Please see Enterprise Marketing Exam Questions Class 12 Entrepreneurship below. These important questions with solutions have been prepared based on the latest examination guidelines and syllabus issued by CBSE, NCERT, and KVS. We have provided Class 12 Entrepreneurship Questions and answers for all chapters in your NCERT Book for Class 12 Entrepreneurship. These solved problems for Enterprise Marketing in Class 12 Entrepreneurship will help you to score more marks in upcoming examinations.
Exam Questions Enterprise Marketing Class 12 Entrepreneurship
Very Short Answer Type Questions
Question. What is meant by goal setting?
Answer : Mean of goal setting: Establishing the objectives is known as goal setting. The goalscan be
a. Either long or short term
b. includes deadlines to accomplish these objectives.
c. have quantifiable measure
Question. What are the components of marketing mix?
Answer : As per W.J. Stanton marketing mix is defined as marketing mix is the term used to describe the combination of the four inputs which constitutes the core of a company’s marketing system:
a. the product
b. the price structure
c. the promotional activities
d. the distribution system.
Question. What are the components to a successful sales strategy?
Answer : The following are the various elements comprising a sales strategy that can lead to success in the market.
1. Knowledge in various elements like
◆Customer
◆Company
◆Market
◆Sales
2. Science (metrics)
3. Skills (art)
Question. Why is a logo important for a company?
Answer :
1. Logos are critical for the business marketing and represent the business brand.
2. They act as the Identity of the business unit.
3. Provide necessary information to the customer about the brand using a combination of colours, images etc
4. The logo regarded as the shortcut route for advertising and other marketing aspects.
5. Logos will be the visual representations of the business units and project their brand identity.
Question. Explain the term packaging.
Answer : Packaging is a key element that help the business to achieve a competitive advantage and is specifically applicable to the consumer goods companies. The functions of the packaging like providing safety against shock, protecting from moisture, protection from spoil, providing appearance etc will play key role in deciding on the package.
The packaging can be in layers of various packaging components (such as a bubble wrap encompassing the product and thermo-coal on top of it and the carton box on top of it) depending on the functions performed by each of the packaging components.
Question. Define advertising?
Answer : Advertising is communication channel purchased by the businesses to grab the attention of the customers to create a desire in them to purchase the products or services.
It targets the segment of potential customers and persuades them to purchase the products or servers over those offered by the competitors.
Question. Explain the meaning of CRM.
Answer : Customer relationship management often referred with the acronym CRM is defined as the process in which the businesses deal with all the information related to each and every customer to improve their loyalty with them. CRM is an important process in both product or service related aspects while dealing with the customer.
Question. Explain the following term: ATL.
Answer : ATL is the acronym for Above-the-line. ATL is a promotion strategy used by the companies to promote their products using mass media channels like a. Internet,b.Movies, c.TV, D. Print , ATL primarily promotes to a large group of audience.
Question. What is TTL?
Answer : TTL is the acronym for Through-the-line. TTL is a promotion strategy that is a combination of the strategies used in both ATL (Above-the-line) and BTL(Below-theline).
In this, one type of advertising points the targeted audience towards the another type of advertising.
For example a you-tube ad (ATL) can redirect the users to click on a link to get the coupon code which the can use in stores to get a discount (BTL). Here ATL has redirected the targeted audience towards BTL.
Short Answer Type Questions
Question. What does the marketing strategy of a company include?
Answer : The marketing strategy of an enterprise comprise of the following.
1. All the basic and long-term activities in the field of marketing. These activities are related to the strategic initial position of the enterprise.
2. i. Formulation
ii. Evaluation
iii. Selection of the market-oriented strategies. There by it helps the company to move towards its goals and marketing objectives.
3. Numerous growth strategies and the marketing mix.
Question. Explain the different types of sales strategies.
Answer : There are two types of sales strategies.
1. Direct sales strategy: Direct sales strategy also known as “negative selling” is a strategy where in the business compare the features of their products or services with those of the competitors there by attaching their competitors when directly talking to the customer.
2. Indirect sales strategy: This is the more sophisticated, positive sales approach adopting the modern sales strategies discovered through research and analysis. In this type of sales strategy the companies highlight the features and benefits available only in their products or services and not available in competitor’s products or services. In these sales strategies the companies won’t point to the competitors by name.
