,000 or urban and semi-urban household income not exceeding Rs. 1,20,000.

b. tenure of the loan not to be less than 24 months for loan amount in excess of Rs. 15,000 with prepayment without penalty; 

vii. Non-Banking Financial Company – Factors (NBFC-Factors): NBFC-Factor is a non-deposit taking NBFC engaged in the principal business of factoring. The financial assets in the factoring business should constitute at least 75 percent of its total assets and its income derived from factoring business should not be less than 75 percent of its gross income.

Register with RBI:

A company incorporated under the Companies Act, 1956 and desirous of commencing business of non-banking financial institution as defined under Section 45 I(a) of the RBI Act, 1934 should comply with the following:

i. it should be a company registered under Section 3 of the companies Act, 1954

ii. It should have a minimum net owned fund of Rs 200 lakh. 

Deposits in NBFC:

a) Presently, the maximum rate of interest an NBFC can offer is 12.5%. The interest may be paid or compounded at rests not shorter than monthly rests.

b) The NBFCs are allowed to accept/renew public deposits for a minimum period of 12 months and maximum period of 60 months. They cannot accept deposits repayable on demand.

c)  The deposits with NBFCs are not insured.

d)  The repayment of deposits by NBFCs is not guaranteed by RBI.

Brief about RNBC

a) Residuary Non-Banking Company is a class of NBFC which is a company and has as its principal business the receiving of deposits, under any scheme or arrangement or in any other manner and not being Investment, Asset Financing, Loan Company. 

b) These companies are required to maintain investments as per directions of RBI, in addition to liquid assets. 

c) The amount payable by way of interest, premium, bonus or other advantage, by whatever name called by a RNBC in respect of deposits received shall not be less than the amount calculated at the rate of 5% (to be compounded annually) on the amount deposited in lump sum or at monthly or longer intervals; and at the rate of 3.5% (to be compounded annually) on the amount deposited under daily deposit scheme. 

d) Further, a RNBC can accept deposits for a minimum period of 12 months and maximum period of 84 months from the date of receipt of such deposit. They cannot accept deposits repayable on demand.

Computer (File Extensions)

File Extensions

Important Computer Extensions

Text Files

.log: Log File

.wpd: WordPerfect Document

.odt:  OpenDocument Text Document

.pages:  Pages Document

.doc:  Microsoft Word Document

.docx:  Microsoft Word Open XML Document

.tex:  LaTeX Source Document

.wps:  Microsoft Works Word Processor Document

.msg:  Outlook Mail Message

.rtfRich:  Text Format File

.txtPlain:  Text File

Data Files

.vcf:  vCard File

.dat:  Data File

.pptx:  PowerPoint Open XML Presentation

.sdf:  Standard Data File

.tar:  Consolidated Unix File Archive

.csv:  Comma Seperated Values File

.xml:  XML File

.pps:  PowerPoint Slide Show

.ppt:  PowerPoint Presentation

Audio Files

.aif:  Audio Interchange File Format

.mpa:  MPEG-2 Audio File

.ra:  Real Audio File

.iff:  Interchange File Format

.wav:  WAVE Audio File

.wma:  Windows Media Audio File

.mp3:  MP3 Audio File

Video Files

.avi:  Audio Video Interleave File

.3gp3:  GPP Multimedia File

.flv:  Flash Video File

.mpg:  MPEG Video File

.vob:  DVD Video Object File

.mp4:  MPEG-4 Video File

.3g:  23GPP2 Multimedia File

.m4:  viTunes Video File
.wmv:  Windows Media Video File

Computer (Generation And Memory Units)

Generation And Memory Units

Quick Study Notes on Computers

DATA REPRESENTATION - 

Memory Units:

4 bit = 1 nibble

8 bit = 1 byte

1024 B = 1 KB (Kilo Byte)

1024 KB = 1 MB (Mega Byte)

1024 MB = 1 GB (Giga Byte)

1024 GB = 1 TB (Tera Byte)

1024 TB = 1 PB (Peta Byte)

1024 PB = 1 XB (Exa Byte)

1024 XB = 1 ZB (Zeta Byte)

1024 ZB = 1 YB (Yota Byte)

bit < Byte < KB < MB < GB < TB < PB < XB < ZB < YB

• bit (b)
• Byte (B)

Mbps – mega bits per sec.

MBps – mega Bytes per sec.

• The information you put into the computer is called Data
• Information of a computer is stored as Digital Data
• A number system defines a set of values that is used to represent Quantity
• In which number system, the modern computers are operated?

Binary Number System

• Name the most significant bit, which represent 1 and 0 for a positive number and negative number, respectively.

Sign Bit

• Which coding scheme represents data in a binary form in the computer system? ASCII, EBCDIC and Unicode are the most commonly used codes under this scheme.

Binary Coding Scheme

• EBCDIC is a 8-Bit code with 256 different representations of characters. It is mainly used in mainframe computers.
• EBCDIC stands for Extended Binary Coded Decimal Interchange Code
• In the Hexadecimal Number System each number represents a power of 16. To represent the decimal numbers, this system uses numbers from 0 to 9 and characters from A to F to represent numbers 10-15, respectively. It is commonly used as a shortcut notation for groups of four binary digits
• BCD is a method that represents the decimal digits with the help of binary digits. It takes advantage that one decimal numeral can be represented by 4-bit pattern. BCD stands for Binary Coded Decimal
• This coding system is used to represent the interval storage area of the computers. In this system, every character is represented by a combination of bits. Binary Coding System
• The Base or Radix of the decimal number system is 10
• The arithmetic operations (addition, subtraction, multiplication and division) performed on the binary numbers is called Binary Arithmetic
• What is the standard code the computer industry created to represent characters? American Standard Code for Information Interchange (ASCII)
• ASCII is a code used for standardizing the storage and transfer of information amongst various computing devices.
• It is required for representing more than 64 characters. At present, the mostly used coding systems are ASCII and EBCDIC
• Which code is also known as Reflected Code? Gray Code
• The 7-bit ASCII code is widely used for Two (0 or 1)
• In the binary language, each letter of the alphabet, each number and each special character is made up of a unique combination of Eight Bits.

GENERATIONS OF COMPUTER

• Which was the first general purpose computer, designed to handle both numeric and textual information? Universal Automatic Computer (UNIVAC) (1951)

First Generation (1940-1956) Vacuum Tubes:

• The first computers used vacuum tubes for circuitry and magnetic drums for memory, and were often enormous, taking up entire rooms.
• The UNIVAC and ENIAC computers are examples of first-generation computing devices. 
• In first generation of computer, this operating system allowed only one program to run at a time and a number of input jobs are grouped for processing. It is known as Batch Processing.

Second Generation (1956-1963) Transistors:

• Transistors replaced vacuum tubes and ushered in the second generation of computers.

Third Generation (1964-1971) Integrated Circuits:

• The development of the integrated circuit was the hallmark of the third generation of computers. Transistors were miniaturized and placed on silicon chips, called semiconductors, which drastically increased the speed and efficiency of computers.

Fourth Generation (1971-Present) Microprocessors:

• The microprocessor brought the fourth generation of computers, as thousands of integrated circuits were built onto a single silicon chip.
• What in the first generation filled an entire room could now fit in the palm of the hand
• Fourth generation computers also saw the development of GUIs, the mouse and handheld devices

Fifth Generation (Present and Beyond) Artificial Intelligence:

• Fifth generation computing devices, based on artificial intelligence, are still in development, though there are some applications, such as voice recognition, that are being used today.
• In 1981 IBM introduced its first computer for the home user, and in 1984 Apple introduced the Macintosh.

Reasoning (Statements And Course Of Action)

Statements And Course Of Action

STEPS TO EVALUATE A COURSE OF ACTION

If we analyse the questions asked in the examinations till now, we can classify the question into two patterns or types.

I. The first pattern talks of a problem and the suggested courses of action talk of a solution.

II) The second pattern talks of a situation or fact and the courses of actions are ways of improving that situation.

Type 1. Problem Solution Relation

In this type of pattern, the suggested course of action can be followed if.

1) It solves / reduces of minimise the problem

2) the solution or course of action is practically Possible.

Type II: Fact - Improvement Relation

i. This pattern is solved just by applying the same rules of

Type I. First we have to identify whether the fact or situation will improve due to the course of action mentioned. Second thing to do is to check whether the, course of action is practically possible.

GOLDEN RULE THE FINAL WORD

Never allow our personal perceptions to come into play while evaluating the suggested courses of action. We should always give importance to the way public departments and systems function and we should accept them even if we don't trust them. Our decisions and views should be impartial and impersonal.

