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Revision Notes for CBSE Class 12 Business Studies Chapter 11 - Free PDF Download
The Class 12 Business Studies revision notes Chapter 11 includes and summarises all of the key concepts such as the definition of marketing, features of marketing, functions of marketing, marketing mix, marketing mix ingredients, and so on. The NCERT Class 12 Revision Notes Business Studies Chapter 11 assist students in understanding all of the important ideas discussed in this chapter. The revision notes PDF are written in a straightforward manner to provide students with a better learning experience prepared and curated by the subject-matter experts at Vedantu and this PDF can be downloaded for free from Vedantu app and official website.
Topics Covered in Business Studies Chapter 11 Marketing
Introduction to Marketing
Features of Marketing
Marketing Management
Marketing Management Philosophies (The Production Concept, Product Concept, The Marketing Concept, The Selling Concept, The Societal Marketing Concept)
Differences in the Marketing Management Philosophies
Functions of Marketing
Role of Marketing
Marketing Mix Elements (Product, Price, Place, And Promotion)
Advertising
Physical Distribution
Personal Selling
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Meaning of market .
The term "market" refers to the gathering place of buyers and sellers to conduct transactions involving the exchange of goods and services. The term "market" comes from the Latin word "Marcatus," which means "to trade."
Marketing
Marketing is defined as "a human activity aimed at satisfying needs and desires through an exchange process."
Philip Kotler
Marketing concept is a key to determining the needs, desires of target markets, delivering the desired satisfactions more efficiently and effectively by competitors is critical to achieving organizational goals.
Features of Marketing
1. Needs and Wants:
The marketing process assists consumers in obtaining what they require and desire.
A need is said to be known as a state of deprivation or the feeling that one is depriving oneself of something.
Needs are fundamental to human beings and are unrelated to a specific product.
2. Creating a Market Offering:
Market offering is the process of offering and introducing a product or service with specific features such as size, quality, taste, and so on for the purpose of selling.
3. Customer Value:
Marketing used to facilitate the exchange of goods as well as services between buyers and sellers.
4. Exchange Mechanism:
The exchange mechanism is used in the marketing process.
Exchange refers to the process where two or more parties used to come together in order to get the desired goods or service from someone while in exchange for something. For example, money is the medium of exchange used to purchase or sell a product or service.
The following conditions needs to be met in order for an exchange to take place:
a. There must be at least two parties.
b. providing something of value to the other party
c. communication
d. freedom to accept or reject offer
e. willingness of the parties to enter into a transaction
What can be Marketed?
1. Physical product
2. Services
3. Ideas
4. Person
5. Palace
6. Experience
7. Properties
8. Events
9. Information
10. Organisation
Marketer
A marketer is anyone who makes an extra effort to identify the needs of the consumers and offer the product or service as well as persuade them in order to buy in the process of exchange. .
Sellers, as marketers, are the ones who provide satisfaction. They make products/services available and sell them to customers in order to meet their needs and desires.
They are classified as follows:
a. goods marketers (such as Hindustan Lever)
b. services marketers (such as Indian Airlines)
c. others marketing experiences or places (such as Walt Disney) (like tourist destinations).
Marketing activities are those undertaken by marketers in order to facilitate the exchange of goods and services between producers and consumers.
Marketing Management
Marketing management is the administration of marketing functions.
It is considered as the process of organizing, directing as well as controlling the activities associated with marketing goods and services in order to meet the needs of customers and achieve organizational goals.
âMarketing management is defined as the art and science of selecting target markets and acquiring, retaining, and growing customers by creating, delivering, and communicating superior customer service.â
Philip Kotler
The Process of Management of Marketing Involves:
a. Identifying a target market
b. Creating demand by producing products that meet the needs and interests of customers.
c. Create, develop, and communicate superior customer values: To provide superior value products/services to prospective customers, and to communicate these values to other potential buyers in order to persuade them to purchase the product/service.
Marketing and Selling
Marketing: It refers to a broad range of activities, of which selling is only one component. Before making a sale, a marketer must plan the type, design, and price of the product, as well as select the distribution channels and the appropriate promotional mix for the target market.
Selling: refers to the sale of a product or service through advertising, promotion, and salesmanship. The product's title is transferred from seller to buyer. The primary goal of selling is to turn a product into cash.
Difference Between Marketing and Selling
Marketing Management Philosophies
Marketing Concepts/Philosophies usually refers to determining the needs as well as wants of the target markets & then delivering the desired satisfactions more efficiently and effectively by competitors is critical to achieving organizational goals.
1. Production Concept:
Because the number of producers was limited in the early days of the industrial revolution, industrialists assumed that consumers were only interested in easily and widely available goods at an affordable price.
2. Product Concept:
As time passed, supply improved, and customers began to prefer products that were superior in performance, quality, and features.
As a result, product improvement has become the key to a company's profit maximization.
3. Selling Concept:
Increased production scale resulted in increased competition among sellers. Because there were so many companies selling similar products, product quality and availability were insufficient to ensure survival.
Consumers will not buy products unless the company engages in aggressive sales and promotional activities.
4. Marketing Concept :
Marketing begins with determining what consumers want in order to satisfy consumers and profit.
Customer satisfaction is a prerequisite for achieving the firm's goals and objectives.
5. Social Marketing Concept:
Customer satisfaction is supplemented by social welfare in this concept.
A company that adopts the societal concept must balance the company's profits, consumer satisfaction, and societal interests.
Functions of Marketing
1. Gathering and Analyzing Market Information:
Systematic fact-gathering and information-analysis
Examining a business environment's strengths, weaknesses, opportunities, and threats.
Identifying customer needs and desires, determining purchasing motivations, selecting a brand name, packaging, and promotional media, and so on.
Data is available from both primary and secondary sources.
2. Marketing Planning :
Create an appropriate marketing plan in order to meet marketing objectives.
It should specify the action plans to achieve these goals.
For example, if a marketer wants to increase his country's market share in the next three years, his marketing plan should include various important aspects such as a plan for increasing production levels, product promotion, and so on.
3. Product Designing and Development:
Involves decisions about the product to be manufactured and its attributes, such as quality considerations, packaging, new models and variations, and so on.
A good design can improve the performance of the product while also giving it a competitive advantage in the market.
Anticipate customer needs and create new products or improve existing ones to meet those needs.
4. Standardization and Grading:
Standardisation refers to the production of goods that meet predetermined specifications, which aids in the production of uniformity and consistency (e.g., ISI Mark).
Grading is said to be the process of categorizing different products into different groups based on important characteristics such as quality, size, and so on.
5. Packaging and Labeling:
Packaging is called as the process of designing as well as developing a package for a product that protects it from damage, spoilage, breakage, and leakage. It also makes purchasing easier for customers and serves as a marketing tool.
Labeling is the process of designing a label to be placed on a package. It can range from a simple tag to intricate graphics. For example, colgate, lays, and so on.
6. Branding:
It aids in product differentiation, builds customer loyalty, and promotes sales.
An important decision area is branding strategy, which determines whether each product will have a separate brand name or the same brand name will be used for all products.
7. Customer Support Services:
Customer support services are extremely effective at increasing prospective customer sales and developing brand loyalty for a product.
It aims to provide maximum customer satisfaction while also building brand loyalty.
Examples include sales services, customer complaints and adjustments, credit services, maintenance services, technical services, and consumer information.
8. Pricing of Product:
Product price refers to the amount of money that customers must pay in order to obtain a product.
It is an important factor in a product's success or failure.
Because the price of a product/service is related to its demand, the price should be set after considering all of the factors that influence the price of the product.
9. Promotion:
Product and service promotion entails informing customers about the firm's product, its features, and so on, and persuading them to purchase the products.
Promotional methods include advertising, personal selling, public relations, and sales promotion.
10. Physical Distribution:
The two major decision areas under this function are
(a) the channels of distribution or marketing intermediaries to be used (e.g. wholesalers, retailers); and the marketing intermediaries to be used.
(b) Physical movement of the product from the point of manufacture to the point of consumption.
11. Transportation:
Transportation refers to the physical movement of goods from one location to another.
When selecting a mode of transportation, various factors such as the nature of the product, cost, location of the target market, and so on should be considered.
12. Storage or Warehousing:
Proper storage of products is required to maintain a smooth flow of products in the market.
Storage and warehousing are used to protect against unavoidable delays in delivery or to meet contingencies in demand.
Marketing Mix
A large number of factors influence marketing decisions; these are classified as ânon-controllable factors' and âcontrollable factors.'
Controllable factors are those that can be influenced at the firm level.
Environmental variables are factors that influence a decision but are not controllable at the firm level.
In order to be successful, a company must make sound decisions after analyzing controllable factors and keeping environmental factors in mind.
Marketing Mix refers to the set of marketing tools that a company employs to achieve its marketing objectives in the target market.
The success of a market offer is determined by how well these ingredients are combined to provide superior value to customers while also meeting sales and profit goals.
Elements of Marketing Mix
The marketing mix consists of four main elements
A. Product
B. Price
C. Place/Physical Distribution
D. Promotion
These elements are used to popularly known as 4 Pâs of the marketing.
1. Product: A product is defined as "anything of value" that is offered for sale in the market. Colgate, Dove, and so on.
2. Price: the sum of money that a customer must pay in order to obtain a product or service.
3. Place: Physical product distribution, i.e. making the product available to customers at the point of sale.
4. Promotion: Informing customers about the products and convincing them to purchase them.
Product
A product, in the eyes of the customer, is a collection of utilities that is purchased because of its ability to meet a specific need.
Classification of Products
Products can be classified into two categories:
(i) Consumers âproducts,
(ii) Industrial products.
A. Shopping Efforts Involved
On the basis of the buyers' time and effort.
1. Convenience Products: Convenience goods are consumer products that are frequently purchased for immediate use. Medicines, newspapers, stationery, toothpaste, and so on.
2. Shopping Products: Shopping products are those in which buyers spend a significant amount of time comparing the quality, price, style, suitability, and so on at various stores before making a final purchase. For example, electronic goods, automobiles, and so on.
3. Specialty Products: Specialty products are goods that have unique characteristics that compel customers to go out of their way to purchase them. For example, art, antiques, and so on.
B. Durability of Products
1. Non-durable Products: These are consumer goods that are consumed in a short period of time. For example, milk, soap, stationery, and so on.
2. Durable Products: Tangible items that can withstand repeated use, such as a refrigerator, radio, bicycle, and so on.
3. Services: Intangible services are those activities, benefits, or satisfactions that are sold, such as dry cleaning, watch repairs, hair cutting, postal services, doctor services, and so on.
Industrial Products
Industrial products are those that are used as inputs in the manufacturing process.
Characteristics
Number of Buyers
Channel Levels
Geographic Concentration
Derived Demand
Role of Technical Considerations
Reciprocal Buying
Leasing Out
Classification
Materials and Parts: items that are completely incorporated into the manufacturer's products.
Capital Items: the manufacture of finished goods, such as installations and equipment.
Supplies and Business Services: short-term goods and services that aid in the development or management of the final product. Repairs and maintenance, for example.
Branding:
Branding is the process of creating a corporate brand identity for consumers and imprinting that brand identity on their minds, which necessitates brand positioning and brand management.
Amazon's Jeff Bezos
The process of developing a product's distinct identity. It is the process of identifying a product by using a name, term, symbol, or design alone or in some combination.
Brand: A name, term, sign, design, or some combination of the above used to identify and differentiate the seller's products from those of competitors.
Advantages to the Marketers
Enables Product Differentiation Through Marking: It aids in distinguishing its product from that of its competitors.
Aids in the development of advertising and display programs
Differential Pricing: It allows a company to charge different prices for different products.
Ease of New Product Introduction
Advantages to the Customers
Aids in Product Identification: Assists customers in identifying products.
Ensures Quality: Ensures product quality
Status Symbol: Brands become status symbols due to their quality As an example, consider Benz automobiles.
Characteristics of Good Brand Name
Short, simple to say, spell, recognize, and remember
Suggest the product's advantages and characteristics.
Different from other products
Adaptable to packing or labeling requirements, as well as different advertising media and languages.
Versatile enough to accommodate new products;
Legally registered and protected
Packaging
Packaging: The act of designing and developing a product's container or wrapper. Because good packaging often aids in the sale of a product, it is referred to as a silent salesman.
Levels of Packaging
1. Primary Package: This is the product's immediate container/covering, such as toffee in a wrapper, a match box, a soap wrapper, and so on.
2. Secondary Package: It's all about additional layers of protection that are kept until the product is ready for use, such as a red cardboard box for Colgate toothpaste.