Question. What is the purpose of logo?
Answer :
1. Logo represents a company graphically and form the anchor to represent the company’s brand. It is vital part of marketing.
2. Logos standout as a unique representation of the corporate. Thus they bear the identity of the organization..
3. Logo is formed as a combination of one or more of the following elements- a .Colour, b. Font, c. Image, d. Impression, e. Pattern. Thereby the logos provide the required information about the enterprise there by informing the customers to get an idea of the enterprise’s primary brand.
4. Logos serve as a means to achieve a shortcut for the marketing and promotional activities.
5. Logo is the primary visual representation of the company’s brand identity.
Question. What is employee management?
Answer : Employee relationship management or employee management refers to the process of effectively managing the human resources or employees there by helping in realizing the goals of the organizations.
This process is majorly implemented by the human resources department.
The HR team takes the responsibility of training and coaching the managers and other executives about how to develop and maintain effective relationship with employees.
They also keep track of these relationships to determine how effectively the objectives are being met.
Question. Differentiate between ATL and BTL.
Answer :
Basis
Above-the-line
(ATL)
Below-the-line
(BTL)
1. Target
Mass audience
Specific small group of individuals
2. Promotions
To establish brand identity.
Generate sales
3. Measurability
Hard to measure
Easy to measure.
Long Answer Type Questions
Question. What are the various types of brand names from the entrepreneur’s perspective?
Answer : Depending on the varieties of products offered by the business, entrepreneurs follow different policies in arriving at a brand name. The names chosen should be able to grab attention from the public. For this reason the entrepreneur should be chose their brand strategy very carefully as this summarizes the purpose and goal of the organization.
Usually from the perspective of entrepreneurs the brand names can be considered in the following ways.
a. Individual brand name: Each product in the portfolio is given a different brand name.
b. Family brand name: A range of products in the portfolio are offered with the same name. The name used can be either the entrepreneur’s name or the business name.
This type of branding is also referred to as umbrella branding. Ponds offering its various products under one umbrella name refers to this type of strategy.
c. Corporate names: In this type of branding the company’s name or logo along with some brand names of individual products. For instance Philips company offers its one of shavers are Philips aqua-touch and Samsung offering its phones as Samsung Galaxy
d. Alpha-numeric names: The alpha-numeric names are used to highlight the physical characteristics of a product. This strategy ensures that each product will have its own unique identity. For instance Philips aqua-touch AT620/14 and Philips Aquatouch AT890/16 are distinguished by the alpha – numerics AT620/14 and AT890/16.
Question. How is vendor management done?
Answer : Vendor management refers to the process that helps the organizations to
a. find the vendors
b. Evaluate them and ensure that they are qualified
c. conducting business with the vendors.
The process usually starts once the need arises to outsource a given task to a vendor. Organizations perform the following activities to accomplish vendor management.
1. Researching vendors who can perform the required tasks
2. Negotiating and enter into contract.
3. Price quotation
4. Performance evaluation
5. Preparation and maintenance of the vendor related documents
6. Processing of the payments.
The organizations research and come up with a list of vendors who can perform the task and deliver it with quality. All the chosen vendors are then evaluated based on the following factors.
a. Capability
b. Pricing
c. Quality
d. Past performance data or goodwill
Initially quotations are obtained from each of the vendors, their references are checked, and then the company is researched thoroughly through online resources. Once this is done their financial stability, certifications are insurance details are evaluated.
Once a list of vendors are choosen, the responsibility of the vendor managers lies in a. Managing a list of vendors
b. Allocating tasks or contracts when necessary
c. Keep a check on their performance
d. Ensure that the agreed upon contract rules are followed.
Big organizations will usually have a pool of vendors. Depending on the past performance a specific vendor might be best suited for a specific task while secondary preference is given to other vendors. When the preferred vendor is not able to take up a project or task or unable to deliver then the other vendors will be allocated with the assignment.
Vendor management usually requires huge documentation work. The databases need to be integrated with various accounts payable systems. In this process it usually requires obtaining vendor information like contact information, insurance/tax related documents etc. When the vendors have access to confidential information it is essential to get the non-disclosure or similar agreement signed in from them and documented. All such documents thus procured should be updated each year.