Apart from these things, you need to take care of the following points while doing these type of questions :

i. Remember that the course of action should always be positive. Just put yourself in a situation and take the decision right. You don't need to get carried away emotionally or in any kind of psychological feelings.

ii. If the question is demanding to take any action against anyone, then try to search if he/she is repeating the mistake or not because you cannot take decisions just after listening to complaints.

iii. Try to do all questions from this section, even if two of your answers are correct and suppose three are wrong (out of five questions on course of action/statement-assumption), then also you will have positive 1.25 marks.

Below are the questions based on the Statement-Course of action :

Directions : In each question below is given a statement followed by two courses of action numbered I and II. A course of action is a step or administrative decision to be taken for improvement, follow up, or further action in regard to the problem, policy etc. On the basis of the information given in the statement. You have to assume everything in the statement to be true, then decide which of the two given suggested courses of action logically follows for pursuing.

Give answer:

(a) if only I follows

(b) if only II follows

(c) if either I or II follows

(d) if neither I nor II follows

(e) if both I and II follow

1. Statement : The inmates of Jail X are very dangerous people.

Courses of Action :

I) More security personnel should be deployed to guard the Jail.

II) Some inmates should be shifted to a different jail.

2. Statement : Power supply on state X is terribly poor.

Courses of Action :

I) The concerned authorities should immediately take measures to protect power theft. pilferage etc.

II) The government should buy excess power from the neighboring states.

3. Statement: The teenager was arrested by the police for taking drugs.

Courses of Action :

I) The teenager should be meted with corporal punishment by the police.

II) The teenager should be sent to a drug rehabilitation centre.

4) Statement: Corruption has become rampant in our society.

Courses of Action :

I) All corrupt persons should be brought to book.

II) We should all strive to make our society corruption free.

5) Statement : Floods may create havoc in the country this year too.

Courses of Action :

I) The Government should be on the alert to evacuate flood-affected victims.

II) People should not be afraid of floods.

6) Statement : The State Government has decided to declare "Kala Azar" as a notifiable disease under the Epidemics Act. 1987 . Family members or neighbours of the patient are liable to be punished in case they do not inform the state authorities.

Courses of Action :

I) Efforts should be made to effectively implement the Act.

II) The cases of punishment should be propagated through mass media so that more people become aware of the stern action.

7) Statement : Every year, at the beginning or at the end of the monsoons, we have some cases of conjunctivitis, but this year it seems to be a major epidemic witnessed after nearly four years.

Courses of Action :

I) Precautionary measures should be taken after every four years to check this epidemic.

II) People should be advised to drink boiled water during winter season.

8) Statement : A recent study shows that children below five die in the cities of the developing countries mainly of diarrhoea and parasitic intestinal worms.

Courses of Action :

I) Governments of the developing countries should take adequate measures to improve the hygienic conditions in the cities.

ii) Children below five years in the cities of the developing countries need to be brought under constant medication.

9) Statement : One of the problems facing the food- processing industry is the irregular supply of raw material to other industries also.

Courses of Action :

I) The government should regulate the supply of raw material for the food processing industry.

II) The government should annouce an attractive Package to ensure regular supplly of raw material. The producers of raw material are not getting a reasonable price.

10) Statement : Most the development plans develop on paper only.

Courses of Action :

I) The incharge should be instructed to supervise the field - work regularly.

II) the supply of paper to such departments should be cut short.

1)a I is desirable because tighter security arrangements are needed for dangerous people. II is ruled out because its efficacy is in doubt.

2) e Both I and II are established facts and hence both I and II follows.

3) b It is an established fact that a teenager who takes drugs will never stop it if he is beaten by the police. But the right action is to take him to a rehabilitation centre. Hence only II follows.

4) d Both I and II are vague. It lacks substance. Nothing concrete is being said here.

5) a If floods occur this year too, I is likely to yield positive results. II is a negative approach. We must refrain from panic but a healthy fear is desirable.

6) e When the Government takes such an action it is necessary that people are made aware of the consequences they would face if they do not obey the directive . Hence II follows. I is obvious.

7) d Against an epidemic, precautionary measures should be taken every year and not every four years. Hence I does not follow. II is not a preventive action against conjunctivitis. Hence II also does not follow.

8) a To improve the hygienic conditions is always a welcome step and in view of the statement it becomes even more necessary. Hence, I unquestionably follows. But II does not. We should not medicate any child unless he has actually contracted the disease. Prevention is all right but curing should begin only after the disease has been contracted.

9) b I is an absurd suggestion. When one industry is facing trouble because of regulations, it talks of regulating the supply of other industrial raw materials too. II is a better action because it would tend to solve the problem.

10) a The Statement mentions a problem that most of the development plans develop on paper only. They are not materialised in reality. This problem could be solved if field work was supervised properly. Hence I follows. But II is a absurd suggestion. The issue is lack of actual field work and not misuse of paper.

Reasoning (Tricks To Solve Syllogism Questions Quickly 1 to 2)

Tricks To Solve Syllogism Questions Quickly

 

To solve the Syllogism section for IBPS Exam you need to know the following thing that includes all about syllogism as well as the tips and tricks to solve it.

What is Syllogism?

It is a kind of logical argument in which the conclusion is inferred form the premise. You will be given one preposition which is generally the conclusion and you have to infer from two or more such statements.

For example:

Premise 1: All men are fathers.

Premise 2: All fathers are caring.

Conclusion: All men are caring.

The standard way of solving a Syllogism is with the help of a Venn diagram. But in the exam you will not be able to draw a Venn diagram because of the time limit. To help you, here are some basic tips and tricks to solve the problems:

SHORTCUT RULES BETWEEN TWO STATEMENTS WHICH ARE IN THE ORDER:

• All + All = All
• All + No =No
• All + Some = No conclusion
• Some + All = Some
• Some + Some = No Conclusion
• Some + No = Some Not
• No + No = No Conclusion
• No + All = Some not reversed
• No + Some = Some not reversed

Cancel out the common terms in the given two statements and on the remaining terms, apply Syllogism rules and solve. The very first step is never assume. In syllogism a cat can either be a human or a dog can be a bird if the statement says so. All you have to do is to completely forget what you know and follow what the statement is saying.

REMEMBER SOME IMPLICATIONS:

• All <=> some, for example : All A are B also implies that some A are B and Some B are A
• Some <=> Some, for example: Some A are B also implies that some B are A
• No<=> No, for example :No A are B also implies that No B are A

Step 1: Classification of statements

Usually each statement has the following format:

“abc subject is/are (not) predicate.”

e.g.

All Cats Are Dogs.

Some Pigs Are not birds.

Based on the usage of “xyz” and “not”, the classification of the statements is as following

1. All cats are dogs: Universal Positive (UP)
2. Some dogs are birds: Particular Positive (PP)
3. No bird is a pig: Universal Negative        (UN)
4. Some pigs are not birds: Particular Negative (PN)

You have to remember the following words. You classify the statement accordingly whenever they are used:

• Universal (positive or negative): All, every, none, only, not a single, any etc.
• Particular (positive or negative): Some, many, a few, not many, most of, almost, generally, quite a few often, very little frequently, etc.

STEP 2: Standard Format – Conversation

Priority order: PP>UN>UP

Basically, a 2 premise Syllogism should the following basic form:

1. A—>B
2. B—>C

If in case it is not, then you should convert it to the above format.

NOTE:

• Question statements should have only three terms. Like A, B and C, as shown above.
• In the exam, if you encounter two question statements with four or more terms then you should be relieved! All you have to do is check the answer “no conclusion can be drawn”

E.g. if the statements are

1. All cats are birds
2. Some dogs are pigs

A–>B

C–>D

Here owing to four terms (cats, dogs, birds, and pigs) no conclusion can be drawn.

CONVERSION:

Now you have to learn how to convert the statements.

Universal Positive (UP)

Given Statement: All Cats are Dogs

The valid conversations can be:

• Some Cats are dogs (Particular Positive)
• Some dogs are cats (Particular Positive)

Hence, UP can be converted into PP.

Note: Only A is B –> All B are A

If the statement is “Only Birds are cats”, then better convert it into “All cats are Birds”.

Universal Negative (UN)

Given Statement: No Cats are pigs

Valid conversations can be:

• Some pigs are not cats (Particular Negative)
• No pigs are cats (Universal Negative)

Hence, UN can be converted to PN or UN.

Particular Positive (PP)

Given Statement: Some Cats are Dogs

Valid conversations can be:

Some dogs are cats (Particular Positive)

It means PP can be converted into PP only.

Particular Negative (PN)

In Particular negative statements, no conversion can be made.

Example: Some Cats are not Dogs

Hence,

• Universal Positive (UP): Only PP
• Universal Negative (UN): PN or UN
• Particular Positive (PP): Only PP
• Particular Negative (PN): Not possible.