3. Transportation Package: refers to additional packaging components required for storage, identification, and transportation, such as putting a package of toffees into cardboard boxes for storage at a manufacturer's warehouse and transportation.
Functions of Packaging
Product Identification: Packaging aids in product identification.
Product Protection: The primary function of the packaging is to protect the product.
Facilitating Product Usage: It makes transportation, stocking, and consumption easier.
Product Promotion: Packaging makes sales promotion easier.
Rising Health and Sanitation Standards: It is believed that there is minimal adulteration in packaged goods.
Self-Service Outlets: Good and appealing packaging can help to promote a product.
Opportunities for Innovation: Packaging innovation has increased the shelf life of products.
For example, tetra packs for milk.
Product Differentiation: The color, size, material, and other characteristics of packaging influence customers' perceptions of the product's quality.
Labelling
Labeling is the process of affixing identification marks to a package. Labels are information carriers that provide information such as the name of the product, the name of the manufacturer, the contents of the product, the expiry and manufacturing date, general information for use, weight, and so on.
Labels Perform Following Functions:
1. Identify the product: It assists customers in identifying the product among the various types of products available. For example, the purple color of a Cadbury chocolate label easily distinguishes it from other chocolates.
2. Describe and specify the product's contents: The manufacturer provides all information regarding the product's contents, etc.
3. Product grading: With the help of labels, products can be classified into different categories based on quality, nature, and so on, for example: Brooke Bond Red Label, Brooke Bond Yellow Label, Brooke Bond Green Label, and so on.
4. Aids in product promotion: Attractive and colorful labels excite customers and entice them to purchase the products. For example, 40 percent extra free, as stated on detergent, buy two get one free, and so on.
5. Providing legal information: There is a legal requirement to print the batch number, maximum retail price, weight/volume on all products, and a statutory warning on the packet of cigarettes, âSmoking is harmful to one's healthâ: In the event of a hazard on/poisonous material, appropriate safety warnings should be posted.
ii. Pricing
Meaning of Price:
It is considered as the sum of the values that customers exchange in exchange for the benefit of owning or using the product. Price can thus be defined as the sum of money paid by a buyer (or received by a seller) in exchange for the purchase of a product or service.
Factors Determining Price Determination:
1. Pricing Objectives
The marketing firm's goal is to maximize profits. Pricing objectives can be determined in both the short and long run. If the company wants to maximize profits in the short run, it will charge the highest price for its products. However, in order to maximize its total profit in the long run, it would choose a lower per unit price in order to capture a larger share of the market and earn higher profits through increased sales.
2. Product Cost:
Price should cover all costs and aim to earn a reasonable profit above and beyond the cost.
It takes into account the costs of manufacturing, distribution, and sale of the product.
Costs establish the floor price, or the lowest price at which the product can be sold.
The price should rise. Total costs (Fixed costs/overheads + Variable costs + Semi-variable costs) in the long run, but in certain circumstances (introduction of a new product or entry into a new market), the product price may not cover all costs for a short period of time.
3. Utility and Demand:
The utility provided by the product, as well as the demand for the product, determine the maximum price that a buyer will be willing to pay for that particular product.
Buyers would be willing to pay until the utility of the demand exceeded or equaled the utility derived from it.
According to the law of demand, consumers buy more at a lower price.
Demand elasticity is the responsiveness of demand to changes in product prices. If a small change in price leads to a larger change in quantity demanded, demand is elastic. Firms can set higher prices if demand is inelastic.
4. Extent of Competition in Market:
Before setting prices, competitors' prices and anticipated actions must be considered.
5. Government Policies:
In the public interest, the government can intervene to regulate product prices.
6. Marketing Methods Used:
Other marketing elements such as distribution system, sales promotion efforts, packaging type, product differentiation, credit facility, and so on all have an impact on the price fixing process.
iii. Physical Distribution
A series of decisions must be made in order to make the product available for purchase and consumption by customers.
The marketer must ensure that the product is available in sufficient quantities, at the appropriate time, and in the appropriate location.
A channel of distribution is a group of companies and individuals who take title, or assist in the transfer of title, to specific goods or services as they move from producers to consumers.
Choosing an appropriate channel of distribution is a critical marketing decision that affects an organization's performance. It is a strategic decision whether the firm will use direct marketing channels or long channels involving a number of intermediaries.
1. Order Processing: Provide accurate and timely order processing, without which orders would arrive late or in the wrong quantity. As a result, customers will be dissatisfied, with the risk of losing business and goodwill.
2. Transportation: It transports goods from manufacturers to consumers, making the product available at the point of sale.
3. Inventory control: Choosing the level of inventory is an important inventory decision. Additional demand can be met in less time, and inventory requirements will be minimal.
4. Warehousing: The act of storing and sorting products in order to create time utility in them is referred to as warehousing. It is required to bridge the gap between the time the product is manufactured and the time it is distributed for consumption.
Components of Physical Distribution:
Functions of Distribution Channels
1. Sorting: Middlemen obtain supplies of goods from a variety of sources, which are not always of the same quality.
2. Accumulation: the accumulation of goods into larger homogeneous stocks that aid in the maintenance of a continuous flow of supply.
3. Allocation entails dividing homogeneous stock into smaller, more marketable lots.
4. Assorting: the collection of products for resale.
5. Product Promotion: Middlemen take part in activities such as demonstrations, special displays, and so on.
6. Bargaining: Manufacturers, intermediaries, and customers bargain over price, quality, and other issues.
7. Risk Taking: Merchant middlemen take title to the goods, assuming risks such as price and demand fluctuations, spoilage, destruction, and so on.
Channels of Distribution
Consists of a network of firms, individuals, merchants, and functionaries who assist in the transfer of title to a product from the producer to the end consumer.
Intermediaries help to cover a large geographical area and increase distribution efficiency, including transportation, storage, and negotiation. They also provide customers with convenience by having a variety of items available in one location, as well as serving as an authentic source of market information because they are in direct contact with the customer.
Types of Channels:
Direct Channel ( Zero Level)
The manufacturer and the customer establish a direct relationship. Manufacturer-Customer. For example, mail order, internet, and door-to-door sales.
Indirect Channel
The distribution network is referred to as indirect when a producer uses one or more intermediaries to move goods from the point of production to the point of sale.
1. Manufacturer-Retailer-Customer (One Level Channel)
Between the manufacturers and the customers, one intermediary, namely retailers, is used. Typically used for high-end items such as watches, appliances, automobiles (Maruti Udyog), and so on.
2. Manufacturer-wholesaler-Retailer-customer (Two Level Channel):
This channel is primarily used for consumer goods distribution. Typically used for consumer goods such as soaps, salt, and so on.
3. Manufacturer â Agent â Wholesaler â Retailer â Customer (Three Level Channel):
Manufacturers use their own selling agents or brokers in this case, who connect them with wholesalers, then retailers, and finally consumers.
Factors Determining Choice of Channels of Distribution
The selection of an appropriate channel of distribution is a critical marketing decision.
1. Product Related Factors: The nature of the product, whether it is industrial or consumer goods, perishable or nonperishable, etc., determines the distribution channels used.
2. Company Characteristics: The company's financial strength and the level of control it wishes to exert over other channel members. Short channels are used to exert more control over intermediaries and vice versa.
3. Competitive Factors: Companies may copy the channels used by their competitors.
4. Market Factors: The size of the market as well as the geographical concentration of potential buyers influence channel selection.
5. Environmental Factors: Legal constraints and a country's economic situation. In a down economy, marketers use shorter distribution channels.
iv. Promotion
Promotion is the use of communication with the dual goal of informing potential customers about a product or a service as well as persuading them to purchase it.
Promotion is a critical component of the marketing mix in which marketers use various communication tools to encourage the exchange of goods and services in the market.
It is a set of promotional tools/techniques used by a company to entice and persuade customers to buy its products.
Promotion Mix
A promotion mix is considered as a combination of promotional tools used by a company to achieve its communication goals.
Promotion mix tools:
(i) Advertising,
(ii) Personal Selling,
(iii) Sales Promotion,
(iv) Publicity.
1. Advertising
Advertising, as defined by a specific sponsor, is a paid form of nonpersonal presentation and promotion of goods, services, or ideas.
The most widely used promotional tool. It is a cold, impersonal form of communication that is paid for by marketers (sponsors) to promote their products and services. Newspapers, magazines, television, and radio are all common mediums.
Features
Paid Form: The sponsor must bear the cost of communicating with customers.
Lack of Personalization: There is no direct face-to-face contact between the prospect and the advertiser.
Identified Sponsor: Advertising is done by a specific person or company.
Merits
Mass Reach: a large number of people can be reached across a large geographical area.
Increasing customer satisfaction and trust.
Expressiveness: It is a powerful medium of communication.
Economy: Because of its wide reach, is a very cost-effective mode of communication.
Limitations
Less Forceful: There is no pressure on the prospects to listen to the message.
Feedback Deficit:
Inflexibility: It is less flexible because the message is standardised and not tailored to the individual.
Low Efficacy: It is difficult to get advertising messages heard by the intended prospects.
Objections to Advertising
Some critics argue that advertising is a social waste because it raises costs, multiplies people's needs, and undermines social values.
1. Adds to Cost: Unnecessary advertising raises the cost of the product, which is then passed on to the buyer in the form of high prices.
2. Undermines Social Values: It undermines social values while encouraging materialism.
3. Confuses the Buyers: A similar product of the same nature/quality confuses the buyer.
4. Encourages Sale of Inferior Products: It makes no distinction between superior and inferior goods.
5. Some Advertisements are in Bad Taste: These depict something that some people do not agree with.
2. Personal Selling
Personal selling entails personally contacting prospective buyers of a product, i.e. engaging in a face-to-face interaction between seller as well as the buyer for the purpose of sale.
Features of the Personal Selling
1. Under personal selling, personal contact is established.
2. Establishing relationships with prospective customers, which are critical in closing sales.
3. Oral communication
4. Quick response to queries.
Merits of Personal Selling
1. Flexibility
2. Direct Feedback
3. Minimum wastage
Role of Personal Selling
Importance to Business Organisation
(i) Effective Promotional Tool
(ii) Versatile Tool
(iii) Reduces Effort Wastage
(iv) Consumer Attention
(v) Long-Term Relationship
(vi) Personal Relationship
(vii) Role in the Introduction Stage
(viii) Customer Relationship
Importance to Customers
(i)Assist in the Identification of Needs
(ii) Up-to-date market information
(iii) Expert advice
(iv) Customers are enticed
Importance to Society
(i)Converts the most recent demand
(ii) Employment Possibilities
(iii) Job Opportunities
(iv) Salesperson Mobility
(v) Standardization of Products
3. Sales Promotion
Short-term incentives or other promotional activities that aim to pique a customer's interest in purchasing a product are referred to as sales promotion.
Merits of Sales Promotion
Attention Value: Using incentives, attract people's attention.
Useful in New Product Launch: Sales promotion tools persuade people to abandon their usual purchasing habits and try new products.
Synergy in Total Promotional Efforts: Sales promotion activities contribute to the overall effectiveness of a company's promotional efforts.
Limitations of Sales Promotion
Reflects Crisis: A company that frequently relies on sales promotion activities may give the impression that it is unable to manage its sales and that its products are unpopular.
Damages Product Image: Customers may believe that the products are of poor quality or are overpriced.
Commonly Used Sales Promotion Activities
Product Combination: Including another product as a free gift with the purchase of one.
Rebate: Providing products at reduced prices.
Instant draws and assigned gifts: Scratch a card and instantly win a prize with the purchase of a TV, Tea, or Refrigerator, for example.
Lucky Draw: a lucky draw coupon for free gasoline when a certain amount is purchased, and so on.
Useful Benefit: 'Purchase goods worth Rs 3000 and get a holiday package worth Rs 3000 free,' and so on.
Full finance at 0%: Many marketers of consumer durables such as electronics, automobiles, and so on offer simple financing schemes such as "24 easy instalments" and so on.
Contests: Holding competitive events that require the use of skills or luck, etc.
Quantity Gift: Providing an extra quantity of the product, for example, "Buy three, get one free."
Refunds: Refunding a portion of the price paid by the customer upon presentation of proof of purchase.
Discount: Selling products at a lower price than the list price.
Sampling: Provide free product samples to potential customers. Typically used at the time of a product's introduction.
4. Publicity
Publicity occurs when favorable news about a product or service is broadcast in the mass media. For example, if a manufacturer makes a breakthrough in the development of a car engine and this news is covered by television, radio, or newspapers as a news item.
