1.

Distinguish between: (a) Advertising and Publicity.(b) Stakeholders and Customers. (c) Marketing and Sales. (d) Controllable Costs and Uncontrollable Costs. (e) The Central Bank and a Commercial Bank.

Answer»

(a) Difference between Advertising and Publicity: 

1. Advertising is related to only commercial information to the public while publicity may or may not be related with the communication of commercial information. 

2. Advertising aims only economic benefits while publicity aims both social and economic benefits. 

(b) Differences between Stakeholders and Customers:

StakeholdersCustomers
1. They have financial stake in business.1. No business stake
2. Stakeholder do not buy goods or services from the organisation.2. Customers buy goods or services from the organisation.

(c) Differences between Marketing and Sales: 

1. Marketing is customer oriented, whereas selling is product oriented. 

2. The main aim of marketing is to earn profits through maximum customer satisfaction whereas selling aims at earning maximum profits by increasing the volume of sales. 

(d) The cost which can be easily and effectively controlled by the person responsible at organization level are termed as controllable costs. On the other hand, the costs which cannot be easily and effectively controlled by-the person responsible are termed as uncontrollable costs.

(e)

Central BankCommercial bank
1. It is owned by the Government.1. It is generally-owned by the sharehold
2. Its aim is to serve the country’s interest.2. Its aim is to earn profit.


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