 STEP 3: No Conclusion Combos

When two question statements are in following format, they are the non-conclusion combos:

• Universal Positive (UP), Particular Positive (PP), Particular Negative (PN)
• Universal Negative (UN), Universal Negative (UN), Particular Negative (PN)
• Particular Positive (PP), Particular Positive (PP), Particular Negative (PN)
• Particular Negative (PN), Any other (UP, UN, PP, PN)

For all the above combos, the answer would be no conclusion.

STEP 4: Conclusive Combos

Universal Positive (UP) + Universal Positive (UP) = Universal Positive (UP)

Universal Positive (UP) + Universal Negative (UN) = Universal Negative (UN)

Universal Negative (UN) + Universal positive (UP) = Particular Negative (PN)

Universal Negative (UN) + Particular Positive (PP) = Particular Negative

Particular Positive (PP) + Universal Positive (UP) = Particular Positive (PP)

Particular Positive (PP) + Universal Negative (UN) = Particular Negative (PN)

If we take the first statement from A to B and the Second statement from B to C, then the conclusion is usually in the format of A to C except when first statement is Universal Negative (UN).

 

BONUS TIPS FOR SIMPLIFYING SYLLOGISM PROBLEMS:

1. The First Tip to crack the Syllogisms is to NEVER ASSUME. A cat can be a human and a dog can be a bird if the statement says so then follow the statement even when you know both dogs and cats are animals. Forget what you know and follow the condition of the statement.
2. If a two related statement begins with All and followed by Some, it will conclude with Some
3. If a two related statement begins with Some, followed by All it will conclude with All
4. If two related statements begins with All and followed by No, it will end with NO
5. If two related statements begin with All and is followed by All, it will end with All
6. If two related statements begin with Some and is followed by Some the conclusion will in most cases be None
7. If No two statements are related the answer will be No Conclusion
8. Reverse also applies:
   
   • It means if the statement says All X is Y then it means that Some Y will also be X
   • If it says Some B is W it also means that Some W is B
   • If it says No Y is X then also means that No X is Y

 

Syllogism Concepts Part II

A statement has many conclusions (cases)

And thus, so many diagrams are possible!!

In possibility questions, the examiner asks if there exists any such case (diagram) where this conclusion is valid. So, you job is to find out this case. If there exists at least one such case, then the conclusion holds true. If not, then the conclusion is false. As simple as that!

Keeping this and also the previous Syllogism Post in mind, let’s solve some possibility questions.

Abbreviations that I used:

Basic Diagram = BD

Modified Diagram = MD

Question 1:

 Statements:

A. All flowers are trees

B. Some trees are houses

C. All houses are wheels

Let’s first make a BD according to these statements.

Conclusions:

1. At least some wheels are trees

2. Some trees are flowers

3. All wheels are flower is a possibility

Now, see the BD,

Conclusion 1 clearly follows. 

Conclusion 2 also clearly follows. 

But, what about Conclusion 3?

Let’s make a MD and see if it follows or not!

In the MD, we can clearly see that all the statements are still valid, and Conclusion 3 also is following. So, Conclusion 3 follows. 

• 1? Follows
• 2? Follows
• 3? Follows

Understood?

Let’s now solve another question!

Question 2:

Statements:

A. Some desks are chairs

B. Some chairs are pens

C. Some pens are drawers

First, make a BD according to these statements. 

Conclusions:

1. At least some drawers are desks

2. There is a possibility all drawers are chairs

3. No drawer is a chair

Now, see the BD

Conclusion 1 clearly doesn’t follow. 

But, what about Conclusion 2?

Let’s make a MD

See the MD, Conclusion 2 follows in it.

And if there is a possibility that All drawers are chairs, then how could No drawer is a chair follow?

So, Conclusion 3 will not follow! 

• 1? Doesn’t follows
• 2? Follows
• 3? Doesn’t follows

Understood?

Let’s solve another one!

Question 3:

Statements:

A. All politicians are corrupt

B. Some politicians are honest

C. No leader is honest

First, make a BD according to these statements.

Conclusions:

1. Some politicians are not leader

2. All honest being corrupt is a possibility

3. Some leaders are not corrupt

Now, see the BD, 

Some politicians, which are honest (Red Portion), cannot beleaders. 

So, Conclusion 1 clearly follows. 

But, what about Conclusion 2?

Let’s make a MD.

See the MD, Conclusion 2 clearly follows!

What about conclusion 3?

Let’s make another MD.

See the last diagram, All leaders are corrupt could be a possibility! So, Conclusion 3 doesn’t follow. 

• 1? Follows
• 2? Follows
• 3? Doesn’t follows

Understood?

Question 4:

Statements:

A. Some people are intelligent

B. All intelligent are honest

C. No intelligent is smart

First, make a BD according to these statements.

Conclusions:

1. Some honest are not smart

2. All people being honest is a possibility

3. Some honest are people

Now, see the BD, 

Some honest, which are intelligent (Red Portion), cannot be smart. 

So, Conclusion 1 follows.

But, what about Conclusion 2?

Let’s make a MD.

See the MD, Conclusion 2 clearly follows.

Conclusion 3 also follows. 

• 1? Follows
• 2? Follows
• 3? Follows

Understood?

Question 5:

Statements:

A. Some writers are poets

B. All poets are singers

C. Many singers are actors

D. No singer is a dancer

First, make a BD according to these statements.

Conclusions:

1. Some writers are singers

2. Some actors are not dancers

3. All poets being actor is a possibility

4. No poet is a dancer

See the BD, 

Conclusion 1 clearly follows.

Also, some actors, which are singers (Red Portion), cannot be dancers. 

So, Conclusion 2 also follows.

But, what about Conclusion 3?

Let’s make a MD.

See the MD, 

Conclusion 3 clearly follows.

Also, since no singer is a dancer, so, no poet is a dancer. 

Hence, Conclusion 4 is also following!

• 1? Follows
• 2? Follows
• 3? Follows
• 4? Follows

Understood?

Aptitude (Percentage I to II)

Percentage I

Percentage: 

The word defines itself Per means 1 upon something and Cent Is like Paise. In India we have 1 rupee = 100 paise

So per cent = 1/100 Part of something or %[ This sign even means 1/100] So if i say 20% of something Just multiply that something by 20/100 or 0.2

Like wise if is say 30% then it simply means i want to know 30/100th or 3/10th part value of something.

Why Do we Use percentage ?

Basically It is used for comparison.

Like If i say i got 400 marks in 10th and the other guy says that he got 600 marks in 10th. So Numerically He has got more marks than me  But does his score is relatively better than me ?

For that purpose we must know that He got 600 marks out of how many marks. Let's say he got 600 out of 1000. So his percentage marks will be 60%

And I got 400 out of 500. So my % marks will be 80%.

Now you can easily say that My marks are better because i am getting 80% and he is getting 60%.

How to calculate Percentage [ You all know it but just say I am telling it to myself :P ]

Well the simple formula is [Value/total value] * 100

For example A  Ring Contains 63 gm of Gold and total weight of ring is 70 gm. Find the percentage of Gold in the ring ?

So By the Formula [Value/Total Value]*100

[63/70]*100

[9/10]*100

90%.

% to Decimal Conversion or Fraction Conversion.

Just remember in Fraction Conversion we leave the fraction as it is without Converting Into Decimal. While in Decimal Conversion we first convert into fraction then Write the Decimal Value of that fraction.

Very easy You just have to dive by 100 nothing else.

For example 30% = 30/100 = 0.3

21% = 21/100 = 0.21

99% = 99/100 = 0.99

60% = 60/100 or 3/5 = 0.6

Case 1 [ Percentage of Quantity ]

Find the no. of male Students i.e boys, If there are 47% male students in the school and Total no. of students in the school is 1000.

As i said If you See anywhere % of something. Just convert the no. into it decimal value and multiply by that Something.

So in the above Question Boys are 47%[ Convert this into Decimal and you will get 0.47]  of 1000 [ Something] 

So what we gonna do friends we will just multiply it by 0.47 

So the no. of Boys will be 0.47*1000 = 470.

Lets See another Example.

A student scored 85% marks. Total marks are 400. How much marks did he score.

So a student got 85% marks out of 400

So again 85%[ Convert 85% in decimal i.e 0.85] of 400 [something]

So the answer will be 0.85*400 = 340 

so 340 is our answer.

Well they can also Change the Final Question.

Like in First Example they asked Find the no. of male students. They could have asked the no. of students that are not male.

So what we should do in that case. Nothing to worry my friend just do the usual job 47% are male that means that the rest 53% are not male now calculate 535 of 1000 that will be your answer i.e 530

Case 2 [ Inverse Case]

Now in the case 1 we were just asked to Find the % value something. But What if % value of something is given and we have to find the Total Value. ?

