Question

1. What is the difference between a Gantt chart and a PERT chart in the production management?

2. How is the marketing concept tied to the relationship and social eras of marketing?

3. What are the Marketing mix and how does business apply them into the markets?

Answer 1

1. Difference between PERT chart and GANTT chart is PERT chart is a diagram showing schedule for different activities and coordination between them so that the project can be completed in minimum time. GANTT chart is a bar chart type of diagram that shows the time allotted to various activities in a schedule for a project and the time comparison depicted by the bar graph.

2. Marketing concept tied to relationship areas of the marketing is by developing long term relationship with customers and growing customer loyalty. It aims for customer retention, satisfaction and improving the relationship over a long period of time by providing them better services, products and benefits.

Social areas of marketing focus on societal areas and benefits of the community apart from customer benefits. The organisation is committed to the community welfare and provides products and services that serve both the customer and the community.

3. Marketing mix is combination of different tools of marketing like Product, price, place, promotion and packaging that are utilised by the company to market its products for consumers. The company applies them to market when it evaluates the most suitable combination of the 4Ps for selling its products to a particular target market segment. The 4Ps of marketing mix are also decided after considering competition, market demand and customer response.