1. In the case of New Products------Method of pricing is most suitable.





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MCQ-> Read the following passage to answer the given question based on it. Some words/phrases are printed in bold to help you locate them while answering some of the questions.Organized retail has “fuelled” new growth categories like liquid hand wash, breakfast cereals and pet foods in the consumer goods industry accounting for almost 50% of their sales said data from market search firm Nielsen The figures showed some of these new categories got more than 40% of their business from modern retail outlets.The data also suggests how products in these categories reach the neighbourhood kirana stores after they have established themselves in modern trade While grocers continue to be an important channel for the new and evolving categories we saw an increased presence of the high end products in modern trade For example premium products in laundry detergents dishwashing car air fresheners and surface care increased in availability through this format as these products are aimed at “affluent” consumers who are more likely to shop in supermarket/hypermarket outlets and who are willing to pay more for specialized products Some other categories that have grown exceptionally and now account for bulk of the sales from modern retail are frozen and With the evolution of modern trade our growth in this channel has been healthy as it is for several other categories Modern retail is an important part of our business said managing director Kellogg India. What modern retail offers to companies experimenting with new categories is the chance to educate customers which was not the case with a general trade store Category creation and market development starts with modern trade but as more consumer start consuming this category they “penetrate into other channels” said president food FMCG category Future Group the country’s largest retailer which operates stores like Big Bazaar But a point to note here is that modern retailers themselves push their own private brands in these very categories and can emerge as a big threat for the consumers goods and foods companies For instance Big Bazaar’s private label Clean Mate is hugely popular and sells more than a brand like Harpic in its own stores So there is a certain amount of conflict and competition that will play out over the next few years which the FMCG companies will have to watch out for said KPMG’s executive director (retail) In the past there have been instances of retailers boycotting products from big FMCG players on the issue of margins but as modern retail become increasingly significant for “pushing” new categories experts say we could see more partnerships being forged between retailers and FMCG companies Market development for new categories takes time so brand wars for leadership and consumer franchise will be fought on the modern retail platform A new brand can overnight compete with “established” companies by trying up with few retailers in these categories president of Future Group addedWhich of the following is being referred to as new growth category ?
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MCQ-> Read passage carefully. Answer the questions by selecting the most appropriate option (with reference to the passage). PASSAGE 4While majoring in computer science isn't a requirement to participate in the Second Machine Age, what skills do liberal arts graduates specifically possess to contribute to this brave new world? Another major oversight in the debate has been the failure to appreciate that a good liberal arts education teaches many skills that are not only valuable to the general world of business, but are in fact vital to innovating the next wave of breakthrough tech-driven products and services. Many defenses of the value of a liberal arts education have been launched, of course, with the emphasis being on the acquisition of fundamental thinking and communication skills, such as critical thinking, logical argumentation, and good communication skills. One aspect of liberal arts education that has been strangely neglected in the discussion is the fact that the humanities and social sciences are devoted to the study of human nature and the nature of our communities and larger societies. Students who pursue degrees in the liberal arts disciplines tend to be particularly motivated to investigate what makes us human: how we behave and why we behave as we do. They're driven to explore how our families and our public institutions-such as our schools and legal systems-operate, and could operate better, and how governments and economies work, or as is so often the case, are plagued by dysfunction. These students learn a great deal from their particular courses of study and apply that knowledge to today's issues, the leading problems to be tackled, and various approaches for analyzing and addressing those problems. The greatest opportunities for innovation in the emerging era are in applying evolving technological capabilities to finding better ways to solve human problems like social dysfunction and political corruption; finding ways to better educate children; helping people live healthier and happier lives by altering harmful behaviors; improving our working conditions; discovering better ways to tackle poverty; Improving healthcare and making it more affordable; making our governments more accountable, from the local level up to that of global affairs; and finding optimal ways to incorporate intelligent, nimble machines into our work lives so that we are empowered to do more of the work that we do best, and to let the machines do the rest. Workers with a solid liberal