Now to worry below example will make it clear.

30% of a Number is 150. What is the number.

So after examining the question we can say that 30% of Some number is 150[ But we don't know yet what is the original number]

When we don't know about something Just Assign a variable to that value.

So we say that the Original Number is x

So as mentioned in the question 30% of x = 150

[ Convert 30% into decimal] 0.3*x= 150 

0.3x = 150

x = 150/0.3 

x = 500

So you see it's Quite easy.

Likewise Many Different Question can be formed on the same logic. Lets discuss 1

There are 200 girls in the class and girls and girls make up 25% of the class. Find the total No. of students in the class.

We don't know the No. of students so assume that no. of students is x

So what is given in the Question.

25% of Total Students in the class are Girls and Total Girls in the class is 200

lets just try convert above [English] Statement into mathematical Form

25% of x = 200

0.25*x = 200x = 200/0.25

x = 800

So total no. of students in the class = 800.
Case 3 - Percentage Change.[ Very Important For DI] 

The simple Way to put that is [( Change in Quantity/ Original Quantity) *100 ] Also [change in quantity = Final Quantity - Initial Quantity]

Note- The quantity in whose respect % change is asked is considered as the base By base i mean the original value in the above formula.

Let me make it clear to you with the help of Some Example.

The height of Nikhil some times ago was 160cm. Now his height is 200cm. Find the % change in his height?

So if we analyse the above question We can say that all we have to calculate is the % change in the height of  Nikhil with respect to his Earlier Height.

So now lets apply the formula here [( Change in quantity/ Original Quantity) * 100]

Which will be [{( 200-160)/160} * 100 ]

[{40/160}*100]

[(1/4)*100]

25%

So the % change in height = 25%.

Case 4- Use of Base Value and With Respect To Cases[ Very very Important For DI]

Suppose Salary of  Raman is 80,000 and Salary of Ved is 1,00,000. The questions are 

What per cent is the salary of Ved to that of Raman?

It's a very simple Question If you just know in whose respect you have to find the %.

Now in the above Question we have to find the % of ved salary with respect to ELF's Salary [ remember jiske respect me % nikalna hota hai Wohi base hota hai ] 

So here we have to find Ved's Salary with respect to Raman So we use the formula [ (Value/ In whose respect it is asked)*100]

So ved's salary in respect to Raman's salary will be [ (1,00,00/80,000)*100 ] = 125%

So VED's Salary is 125% of Raman's Salary.

If the question was just opposite.

Like What percent is the salary of Raman to that of Ved. (In this Question the Base will be Ved's Salary)

So lets just apply the formula [ Value/ In whose respect it is asked) * 100]

(80,000/1,00,000)*100 = 80%

So elf's salary is 80% of VED's Salary.

Case 5 - Product Constancy [ Most Important Because With it's Application You can also solve Questions related to Time and Work, Speed Time Distance,  Average etc. This Concept has a very huge application]

i - Speed*Time = Distance

ii- efficiency*time = work

ii- Length*breadth= area

iv- Average*No. of elements = Total value

v - rate*quantity = Expenditure

let me make you clear with an example.

The price of sugar is increased by 25% then by how much per cent should a customer reduce the consumption ( i.e quantity used) Of sugar so that he has not increase his expense on Sugar.

Just remember  If one factor of product constancy is increased by P% then the other factor will be decreased by [(p)/(100+p) * 100] To maintain the Product Constancy.

Now in the above Question The rate of sugar is increased by 25% So by how much % we should reduce the quantity to maintain the same expenditure 

Just apply the above formula [(p)/(100+p)*100]  = (25/125)*100 = 20%

Now It sound Simple but It is difficult to remind these formulas at the time of Solving Question So let me Give you simple method of learning this Formula.

Just Imagine In Your mind that the Quantity is 100. Ok

if the value is inreased by 25 % how much should the consumption be reduced.  

Now all you have to remember is [(How much % value is Increased/ What it becomes after increase) * 100 ]

No as i said In your mind the Quantity is 100. How much the value is increased in the above Question yeah 25% 

And how much it will become after 25% increase if the Quantity was 100 yeah That will be 125. So the answer will be 

(25/125)*100 = 20%

lets try again If the price of petrol is increased by 50%. By how much % the consumption be reduced so the expenditure remains same.

Just apply the formula How much increased = 50

What it will become after 50% increase = 150

% redcution required = (50/150)* 100 = 33.33%

In the same way you can also use the same formula for calculating just the opposite.

For Example If the price of Sugar is reduced by 20% by how much should the family increase it's consumption So the expenditure remains same?

How much % decrease ? = yeah it is 20%

What it will become after 20% decrease = Yeah 80 

So Increase required = (20/80)*100 = 25%

lets do one more question.

The price of petrol is reduced by 33.33% but how much % should a person increase his consumption so that His expenditure remains constant.

How much decrease = 33.33

What it will become after 33.33% decrease = 66.66

So % increase required = (33.33/66.66)*100 = 50%

The Length of Rectangle is Increased by 25% By what % the breadth be reduced so that are remains Constant?

Try Again How much Increase 25

What it becomes 125

% to be reduced = (25/125)*100 = 20%

Same way the Question of Time Speed Distance can also be solved But i will teach that when i will Explain Time Speed And Distance.

Case 6 - Increase or decrease In value to Get Back the Original Value.

Remember if a value P is increase by x % then we have to decrease the resultant value by 

[{ x/(x+100)} *100]% to get back the original value.

For Example Rocky's Salary is 1000rs and it Increased by 10%. How much % His salary must be Decreased So that he Gets His original Salary.

Apply the above Formula [{x/(x+100)}*100 = [ {10/(100+10)}*100] = 100/11 or 9.09090% 

In case of Decrease.

The formula will be [ {x/(100-x)}*100]%

Rocky Salary is 1000 and it is decreased by 10%. By how much % his salary must be increased so that he gets His Original Salary.

Apply the formula here [{10/(100-10)}*100]% = 100/9 % or 11.11% 

But Instead of Doing All this BS you can Also Apply My previous formula here.

Like Salary Increased 10. what wit will become 110.

How much it should be reduced = (10/110)*100 = 100/11 = 9.09%

Again Salary decreased = 10, What it will become 90.

So how much it should be increased to get the original salary = (10/90)*100 = 100/9 = 11.11%

CASE - 7 Concept of "by" and 'to"

Please note that there is very Big Difference between by and to.

Eg . The income is reduced BY 40% it means the New  Income 60% of the original value.

And If income is to 40% it means The new Income is 40% of the Original Value.

Case 8 - Consecutive Increase in Percentage.

Suppose the Salary of Sumit is first increase by 20% and Then again it's Increased by 20%.

What is the Total Percentage Increase in His Salary.

Now don't try to be smart here and just add 20% and 30%And say That it's 50% Increase-- THAT WILL BE TOTALLY WRONG.

Actuall let me make the Picture a Little bit Clear. What actually Happens in the case of Consecutive Increase and Decrease.

Now Just Suppose that The Salary of Sumit was 1000 Rs. it gets Increased by 20% so What it will become ? Yeah you are right 1200rs.

Now When it is Again Increased by 30% Then we are Calculating that 30% increase on 1200RS ans not on 1000 So the Inrease will be 30% of 1200 which will be 360. So increased salary will be 1200 + 360 = 1560.

Now are two Shortcut Methods Here.

1st Simple Multiplication.

When I say Something is increased by 20% It means It's Value Is increased by 20 % or It's Total value is 120% of the original Value Ok ? 

Like 100 is incresed by 20% That means it's final value will be 100 + 20% of 100 = 100 + 20 = 120.

So if  Sumit  Salary is Increased By 20% that the Value will be 100*1.2.

And If it's Again increased by 30% then the value will be 100*1.2*1.3 = 100*1.56 = 156.

Total increase = 56.

Percentage Increase = 56%

2nd Method Formula Approach.

Well the formula is [x + y + (xy)/100]% [Note this formula works only when there is 2 increases]

Now apply the formula in above Question you will get 20 + 30 + (20*30)/100 = 50 + 600/100 = 50 + 6 = 56%

Same Sumit's Salary is 1000rs and if it's asked the Salary of Sumit is Increased First by 20% then 30% and then again by 40% then what will be Total Increase and Final Salary.

It's Pretty simple now 1000*1.2*1.3*14 = 2184 

That's the final Salary and % inrease = [(2184-1000)/1000]*100 = (1184/1000)*100 = 118.4% 

Some Similar Questions Are like.

The Side of Square is Increased by 10% what will be the increase in Area. 