Features of Publicity are:
I. Publicity is a form of communication that is not compensated.
II. There is no identified sponsor
5. Public Relations
Public relations encompasses a wide range of tactics and is typically concerned with providing information to independent media outlets in the hope of obtaining favorable coverage. It also includes a mix of promoting specific products, services, and events as well as promoting an organization's overall brand, which is an ongoing tactic.
Role of Public Relations:
1. Press Relations: A press release is an announcement of an event, performance, or other newsworthy item issued to the press by an organization's public relations professional. It is written in the form of a positive story with an appealing heading in order for the media to quickly grasp and spread the message.
2. Product promotion: The company tries to draw attention to new products by organizing sporting and cultural events such as news conferences, seminars, and exhibitions, among other things.
3. Corporate Communication: The image of the organization is promoted through newsletters, annual reports, brochures, and other means.
4. Lobbying: The organization maintains cordial relations with government officials and ministers in charge of corporate affairs, industry, and finance in regard to business and economic policies.
5. Counseling: The public relations department advises management on general issues affecting the public and the company's position.
Maintaining Good Public Relations also Helps in Achieving the Following Marketing Objectives:
(a) Building awareness
(b) Building credibility
(c) Stimulates sales force
(d) Lowers promotion costs
Difference Between Advertising and Personal Selling
Advertising
An impersonal mode of communication
The transmission of standardised messages
An inflexible mode of communication
Broad reach
Low cost per person reached
Cover the market in a short period of time.
Makes use of mass media
Lacks direct feedback
Effective in generating and maintaining interest
Consumers are the primary target market
Personal Selling
Personal form of communication
Non-standardised messages
Flexibility
Limited reach
High cost per person
Extensive efforts to cover the entire market
Makes use of sales personnel.
Immediate and direct feedback
Plays an important role in the awareness stage
The Target market is comprised of industrial buyers
Class 12 Business Studies Chapter 11 Revision Notes
Introduction to class 12 business studies marketing revision notes.
By following the Chapter 11 Class 12 Business Studies Revision Notes, students will get the meaning of the term âmarketingâ and will be able to understand the distinction between âmarketingâ and âsellingâ. The Class 12 Marketing Notes enlist the functions of marketing, its role in the development of an economy in terms of society, firms, and consumers.
The Class 12 Revision Notes Chapter 11 comprise explanations of the different elements of the marketing mix, its classification into different categories, the factors that affect price determination, the types of distribution channels, and the tools of promotion mix like sales promotion, personal selling, publicity, and advertising.
Meaning of Marketing
The market is commonly referred to as a place where sellers and buyers carry out transactions for the involvement of the exchange of services and goods. Marketing is widely defined as the performance of the business activities that direct the flow of services and goods from producers and consumers.
(Image to be added soon)
There are four significant and crucial features of Marketing.
Customer Value - Customer value is the process of marketing that facilitates the exchange of the services and products between the buyers and sellers.
Needs and Wants - Needs and wants is another vital process of marketing that helps groups or individuals to obtain what they need and what they want.
Exchange Mechanism - The exchange mechanism is the process of marketing that involves the exchange of services and products for money or some other products.
Creating a Market Offering - The creation of market offerings like taste, size, or quality that are available at a given location or outlet.
A few functions of marketing that helps in the exchange of goods and services are as follows.
Product Development and Designing:- Product design plays a vital role in the selling of a product. A company whose product is designed better sells more products than the companies whose products are weakly designed.
Labelling and Packaging:- Packaging refers to the development and design of packages for the products, while labelling refers to the development and design of labels to be put on the package.
Customer Support Services:- This refers to the services provided to consumers such as adjustments, sales services, and handling customer complaints. All the services aim to present maximum consumer satisfaction.
Analyzing and Gathering Market Information:- This is a crucial function of marketing that quickly identifies the consumerâs needs and helps to facilitate
Warehousing or Storage:- A proper storage maintains the smooth flow of products and services in the market. The need for storage is essential to ensure the adequate stock of goods or products against unavoidable delays or to cover up the contingencies in demand. Retailers and wholesalers play a vital role.
Key Benefits of Referring to Revision Notes for CBSE Class 12 Business Studies Chapter 11 Marketing
Referring to Revision Notes for CBSE Class 12 Business Studies Chapter 11 Marketing, it will help you to:
Solve any type of questions asked from this particular chapter in the exam confidently.
Strengthen your chapter concepts
Minimise your exam stress and anxiety
To keep track of all the important topics covered in the chapter.
Enhance your conceptual clarity
The CBSE Class 12 Business Studies Chapter 11 Marketing revision Notes supplied in this article provide an overview of the chapter and assist you in preparing the chapter so that every idea is addressed in accordance with the syllabus standards. CBSE Quick Notes Business Studies Chapter 11 Marketing are excellent for last-minute rapid revision. Download the CBSE Class 12 Business Studies Chapter 11 Marketing revision Notes to successfully try all chapter questions in the test.
FAQs on Marketing Class 12 Notes CBSE Business Studies Chapter 11 (Free PDF Download)
1. Define Marketing Mix and enlist its elements.
The marketing mix is the total of policies formulated with a view of the successful completion of the multiple marketing activities. The main goal is to attract all types of consumers.
Elements of Marketing Mix:- There are four primary elements-
Product â refers to the decisions relating to the product
Price â Price mix refers to the decisions related to price fixation of product or service.
Place â refers to activities that make a firmâs products available to the target customers.
Promotion â refers to the combination of promotional tools used by the business to inform customers about the products.
2. State the difference between marketing and selling.
The difference between Marketing and Selling are as follows-
Marketing starts before the goods or services are produced while selling starts after the production has taken place.
Marketing entails a variety of marketing operations, whereas selling is accomplished through advertising, sales promotion, and personal selling strategies.
Marketing maximises profits via customer happiness, whereas selling maximises profits by number of sales.
The primary goal of marketing is to satisfy customers, whereas the primary goal of selling is to attract customers.
3. What does Chapter 11 âMarketingâ teach students?
Chapter 11 "Marketing" teaches pupils about crucial components of company marketing. Students will understand the definition of marketing, the distinction between marketing and selling, marketing functions, and key aspects of the marketing mix. Students will also comprehend the classification of various product categories, distinct product distribution methods, and significant promotional tactics. Students may utilise Vedantu's Revision Notes Chapter 11 to better comprehend the material. Kids can also utilise these notes to study for exams.
4. Where can I find Revision Notes for Chapter 11 Class 12 Business Studies?
In today's society, Business Studies is a fascinating and vital topic. Students will certainly appreciate it as they learn about many areas of business. When studying for this topic, students may be expected to study a considerable quantity of knowledge. They don't need to be concerned since Vedantu is always eager to assist. Simple revision notes for Class 11 Business Studies will be available to students. These notes are very valuable for students, especially for last-minute study before exams.
5. Is Chapter 11 of Class 12 Business Studies easy?
Business studies is a fascinating topic. People with a natural aptitude for business can undoubtedly benefit from understanding the various business fundamentals. Yet, like with any topic, if you do not attempt to comprehend the fundamental principles of Chapter 11, it may look frightening to you. Chapter 11 of Class 12 Business Studies will be a breeze if you study the ideas and problem diagrams well and recall the key definitions.
6. What do you mean by âBrandingâ?
Branding is the process of developing a company's distinctive identity via the creation of a distinct brand for the business. This include developing a company's name, image, and logo. This is regarded as a key part of decision-making in any company's marketing. To sell their business, successful organisations employ effective branding techniques. Effective branding leads to more customers and more successful product marketing.
7. How are products classified?
Products of a company are classified into two major categories:
Consumer products: These are products directly purchased by the consumers for their personal use. Such consumer products comprise three types
Convenience productsÂ
Shopping products
Speciality products
Industrial products: These are products used for producing other products. These include materials and parts, capital items, and supplies, and business services.
Vedantu provides useful notes for this topic on their website. You can access these revision notes from the Vedantu app.
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Marketing Management Class 12 Business Studies Notes and Questions
Please refer to Marketing Management Class 12 Business Studies notes and questions with solutions below. These revision notes and important examination questions have been prepared based on the latest Business Studies books for Class 12 . You can go through the questions and solutions below which will help you to get better marks in your examinations.
Class 12 Business Studies Marketing Management Notes and Questions
Q. 1. Zoom Udyog, a car manufacturing Co., has started its business with Zoom 800 and slowly launched Zoom-1000, Wagon-Z, Swy-fy etc. and offered various services like after sale services, availability of spare parts etc. Identify the element of marketing mix referred here. Ans. Product Q. 2. Radha found a worm crawling out of newly opened tetra pack of a juice manufactured by a reputed company, Zest, Ltd. She went back to the shopkeeper from whom the pack was purchased who directed her to call up the customer care centre. When all her efforts failed, she went to a consumer activist group to seek help. The group decided to help Radha and taken measures to impose restrictions on the sale of the firmâs products of the particular batch and urge customers to refrain from buying the products of the company. Zest Ltd. lost its image in the market. The CEO gives the responsibility of bringing back the lost image of the company to a Manager. 1. Identify the concept of Marketing Management which will help the Manager getting the firm out of the above crisis. 2. Also explain the role of above identified concept by stating any two points. Ans. 1. Public Relations 2. Role of Public Relations: 1. Product Publicity: 2. Counseling: Q. 3. The manager of Impact Enterprise, dealing in cosmetics, is facing the problem of poor sales. Suggest the four promotional measures that he can undertake to improve the sales. Also, name the factors affecting their choice. Ans. The manager of Impact Enterprise, dealing in cosmetics, should take the following four promotional measures to improve the sales: 1. Advertising 2. Sales promotion 3. Personal selling 4. Publicity Factors affecting choice of promotional tool: 1. Nature of market 2. Nature of product 3. Promotions budget 4. Objectives of promotion Q. 4. A mobile company is launching a new high tech mobile phone in the market. Which department is going to look into the techniques iof promoting it? Ans. Public Relations (PR) Department Q. 5. Identify the Marketing Management philosophy adopted in the following cases: 1. Mansi, a shoe manufacturer for school students, decided to maximize her profit by producing and distributing at large scale and thereby reducing the average cost of production. 2. Nisha, a school bag manufacturer decided to improve the product for profit maximization and thus added a water bottle holder to the existing design. 3. Jasdeep, a dealer in school uniforms, decided to maximize his profit by using different aggressive promotional efforts. 4. Amar is engaged in manufacturing of refrigerators. He surveyed the market and found that customers need a refrigerator with a separate provision of water cooler in it. He decided to launch the same refrigerator in the market. Ans. 1. Production concept 2. Product concept 3. Selling concept 4. Marketing concept Q. 6. Identify the method of sales-promotion in the following cases: 1. A mobile company offers a discount of Rs. 1000 to clear off excess inventory. 2. A customer gets Rs. 5 off on return of an empty wrapper while making a new purchase of the same product. 3. A Company offers a pack of 1/2kg of sugar with the purchase of a 5 kg bag of wheat flour. 4. A Company offers 40% of extra shaving cream in a pack of 500 gms. 5. Scratch a card and get a gold coin with the purchase of a cold drink. 6. Purchase goods worth Rs. 50,000 and get a holiday package worth Rs. 10,000 free. Ans. 1. Rebate 2. Refund 3. Product-combination 4. Quantity-gift 5. Instant draws and assigned gift 6. Usable Benefit / Lucky Draw Q. 7. âVarious tools of communication are used by the marketers to promote their products.â 1. Why do companies use all tools at the same time? 2. Name and explain the most commonly used non-personal tool of promotion which is paid for by the marketer. 3. Which tool of promotion will primarily be used for the following? 1. To promote or protect a companyâs image or its individual products. 2. An existing product meant for mass usage by literate people. 3. To introduce a new product to a particular class of people through door-to-door visits. 4. To attract attention of the people by using incentives. (6 marks) Ans. 1. The companies use all tools at the same time because of the nature of market, nature of product, promotion budget and objectives of promotion being different at different times. 