arts education have a strong foundation to build on in pursuing these goals. One of the most immediate needs in technology innovation is to invest products and services with more human qualities. with more sensitivity to human needs and desires. Companies and entrepreneurs that want to succeed today and in the future must learn to consider in all aspects of their product and service creation how they can make use of the new technologies to make them more humane. Still, many other liberal arts disciplines also have much to provide the world of technological innovation. The study of psychology, for example, can help people build products that are more attuned to our emotions and ways of thinking. Experience in Anthropology can additionally help companies understand cultural and individual behavioural factors that should be considered in developing products and in marketing them. As technology allows for more machine intelligence and our lives become increasingly populated by the Internet of things and as the gathering of data about our lives and analysis of it allows for more discoveries about our behaviour, consideration of how new products and services can be crafted for the optimal enhancement of our lives and the nature of our communities, workplaces and governments will be of vital importance. Those products and services developed with the keeneSt sense of how they' can serve our human needs and complement our human talents will have a distinct competitive advantage. Much of the criticism of the liberal arts is based on the false assumption that liberal arts students lack rigor in comparison to those participating in the STEM disciplines and that they are 'soft' and unscientific whereas those who study STEM fields learn the scientific method. In fact the liberal arts teach many methods of rigorous inquiry and analysis, such as close observation and interviewing in ways that hard science adherents don't always appreciate. Many fields have long incorporated the scientific method and other types of data driven scientific inquiry and problem solving. Sociologists have developed sophisticated mathematical models of societal networks. Historians gather voluminous data on centuries-old household expenses, marriage and divorce rates, and the world trade, and use data to conduct statistical analyses, identifying trends and contributing factors to the phenomena they are studying. Linguists have developed high-tech models of the evolution of language, and they've made crucial contributions to the development of one of the technologies behind the rapid advance of automation- natural language processing, whereby computers are able to communicate with the, accuracy and personality of Siri and Alexa. It's also important to debunk the fallacy that liberal arts students who don't study these quantitative analytical methods have no 'hard' or relevant skills. This gets us back to the arguments about the fundamental ways of thinking, inquiring, problem solving and communicating that a liberal arts education teaches.What is the central theme of the passage?
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MCQ-> Read the following passage carefully and answer the questions given at the end. When Ratan Tata moved the Supreme Court, claiming his right to privacy had been violated, he called Harish Salve. The choice was not surprising. The former solicitor general had been topping the legal charts ever since he scripted a surprising win for Mukesh Ambani against his brother Anil. That dispute set the gold standard for legal fees. On Mukesh’s side were Salve, Rohinton Nariman, and Abhishek Manu Singhvi. The younger brother had an equally formidable line-up led by Ram Jethmalani and Mukul Rohatgi.The dispute dated back three-and-a-half years to when Anil filed case against his brother for reneging on an agreement to supply 28 million cubic metres of gas per day from its Krishna-Godavari basin fields at a rate of $ 2.34 for 17 years. The average legal fee was Rs. 25 lakh for a full day's appearance, not to mention the overnight stays at Mumbai's five-star suites, business class travel, and on occasion, use of the private jet. Little wonder though that Salve agreed to take on Tata’s case pro bono. He could afford philanthropy with one of India’s wealthiest tycoons.The lawyers’ fees alone, at a conservative estimate, must have cost the Ambanis at least Rs. 15 crore each. Both the brothers had booked their legal teams in the same hotel, first the Oberoi and, after the 26/ ll Mumbai attacks, the Trident. lt’s not the essentials as much as the frills that raise eyebrows. The veteran Jethmalani is surprisingly the most modest in his fees since he does not charge rates according to the strength of the client's purse. But as the crises have multiplied, lawyers‘fees have exploded.The 50 court hearings in the Haldia Petrochemicals vs. the West Bengal Government cost the former a total of Rs. 25 crore in lawyer fees and the 20 hearings in the Bombay Mill Case, which dragged on for three years, cost the mill owners almost Rs. 10 crore. Large corporate firms, which engage star counsels on behalf of the client, also need to know their quirks. For instance, Salve will only accept the first brief. He will never be the second counsel in a case. Some lawyers prefer to be paid partly in cash but the best are content with cheques. Some expect the client not to blink while picking up a dinner tab of Rs. 1.75 lakh at a Chennai five star. A lawyer is known to carry his home linen and curtains with him while travelling on work. A firm may even have to pick up a hot Vertu phone of the moment or a Jaeger-LeCoutre watch of the hour to keep a lawyer in good humour.Some are even paid to not appear