So Just Let The Value of Eaxh side is x, If it's Increased by 10% Then it will become 1.1x

As You know are = Side*side

So Initially The Area without Increase Would Have been x*x = x^2

After Increase the Area will be 1.1x*1.1x = 1.21x^2

So total % increase in area will be 21%.

Case -9 Consecutive Increase and Decrease Simultaneously

In the last case we saw the case of % increase but now we will learn how to solve when there is a consecutive Increase and as well As decrease.

It's same as the last example.

Sumit's Salary is 1000rs Suppose the salary of Megamind was first Increased by 30% and Then decreased by 20%. What will be final Increase or Decrease in His Salary.

Just do The same Thing 30% increase means 1000*1.3

And then 20% Decrease mean 0.8times [ remember we have to decrease here and 20% decrease means 0.2 Point decrease] 

So total decease = 1000*1.3*0.8 = 1040.

Final Increase = 40RS

% Increase will be 4%.

With Formula.

Remember the formula x + y + (xy)/1000

Same formula can be used here But remember Increase means +ve Sign and decrease means -ve sign,

So apply here now 30 - 20 + (30)(-20)/100 = 10 - 600/100 = 10 - 6 = 4%

Percentage II

Quant Handy Concepts and tricks: "Percentage"

Percentage

The term per cent mean 'for every hundred'.
"A per cent is a fraction whose denominator is 100 and the numerator of the fraction is called the rate per cent." Per cent is denoted by the sign '%'.

Concept  to Caluculate Per cent
If we have to find y% of x, then 
y% of x=(x*y)/100

Conversion of Per Cent into Fraction

Expression per cent (x%) into fraction.
Required fraction=x/100

Conversion of fraction into Percentage

Expressing a fraction (x/y) in per cent.
Required percentage=(x/y)*100)%

Expressing One Quanity as a Per Cent with Respect to Other

To express a quantity as a per cent with respect to other quantity following formula is used.
(The quantity to be expressed in per cent)/ (2nd quantity (in respect of which the per cent has to be obtained))X100%

Important Concept and Tricks  

1. If x% of A is equal to y% of B, then
z% of A=(yz/x)% of B

2. When a number x is increased or decreased by y%, then the new number will be
(100+y)*x/100


3. When the value of an object is first changed (increased ) by a% and then changed (increased ) by b%,then
Net effect=[a+b +ab/100]%

4. Suppose in an examination, x% of total number of students failed in subject A and y% of total number of students failed in subject B and z% failed
in both the suject. Then,
(i) Percentage of students who passed in both the subjects=[100-(x+y-z)]%
(ii) Percentage of students who failed in either subject=(x+y-z)%

5. If due to r% decrease in the price of an item, a person can buy A kg more in Rs.x, then
Actual price of that item= Rs (rx)/((100-r)A) Per kg

Example :If due to 10% decrease  in the price of sugar ,Ram can buy 5 kg more sugar in Rs 100 , then find the actual Price of sugar ?

solution : Here r = 10 % ,x = 100 and A = 5 kg
Actual price of sugar = 10*100/((100-10 )*5) =  Rs. 2(2/9)

6.If the population of a town is P and it increases at the rate of R% per annum, then
(i) Population after n yr= P(1+r/100)^n
(ii) Population, n yr ago=P/(1+r/100)^n

7. If the present population of a city is P and there is a increment  of R1%, R2% ,R3% in first, second and third year respectively, then

Population of city after 3 yr=P(1+R1/100)(1+R2/100)(1+R3/100)

Example : Population of a city in 20004 was 1000000. If in 2005 there is an increment of 15 % , in 2006 there is a decrement of 35 % and in 2007 there is an increment of 45 %, then find the population of city at the end of the year 2007.

solution : Required population = P (1 + R1/100)(1 - R2/100)(1 + R3/100)

= P (1 + 15/100)(1 - 35/100)(1 + 45/100)
= 1083875

Aptitude (Average I to II)

Average I

Quant Handy Concepts and Tricks: Average

Average

An average or an arithmetic mean of given data is the sum of the given observations divided by number of observations.

Important Formulae Related to Average of numbers

1. Average of first n natural number=(n+1)/2

2. Average of first n even number= (n+1)

3. Average of first n odd number= n

4. Average of consecutive number= (Firtst number+Last number)/2

5. Average of 1 to n odd numbers=  (Last odd number+1)/2

6. Average of 1 to n even numbers=  (Last even number+2)/2

7. Average of squares of first n natural numbers=[(n+1)(2n+1)]/6

8. Average of the cubes of first n natural number=[n(n+1)^2]/4

9. Average of n multiples of any number=[Number*(n+1)]/2

Concept 1 

If the average of n_1 observations is a_1; the average of n_2 observations is a_2 and so on, then

Average of all the observations=(n_1* a_1+n_2 *a_2+......)/(n_1+n_2+........)

Concept 2 

If the average of m observations is a and the average of n observations taken out of  is b, then

Average of rest of the observations=(ma-nb)/(m-n)

Example 1 : A man bought 20 cows in RS. 200000. If the average cost of 12 cows is Rs. 12500, then what will be the average cot of remaining cows?

Here m = 20 , n = 12 , a = 10000 , b = 12500 

average cost of remaining cows ( 20-8) cows = (20*10000 - 12*12500)/(20-8) =Rs  6250

Concept 3 

If the average of n students in a class is a, where average of passed students is x and average of failed students is y, then

Number of students passed=[Total Students (Total average-Average of failed students)]/(Average of passed students-Average of failed students)

=[n(a-y)]/(x-y)

Example 2: In a class, there are 75 students are their average marks in the annual examination is 35. If the average marks of passed students is 55 and average marks of failed students is 30, then find out the number of students who failed.

Here , n = 75 , a = 35 , x = 55 , y = 30 

Number of students who passed = 75(35- 30)/(55- 30) = 15

Number of students who failed  = 75- 15 = 60

Concept 4

If the average of total components in a group is a, where average of n components (1st part) is b and average of remaining components (2nd part) is c, then Number of remaining components (2nd part)=[n(a-b)]/(c-a)

Example 3 : The average salary of the entire staff in an offfice is Rs. 200 per day. The average salary of officers is Rs. 550 and that of non-officers is Rs. 120. If the number of officers is 16, then find the numbers of non-officers in the office.

Here n= 16 , a = 200 , b = 550 , c = 120 

Number of non - officer = 16(200- 550)/(120- 200) = 70 

Average Speed

Average speed is defined as total distance travelled divided by total time taken. 

Average speed=Total distance travelled/ Total time taken

Case 1

If a person covers a certain distance at a speed of A km/h and again covers the same distance at a speed of B km/h, then the average speed during the whole journey 

will be 

2AB/A+B

Case II

If a person covers three equal distances at the speed of A km/h, B km/h and C km/h respectively, then the average speed during the whole Journey will be 

3ABC/(AB+BC+CA)

Case III

If distance P is covered with speed x, distance Q is covered with speed y and distance R is covered with speed z, then for the whole journey,

Average speed=(P+Q+R+.....)/(P/x+Q/y+R/z+...)

Example 4 : A person covers 20 km distance with a speed of 5 km/h, then he covers the next 15 km with a speed of 3 km/h and the last 10 km is covered by him with a speed of 2 km/h. Find out his average speed for the whole journey. 

 Average speed  =  ( 20 +15 +10)/(20/5+15/3+10/2) = 3(3/14)

Case IV

If a person covers P part of his total distance with speed of x, Q part of total distance with speed of y and R part of total distance with speed of z,then

Average speed=1/(P/x+Q/y+R/z+......)

Average II

Concept and Tricks With Quiz on Average for SBI PO 2016

Average
An average or more accurately an arithmetic mean is, in crude terms, the sum of n different data divided by n.

 Averages of a group is defined as the ratio of sum of all the items in the group to the number of items in the group.

Average = (Sum of all items in the group)/ Number of items in the group

Now, sum of all items can be ‘the sum of number of quantities like apple, people etc’ or ‘sum of values of the item like 10 coins of 2Rs each etc’.

Some Important Concepts:

1.Average =total of data/No.of data

2.If the value of each item is increase by the same value a, then the average of the group or items will also increase by a.

3.If the value of each item is decreased by the same value a, then the aveage of the group of items will also decrease by a.

4.If the value of each item is multiplied by the same value a, then the average of the group or items will also get multiplied by a.

5.If the value of each item is multiplied by the same value a, then the average of the group or items will also get divided by a.

6.If we know only the average of the two groups individually, we cannot find out the average of the combined group of items.