2. The most commonly used non-personal tool of promotion which is paid for by the marketer is advertising. It is a paid and non-personal form having an identified sponsor to promote an idea. 3. The tools of promotion used are: 1. Public Relations 2. Advertisements 3. Personal selling 4. Sales Promotion Q. 8. Good Living Ltd. manufactures mosquito repellent tables. These tablets are packed in strips of 12 tablets each. Each of these strips are packed in a cardboard box, 48 such boxes are then placed in a big corrugated box and delivered to various retailers for sale. State the purpose of packaging the tablets in a corrugated box. Ans. The packaging of tablets in a corrugated box is necessary for the purpose of storage, identification and transportation. Q. 9. Shreemaya Hotel in Indore was facing problem of low demand for its rooms due to off season. The Managing Director (MD) of the hotel, Mrs. Sakina was very worried. She called upon the Marketing Manager, Mr. Kapoor for his advice. He suggested, that the hotel should announce an offer of â3 days and 2 Nights hotel stay package with free breakfast and one day religious visit to Omkarehswar and Mahakaleshwar Templesâ. The MD liked the suggestion very much. Identify the promotional tool, which can be used by the hotel through which large number of prospective pilgrimage tourists, all over the country and also abroad, can be reached, informed and persuaded to use the incentive. Ans. Sales Promotion Q. 10. âEvery time I travelled, people asked me to bring them chips, khakra and pickles from all over the country,â says Anoushka. Finally, she and her colleague, Sumemet, decided to make out of it. They launched a face book bags, asked people what they wanted, and they came up with a list of about 100 places and tried up with two dozen vendors to begin with. They were servicing people from Jaipur who wanted spices from Kerala, people form Panipat who wanted halwa from Jammu and people from Delhi who ordered for fresh tea leaves form Darjeeling. Through their business they wished to bridge the gap between sellers nd buyers. The business is now worth millions. Explain any two important activities that Anoushka and Sumeet will have to be involved in for making the goods available to the customers at the right place, in the right quantity and at the right time. Ans. Activities / Components of Physical Distribution: (any two) 1. Order processing: 2. Transportation; 3. Warehousing: 4. Inventory Control: Q. 11. âBeauty Products Ltdâs is a natural and ethical beauty brand famous for offering organic beauty products for men and women. The company uses plant based materials for its products and is the No. 1 beauty brand in the country. It not Identify the marketing management philosophy being following by âBeauty Products Ltd.â Ans. Social marketing concept. Q. 12. âHaryaramâ is a famous chain selling a large variety of products in the Indian market. Their products include chips, biscuits, sweets and squashes. It charges a comparatively higher price than its competitors as it sells quality products. Besides, it offers regular discounts to its customers and easy credit terms to its retailers. It has five of its own retail shops. It also sells its products through various grocery stores to that the products are made available to customers at the right place, in the right quantity and at the right time. It regularly uses different communication tools to increase its sales. The above para describes the combination of variables used by Hayaram to prepare its market offering. Identify and explain the variables. Ans. The combination of variables used by Hayaram to prepare its market offering are: 1. Product âtheir products include chips, biscuits, sweets squashes.â 2. Price âIt offers regular discounts to its customers and easy credit terms to its retailersâ. 3. Place / Physical Distribution âIt has five of its own retail shops.â or âIt also sells its products through various grocery stores âŚright time.â 4. Promotion âIt regularly uses different communication tools to increase its sales.â Q. 13. âMaruti Vega Ltd.â entered into the market with coloured television and have now introduced products like audio systems, air-conditioners, washing machines, etc. the company is not only offering the products but also handling complaints and offering after-sales services. Identify the element of marketing-mix discussed here. Ans. Product/ Product mix. Q. 14. Radhika was a student of Business Studies of Call XII. Her father was a farmer who grew different varieties of rice and was well-versed about various aspects of rice cultivation. He was also selected by the government for a pilot-project on rice cultivation. As a project-work in Business Studies she decided to study the feasibility of marketing good quality rice at a reasonable price. Her father suggested her to use internet to gather customersâ views and opinions. She found that there was a huge demand for packaged organic rice. She knew that there were no pre-determined specification in case of rice because of which it would be difficult to achieve uniformity in the output. To differentiate the product form its competitors, she gave it the name of Malabari Organic Riceâ and classified it into three different varieties namely â Popular,, Classic and Supreme, based on the quality. She felt that these names would help her in product differentiation. Explain the three function of marketing, with reference to the above paragraph. ( Ans. Functions of marketing, with reference to the above paragraph are: 1. Gathering and analyzing market information: 2. Standardization and Grading: 3. Branding: Q. 15. A Company was marketing water purifiers which were very popular due to their quality and after sales services provided to the customers. The company was a leading company in the market and earning huge profits. Because of huge profits, the company ignored the after sales services. As a result, its relations with customers got spoiled and the image of the company was damaged in the public. The top management became concerned when the profits for the current quarter fell steeply. On analysis, it was revealed that ignoring the after sales services was its reasons. Therefore, the company took all possible measures to protect and promote its favourable image in the eyes of the public. As a result, the goodwill of the company improved in the society. 1. Name and state the communication tool used by the marketer in the above case to improve its image. 2. Also explain role of the tool as identified in part (a) Ans. 1. Public Relations is being used as a promotional tool by the marketer. It refers to the practice of managing communication between an organization and its publics in order to create the maintain a positive image about itself and its products. 2. The role of public relations as a promotional tool is described below: 1. Public relations helps to create a positive image about the company in the eyes of various interest holders like consumers, government, suppliers etc. 2. It helps in launching new products as they may be accepted easily because of good reputation of business. 3. It helps the business to reinstate itself in the wake of controversies or prejudices etc. Q.16. Crackers Ltd., a fire-cracker manufacturing company launched some new products on eve of Diwali which attracted many buyers. To meet the increased demand, the company employed children from nearby villages. Although the product was in great demand, appropriate safety warning for use were not mentioned on the packets that led to many accidents. 1. Identify and explain the important product-related decision that was not taken into consideration by the company. 2. Also, identify any two values which were violated by the company. Ans. 1. The company has ignored âLabelingâ. It is an important product-related decision. Labeling refers to the process of designing a label for a product containing product description and the relevant information which is likely to affect a prospective buyers decision in making a purchase.It may vary from a simple tag to a complex graphic. The two values being violated by the company are: 1. Abiding by law as child labour has been employed 2. Concern for human life as appropriate warnings were not placed on the label. Q. 17. ABC Crackers Ltd., a fire-cracker manufacturing company, launched some new products on the eve of Diwali in the market which attracted many buyers. To meet the increasing demand, the company employed people from nearby villages where there was a lot of unemployment. Because of the good behavior of the management with the employees, more and more people wanted to join the company. As the products were in great demand in the market, a competitor imitated the products. The products of the competitor were not accepted by the consumers as it was a status symbol to buy the products of ABC Crackers Ltd. because of their quality. 1. Identify and explain the product-related decision because of which consumers preferred the products of ABC Crackers Ltd. 2. Also, identify any two values which ACB Crackers Ltd. wanted to communicate to the society. Ans. 1. Branding is the product-related decision because of which consumers preferred the products of ABC Crackers Ltd. Branding is the process of assigning a name (brand name), sign or symbol (brand mark) or a combination of all to a product.Branding facilitates product differentiation, assists in advertising and display programmes, facilitates differential pricing, promotes consumers loyalty etc. The two values that ABC Crackers Ltd. wants to communicate to the society are: 1. Generating employment opportunities 2. Providing good working environment. Q. 18. As a project work in Business Studies, the Commerce students of Himachal Public School, Himachal Pradesh though of preparing apple jam from the apples grown in their school premises and sell it in the school annual fete. They approached the Principal who not only appreciated the students but also gave her consent for the same. The schooldecided to donate 50% of the revenue generated from the sale to a nearby orphanage. After the school fete, the school also decided to extend this project by providing employment to visually challenged and disadvantaged sections of society or regular basis. 1. Explain any two product-related decisions which the students had to take. 2. Suggest any two functions that the âlabelâ of the jam-bottle must perform. 3. Identify two values communicated to society by this project of Himachal Public School, Himachal Pradesh. Ans. 1. The two product-related decisions which the students had to take are branding and packaging. 2. The two important functions that the label of the jam â bottle must perform are: â Describe the product and specify its contents: â Helps in identification of the product or brand: 3. The two values communicated to the society by the project of Himachal Public School are: â Generating employment opportunities â Humanity Q. 19. Ajay was appointed as the marketing head of Alfa Enterprise, a manufacturer of toothpastes and toothbrushes. His target sale was 2000 units a month. Apart from thinking about various channels of distribution to achieve the target, he himself started visiting schools in backward areas. He found that even after taking various steps and counseling, some school children had not started brushing their teeth. He investigated and found that they could not start brushing their teeth. He investigated and found that they could not afford to buy toothbrush and toothpaste. So with due permission, he started donating 200 toothbrushes and toothpastes every month to the school. 1. Identify the channel of distribution Ajay would adopt for the distribution of toothpaste and toothbrushes and justify it by giving one reason. 2. State any two values which Ajay ants to communicate to society. Ans. 1. Ajay would adopt indirect channels of distribution for marketing of toothpaste and tooth brushes because it is a consumer product. It can be easily marked through longer channels, for example (Manufacturer â Wholesaler â Retailer â Consumer). 2. The two values that Ajay wants to communicate to the society are: 1. Good health 2. Social welfare Q. 20. Amar is engaged in the manufacturing of refrigerators. He surveyed the market and found that customers need a refrigerator with a separate provision of water cooler in it. He decided and launched the same refrigerator in the market. Identify and explain the marketing philosophy involved. Ans. Amar is following the philosophy of marketing concept. The prime focus of marketing concept is to âfind wants and fill themâ. Therefore, the marketer first assesses the needs and preferences of its target market and manufacturers products accordingly in order to satisfy their needs and wants optimally. It aims at profit maximization through customer satisfaction. Q. 21. Mansi, a shoe manufacturer for school students, decided to maximize profits by producing and distributing shoes on a large-scale and thus reducing the average cost of production. 1. Identify the marketing management philosophy adopted by Mansi. 2. Explain this philosophy on the basis of the following: â Main Focus â Means and Ends Ans. 1. Mansi has adopted the production philosophy. 2. Means: The production philosophy can be brought into effect by making products affordable and widely available. Ends: The production philosophy aims at maximizing profits through high volume of production. Q. 22. Unilever has found a new way to make ice creams by using an ingredient called âice structuring proteinâ which is widely found in nature especially, in fishes which allows them to survive in freezing arctic waters. Combining ISP with stabilizer technology allows to make ice creams that donât melt so easily thereby making it more convenient for small children and consumer in hot countries. In the context of above case: 1. Identify the component of marketing mix being taken into consideration by the company. 2. Explain briefly the function of marketing highlighted here. 3. List any two values that the company wants to communicate to the society. Ans. 1. The component of marketing mix being taken into consideration by the company is âProductâ. 2. Product designing and development: Every marketer strives to achieve his marketing objectives by creating offerings to satisfy a need or a want. Therefore one of the core functions of marketing is to develop the product in the most effective and efficient way. Every marketer endeavours to add value to his product by introducing constant innovations in the product to enhance both its utility and attractiveness in the eyes of the potential buyers and gain a competitive edge. 3. The two values that the company wants to communicate to the society are: â Responsibility towards consumers â Technological advancement. Q. 23. Ranger India Limited, is an automobile manufacturer in India. It makes 1.5 million family cars every year. Thatâs one car every 12 seconds. It has a sales network of company approved retailers that spreads across 600 cities. In the context of above case: 1. Identify the type of the channel of distribution adopted by the company. 2. State the market related factors that are likely to affect the decision of a marketer about the choice of channel of distribution. Ans. 1. Indirect channel: One level channel f distribution adopted by the company. 2. The market related factors that are likely to affect the decision of a marketer about the choice of channel of distribution are explained below: 1. Size of market: 2. Geographical concentration of potential buyers: 3. Quantity purchased: Q. 24. As a global leader in the consumer electronics and entertainment industries, Sony has set forth âRoad to Zero environmental planâ, to achieve a zero environmental effect by the year 2-050 by producing world-class products in a manner that both protects and promotes a healthy and sustainable planet. In the context of above case: 1. Identify the marketing philosophy being implemented by the company. 2. Outline the main focus and end of the relevant marketing philosophy. 3. State any two values that the company wants to communicate to the society. Ans. 1. Social marketing concept is being pursued by the company. 2. The main focus of this philosophy is on both the needs of the potential buyers as well as concern for the society at large. The ends include profit maximization through customer satisfaction and social welfare. 3. The two values that the company wants to communicate to the society are: 1. Concern for the environment 2. Welfare of the society Q. 25. As the number of people making online purchases has increase manifolds, there is a growing concern about the disposal and management of packaging waste. Every item bought is delivered with excess packaging and sometimes even non-biodegradable materials are used. In the context of above case: 1. Name the other two levels of packaging that the marketers may be using besides the immediate package. 