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b. Administration
c. Design and development of the product
d. e-commerce
e. Finance
f. Human Resources
g. Inventory management
h. Management
i. Production
j. Quality Inspection
2. Commercial activities: The commercial activities primarily primarily include the trade and trade
related activities. They primarily include purchase and sale of products and services offered by
the organization.
Modern markets as compared to the Traditional markets:
The modern markets much sophisticated as compared to the traditional markets in the following ways.
Traditional Markets Modern Markets
Majorly driven by agriculture,
horticulture, farming and handicrafts. Majorly driven by agricultural and industrial sectors.
Traditional markets are confined to a Market is not confined to a place or region. It is considered as any means of
particular place. communication which brings the buyers and sellers together.
Gaps existed between demand and Buyers and sellers compete and ensure that an equilibrium state is established
supply. between demand and supply. It also ensures that the prices are competitive.
It didn’t have good channels of Distribution of products or services is not a constraint. Efficient distribution
distribution. channels are available.
It was necessary that the buyers and Is is not essential for the buyers and sellers to meet in person. They can hold a
sellers meet in person. meeting through any other means of communication to complete the transaction.
