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Q:

Designing pricing strategies and programs :

How do buyers respond to price changes?

Answer

Depending upon the increase or decrease in price rates, buyers may respond accordingly. Some buyers may assume that quality of the product may have reduced to to reduction in price or that the company may not be selling the product as per expectations. The other assumption that buyers may make is that prices may go down in the future and so may delay purchase. On the other hand increased price may lead to a decrease in demand as the product may be more costly for the consumers who may switch to another seller offering similar products at lower prices.

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Subject: Marketing and Sales

Q:

Designing pricing strategies and programs :

How do sellers respond to price changes of their competitors?

Answer

In the light of competition, it may be seen that competitors may initiate price changes. If the cutting off on prices does not affect the company, then the current pricing strategy itself can be continued to maintain the profitability of the company. However if the price change on one firm is affecting the other, then it can:

a.reduce the product price at par with competitors’ price or below competitors’ price

or

b. Provide added advantage to the existing product like better quality, or ‘a buy one get one free’ offer.

or

c.Provide better quality of the product at a higher price thereby not being at par with the competitors.

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Subject: Marketing and Sales

Q:

A works twice as fast as B.If B can complete a work in 18 days independently,the number of days in which A and B can together finish the work is:

A) 4 days	B) 6 days
C) 8 days	D) 10 days

Answer & Explanation Answer: B) 6 days

Explanation:

Ratio of rates of working of A and B =2:1. So, ratio of times taken =1:2

Therefore, A's 1 day's work=1/9

B's 1 day's work=1/18

(A+B)'s 1 day's work= 1/9 + 1/18 = 1/6

so, A and B together can finish the work in 6 days

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Filed Under: Time and Work

Q:

A booster pump can be used for filling as well as for emptying a tank. The capacity of the tank is 2400 $m^{3}$ . The emptying capacity of the tank is 10 $m^{3}$ per minute higher than its filling capacity and the pump needs 8 minutes lesser to empty the tank than it needs to fill it. What is the filling capacity of the pump?

A) 50 m^3/min	B) 60 m^3/min
C) 72 m^3/min	D) None of these

Answer & Explanation Answer: A) 50 m^3/min

Explanation:

Let the filling capacity of the pump be x $m^{3}$ /min.

Then, emptying capacity of the pump=(x+10) $m^{3}$ /min.

so, $\frac{2400}{x} - \frac{2400}{x + 10} = 8 \Leftrightarrow x^{2} + 10 x - 3000 = 0$

$\Rightarrow (x - 50) + (x + 60) = 0 \Leftrightarrow x = 50$

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Filed Under: Pipes and Cistern
Exam Prep: CAT , Bank Exams , AIEEE
Job Role: Bank PO , Bank Clerk

Q:

One pipe can fill a tank three times as fast as another pipe. If together the two pipes can fill the tank in 36 min, then the slower alone will be able to fill the tank in:

A) 81 min	B) 108 min
C) 144 min	D) 192 min

Answer & Explanation Answer: C) 144 min

Explanation:

Let the slower pipe alone fill the tank in x minutes.

Then,faster pipe will fill it in x/3 minutes.

$= > \frac{1}{x} + \frac{3}{x} = \frac{1}{36} = > \frac{4}{x} = \frac{1}{36} = > x = 144 m i n s$

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Filed Under: Pipes and Cistern

Q:

$[\frac{3 \sqrt{2}}{\sqrt{6} - \sqrt{3}} - \frac{4 \sqrt{3}}{\sqrt{6} - \sqrt{2}} - \frac{6}{\sqrt{8} - \sqrt{12}}] = ?$

A) sqtr{3}-sqrt{2}	B) sqtr{3}+sqrt{2}
C) 5sqrt{3}	D) 1

Answer & Explanation Answer: C) 5sqrt{3}

Explanation:

Given Exp = $\frac{3 \sqrt{2}}{\sqrt{6} - \sqrt{3}} \times \frac{\sqrt{6} + \sqrt{3}}{\sqrt{6} + \sqrt{3}} - \frac{4 \sqrt{3}}{\sqrt{6} - \sqrt{2}} \times \frac{\sqrt{6} + \sqrt{2}}{\sqrt{6} + \sqrt{2}} - \frac{6}{2 (\sqrt{2} - \sqrt{3})}$

= $\frac{3 \sqrt{2} (\sqrt{6} + \sqrt{3})}{6 - 3} - \frac{4 \sqrt{3} (\sqrt{6} + \sqrt{2})}{6 - 2} + \frac{3}{(\sqrt{3} - \sqrt{2})} \times \frac{(\sqrt{3} + \sqrt{2})}{(\sqrt{3} + \sqrt{2})}$

= $\sqrt{2} (\sqrt{6} + \sqrt{3}) - \sqrt{3} (\sqrt{6} + \sqrt{2}) + 3 (\sqrt{3} + \sqrt{2})$

= $\sqrt{12} + \sqrt{6} - \sqrt{18} - \sqrt{6} + 3 \sqrt{3} + 3 \sqrt{2}$

= $5 \sqrt{3}$

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Filed Under: Square Roots and Cube Roots

Q:

What is good customer service?

Answer

Good customer service means having thorough knowledge of your inventory, experience with your products, and being able to help customers make the best choices for them.

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Subject: Customer Service

Q:

A co-worker is rude to customers, what would you do?

Answer

That would depend on what kind of a rapport I had with him. If I felt comfortable, I would probably mention that being rude is probably going to be bad for him in the long run, since unhappy customers reflect badly on the sales associate. Otherwise, I would mention to the supervisor what I had witnessed, and let him handle it.

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Subject: Customer Service

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