2. Describe briefly any two points highlighting the functions of packaging. 3. State any two factors that should be kept in mind by the marketers while designing the packaging of its products. Ans. 1. Secondary packaging and Transportation packaging. 2. The functions of packaging in the marketing of goods and services is explained below: 1. Product Identification: 2. Product Protection: 3. The marketers should use biodegradable packaging material and packaging should enhance the usability of the products. Q. 26. Rastro Inc., is a multinational corporation that creates consumer electronics, personal computers, servers and computer software. The company also has a chain of retail stores known as Restro Stores. Despite high competition, Restro has succeeded in creating demand for its products, giving the company power over prices through product differentiation, innovation advertising and ensured brand loyalty. In the context of above case: 1. What is product differentiation? 2. Name any one function of marketing that facilitates product differentiation. 3. Identify the component of promotion mix being used by the company by Quoting lines form the paragraph. 4. Describe briefly the pricing objective pursued by the company. Ans. 1. Product differentiation is a strategy used by the marketers to gain an edge over its competitors by creating a distinguished perception of the product in the minds of the potential buyers in terms of its utilities. 2. Branding is a function of marketing that facilitates product differentiation. 3. Advertising is the component of promotion mix being used by the company âGiving the company power over prices through product differentiation, innovative advertising and ensured brand loyalty.â 4. Attaining product quality leadership: Besides aiming at profit maximization as its pricing objective Rastro Inc. seeks to establish a unique place for its products in the market by offering superior quality products which can be easily distinguished from its competitors. As a result, it is able to use differential pricing i.e. fixing up relatively higher prices for tits products. Q. 27. Reema, Vibha and Ratna are three women entrepreneurs who are engaged in dealing with handicraft goods under the brand name âGujkritiâ through a chain of retail outlets at five different places in delhi. Their outsource all their products from tribal and rural omen in the state of Rajasthan. Reema is of the opinion that in order to increase the sale of their products, they should advertise about it on television. But, Ratna is arguing that advertisement expenses will add to cost of operation. Whereas Vibha is insisting that they should set up an online portal to market their products across the globe. In the context of above case: 1. Identify the tool of promotion being taken into consideration by Reema by quoting lines from the paragraph. 2. How is the channel of distribution being suggested by Vibha different from the channel of distribution being used by them presently? 3. Do you think that Ratna is justified in here argument that advertisement expenses will add to cost of operations? Ans. 1. The tool of promotion being taken into consideration by Reema is advertising. (Reema is of the opinion that in order to increase the sale of their products, they should advertise about it on television.) 2. Vibha is insisting that they should set up an online portal to market their products across the globe i.e. adopting direct marketing or zero-level channel (manufacturer â consumer). Whereas at present they are using indirect channels of distribution i.e. one level channel (manufacturer â retailer â consumer) by operating through a chain of retail outlets at five different places in Delhi. 3. No, Ratna is not fully justified in her argument although advertising as a tool of promotion is often criticized on the ground that it adds to the cost of distribution which is passed on to the consumers in the form of higher prices. Therefore, it increases the burden on the consumers. But, this argument is not entirely true because advertisements help to increase demand for the product. In order to meet the increased demand the production levels have to be raised. As a result, the business is able to reap advantage of economies of scale and eventually the cost of production per unit comes down and benefits the buyers as the productâs prices are reduced consequently. Q. 28. Arvind is planning to start a company manufacturing room fresheners. He intends to use natural fruit extracts for adding fragrance to them. He estimates an investment of Rs. 20 crores to set up the factory. As it is difficult for him to raise the entire capital amount alone, he gives a partnership offer to his school friend, Sanjay who is an angel investor. Sanjay, after being convinced about the feasibility of the project, accepts his offer. Sanjay tells Arvind that they should also focus on other important decisions related to the product âroom freshenersâ besides deciding about its features, variety and quality. Branding is one of the important such decision. In the context of above case: 1. Name any other two important decisions related to a product. 2. Why is branding considered as an important function by the marketers? Give any one reason in support of your answer. 3. State any four features of a good brand name. Ans. 1. Labeling and Packaging are the two important decisions related to a product. 2. Branding is considered to be a very important decision by the marketers because it facilitates product differentiation. Through branding the prospective buyers are able to bring about a distinction between a company product and its substitutes available in the market. This helps the company to obtain a desirable market share. 3. The four features of a good brand name are stated below: 1. The brand name should be short, easy to pronounce, spell, recognize and remember e.g., Ponds. 2. A brand should suggest the productâs benefits and qualities e.g. Sunsilk. 3. A brand name should be distinctive e.g., Lotus. 4. It should be capable of being registered and protected legally. Q. 29. Suraj is a small entrepreneur involved in the manufacturing of hair wax. He finds that cost of production of 100 gm of hair wax is Rs. 250. He has decided to keep a margin of 15% as profit moreover, he has assessed that there is a free competition in this product segment. In the context of above case: 1. Identify the function of marketing being performed by Suraj. 2. State briefly the two factors that he is taking into consideration while performing the function as identified in part (a) Ans. 1. Pricing is the function of marketing being performed by Suraj. 2. The two factors that he is taking into consideration while performing the pricing function are as follows. 1. Cost of product: 2. Degree of competition: Q. 30. After doing a diploma in entrepreneurship, Farihad started his own confectionary business. He started doing a lot of hard work and used the recipes taught by his grandmother in various preparations. He also learnt many recipes from online sites and television programmes. He decided to keep the price of the products low initially and also informed his customers about the goodness of the items sold by them. However, he didnât mention on the package of each item weather it contained eggs or not. As a result, vegetarian people became hesitant in buying things from his shop as they had to verbally inquire from him about the inclusion of eggs in the preparation of various items. In the context of above case: 1. Name the important aspect related to the marketing of products which has been ignored by Farihad. 2. Explain briefly any free functions performed by the aspect as identified in part (a). 3. Mention the right of consumer being violated by Farihad. Ans. 1. The important aspect related to the marketing of products which has been ignored by Farihad is Labeling. 2. The three important functions performed by labeling are: 1. Describes the product and specifies its contents: 2. Helps in identification of the product or brand: 3. Enables grading of products: 1. The Right to information is being overlooked by the company in the above mentioned case. According to the right to information, a consumer has the right to get complete information about the product he / she intends to buy including its contents, date of manufacture, date of expiry, price, quantity, directions for use etc. Also, as per law, it is mandatory for the marketers to provide complete information about the product / service to the buyers. Q. 31. âShudh Hava Ltd.â is engaged in manufacturing of air conditioners and desert coolers. The company offers a wide range of products to meet the requirements of people from varied income groups. Recently the company has developed a new product, an air purifier that improves the quality of air by filtering out all allergens and microbes. The company introduced the product on two variants namely âNano Techâ and âNano Tech Premiumâ. In order to persuade people to buy the product it is offering easy payment options in equal monthly installments for different time periods. Moreover, every buyer will be offered âscratch a cardâ option to win instant gifts like decorative items, T-shirts etc. the company is also planning to organize competitive events based on skill and luck in various malls in different cities. In the context of above case: 1. Name and explain the âtype of promotion strategyâ adopted by the company to boost the sales of air purifiers. 2. Also, identify the various techniques of this promotional strategy being used by the company by quoting liens from the paragraph. 3. âThe company offers a wide range of products to meet the requirements of people from varied income group.â Name the relevant consumer right being promoted by the company. Ans. 1. The type of promotion strategy adopted by the company to boost the sales of air purifiers is Sales Promotion. Sales Promotion includes the various types of short term incentives offered by a marketer to increase the sale of a product or service. The various techniques of sales promotion being used by the company are listed below: 1. Full finance @ 0% – âIt is offering easy payment options in equal monthly installments for different time periods.â 2. Instant draws and assured gifts â âevery buyer will be offered âscratch a cardâ option to win instant gifts like decorative items, T-shirts etc.â 3. Contests â âThe company is also planning to organize competitive events based on skill and luck in the various malls in the different cities.â 1. Right to Choose is the consumer right being promoted by the company Q. 32. Nischay, after completing his masters in computer engineering decided to start his own business. He visited his uncle Mr. Jaiprakash who has been running a successful business in web designing. He shared with Nischay that the main reason for his success in the business lies in his approach of building web sites according to the specifications of the clients but also providing continuous online assistance to them and handling their grievances effectively and doing all this at a profit. He provides these services at competitive prices. Anybody interested in getting the web solutions can contact him through his website. Moreover, whenever the market is sluggish he tries to create demand by offering short-term incentives to the buyers. In the context of above case: 1. Define the term âMarketing Managementâ. 2. Briefly explain the various elements of marketing mix being pursued by Mr. Jaiprakash by quoting liens from the para. Ans. 1. Marketing management is âthe art and science of choosing target markets and getting, keeping, and growing customers through creating, delivering, and communicating superior customer valueâ â Philip Kotler 2. The various elements of marketing mix being pursued by MR. Jaiprakash area as follows: 1. Product: âhis business is not only restricted to designing web sites according to the specifications of the clients but also providing continuous online assistance to them and handling their grievancesâ effectively.â 2. Price: âdoing all this at a profit. He provides these services at competitive price.â 3. Place: âAnybody interested in getting the web solutions can contact him through his website.â 4. Promotion: âMoreover, ,whenever the market is sluggish he tries to create demand by offering short-term incentives to the buyers.â Q. 33. In todayâs world, through social media, news spread in a flash. Moreover, if it is bad news, it acquires a speed that is virtually impossible to stop. Hence, all corporate are more susceptible to a tarnished image today than in any other day and age. The loss of goodwill may lead to decreased revenue, loss of clients or suppliers and fall in market share. Over the year, therefore, most of the companies have set up a separate department to manage the public opinions about them. The department works in close coordination with the various interest groups like consumers, government, suppliers etc. and strives to handle effectively if any controversies arise. In the context of above case: 1. Identify the element of promotion mix being referred to in the above liens. 2. Briefly explain any three points highlighting the role of this element of promotion mix as identified in part (a) Ans. 1. The element of promotion mix being referred to in the above lines is Public Relations. 2. The role of public relations as a promotional tool is described below: 1. Public relations helps to create a positive image about the company in the eyes of various interest holders like consumers, government, suppliers etc. 2. It helps in launching new products as they may be accepted easily because of good reputation of business. 3. It helps the business to reinstate itself in wake of controversies or prejudices etc. Q. 34. Traditional trade or kriana stores constitute 90% of the FMCG (fast moving consumer goods) business in India. HUL is the market leader in FMCG with over 60 lakh outlets. According to industry estimates, Patanjali products are currently available in two lakh traditional retail outlets. âAvailability of the productâ is the single largest driver of FMCG sales. A shopper research suggests that 30% – 40% consumers shift preference if their favourite brand is not available at the store. In the context of above case: 1. Identify the component of marketing mix being discussed in the above liens. 2. State the two main decisions related to the concept identified in part (a) 3. Name the type of channel of distribution adopted by HUL. Ans. 1. The component of marketing mix being discussed in the above liens is place / physical distribution. 2. The two main decisions involved in physical distribution are: 1. Physical movement of goods from producers to consumers 2. Choice of channels of distribution 1. Indirect channel of distribution has been adopted by HUL. It is a two level channel i.e. (Manufacturer â wholesaler â retailer â consumer) Q. 35. Arun and Rukun are good friends. After doing a fashion designing course from a reputed institute, they have set up a garment factory in the rural area of Faridabad to manufacture trendy casual wear like jeans, T-shirts, shirts etc. under the brand name âSwatantraâ. They have employed people from the nearby villages itself in the factory. Moreover, they wish to sell the products through local retailers in the villages and also through âFlipkartâ. In the context of above case: 1. Identify the elements of marketing mix being taken into consideration by Arun. 2. Name the two methods of marketing adopted by them. 3. State any two values that are being fulfilled by them. Ans. 1. The elements of marketing mix being taken into consideration by Arun are product and place. 2. The two methods of marketing adopted by them are both direct and indirect marketing. 