7.Average of n natural no's=(n+1)/2

8.Average of even No'=(n+1)

9.Average of odd No'= n

10.General Formula=(1st number +Last number)/2

Marketing (Quick Notes I to VI)

Quick Notes I

Quick Notes on Marketing for SBI PO 2015

• Many new readers come on BA who might not be aware about it. 
• For the revision purpose
• For upcoming exams
• And the most important of all, as a token of RESPECT for these extremely superb posts

So, we have decided to dug out these post for the upcoming SBI PO 2016 Exam. Here we are posting Some Quick Notes on Marketing which might be helpful for the exams. Hope you all like the post!

Marketing:

Marketing is nothing but to Tell about your product and to sell it.

The technical definition is

“Marketing is the process of planning and executing the concepts, pricing, promotion and distribution of ideas/goods/services to satisfy individual's/organizational”.

Marketing is the process of communicating the value of a product or service to customers, for the purpose of selling that product or service.

There are several types of marketing are there, some of them are

• Bench Marketing: The Bench Marketing is nothing but the comparison of the business processes with competitors and improving prevailing ones.
• Drip Marketing: Drip Marketing is sending promotional items to Clients.
• Viral Marketing: Viral Marketing is marketing by the word of the mouth, having a high pass rate from person to. The best example for this is creating a 'buzz' in the industry.
• Guerilla Marketing: Guerilla Marketing is an Unconventional marketing intended to get maximum results from minimal resources (Maximum results from Minimum resources)
• Social Media Marketing: Marketing using online communities, social networks, blog marketing etc is called the social media marketing.
• Internet Marketing: M marketing of products or services over the Internet is called Internet Marketing. It is also known as i-marketing, web-marketing, online-marketing, Search Engine Marketing (SEM) and e-Marketing.
• Digital Marketing: The marketing which uses digital advertising is called digital marketing. Television, Radio, Internet, mobile etc.
• Direct Marketing: If the company directly reaches to the customers on a personal basis (ex : phone calls, private mailings, etc) rather than traditional channel of advertising (like TV, Newspapers, etc) then that type of marketing is called the Direct Marketing. There are a number of types in direct marketing. Some of them are

1. Direct Mail Marketing: Advertising material sent directly to home and business addresses (This is the most common form of direct marketing)
2. Telemarketing: It is the second most common form of direct marketing, in which marketers contact consumers by phone.
3. Email Marketing: This type of marketing targets customers through their email accounts (you might have observed them in your e mails too)

• Indirect Marketing: It is the distribution of a particular product through a channel that includes one or more re-sellers.

Difference between Direct and Indirect Marketing:

Direct marketing is where the consumer hears about a product or service from a sales person or associate, representing the company offering the product or service.

Indirect marketing is where the consumer hears about a product or service from a third party. The third party could consist of word of mouth from another customer, radio, television, newspaper, or billboards.

For example, an advertisement may ask the prospect to call on a free phone number, mail in a response or order, or click on a link to a website. This is an example of marketing is Direct Marketing.

Example of Indirect marketing is Katrina Kaif, as she markets LUX but she doesn’t own that company.

Product Life Cycle (PLC): Product life cycle is a business analysis that attempts to identify a set of common stages in the life of commercial products. In other words the 'Product Life cycle' PLC is used to map the lifespan of the product such as the stages through which a product goes during its lifespan.

IMPORTANT ABBREVIATIONS:
Ad: Advertising

MKT: Marketing

B2B: Business to Business

F500: Fortune 500

EM: Email

DM: Direct Mail

ABM: Account Based marketing

TAP: Targeted account programs

DM: Digital Marketing

SE: Search Engine

SERP: Search Engine Results Page

SEM: Search Engine Marketing

SEO: Search Engine Optimization

SMM: Social Media Marketing

SMO: Social Media Optimization

PPC: Pay Per Click

PPA: Pay Per Action

PPI: Pay Per Impression

PPL: Pay Per Lead

CTR: Click through rate

CPC: Cost Per Click

CPL: Cost Per Lead

CPS: Cost Per Sale

CMS: Content Management System

CRM: Content Relationship Management

MAP: Marketing Automation Platform

SFA: Sales Force Automation

BI: Business Intelligence

MLM: Multi Level Marketing

FDI: Foreign Direct Investment

POP: Point of Purchase Display

R&D:  Research and Development

UPC: Universal Product Code

POS: Point of Sale Display

ROI: Return on Investment

CLS: Costumer Location System

RPM: Resale Price Maintenance

VAT: Value Added Tax

CR: Concession Rate

DRA: Direct Response Advertising

CLV: Customer Lifetime Value

eCommerce: Electronic Commerce

CRM: Customer Relationship Management

NPD: New Product Development

ROMI: Return on Marketing Investment

LTV: Life Time Value

BDI: Brand Development Index

CDI: Category Development Index

MR: Market Research

AIM: Alternative Investment Market

MS: Market Share

TMV: True Market Value

MAA: Marketing Authorization Application

MS: Market Surveillance

WOMM: Word of Mouth Marketing

IDRA: Industries Development and Regulation Act

UX: User Experience

GRS: Gross rating Point

BEP: Break Even Point

PAN: Permanent Account Number

IMF: International Monetary Fund

EOQ: Economic Order quality.

Quick Notes II

Quick Notes on Marketing for SBI PO 2016

• Market: It is a physical place or an environment where sellers and buyers meet together to exchange goods and services.
• Marketing: It is the sum total of all activities that are related to the free flow of goods from the producer to the customer. Getting the right goods & services, to the right people, at the right place, at the right time and at the right price.
• Marketing Management: It is the art and science of choosing target markets and getting, keeping and growing customers through creating, delivering and communicating superior customer value.
• Market Research: It is a process of collection and analyzing information regarding customer needs and buying habits, the nature of competition in the market, prevailing prices, distribution network, effectiveness of advertising media etc for arriving at a decision.
• Relationship Marketing: It is basically building mutually satisfying long term relationships with key parties like customers, suppliers, distributors and other marketing partners in order to earn and retain their business.
• Direct Marketing: It consists of a manufacturer selling directly to the final customer. It is also called zero level channel. The major examples are door-to-door sales, telemarketing, Internet selling etc.
• Packaging: It involves putting the goods in attractive packets according to the convenience of consumers. Well designed packages can build brand equity and drive sales. The package is the buyer's first encounter with the product and is capable of turning the buyer on or off.
• Personal Selling: It is a part of promotional activity. It involves communicating directly with the target audience through paid personnel of the company or its agents for making sales.
• SWOT Analysis:
• PEST Analysis:
• Marketing Mix (4P's):

               Product, Price, Place, Promotion

• Viral Marketing: Marketing by the word of mouth having a high pass route from person to person is called viral marketing. It can create a splash in the market place to showcase a brand and its noteworthy features.
• Product Policy: It is concerned with defining the type, volume and timing of the products a company offer for sale.
• Rights of consumers: Right to safety, Right to be informed, Right to choose, Right to be heard Right to seek redressal, Right to consumer education.
• Cross Selling: An exposure to various other unutilized services of the bank to a customer is called cross selling. It also includes identifying customer needs, matching the products to customer needs, convincing the customers of product benefits & responding to questions and objections of customers.
• SME's: It stands for Small & Medium Enterprises.
• Market Expansion: It is growth in sales through existing and new products by adopting competitive strategies. It includes expanding the total market, defending market share, expanding market share etc.
• Product Diversification: It refers to manufacturing or distributing more than one product by the producer or dealer.
• Marketing Plan: It is a written document that summarizes what the marketer has learned about the market place and indicates how the firm plans to reach its marketing objectives. It is the one of the most important outputs of the marketing process.
• Green Marketing: It is a new environment friendly marketing technique.
• Product Elimination: It is a process of removing product from the product line (it is a group of products that are closely related to each other).
• Drip Marketing: The method of sending promotional items to clients is called drip marketing.
• Selling: It is confined to persuasion of consumers to buy firm's goods and services. It involves the transfer of ownership of goods to create possession utility.
• Bench Marketing: A comparison of the business processes with competitors and improving prevailing ones is called bench marketing.
• Qualities of a good seller: Devotion to the work, Submissive, Sympathy, Active mind set, Communication skill, Creativity, Motivation.
• Prospect: A 'likely' interested customer of the bank is termed as a prospect.
• Customer Relationship Management (CRM): It allows the company to discover whom its customers are, how they behave and what they need or want. It also enables the company to respond appropriately, coherently and quickly to different customer opportunities.
• Call: In marketing, calling the prospective customer is known as a call.
• Sales Forecasting: It is the expected level of company's sales based on a chosen marketing plan an assumed marketing environment. It involves sales planning, sales pricing, distribution channels, consumer tastes etc.
• Motivation: It refers to inspiring one self and others to perform better.
• Branding: The essence of a product, its quality and competitiveness displayed in the form of letters, symbols and colours is known as branding.
• Sales Forecasting: The method of estimating volume of sales that a company can expect to attain within a planned period is called sales forecasting.
• Marketing for Growth: 
• Advertising: Any paid form of non-personal presentation and promotion of ideas, goods or services by an identified sponsor.
• Segmentation: The process of dividing a market into a number of sub markets is known as market segmentation. 
• Positioning: The development of marketing mix to influence a customer's perception of a brand is called positioning.
• Consumer Behaviour: A consumer's buying behaviour is influenced by cultural, social, personal and psychological factors.
• Promotion: When a marketer persuades a person or group of prospective buyers, the communication is termed as promotion.
• Product Life Cycle (PLC): It is the life period of product in the market. The different stages includes Introduction, Growth, Maturity, Decline.
• Bancassurance: Bancassurance simply means selling of insurance products by banks. In this arrangement, insurance companies and banks undergo a tie-up, thereby allowing banks to sell the insurance products to its customers.
• Consumer Goods: Goods meant for personal consumption by the households or ultimate consumers are called consumer goods. It includes items like groceries, cloths etc.
• Industrial Goods: Goods meant for consumption as use as inputs in production of other products orprovision of some service are termed as industrial goods.
• Demarketing: Marketing aimed at limiting market growth; for example, some governments practice demarketing to conserve natural resources, and organizations use a demarketing approach when there is so much demand that that are unable to serve the needs of all potential customers adequately.