at all for the other side - Aryama Sundaram was retained by Anil Ambani in the gas feud but he did not fight the case. Or take Raytheon when it was fighting the Jindals. Raytheon had paid seven top lawyers a retainer fee of Rs. 2.5 lakh each just to ensure that the Jindals would not be able to make a proper case on a taxation issue. They miscalculated when a star lawyer fought the case at the last minute. “I don’t take negative retainers”, shrugs Rohatgi, former additional solicitor general. “A Lawyer’s job is to appear for any client that comes to him. lt’s not for the lawyers to judge if a client is good or bad but the court”. Indeed. He is, after all, the lawyer who argued so famously in court that B. Ramalinga Raju did not ‘fudge any account in the Satyam Case. All he did was “window dressing”.Some high profile cases have continued for years, providing a steady source of income, from the Scindia succession battle which dates to 1989, to the JetLite Sahara battle now in taxation arbitration to the BCCI which is currently in litigation with Lalit Modi, Rajasthan Royals and Kings XI Punjab.Think of the large law firms as the big Hollywood studios and the senior counsel as the superstar. There are a few familiar faces to be found in most of the big ticket cases, whether it is the Ambani gas case, Vodafone taxation or Bombay Mills case. Explains Salve, “There is a reason why we have more than one senior advocate on a case. When you're arguing, he’s reading the court. He picks up a point or a vibe that you may have missed.” Says Rajan Karanjawala, whose firm has prepared the briefs for cases ranging from the Tata's recent right to privacy case to Karisma Kapoor’s divorce, “The four jewels in the crown today are Salve, Rohatgi, Rohinton Nariman and Singhvi. They have replaced the old guard of Fali Nariman, Soli Sorabjee, Ashok Desai and K.K. Venugopal.” He adds, “The one person who defies the generational gap is Jethmalani who was India's leading criminal lawyer in the 1960s and is so today.”The demand for superstar lawyers has far outstripped the supply. So a one-man show by, say, Rohatgi can run up billings of Rs. 40 crore, the same as a mid-sized corporate law firm like Titus and Co that employs 28 juniors. The big law filik such as AZB or Amarchand & Mangaldas or Luthra & Luthra have to do all the groundwork for the counsel, from humouring the clerk to ensure the A-lister turns up on the hearing day to sourcing appropriate foreign judgments in emerging areas such as environmental and patent laws. “We are partners in this. There are so few lawyers and so many matters,” points out Diljeet Titus.As the trust between individuals has broken down, governments have questioned corporates and corporates are questioning each other, and an array of new issues has come up. The courts have become stronger. “The lawyer,” says Sundaram, with the flourish that has seen him pick up many Dhurandhares and Senakas at pricey art auctions, “has emerged as the modern day purohit.” Each purohit is head priest of a particular style. Says Karanjawala, “Harish is the closest example in today's bar to Fali Nariman; Rohinton has the best law library in his brain; Mukul is easily India's busiest lawyer while Manu Singhvi is the greatest multi-tasker.” Salve has managed a fine balancing act where he has represented Mulayam Singh Yadav and Mayawati, Parkash Singh Badal and Amarinder Singh, Lalit Modi and Subhash Chandra and even the Ambani brothers, of course in different cases. Jethmalani is the man to call for anyone in trouble. In judicial circles he is known as the first resort for the last resort. Even Jethmalani’s junior Satish Maneshinde, who came to Mumbai in I993 as a penniless law graduate from Karnataka, shot to fame (and wealth) after he got bail for Sanjay Dutt in 1996. Now he owns a plush office in Worli and has become a one-stop shop for celebrities in trouble.Which of the following is not true about Ram Jethmalani?
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MCQ-> Based on the information answer the questions which follow.A consultant to Department of Commerce. Government of Bianca has suggested 30 products which have high export potential. Dora an entrepreneur and prospective exporter notices that these products can be grouped in three ways- Machine made goods, Handmade goods and Intermediate goods. Among these 30 products some products are both machine made and intermediate goods but not handmade goods. Few products have a combination of handmade and machine made goods but not intermediate goods. Some products are handmade and intermediate goods but not machine made goods. Further it is seen that handmade-machine made goods are I less than machine made-intermediate goods. Similarly the total number of handmade-intermediate goods is I less than machine made-intermediate goods. There are just 4 products common across all product groups i.e. machine made-handmade- intermediate goods. Apart from this the number of only handmade goods is same as only machine made goods but less than only intermediate goods. Each product group/combination has at least one product. Dora prefers to export machine made goods and avoid hand made goods. She finds out that only handmade goods are twice the machine made-intermediate goods and the number of only intermediate goods is an even number. Whereas her close friend Sara prefers to export intermediate goods followed by only handmade goods.Sara and Dora prefer to export as many common products as possible in order to understand the regulatory conditions. Keeping their preferences intact, what is the maximum number of common products which can be exported by both of them?
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