3. Two values that are being fulfilled by the are: 4. Generating employment 5. Raising the standard of living of the people in the village Q. 36. Yogesh buys a new laptop for his son Mukesh on his birthday from a company owned retail outlet. After a few months, some parts of the laptop get damaged in a road accident. Yogesh approaches the dealer to get the damaged parts replaced with the new ones. But, he is told that the company does not provide any after sale service to the customers. Yogesh feels very dissatisfied as a consumer and woes that he will never buy this companies product ever again. In the context of above case: 1. Identify the function of marketing being ignored by the company. 2. As a business advisor, suggest any two services that will be very effective in enhancing brand loyalty for any such product. 3. Name the appropriate redressal agency that he can approach in case he decides to file a case against the dealer. Ans. 1. The function of marketing being ignored by the company is customer support services. 2. As a business advisor, I would suggest the introduction of the following services that will be very effective in enhancing brand loyalty for any such product. 1. Setting up a separate department for handling consumer complaints. 2. Providing 365 days Ă 24 Ă 7 online assistance to the buyers for any maintenance or technical issues. 3. Yogesh can file a complaint in the District forum. Q. 37. Mr. Rajiv wants to buy LCD T.V. for his family. Now he has come to Jagota Electronics, Model Town, after coming to shop he get confused. Write the name of promotion tool which has brought him to the shop and promotion tool needed now. Also write the four points of importance of latter tool. Ans. The just promotion tool which brought Rajiv to the shop is advertisement and the promotion tool required now is personnel selling. Q. 38. Mr. Rajiv, the sales executive of ABC Ltd. possess good marketing techniques, his techniques involve oral presentation of message, convincing the customer with face to face interaction, etc. Ans. 1. Name the element of marketing mix under which the above technique fall. 2. Identify the element used by Rajiv. 3. Give any three merits of that technique: 1. Promotion 2. Personal Selling 3. Merits of Personal Selling Q. 39. ITC started its business with Jobaico Industry later on its entered in Hotel Industry, Consumer goods industry, stationery, etc. ITC assured quality to customer and kept companyâs name as its identity. This help the customers in product identification and hence ensured quality. It also built up their confidence and help in increasing their level of satisfaction. 1. Name the element of marketing mix referred in above para. 2. Name the other elements of marketing mix. 3. Name the concept which assure quality and help in identification of product. 4. Identify the value emphasized by ITC. Ans. 1. Product Mix. 2. Other elements: Price mix, Place mix, Promotion mix. 3. Concept which help in identifying the product and assure quality is branding. 4. (a) Value of supplying quality product. (b) Value of building confidence among customers. Q. 40. Ajay was appointed as a marketing head of Alfa Enterprise manufactures of toothpaste and tooth brushes. His target sale was zero units a month. Apart from thinking about various channels of distribution to achieve the target, he himself started visiting schools in backward areas. He found that even after taking various steps and counseling some school children had not started brushing their teeth. He investigated and found that they could not afford to buy toothbrush and toothpaste. So with due permission the started donating 200 toothbrush and toothpaste to schools. 1. Identify the channels of distribution Ajay would adapt for distribution of toothbrush and toothpaste, justify by giving reasons. 2. State any two values which Ajay want to communicate to society. Ans. 1. The channel of distribution Ajay would adapt is indirect because he is dealing with consumer goods. 2. Values which Ajay wants to communicate to society are: 1. Charity 2. Concern for underprivileged 3. Hygience 4. Sensitivity towards health. Q. 41. Nisha, a school bag manufacturer decided to improve the product for profit maximization and thus added a water bottle holder to the existing design. 1. Identify the marketing management philosophy adopted by Nisha and 2. Explain this philosophy on the basis of: 1. Main focus and 2. Means and ends. Ans. Product concept. Q. 42. Ayesha is manufacturing lunch boxes for school-going children. To maximize profit she decided to improve the quality and added a warmer for the lunch boxes. Due to this improvement in the product, the sale is increasing day by day. Identify and explain the marketing philosophy involved. Ans. Product concept. Q. 43. Mansi, a shoe manufacturer for school students, decided to maximize her profit by producing and distributing at large scale and thereby reducing the average cost of production: 1. Identify the marketing management philosophy adopted by Mansi. 2. Explain this philosophy on the basis iof: 1. Main focus 2. Means and ends. Ans. (i) Production concept. (ii) Give difference, Q. 44. Vasvi purchased a bottle of pickle from the local grocery shop. The information provided on the bottle was not clear. She fell sick on consuming it. She filed a case in the District forum under the Consumer Protection Act and got the relief. 1. Identify the important aspect neglected by the marketer in the above case. 2. Explain briefly the functions of the aspect identified in (a) above. OR Ashima purchased a bottle of tomato-sauce from the local grocery shop. The information provided on the bottle was not clear. She fell sick on consuming it. She filed a case in the District Forum under the Consumer Protection Act and got the relief. 1. Identify the important aspect neglected by the marketer in the above case. 2. Explain briefly the functions of the aspect identified in (a) above. Ans. 1. The marketer had overlooked the Labelling as it was not done appropriately for the product. 2. The functions of labeling are detailed below: 1. Describes the product and specifies its contents: 2. Helps in identification of the product or brand: Q. 45. Radha found a worm crawling out of newly opened tetra pack of a juice manufactured by a reputed company, Zest, Ltd. She went back to the shopkeeper from whom the pack was purchased who directed her to call up the customer care centre. When all her efforts failed, she went to consumer activist group to seek help. The group decided to help Radha and take measures to impose restrictions on the sale of the firmâs products of the particular batch and urge customers to refrain from buying the products of the company. Zest Ltd. lost its image n the market. The CEO gives the responsibility of bringing back the lost image of the company to a Manager. 1. Identify the concept of Marketing Management which will help the Manager getting the firm out of the above crisis. 2. Also explain the role of above identified concept by stating any two points. Ans. 1. Public Relations. 2. Role of public relations can be discussed with respect to the functions which the department performs: (any two) 1. Press relations 2. Product publicity 3. Corporate communication 4. Lobbying. 5. Counseling.
Important Notes for NCERT Class 12 Business Studies Chapter Marketing Management
Introduction: Marketing management is an important functional area of business. It is the process of planning, organising, directing and controlling the activities related to marketing of goods and services to satisfy customerâs needs & achieve organisational goals. Functions of Marketing / Marketing activities 1. Marketing research: Gathering and analysing marketing information i.e. what the customers want to buy, when they are likely to buy in what quantities do they buy, from where do they buy etc. 2. Marketing planning: Specific plan for increasing the level of production, promotion of the products etc and specify the action programmes to achieve these objectives. 3. Product designing and development; Marketer must take decision like, what-product? Which model / size? brand name? Packaged? quality level? So that customer needs are satisfied. 4. Buying & assembling: e.g., car. Raw material like steel, tyres, batteries, seats, steering wheels etc are bought & them assembled in the form of a complete product. 5. Packing / Labelling: designing the package & labelling. 6. Branding: Creating a distinct identity of the product from that of competitors e.g. Videocon washing machine. Concepts & Philosophies of Marketing: – 1. Production concept: Profits could be maximised by producing products at a large scale, thereby reducing average cost of production. Drawback: Customer do not always buy inexpensive products. 2. Product concept: Business goals lies in making high quality products as customer favour them. 3. Sales Concept: Firms must undertake aggressive selling & promotion efforts to make customers buy their products. Marketing Mix: Marketing mix refers to ingredients or the tools or the variables which the markets mixes in order to interact with a particular market. Elements / 4 Ps of Marketing mix 1. Product Mix: Product live e.g. Hindustan Lever Limited – Colgate, lifebuoy etc. 2. Price Mix: Value (Money) in lieu of product / Service received by seller from a buyer. 3. Promotion mix: informing the customers about the products & persuading them to buy the same. 4. Place Mix : Physical distribution : Various decision regarding distribution of products.
We hope the above Marketing Management Class 12 Business Studies are useful for you. If you have any questions then post them in the comments section below. Our teachers will provide you an answer. Also refer to MCQ Questions for Class 12 Business Studies
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- Class 12th /
Business Studies Class 12 Case Studies
- Updated on
- Feb 12, 2021
The Central Board of Secondary Examination [CBSE] carries out periodic changes frequently in the structure of syllabus and question pattern across different commerce subjects . With more and more questions being added which aim to evaluate concept-application, analysis and interpretation, the prevalent practice of theoretical learning is being done away with. The inclusion of Business Studies class 12 case studies is a step in this direction. Further, the vast nature of syllabus in the subject makes this way testing much more practical in place of merely listing and rewriting. Here, we present a full-fledged guide on how to tackle these case studies questions in a way that can get you better scores.
This Blog Includes:
Overview & structure, what is a case study, business studies class 12 case studies: examples, how to solve case studies in business studies class 12.
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Business studies broadly encompass âPrinciples and Functions of Managementâ which deal with management, its nature, elements, theories and application as well as âBusiness Finance and Marketingâ which concerns financial markets , marketing management and consumer protection. Before taking a look at the Business Studies Class 12, take a look at the pattern of the paper is as follows:
Note: Case studies are not separate sections or parts. They can be asked as all across the above-mentioned sections.
In particular, case studies are based on real-life scenarios which concern business-related situations. This involves, for instance, cases wherein a person starts a business concern, problems faced in its management, a unique set of circumstances encountered and a host of other different situations. The students are required to correlate concepts in management and solve questions based on their understanding of such concepts. Identification of a particular aspect of Business Management is also a highly used testing criterion.
Here are a few examples of case study questions you can expect to see in the Class 12 Business Studies paper based on official CBSE Question Paper 2020:
Umang Gupta is the Managing Director of Denver Ltd. The company had established a good name for itself and had been doing well. It was known for the timely completion of orders. The Production Manager, Ms Kanta was efficiently handling the processing of the order and had a team of fourteen motivated employees working under her. Everything was going on well. Unfortunately, she met with an accident. Umang knew that in the absence of Ms Kanta, the company may not be able to meet the deadlines. He also knew that not meeting the deadlines may lead to customer dissatisfaction with the risk of loss of business and goodwill. So, he had a meeting with his employees in which accurate the speedy processing of orders was planned. Everybody agreed to work as a team because the behaviour of Umang Gupta was positive towards the employees of the organisation. Hence everyone put in extra time and efforts and the targets were met on time. Not only this, Umang visited Ms Kanta and advised her to take sufficient rest. 1. Identify the leadership style of Umang Gupta and draw a diagram depicting the style. 2. State any two values highlighted by the behaviour of Umang Gupta. (CBSE, Delhi 2017)
Indian Youth Organisation (IYO) organised a visit of its members to an old age home to inculcate the habit of social work among them. The visit revealed that the living conditions of the inmates of the old age home were not hygienic. So, the IYO members decided to clean the premises. During their cleanliness drive, they realised that the old age home also required pest control. But some of the inmates of old age home were reluctant about it because they believed that the pest control might create health problems for them. IYO, therefore, decided to provide ethical, safe and odourless pest control. They showed to the inmates of old age home a pamphlet of the proposed pest control product which promised easy, inexpensive and long-lasting pest control. The inmates happily agreed and the pest control was carried out. It worked for a fortnight but to their dismay, the effect started wearing off. IYO contacted the pest control company which kept on postponing their visit. After waiting for a month, IYO filed a cased in the consumer court. The consumer court was satisfied with the genuineness of the complaint and issued necessary directions to the pest control company. 1. State the six directions that might have been issued by the court. 2. Also, identify any two values that are being communicated by IYO to society. (CBSE, Delhi 2017)
ABC Ltd is a consumer appliance company established in 1992. With its effort of quality maintenance, it has established a competent name in the market for its products. In its efforts of specialisation, it has set up different departments of finance, sales, manufacturing, technical services and maintenance services. As the spaces of operation have risen along with soaring consumer demand, ABD Ltd came to resolution to alter its current principle of management in order to meet varying requirements of the environment. Write the specific general principle of management the company intends to modify to meet the changing requirements.
Gold Land Pvt. Ltd. is a wheat-producing company. Daily 5000 bags of wheat weighing 10 kg each are produced here. In comparison to the previous year, this ere has been less number of bags produced on a per-day basis. The number is around 4500 which is less than the target of 5000 set by the company. The company however has been able to reduce the costs involved in comparison to last yearâs spending on the production and packaging of each bag. The quality of bags has also been up to the mark. Identify the concept of management ignored here.
A floor manager of a mall is a very good manager as he utilizes all the functions of management to minimize the cost of maintenance of his area. He directs all the staff members under him to follow the targets and advises them to put their efforts in the direction of the achievement of these targets. Under his guidance, the employees admit that they learn a lot and are able to meet their targets. This has led to an increase in their salaries. Identify the importance of management highlighted above.