Quick Notes III

SBI PO 2016: Quick Notes for Marketing

Quick Notes:

1. Marketing  is the process of communicating the value of a product or service to customers, for the purpose of selling that product or service.

2. Mass Marketing means marketing the mass produced goods.
3. Strategic marketing means decision making process that involves the analysis of the internal capabilities and external environment of a company.
4. Stimulation marketing means there is no demand for the product and people are not interested to purchase the product hence special offers are given to stimulate the people.
5. Synchrome marketing means irregular demand.
6. De-marketing means the demand for the product exceeds the supply.
7. Producer goods means goods which are priced high and required a few to produce other goods in the industry ex: lathe, motor etc
8. Consumer goods are required in large number and directly used by the consumer.
9. Derived goods means the demand for the product is derived from the demand of other products ex: the selling of stabilizer depends upon the selling of TV’s and refrigerator.
10. The client of an advertising agency is called Customer.
11. CRM means Customer Relationship Management.
12. Segmentation of consumer market is based on consumer characteristics and consumer responses.
13. B2B means – business to business
14. Database marketing is direct form of marketing.
15. A Buyers Market means supply exceeds demands
16. Niche market means a specified market for the target group.
17. HNI marketing means High Networth Individual.
18. Relationship marketing is useful for cross selling of products.
19. Good public relations indicate

• Improved marketing skills
• Improved brand image
• Improved customer service

20. Marketing functions includes

• Designing new products
• Advertisements
• Publicity
• After sales service

21. Effective selling skills depends on

• Effective lead generation
• Sales call planning
• Territory allocation
• Effective communication skills

22. Marketing channels mean

• Delivery period
• Delivery outlets
• Delivery time
• Delivery place

23. Marketing information means

• Knowledge level of marketing staffs
• Information about marketing staff
• Information regarding share market
• Knowledge of related markets

24. A DSA means Direct Selling Agent.

25. Service marketing resorted to in Insurance companies and banks.

26. Service marketing is same as

• Internet marketing
• Telemarketing
• Internal marketing
• Relationship marketing

27. Market segmentation helps to determine target groups.

28. The seven P’s of marketing

• Product
• Price
• Place
• Promoting
• Process
• People
• Physical Evidence

29. SWOT – Strengths Weakness Opportunities Threats.

30. Standard marketing practices include lowering the selling price.

31. USP of a product means Unique Selling Proposition.
“Rosser Reeves” coined the term USP.

32. MBO means Management by Objectives (“Peter Drucker”)

33. AIDA – Attention Interest Desire Action

34. BTL – Below the line

35. Right-time marketing is an approach to marketing which selects an appropriate time and place for the delivery of a marketing message.

36. A group of related products manufactured by a single company is called product line.

37. MDSS – Marketing Decision Support System.

38. Target group for the marketing of Internet Banking – All the computer educated customers.

39. Innovation means new ideas and product designing.

40. Service after sale is not the function of marketing staff.

41. A good seller should have the following quality/qualities

• Devotion to the work
• Sympathy
• Submissive

42. Planned cost service means – additional profit on same cost.

43. A non-traditional, low-cost, flexible and highly effective marketing is termed as Gorilla marketing.

44. The aim of successful marketing is to increase the outlet of the seller.

45. Low end market means a market for lower price products.

46. The strategy used to charge different prices for the same product is called price discrimination.

47. The system designed to support marketing decision making is – marketing information system.

48. Conversion in marketing means converting suspect into prospect.

49. MC means – Marginal Cost.

50. Personalized marketing (also called personalization, and sometimes called one-to-one marketing) is an extreme form of database marketing. Personalization tries to make a unique product offered for each customer.

Quick Notes IV

Marketing Notes

MARKETING: Marketing is a social and managerial process through which needs and wants of individual/organisation are satisfied by the exchange of goods and services.

NEED: Need can be defined as something that is necessary for survival.
Ex: Drinking water when thirsty is a need.

WANT: It can be called as different ways of satisfying need.
Ex: Drinking coca-cola(or frooti) when thirsty(options avail.)

Selling works on PUSH strategy,whereas marketing works on PULL strategy.

Selling is always a subset of marketing,marketing is a superset.Sales related with short term relations and marketing focuses on long term relations.

Purpose of selling is to make profit immediately.(Ex: general stores)

Purpose of marketing is to make customer satisfaction and to maintain long term relations.(Ex:DELL service)

Customer: A customer is the recipient of good/service/idea obtained from a seller.

Consumer: The one who consumed or utilises good/product is called as consumer. A customer may or may not be a consumer.
Ex: A father purchases a 5star for his son, here father is the customer and son is the  consumer.

Steps in marketing: 

• Marketing research 
• Product management 
• Price 
• Promotion 
• Place 
• After sales service 
• Feedback 

Types of consumer goods:
Consumer goods (such as bread, milk,paper, sugar) that are bought often and consumed routinely.

Impulse: Purchased suddenly on stimuli(Ex:chocolates kept at billing counter).
Shopping goods: Goods which are occasionally purchased,cost is moderate. People invest time and efforts.Brand may be considered.
Ex:Textiles,watches,costumes.

Special goods: Goods which are purchased very rarely as they are very expensive.one or two outlets are available.people are extremely brand conscious.
Ex: Jewellery,paintings,BMW cars.

Unsought goods: Even though customers are not interested,he/she forced to buy because of some obligations.
Ex: Insurance policies,ice box for the dead.

Niche market: Market which focuses on particular segment and creating distinct image.
Ex: nano car.

Customised product: Customer requirements are taken into account.

Augmented product: Improvement made by the manufacturer voluntarily.

Potential product: Which may introduce in the future depending on technological and economic resources of the firm.

Unique selling proposition(USP): A quality feature design which is available only in one product which is not in other products.
Ex: bajaj pulsar,yamaha fz.

Product mix: All different range of products offered by a company.
Ex: TATA offering salt to airways.

Product width: No. of categories in a product mix.
Ex: hair care,skin care etc.

Product depth: No. of alternatives in each category.
Ex: soap category:lux,cinthol,pears,lifebuoy.

Product line: continuous and consistent availability of the product in the market.

Product life cycle:
It analyses sales and profit of a product through four stages.

STAGE SALES PROFIT

Types of Pricing:
Price is the monetary value given by the customer for the exchange of goods and services.

Follow leader: Adjust the prices according to the dominant player in the market.
Ex: apple (smart phones).

Cost plus: Keeping price just above the cost price to recover the operational expenditure.
Ex: R.K.(ramakrishna) MATH spoken english book for 25/- only

Penetration: Keeping prices low initially when a product is released for the first time.
Ex: sakshi paper for only 2/- with full color pages instead of 3/-

Predatory: keeping the prices low to kill competitors and later increasing it after the competitors left the market.
Ex: Stores like Walmart will effect the kirana stores in the same way.

Skimming: opposite of predatory,keeping prices very high initially when there is no competition and later decreasing it to match the competition.
Ex: Iphone.

Psychological pricing: Offering different ranges of prices to give psychological comfort to the buyer.
Ex: 499,299,599/- customer thinks that it is only in 400's,200's & 500's range.

Deceptive pricing: Promotion tactics disguise customer from knowing the actual price.
Ex: Koti market(Hyderabad) goods,initially,seller will tell the price of a luggage bag as 500/-later on bargaining he will give it to 100/-

Promotion: Purpose is to create awareness about a product in the market.

Advertisements: Paid form of impersonal communications.

