World Depression of 1929 cancelled the gold standard It resulted in difficulties in World Trade, Exchange of Money and the Investment at the international level. The second     World War badly affected financial position of those countries involved in the War. In order to improve the financial position and the smooth settlement of financial transaction, economic co-operation was essential. There was a need of the Central Bank of the Central Banks. This kind of institutions was established in the form of the IMF. ➤ 1. Establishment Experts  from U.S.K., U. K. and other countries discussed at a length the issue of international economic co-operation. The outcome of this discussion was the United Nation Monetary and Financial Conference at Bretton Wood, New Hampshire, U.S.A. the conference was organized on 1s t  July 1944 to 22nd 1944. The representative of the 44 countries attended the conference. It completed the final draft of article of agreement of the IMF and th...

1. DEFINITION OF SOCIAL RESPONSIBILITY Social  responsibility of business means duties and obligations of business towards different social groups I.g., shareholder, consumers, employees legal. 2. NEED FOR SOCIAL RESPONSIBILITIES OF BUSINESS The social responsibilities concept implies that business must behave like an ordinary citizen. It must discharge its legal, moral and social functions sincerely. The following factors explain in need for social responsibilities of business.    ➤  1. To protect Environment The  purpose of business is to create wealth and satisfy human wants. It usees the natural and human resources to produce goods and service. There is every possibility of the business misusing the resources for personal gains. Therefore the business must be made accountable and punished for its wrong deeds. This is possible by fixing social responsibilities on business.     ➤ 2. Good public image  A business which responds favorably to so...

Market segmentation can be the defined as the process of dividing a market into distinct sunsets of consumers with common needs or characteristics and selecting one or more segments to target with a distinct marketing mix. The strategy of segmentation allows producers to avoid head on competition  in the marketplace by differentiating their offerings, not only of  price but also through styling, packaging promotional appeal, method of distribution and superior service.     Marketers have found that the costs of consumer segmentation research, shorter production runs and differentiated promotional campaigns are usually more than offset by increased sales. In most cases, consumers readily accept the passed-through cost increased for products that more closely satisfy their specific needs. In most cases Market segmentation in just the first step in a three phase marketing strategy.   After segmenting the market into homogeneous clusters the marketer then must...

On the basis of functional approach classification of the marketing activities can be made in the following manner. A.  Exchange  Function The function involves three activities, I.e. Buying, Assembling and Selling. ➤ 1. Buying and Assembling Buying  is the one part of exchange process, other being the selling. Buying is the first step in the process of marketing. A manufacturer has to buy raw materials for production; a wholesaler has to buy goods to sell them to the retailer, a retailer has to buy goods to be sold to the consumer. Buying involves transfer of ownership of goods. Assembling means creation and maintenance of the stock of goods, purchased from different sources. The goods have sometimes to be collected and assembled at one place. This is generally done by middlemen. Buying and assembling are two distinct processes. Both these processes involve elements such as kind, quality, price, date of delivery and other terms and conditions. All these re...