A bank named âDhan Sangraha Kartaâ allows the Kapoor family to deposit their money time and again in it. It gives a definite return to this family which is in the form of interest. To get this interest the money stored in the household of Kapoor family gets entry into this bank. Nearby there is a stock exchange, Mr Rajan Kapoor, who is the head of the family, goes there and buys securities. He says that in this way more return in earned by him on his saved money though the risk is also there. 1. Identify the process in the above case performed by the bank and the stock exchange. 2. What are the roles of the bank and the stock exchange with respect to each other? 3. Name a condition for the bank to perform its role in this process. 4. Name a condition for the stock market to perform its role in this process.
To make the sports day of the school successful the Headmaster of the school divided all the activities into task groups each dealing with a specific area like holding of the event, the arrangement of medals, refreshments etc. Each group was placed under the overall supervision of a senior teacher. The physical education teacher was made responsible for holding different events, the home science teacher for refreshments and the Maths teacher for medals. Identify the function of management performed by the Headmaster in doing so.
Exploring Class 12 notes? Don’t Forget to Check Out Our Exclusive Guide on CBSE Accountancy Class 12 !
RTVB Technologies Ltd. entered the gaming market via its launch of a comprehensive gaming brand name that focused on gaming consoles, games and other accessories. This was done after careful consideration of changing consumer needs and market trends. While its products are expensive, they are of high quality as well as eco-friendly. Their efforts were to differentiate their product from the existing items available in the market and devoted significant efforts, time and money in the creation of the brand name as without this they can only focus on awareness for generic products and can never be sure of sale of products. After some time, their efforts led to a positive growth in demand of products and parallelly as the customers liking also grew, the higher price was no longer a buyer. Over time, the companyâs gaming brand became regarded as a status symbol owing to its impressive quality and consumers by using them felt a sense of pride. I. What is RTVB Ltd.âs marketing management philosophy? II. In the above case, describe the benefits of branding to the marketeers.
Note: You can access more Business Studies Class 12 Case Studies here .
Since they aim to analyze the student’s understanding of business studies and management studies, the case studies in Class 12 can be intricate and complex ones to comprehend. But there are many ways to easily solve them and grasp the concepts covered under Business Studies. We have enlisted some of the best tips and tricks you can utilise to crack the case studies in Business Studies Class 12:
Read NCERT Books for Business Studies thoroughly and go through all the topics covered in each chapter. NCERT books can be your best buddy in exploring the nuances of business and management as they describe the essential topics in a simpler and uncomplicated manner. Once you have read all the chapters given in NCERT as well as the case studies under each chapter then move towards studying with reference books.
While solving case studies for Business Studies Class 12, understand the question carefully and highlight all the key aspects mentioned that seem important. This can vary from the changes brought forward by a business firm to a decision that led to something important or the beliefs and philosophies an enterprise started with. Highlight all the key pointers and then start drafting the answers.
If the question asks an analysis of a certain aspect of a decision or management, it’s better to write down all the key pointers elucidating the pros and cons of the issue you are asked to analyse . Once you have the pointers, you can write down the answer easily.
Don’t write lengthy answers and try to make them concise and insightful . Adhere to the word limit provided and draft a comprehensive answer accordingly.
Some questions might explicitly mention the topic from the syllabus for Business Studies Class 12 such as “analyse the step taken by ______ Manager as per the Functions of Management”. You can use this as a hint to answer the question as per the concepts covered under the Functions of Management in the syllabus. Look out for such hints in the question on case studies as they can help you draft an impressive and high-scoring answer.
While preparing for the class 12 examinations, one can make use of the following resources:
- Case Studies Mentor in Business Studies Class- XII by Alka Dhawan
- Case Studies in Business Studies by Tapan Pathak for CBSE Class 12 by Tapan Pathak
- Business Studies with Case Studies for Class-XI by Sandeep Garg
- Business Studies for Class 12 – Question-Answer Bank by MeriPustak
- CBSE Class 12 Business Studies-Case Studies by Shiv Das
- Oswaal CBSE Question Bank Class 12 Business Studies Book by Oswaal Books
- Business Studies for Class 12 by RK Singla
- All In One Business Studies CBSE class 12 2019-20 (Old Edition) by Arihant Experts
- ABD’s Business Studies – Mastering Case Studies – (Class XII) (2019-2020) by Neeru Sethi
It requires a solid grasp over business and management concepts to tackle Business Studies Class 12 Case Studies. If you are planning to pursue a degree in Business after class 12, take assistance of our team of experts at Leverage Edu and weâll help you find a suitable course and university thus gearing you up for a successful future ahead.
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- Marketing Management Class 12...
Marketing Management Class 12 Business Studies Extra Questions
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Marketing Management Class 12 Business Studies Extra Questions. myCBSEguide has just released Chapter Wise Question Answers for class 12 Business Studies. There chapter wise Practice Questions with complete solutions are available for download in myCBSEguide  website and mobile app. These test papers with solution are prepared by our team of expert teachers who are teaching grade in CBSE schools for years. There are around 4-5 set of solved Business Studies Test Papers from each and every chapter. The students will not miss any concept in these Chapter wise question that are specially designed to tackle Board Exam. We have taken care of every single concept given in CBSE Class 12 Business Studies syllabus  and questions are framed as per the latest marking scheme and blue print issued by CBSE for class 12.
CBSE Class 12 Business Studies Ch â 11
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Practice Questions for Class 12 Chapter 11 Business Studies
Chapter – 11 Marketing ManagementÂ
- All of these
- Asian Paints
_________________ Activities start after the product has been developed. (1)
- None of these
- Market factors
- Environmental factors
- Competitive factors
- Product designing and development
- Bending the customers according to product
- Marketing planning
- Gathering and analysing market information
Distinguish between âSelling Conceptâ and âMarketing Conceptâ of Marketing Management Philosophies on the basis of âmain focusâ. (1)
Why is marketing called a social process? (1)
â100 gm bottle of sauce free with 1 kg detergentâ. State sales promotion technique is involved here? (1)
Arun and Rukun are good friends. After doing a fashion designing course from a reputed institute, they have set up a garment factory in the rural area of Faridabad to manufacture trendy casual wear like jeans, T-shirts, shirts etc. under the brand name ‘Swatantra’. They have employed people from the nearby villages itself in the factory. Moreover, they wish to sell the products through local retailers in the villages and also through ‘Flipkart’. In the context of above case:
- Identify the elements of marketing mix being taken into consideration by Arun.
- Name the two methods of marketing adopted by them.
- Define the term marketing. (1)
State the meaning of âProduct Promotionâ function of packaging. (3)
After doing a diploma in entrepreneurship, Farihad started his own confectionary business. He started doing a lot of hard work and used the recipes taught by his grandmother in various preparations. He also learnt many recipes from online sites and television programmes. He decided to keep the price of the products low initially and also informed his customers about the goodness of the items sold by them. However, he didn’t mention on the package of each item weather it contained eggs or not. As a result, vegetarian people became hesitant in buying things from his shop as they had to verbally inquire from him about the inclusion of eggs in the preparation of various items. In the context of the above case:
- Name the important aspect related to the marketing of products which has been ignored by Farihad.
- Explain briefly any three functions performed by the aspect as identified in part (a).
- Mention the right of consumer being violated by Farihad. (3)
What is meant by advertising? State the role of advertising in marketing. (4)
Define the mean of âMarketingâ? (4)
Explain any three elements of marketing mix. (5)
Nischay, after completing his masters in computer engineering decided to start his own business. He visited his uncle Mr.Jaiprakash who has been running a successful business in web designing. He shared with Nischay that the main reason for his success in the business lies in his approach to building a lifetime relationship with his clients. Therefore, his business is not only restricted to designing web sites according to the specifications of the clients but also providing continuous online assistance to them and handling their grievances effectively and doing all this at a profit. He provides these services at competitive prices. Anybody interested in getting web solutions can contact him through his website. Moreover, whenever the market is sluggish he tries to create demand by offering short-term incentives to the buyers. In the context of the above case:
- Define the term ‘Marketing Management’.
- Briefly explain the various elements of the marketing mix being pursued by Mr. Jaiprakash by quoting lines from the para. (5)
Explain the following functions of marketing:
- Gathering and analysing market information;
- Marketing planning;
- Customer support services; and
- Physical distribution. (6)
- All of these Explanation: When the company’s trade name is used, multi product branding is also known as corporate branding, family branding or umbrella branding. Examples of companies that use corporate branding are Microsoft, Samsung, Apple, and Sony as the company brand name is identical to their trade name.
- Selling Explanation: Selling activities start after the product has been developed.The selling activities undertaken by professional sales people include: Generating Sales Leads, Qualifying Leads, Preparing for the Sales Meeting.
- Product Related Factors
- Company Characteristics
- Competitive Factors
- Market Factors
- Environmental Factor
- Bending the customers according to product Explanation: Marketing function types within a larger business might include performing market research, producing a marketing plan, and product development, as well as strategically overseeing advertising, promotion, distribution for sale, customer service and public relations.
- Main focus of selling concept is to sell the product while marketing concept focus on consumer needs and satisfaction.
- Marketing is called a social process because marketers attempt to match products or services with customer needs and wants for satisfying them at a profit.
- ‘Product combination” is the sales promotion technique.
- The elements of marketing mix being taken into consideration by Arun are product and place.
- The two methods of marketing adopted by them are both direct and indirect marketing.
- According to JF Pyle. âMarketing is that phase of business activity through which the human wants are satisfied by the exchange of goods and services.â
- Packaging simplifies the work of sales promotion. Packing material in the house reminds the consumers constantly about the product. In this way, the packaging performs the role of a passive salesman. Consequently, it increases the sales.
- The important aspect related to the marketing of products which has been ignored by Farihad is Labelling.Labelling is the display of label in a product. A label contains information about a product on its container, packaging, or the product itself. It also has warnings in it. For e.g. in some products, it is written that the products contain traces of nuts and shouldnât be consumed by a person whoâs allergic to nuts. The type and extent of information that must be imparted by a label are governed by the relevant safety and shipping laws. Labeling is also an important part of the brand of the product and the company. It helps the product stand out in the market, and identifies it as a part of a particular brand. This is important in the era of high and intense competition.
- Describes the product and specifies its contents: Labelling provides information about the core function of the product i.e. how and why the product is likely to be beneficial to the prospective buyer. It educates them about the usage and precautions related to the product. It also gives detailed information about the ingredients of the product.
- Helps in identification of the product or brand: The label contains the logo, brand name, tagline, name and address of the manufacturer etc. of the product which helps in easy identification of the product.
- Enables grading of products: Different coloured labels are also used by the marketers for grading of the products on the basis of flavours, quality etc. so that the buyers can easily choose a product as per their requirements.
- The Right to information is being overlooked by the company in the above mentioned case. According to the Right to information, a consumer has the right to get complete information about the product he/she intends to buy including its contents, date of manufacture, date of expiry, price, quantity, directions for use etc. Also, as per law, it is mandatory for the marketers to provide complete information about the product/ service to the buyers.
- Provides economies of scale: Large and steady demand enables a manufacturer to sell more and to produce goods on large scale. Mass production on regular basis helps to reduce the costs of production and distribution. Because of its wide reach, the overall cost of advertising gets spread over numerous communication link established.
- Reduces dependence on middlemen: Advertising helps to establish direct contact between manufacturers and consumers. It is easy to find consumers, as they are made aware of the availability and utility of goods. It is medium through which a large number of people can be reached over a vast geographical area.
- Marketing management is the art and science of choosing target market and getting keeping and growing customers through creation delivering and communicating superior customer values managements. Marketing management refers to planning, organising, directing and control of the activities which facilitate exchange of goods and services between producers and consumers or users of products and services.
- Product mix: The product mix refers to important decisions related to the product or services which are offered in the market to satisfy a want or need. Product mix involves decisions regarding developing and producing the right type of products or services for the consumers. Decisions are taken regarding product, range, quality, size, features, packaging, after sale services, branding, warranties etc. Production must satisfy consumer needs and expectations. These decisions play an important role in attracting customers to the product.
- Price mix: It refers to important decisions related to price levels, pricing strategy and price policies of an organisation. Price is the amount of money paid by a buyer (or received by a seller) in consideration of the purchase of a product or a service. It plays an important role in the marketing of goods. It is often used as a regulator of product’s demand and act as an effective tool during stiff competition. Price affects the revenue and profits of a firm. It is a very crucial element of the marketing mix as customers are highly price-sensitive and the level of price affects the level of demand.
- Place mix: It includes activities that make firm’s products available to the target customers. It includes decisions about channels of distribution, means of transportation, warehousing, inventory control, etc. Place mix is concerned with linking the sellers and buyers. The choice of channels of distribution depends on the nature of the product, competition, willingness of middlemen and producer’s financial resources.
