ASSIGNMENT # 3

Submitted by,
Diploma HCM batch 2016

DIFFERENCES BETWEEN:
MARKETING & ADVERTISING
JOB DESCRIPTION & JOB
SPECIFICATION
VIARIABLE COST & FIXED
COST
EQUALITY & EQUITY
POPULATION & SAMPLE
STRUCTURED &
UNSTRUCTURED INETRVIEW
VISION & MISSION
FASHION, STYLE & FAD,
ELASTIC AND INELASTIC
DEMANDS
PRIMARY AND SECONDARY
DATA

Difference between marketing & advertising

Marketing

Advertising

Marketing is the management of

introducing your product profitably in
market place. It involves the
identification of your potential buyer &
if your product meets the need/demand
of your customer.
Methods for product/service promotion
& public awareness lie in this category.

Advertising is the subset of marketing.

It is one of the way or method to
promote and make people aware of
your product.

Difference between job description & job specification

Job description

Job specification

It defines the responsibilities, area and

nature of work, scope of work,
organizational structure & workers
position in that organization.

It defines the eligibility requirements of

a person needed to perform the
defined job description

Difference between variable cost & fixed cost

Variable cost

Fixed cost

Cost that can be changed

Cost which is fixed and cannot be

changed
This cost doesnt fluctuate with the
changes in volume of production or
sales.
They include rent, insurance, dues,
equipment leases, payments on loans,
salaries.

This cost depends on the production

volume
Include raw materials, hourly
production wages, sales commissions,
inventory, packaging supplies, and
shipping costs.

Difference between equality and equity

Equality

Equity

Equality is giving the opportunity or

facility or anything to every person
equally.

Equity is giving the opportunity or

facility or anything to everyone as per
individuals need, so that each and
every person comes to the same level.

Difference between population & sample

Population
It is entire set of individual or objects or
products or any service.
Example: consumption of mineral
water in women.

Sample
Sample is basically the subset or the
population
Example: consumption of mineral water
in working women living in ABC area.

Difference between structured & unstructured interview

Structured interview
It is pre decided & formal interview in
which same questions are asked from
all candidates

Unstructured interview
It is informal type of interview which
based on open questions.

Difference between vision and mission

Vision
Vision is the ultimate goal of a person
or of an organization.
It is a future oriented image, Where the
organization has to reach.
For example:
Becoming chemo-specialized
pharmacist.

Mission
Mission the way that leads to the
achievement of vision.
Mission defines that How to work, how
to plan, what to do, so that
organization/person reach to that goal
(imaged in vision).
For example:
I have to meet the eligibility criteria for
appearing in examination.
I have to study all up to datedresearches based on chemotherapy.

Difference between style, fashion & fad

Style

Fashion

Fad

Style has the mixed type of

trend in which the sales of
product or service increases
or decreases but not
declined completely.

A fashion is a currently
accepted or popular style.
Fashion tends to grow
slowly, remain popular for
a while, and then slowly
decline.

A fad is a fashion that

enters quickly, have
highest sale and declines
very rapidly.

Products or services falls

under this category usually
has long lasting life

Products or services falls

under this category has
comparatively longer life.

Products falls in this

category has short lived
life.

Source:

http://classconnection.s3.amazonaws.
com/218/flashcards/397218/jpg/style_
fashion_and_fad_life_cycles132364084
5339.jpg

Difference between Elastic and inelastic demand

Elastic demand
Quantity & demand of the product
shows larger changes with the change
in price.
For example: patient switched to
insulin vial + syringes from insulin pen.

Inelastic demand
Quantity and demand of the product
show lesser changes with the change in
price.
For example: Electricity bill, Water bill.

Difference between primary data & secondary data

Primary data

Secondary data

It is the data collected for the first time

by any researcher with specific object
and for a specific reason.

It is the data obtained by analysis,

interpretation and summarization of
primary data already published or
available.

It is basically quality based data which

gives quality related information like
feel, taste, appearance.

It is a quantified data derived from

quality data.

It is original and accurate data as it is

documented on the basis of what the
researcher/company/group observed
and experienced.

Accuracy can be compromised if mixed

with inauthentic references.

It is a time consuming and costly.

Less time consumed in secondary data

preparation as compare to primary data