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FAQs on PPT: Understanding the Market - Entrepreneurship Class 11 - Commerce

1. What are the key factors to consider when understanding market commerce?
Ans. Key factors to consider when understanding market commerce include market demand, competition analysis, target audience identification, pricing strategies, and market trends analysis.
2. How can market research help in understanding market commerce?
Ans. Market research helps in understanding market commerce by providing insights into customer preferences, market trends, competitor analysis, and identifying potential growth opportunities.
3. What role does digital marketing play in market commerce?
Ans. Digital marketing plays a crucial role in market commerce by helping businesses reach a wider audience, engage with customers, promote products/services, and track marketing performance effectively.
4. How can businesses effectively position their products/services in the market?
Ans. Businesses can effectively position their products/services in the market by conducting market research, identifying unique selling points, understanding customer needs, and developing a strong marketing strategy.
5. What are the benefits of understanding market commerce for businesses?
Ans. Understanding market commerce can benefit businesses by helping them make informed decisions, identify new business opportunities, stay ahead of competitors, improve customer satisfaction, and drive business growth.
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