- Promotion mix: It refers to informing the customers about the product and persuading them to purchase these products. This job is done by the company through the medium of advertisement, personal selling, sales promotion and public relations. Decisions with regard to all these factors directly influence the sale of the product.
- Marketing management is “the art and science of choosing target markets and getting, keeping, and growing customers through creating, delivering, and communicating superior customer value”- Philip Kotler . Marketing management is concerned with the chalking out of a definite programme, after careful analysis and forecasting of the market situations and the ultimate execution of these plans to achieve the objectives of the organisation. Further, their sales plan to a greater extent rest upon the requirements and motives of the consumers in the market. To achieve this objective, the organisation has to pay heed to the right pricing, effective advertising and sales promotion, distribution and stimulating the consumers through the best services. To sum up, marketing management may be defined as the process of management of marketing programmes for accomplishing organisational goals and objectives. It involves planning, implementation and control of marketing programmes or campaigns.
- Product: “his business is not only restricted to designing web sites according to the specifications of the clients but also providing continuous online assistance to them and handling their grievances’ effectively.” A product is anything of value i.e. a product or service offered to a market to satisfy needs or wants. A product includes physical product, after sale service, handling grievances etc. Every marketer needs to constantly review and revise his products in order to enhance customer’s satisfaction and have a competitive edge.
- Pric e: “doing all this at a profit. He provides these services at competitive prices.” Price is the monetary value paid in consideration for the purchase of a product or service by a buyer to its seller. It is a very crucial decision for the marketers as consumers are very sensitive to the pricing. The factors affecting price determination are the cost of the product, the utility and demand, the extent of competition in the market, government and legal regulations, pricing objectives and marketing methods used.
- Place: “Anybody interested in getting web solutions can contact him through his website. ” It is considered an important element of the marketing mix because it includes all those activities that help in making the goods and services available to the prospective buyers in the right quantity, at the right time and in the right condition. Two main decisions involved in physical distribution are physical movement of goods from producers to consumers and choice of channels of distribution.
- Promotion: “Moreover, whenever the market is sluggish he tries to create demand by offering short-term incentives to the buyers.” Promotion refers to the set of activities undertaken by a marketer to inform the prospective buyers about the product and persuading them to make a purchase. The various components of the promotion mix are advertising, sales promotion, personal selling and public relation.
- What do the consumers want?
- In what quantity?
- At what price?
- When do they want (it)?
- What kind of advertisement do they like?
- Where do they want (it)?
- What kind of distribution system do they like? All the relevant information about the consumer is collected and analysed. On the basis of this analysis an effort is made to find out as to which product has the best opportunities in the market.
- Marketing Planning: In order to achieve the objectives of an organisation with regard to its marketing, the marketeer chalks out his marketing plan. For example, a company has a 25% market share of a particular product. The company wants to raise it to 40%. In order to achieve this objective the marketer has to prepare a plan in respect of the level of production and promotion efforts. It will also be decided as to who will do what, when and how. To do this is known as marketing planning.
- After-sales-services
- Handling customersâ complaints
- Technical services
- Credit facilities
- Maintenance servicesHelping the customer in this way offers him satisfaction and in todayâs competitive age customerâs satisfaction happens to be the top-most priority. This encourages a customerâs attachment to a particular product and he starts buying that product time and again.
- Physical Distribution: Under this function of marketing the decision about carrying things from the place of production to the place of consumption is taken into account. To accomplish this task, decision about four factors are taken. They are: (i) Transportation, (ii) Inventory, (iii) Warehousing and (iv) Order Processing. Physical distribution, by taking things, at the right place and at the right time creates time and place utility.
Chapter Wise Extra Questions for Class 12 Business Studies
Part -i and part â ii.
- Nature and Significance of Management
- Principles of Management
- Business Environment
- Controlling
- Financial Management
- Financial Markets
- Marketing Management
- Consumer Protection
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BUSINESS STUDIES FOR CLASS 12 CHAPTER 11 MARKETING MCQS ALONG WITH ANSWERS
Free CBSE Business Studies Multiple Choice Questions for Class 12 along with answers Chapter 11: Marketing. Business Studies MCQs for Class 12 chapter-wise with answers are prepared based on the current exam pattern. Students can tackle MCQs with answers to realise their spadework level.
1. Under which of the following conditions does a business need not maintain a high level of inventory?
(a) When a higher level of customer services need to be provided
(b) When a high degree of accurate sales forecast can be made
(c) When the responsiveness of the distribution system is low
(d) All of the above
Answer: (b) When a high degree of accurate sales forecast can be made
2. Under which of the following conditions will the company not be able to provide a high level of customer service?
(a) When it maintains a high level of inventory
(b) When it maintains a low level of inventory
(c) When it owns a large number of warehouses
(d) None of the above
Answer: (b) When it maintains a low level of inventory
3. Under which of the following situations is a company not likely to fix a lower price for its product?
(a) When the competition has introduced a substitute product
(b) If the demand for a product is inelastic
(c) When the company wants to attain market share leadership
(d) When the demand for the product is low
Answer: (b) If the demand for a product is inelastic
4. Under which of the following conditions is a marketer not likely to fix the price of his products at the higher-end?
(a) When he faces a high degree of competition
(b) When he wants to attain market share leadership
(c) When the product is unique in terms of packaging, product difference, and product differentiation
Answer: (c) When the product is unique in terms of packaging, product difference and product differentiation
5. The labelling of a pack of oats cookies explains how the product is beneficial in adding fibre to the diet and the other related health benefits. Identify the related function of labelling being described in the given case.
(a) Describes the product and specifies its content
(b) Identification of the product or brand
(c) Grading of products
(d) Helps in promotion of the products
Answer: (d) Helps in promotion of the products
6. What does the symbol given below denote?
(a) Brand name
(b) Brand mark
(c) Trademark
(d) Generic name
Answer: (c) Trademark
7. Which of the following can be marketed?
(a) Red Cross society persuading to donate blood
(b) Kerala Tourism persuading people to visit Kerala for health tourism
(c) Political parties persuading to vote for a particular candidate
Answer: (d) All of the above
8. Which of the following statements does not reflect a condition to be satisfied for an exchange to take place?
(a) Involvement of at least two parties – the buyer and the seller is mandatory
(b) Each party should be capable of offering something of value to the other
(c) Exchange can take place if the buyers and sellers are not able to communicate with each other
(d) Each party should have the freedom to accept or reject the other partyâs offer
Answer: (c) Exchange can take place if the buyers and sellers are not able to communicate with each other.
9. Which of the following is a feature of the marketing process?
(a) Satisfying needs and wants of the consumers
(b) Creating a market offering
(c) Developing an exchange mechanism
10. Which of the following statements is not true with regard to the concept of a product?
(a) It is a bundle of utility
(b) It is a source of satisfaction
(c) It is confined to physical product
Answer: (c) It is confined to physical products.
11. According to the modem marketing concept, which of the following statements is true?
(a) It refers to the group of people who do not have the ability but willingness to buy a particular product
(b) It refers to only the set of people who have the purchasing power to buy a particular product
(c) It refers to the set of actual and potential buyers for a product
(d) It refers only to the people who show interest in a particular product
Answer: (c) It refers to the set of actual and potential buyers for a product
12. The term âmarketâ may be understood in which of the following contexts?
(a) Geographical area covered
(b) Type of buyers
(c) Quantity of goods transacted
13. Karam Limited is offering a travel package for 15 destinations worldwide with free insurance on the bookings for the month of December 2019. Identify the feature of marketing being described in the above lines.
(a) Needs and wants
(c) Customer value
(d) Exchange mechanism
Answer: (c) Customer value
14. In order to promote the habit of health and hygiene among weaker sections of society, Abhyas Limited has launched low-cost packs of hand wash. Identify the type of marketing philosophy being adopted by the company.
(a) Product concept
(b) Production concept
(c) Marketing concept
(d) Societal marketing concept
Answer: (b) Production concept
15. In order to get feedback about its new product launch, Taggi Limited conducted an online survey through a short questionnaire. Identify the marketing function being mentioned in the given line.
(a) Gathering and analysing market information
(b) Marketing planning
(c) Product designing and development
(d) Packaging and labelling
Answer: (a) Gathering and analysing market information
We trust that the offered Business Studies MCQs for Class 12 with responses Chapter 11: Marketing will help you. Assuming you have any questions with respect to CBSE Class 12 Business Studies, Marketing MCQs, drop a remark underneath, and we will hit you up at the most punctual.
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CBSE Class 12 Business Studies Case Studies - Marketing. Marketing is a social process of identifying needs and wants and satisfying them through created market offering by giving something of value to the customer with the help of an exchange mechanism. Important Features of Marketing. Needs and wants. The needs and wants of the target ...
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Important Questions Class 12. Please refer to Chapter 11 Marketing Management Case Study Questions with answers provided below. We have provided Case Study Questions for Class 12 Business Studies for all chapters as per CBSE, NCERT and KVS examination guidelines. These case based questions are expected to come in your exams this year.
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Introduction of Case Studies - Marketing Management in English is available as part of our Business Studies (BST) Class 12 for Commerce & Case Studies - Marketing Management in Hindi for Business Studies (BST) Class 12 course. Download more important topics related with notes, lectures and mock test series for Commerce Exam by signing up for free.
Marketing Management. Today we are going to discuss the new chapter of business studies CBSE class 12 that is Marketing Management. Also, we are going to give you study notes, video lectures and also PDF of handly lecture notes. Firstly, I want to share with you what are all the topics which we are going to cover in this article.
Access NCERT Solutions for Class 12 Business Studies Chapter 11 - Marketing. Very Short Questions. 1. Explain the advantages of branding to marketers of goods and services. Ans: Branding entails giving a product a distinct name, sign, symbol, or term for identification. The following are the benefits of branding for marketers.
This Case Study from #BusinessStudies #Chapter11 #MarketingManagement was asked in CBSE Examination.A lot of students faces problems in solving case study. ... CBSE Exam, class 12.
The Class 12 Revision Notes Chapter 11 comprise explanations of the different elements of the marketing mix, its classification into different categories, the factors that affect price determination, the types of distribution channels, and the tools of promotion mix like sales promotion, personal selling, publicity, and advertising.
Very Short Answer Questions NCERT Business Studies Solutions Class 12 Chapter 11. Q.1 State any two advantages of branding to marketers of goods and services. The advantages of branding to marketers of goods and services are as follows: 1. It enables a firm to distinguish its product from the competitor firm.
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Day -11- MARKETING MANAGEMENT - CASE STUDIES (Part-01) Lesson 58 of 64 ⢠14 upvotes ⢠14:01mins. Priya Jain. Continue on app (Hindi) 13 Days Pledge to complete Business Studies with Case Studies : Class 12. 64 lessons ⢠14h 21m . 1. Strategy and Time Management (in Hindi) 11:16mins. 2. Day-01- Nature and Significance of Management (in Hindi)
Nature of Management : Management as an Art: Management as a Science: Management as a Profession: 2.Personalized application: Management fulfills this criterion as a good manager works through a combination of practice, creativity, imagination, initiative and innovation. 2. Principles based on experimentation: Like the principles of pure science, the principles of management are also based on ...
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CBSE Class-12 Revision Notes and Key Points. Marketing Management class 12 Notes Business Studies. CBSE quick revision note for class-12 Business Studies, Chemistry, Math's, Biology and other subject are very helpful to revise the whole syllabus during exam days. The revision notes covers all important formulas and concepts given in the chapter.
CBSE Class 12 Business Studies Case Studies - Nature and Significance of Management. Management is the process of getting work done from others effectively as well as efficiently by involving functions of management to achieve organisational goals. Efficiency involves minimising costs and increasing output. Effectiveness means doing the right ...
Identify the elements of marketing mix being taken into consideration by Arun. Name the two methods of marketing adopted by them. Define the term marketing. (1) State the meaning of 'Product Promotion' function of packaging. (3) After doing a diploma in entrepreneurship, Farihad started his own confectionary business.
CBSE Class 12 Business Studies Case Studies - Principles of Management Management principles are the guidelines for decision-making and behaviour (in present as well as future) for the whole organisation. They are general, broad and flexible in nature. Techniques are sequential in nature, rigid and are like procedures. Scientific principles are rigid, have universal validity [âŚ]
Answer: (a) Gathering and analysing market information. We trust that the offered Business Studies MCQs for Class 12 with responses Chapter 11: Marketing will help you. Assuming you have any questions with respect to CBSE Class 12 Business Studies, Marketing MCQs, drop a remark underneath, and we will hit you up at the most punctual. Get the ...