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Test for Case Study Based Questions for Business Studies Class 11Introduction
In the field of business studies, case study based questions are an effective way to assess a student's understanding of various concepts and their ability to apply them in real-life scenarios. These questions typically present a specific business situation or problem and require the student to analyze and provide suitable solutions or recommendations. Here is a test comprising case study based questions for Class 11 Business Studies (BST) students, based on the CBSE syllabus (NCERT).
Question 1
Case Study: ABC Ltd. is a manufacturing company that produces electronic goods. Due to the rapid advancement in technology, the company's products have become outdated and are facing tough competition in the market. As a business consultant, suggest three innovative strategies that ABC Ltd. can adopt to revive its business and regain its market share.
Answer:
To tackle the challenges faced by ABC Ltd., here are three innovative strategies that the company can adopt:
1.
Diversification: ABC Ltd. can explore new product lines or enter into new markets to reduce its dependency on outdated electronic goods. By diversifying its offerings, the company can tap into emerging markets or introduce innovative products that cater to changing consumer preferences. This strategy will not only help in reviving its business but also provide a competitive edge.
2.
Technological Upgradation: In order to compete with technologically advanced competitors, ABC Ltd. should invest in research and development to upgrade its existing products or develop new ones. By incorporating cutting-edge technology and features into its electronic goods, the company can attract tech-savvy customers and regain market share. Additionally, embracing automation and digitalization in its manufacturing processes can improve efficiency and reduce costs.
3.
Strategic Partnerships: ABC Ltd. can consider forming strategic partnerships with other companies in the industry. Collaborating with established brands or industry leaders can provide access to their distribution networks, market expertise, and resources. This can help ABC Ltd. in expanding its reach, enhancing brand visibility, and acquiring new customers. Strategic partnerships can also facilitate knowledge sharing and innovation, enabling the company to stay ahead of the competition.
Question 2
Case Study: XYZ Enterprises is a retail chain that has been experiencing a decline in sales due to changing consumer preferences and the rise of e-commerce. As a marketing consultant, suggest three promotional strategies that XYZ Enterprises can adopt to attract customers and increase sales.
Answer:
To address the declining sales of XYZ Enterprises, here are three promotional strategies that the company can adopt:
1.
Social Media Marketing: XYZ Enterprises should leverage the power of social media platforms to reach a wider audience and engage with potential customers. By creating compelling content, running targeted advertisements, and actively interacting with customers on platforms like Facebook, Instagram, and Twitter, the company can build brand awareness and generate interest. Additionally, offering exclusive discounts or promotions to social media followers can incentivize them to visit the physical stores or make purchases online.
2.
Loyalty Programs: Implementing a customer loyalty program can encourage repeat purchases and build customer loyalty. XYZ Enterprises can introduce a points-based system where customers earn rewards for every purchase or certain actions like referring friends or leaving