Publicity: Ads, hoardings, pamphlets.

Direct selling: DSA approaches buyer personally at their doorsteps to know the consumer behaviour.(very effective but expensive too).

Aggressive marketing: Style of promoting a product which is very forceful or energetic due to increase in the competition.

Co-branding: Promotion of two related products through common brand.
Ex: Nike and Apple brought fitness and music together by developing a wireless music kit  along with the shoes.

Place: Product should be made available at a convenient location to the customers.

Length of the channel: no. of intermediaries between actual producer and the final consumer.

Push: Forced to buy the goods by keeping offers like buy 1 get 2.

Pull: Pleasure to buy the goods like android mobiles. Cold call: Persuading or motivating a customer to buy immediately who is in dilemma.

Customisation: Modifying basic products as suitable to the customers.

Standardisation: Offering same product of same quality globally.

Consumer black box: What goes on in the minds of the customer actually at the time of buying a product.

Societal marketing: Marketing for a social cause(CSR-corporate social responsibility)

Ethical marketing: Explaining positives and negatives in a realistic manner about a product for the benefit of the customers.

Purpose of marketing research is to identify need and want of the customer through primary and secondary data.

Primary data is collected through survey,secondary data is collected through official record.

Best approach for exploratory research is observation.

Best approach for casual research is experimental.

Best approach for descriptive research is survey.

Giffen goods: Giffen good is an inferior good with the unique characteristic that an increase in price actually increases the quantity of the good that is demanded. This provides the unusual result of an upward sloping demand curve.This happens because of the interactions of the income and substitution effects. Depending on whether the good is inferior or normal, the income effect can be positive or negative as the price of a good increases.

Blue ocean strategy- Requires communication skills,innovation skills and motivation.
Data mining means analysing data stored with back office staff.

Quick Notes V

Marketing Questions For The Interview

1. What is Marketing?

Ans: Marketing is the process of determining consumer demand for a product or service , motivating its sale and distributing it into ultimate consumption at a profit

3. What is marketing management?

Ans : It is the process of planning and executing the conception , pricing , promotion and distribution of goods , service , and ideas to create exchanges with target groups that satisfy customer and organizational objectives.

4. What are the key functional aspects of Marketing Management ?

Ans :
1. Analysis : This involves understanding the customer needs and identifying the target market.
2. Planning: This involves designing the marketing programmes and tactics to promote products in targeted market.
3. Implementation: Implementing the plan.
4. Control : This involves the use of both qualitative and quantitative techniques including budgetary control , control of marketing mix etc to evaluate the progress of implemented plan.

5. What is a product ?

Ans : “Product is anything that can be offered to a market for attention , acquisition, use or consumption ” (Kotler)

6. What is service ?

Ans: Kotler and Bloom defined service as “ any act or performance that one party can offer to another that is essentially intangible and does not result in the ownership of anything. Its production may or may not be tied to a physical product “

8. What are the 4 Ps of marketing OR what is marketing mix ?

Ans : 1.Price  2. Product 3. Place 4. Promotion

9. What are 4 Cs of marketing?

Ans :
1. Customer needs and wants
2. Cost to the customer
3. Convenience
4. Communication
  
10. What are the 7 Ps of Service Marketing ?

Ans :
1. Product (i.e. service)
2. Price
3. Promotion
4. Place
5. People ( Employees involved in delivering service to customers)
6. Physical Evidence
7. Process

11. What is Maslow’s Hierarchy of Needs ?

Ans :
Maslow categorized customer’s needs into 5 types
1. Physiological needs : food , drink , sleep
2. Safety needs : protection from threatening situation and economic security.
3. Social needs : friendship , affection and sense of belonging
4. Esteem needs : self respect , recognition , status and success
5. Self – actualization : self – fulfillment.

12. What is a product life cycle?

Ans :
Product life can be divided into 4 stages.
1. Introduction : Period of  initial low sales and slow pick up in the market. Eg : net banking and mobile banking.
2. Growth : Sales grow rapidly due to fast increasing market acceptance resulting in substantial improvement in profits. Eg: RTGS and NEFT.
3. Maturity : A slowdown in sales growth rate leading to peaking of sales , due to the potential buyers having been fully tapped.
4. Decline : Sales at this stage experience a declining rate of growth and profits erode. Eg : Demand Draft.

13. What are the two costs which have to be considered while pricing bank products?

Ans: 1. Interest Cost   2. Service Cost

14. What are the distribution channels involved in banking services?

Ans:
1. Bank Branch
2. Telephone Banking and Call Centers
3.  Automated Teller Machines
4. Virtual Branches and Automated Video Banking.
15. What is Banking Codes Standards Board of India (BCSBI).?
Banking Codes Standards Board of India (BCSBI)
The Reserve Bank of India established BCSBI in 2007 to ensure that the common consumer of financial services from the banking industry gets what he/she has been promised. The Board operates as an independent and autonomous body. Membership of BCSBI is voluntary and open to scheduled banks.

From 2015, performance ratings of Banks on customer services will be put in public domain by Banking Codes Standards Board of India (BCSBI).
BCSBI is rating banks on customer services on 5 parameters:

    Information dissemination
    Transparency
    Customer-centricity
    Grievance redressal system
    Customer feedback

BCSBI rated 48 banks for customer service of which only 5 scored high ratings; 25 were rated above average; 17 average; and one below average. The ratings will be made public in 2015. However, banks are not allowed to use these ratings to solicit business.
Code of Bank’s Commitment to Customers

The Code of Bank’s Commitment to Customers is a Code of Customer Rights, which sets minimum standards of banking practices that member banks have to comply with when they deal with individual customers. The Code provides protection to customers and explains the manner in which banks are supposed to deal with customers in their day-to-day operations.

Quick Notes VI

Quick Study Notes on Marketing

1. A lead means – A prospective buyer

2. Benchmark means – set standards

3. Customization means – specific products for each customer

4. Customer retention means – customers dealing with same organization for long time

5. Value Added Service means – additional service

6. The sequence of the sales process is – Lead, call, presentation and sale

7. "POS" means – Point Of Sale.

8. Market Research is useful for – deciding proper marketing strategies

9. A ‘call’ means – visiting prospective customer.

10. Online marketing is the function of - I.T Department

11. Customization is useful for – Designing customer specific products.

12. The key challenge to market driven strategy is – Delivering superior values to the customers.

13. Effective selling skills depends on – knowledge level of the sales team.

14.  Generation of sales leads can be improved by – increasing personal and professional contacts.

15.  A market plan is – Documented marketing strategies

16.  Marketing channel mean – Delivery outlets.

17.  Social Marketing means - marketing for a social cause.

18.  Service marketing means - Relationship Marketing

19.  Market driven Strategies include – positioning the organization and its brand in the market place.

20.  Innovation in marketing means – Creativity

21.  Personal loan can de canvassed among – Salaried persons

22.  A presentation means – explaining the utility of products

23.  Conversion means – converting a prospective client into a buyer

24.  Modern style of marketing include – digital marketing, telemarketing, e-commerce, e-mail solicitation

25.  e-marketing is same as – digital marketing

26.  Aggressive marketing is necessitated due to – increased competition

27.  Efficient marketing style requires – proper planning, good communication skill, team work, knowledge of products.

28.  The performance of a sales person depends on – ability and willingness of the sales person.

29.  The sole aim of marketing is to – increase sales.

30.  Lead generation means – likely sources for prospective clients.

31.  CRM – Customer Relationship Management

32.  CRM is – A pre sale activity/ a tool for lead generation/ an ongoing daily activity/the task of a DSA.

33.  Bancassuranse can be sold to – All existing and prospective bank customers. 

34.  A successful “Blue Ocean Strategy” requires – effective communication/innovative skills/motivation.

35.  Cross selling is the basic function of all sales persons.

36.  Data mining means – analysing the data stored with the back office staff.

37.  SME means – small and medium enterprises 

38.  The first step in the transaction processing cycle is – data entry

39.  Collecting personal information and effectively posing as another individual is known as – the crime of spoofing

40.  A presentation means: Explain the utility products

41.  Relationship Marketing is useful for:  Cross-selling of product

42.  Good Public Relation indicate: Improved marketing skills, Improved brand image,   Improved customer service.

43.  Networking helps in marking marketing function: An easy task

44.  Delivery channel means — Place where products are made available to the buyers

45.  One of the methods for market monitoring is — To discuss with other sales persons

46.  A scenario in which a customer has too much awareness of the Brand is called: Over Positioning

47.  Creating a distinctive place in the minds of customer means: Brand Positioning

48.  Say’s Law of Markets states that — Supply creates its own demand

49.  Gresham’s Law states that — Bad money drives good money out of circulation

50.  Investment is defined as a— Change in the stock of capital