Entrepreneurship 3 Marks Question

Komal has started a herbal toothpaste manufacturing unit. She has decided about the logo, packaging format and labelling of the product. Her friend Neha asked her whether she has taken care of the legally recognised exclusive rights of other manufacturers in the industry before taking the above-stated decisions?
Identify and give the meaning of the concept about which Neha asked Komal.

"Establishment of short or long term objectives and incorporating deadlines in quantifiable measures requires some rules." After identifying the concept described in the above lines explain its rules.

Explain any two rules for goal-setting.

Lalit a small Entrepreneur is manufacturing portable fans with the brand name 'P ­FAN'. These fans are in great demand. He finds that the cost of production of per unit of the fan is 800 and he can sell the same at 1,000 per fan. The competitors in the market are selling this type of fan at the rate of 1,200. Lalit's objective is not to earn profit in the short - run but to capture the largest market share. His expectation is that the customers will be attracted towards the new brand because of lower price. Identify the method of pricing adopted by La|it to capture the substantial portion of the market. Also, state any two advantage of this method of pricing.

State any two rules for 'Goal setting'.

In U.K., they are called 'end lines', 'end lines', or 'straplines'. Germans call them as 'claims', French refer them as 'signatures', while Belgians call them 'baselines'.
Identify the concept and name its forms.

State the advantages of 'cost plus' method of pricing.

State by giving any three points, 'how does branding help an entrepreneur'

Designing an advertisement is an important activity. State the issues that should be addressed while designing it. Also discuss how advertisement empowers the customers.

Name and explain the method of pricing in which price of a product is fixed consciously at a low level with minimal margin of profit.

"One of the essential objectives of managing the market is 'creating demand'." Explain.

What is demand analysis?

What are the factors that affect branding?

Why is it necessary to know. the preferences of the buyers while deciding on a market strategy?

State the reasons why customers prefer enterprises with an after sales service.

With the help of any two examples give the meaning of intellectual property rights.

Shilpi Ltd. started the manufacturing of herbal toothpaste. They researched that large number of established enterprises were also manufacturing the similar type of products. The company fixed the price of their toothpaste on 'cost plus method' of pricing. After some time the company realised that they were not getting good response regarding their toothpaste from the customers and the market share of their toothpaste was less than 0.5%. Since their product was new, they decided to change the pricing method so that initially they could get more customers.

1. Identify the new pricing method that was adopted by Shilpi Ltd.
2. State any two advantages of the new pricing method identified in (a) above.

Explain various types of 'brand names' available to enterpreneur.

Aarav, a small entrepreneur, is manufacturing portable electric iron for domestic use with the brand name 'P-IRON’.This iron is in great demand. He finds that the cost of production per unit of the iron is Rs.1,000 and he can sell the same at Rs.1,200 per unit. The competitors in the market are selling this type of iron at the rate of Rs.2,000. Aarav’s objective is not to earn profit in the short-run but to capture the largest market. His expectation is that the customers will be attracted towards the new brand because of low price.
Identify the method of pricing adopted by Aarav to capture the substantial portion of the market. Also, state any two advantages of this method of pricing.

With its help the consumers are able to identify the products of a firm and are also able to differentiate them from those of the competitors. Identify the concept and state its components.

State any two points of importance of 'Goal Setting'.

'Pure Neer India Ltd.' is the manufacturers of water purifiers. The company has developed a new water purifier that not only converts the hard water into soft water but also kills the bacteria and other harmful micro organisms present in it. The company has named this water purifier as 'Nirmal Neer' and for its marketing, appointed salesmen throughout the country. The company also trained the salesmen to provide information about the usefulness of the 'Nirmal Neer' water purifiers to the customers and motivate them to buy the same.

1. Name and explain the 'type of promotion strategy' adopted by the company.
2. Also, identify the channel of distribution used by the company.

State the advantages of 'Good Negotiations'.

'Nature of Market' affects the channel of distribution. Which channel of distribution will be more suitable for the following markets?

1. Concentrated Market.
2. Remote Market.
3. Monopolistic Market.
4. Regional Market.

Why do customers prefer enterprises with assured sale service? Explain.

'Personal-selling plays a very important role in Sales Promotion.' State any six points of such role of Personal-Selling in Sales Promotion.

Explain any three points to be taken into consideration while 'Assessing the Market'.

'The soft drink bottle of 300 ml of a company is placed at Rs. 7, while the 1000 ml bottle is placed at Rs. 15.' Name and explain the method of pricing involved in the above example.

One of the essential objectives of managing the market is "Securing Goodwill". Explain.

Explain by giving any three points how ‘market-orientation’ helps the entrepreneurs.

State the reasons why consumers prefer enterprises with an after sales service.

Why is it necessary to know the preferences of the buyers while deciding on a market strategy?

Various approaches may be used by a company to promote its products. One of them is the use of mass media methods by designing a promotion strategy that aims at establishing brand identity.Identify and explain this approach.

Why is ‘Customer Relationship Management’ important for any business? Explain briefly.

Government banned the use of polythene bags and single use plastic material in order to curb the increasing pollution level by dumping of plastics. Harjot took this as an opportunity and is planning to manufacture biodegradable bags of different sizes by processing the sugarcane bagasse. Create a logo and a tagline for the bags manufactured by Harjot.

Explain 'distribution mix' as an element of marketing mix.

What is patenting? What are the inventions which are patentable?

Who is a stakeholder?

An effective sales strategy is important for a business. Why?

What are the symptoms of business failure as exhibited by a cash flow statement?

Without having time frame for achievement of goals, you reach no where? Do you agree? If yes, justify.

Distinguish between the direct selling mode and the indirect selling mode.

Below the line methods of promotion are specific, memorable activities focused on targeted groups of consumers. Give the various techniques of this approach.

It is an example of 'value addition'. Value addition means to add values to goods and services by modifying them in such a way that their utility is enhanced and a new product of greater value is created for the customers.

What are Public Relations?

What is a sales strategy?

Give the meaning of tagline with the help of an example.

Explain the different types of sales strategies.

Why is it essential that employees perform together as a collective unit? HOTS

Identify the intermediaries involved in the indirect selling mode.