Very Short Type Questions - Enterprise Marketing, Entrepreneurship, Class 12 | Additional Study Material for Commerce PDF Download

Q1. Mention any two components of market research. (1 mark)
Ans. Nature of competition, impact of advertisement on various income groups, etc. are to be included in market research.

Q2. Mention two features to be found in a product design. (1 mark)
Ans. Product design must provide safety from environment, maintain minimum depreciation value, makes the product attractive, etc.

Q3. Why is Packaging of the product important ? (1 mark)
Ans. Packaging prevents the product from weather, climate, insects, damage due to rough handling, etc.

Q4. What is Pricing ? (2 marks)
Ans. Pricing is a process of assigning money value to a product or service based on its usage or any other feature.

Q5. What are the contents of Product Mix ? (2 marks)
Ans. Branding, Labelling and Packaging.

Q6. What is branding ? How does it aid Marketing ? (CBSE 2010 Comptt., 2009) (2 marks)
Ans. Branding is the process of providing a sign name and symbol to a product for providing it a specific identification in the presence of various substitutes. Branding is useful in the following ways :
(i) Identification,
(ii) Differentiation.

Q7. What is meant by goal setting ? (TBQ) (1 mark)
Ans. Establishing short and long term objectives, usually incorporating deadlines and quantifiable measures can be termed as goal setting.

Q8. What is Marketing Strategy ? (TBQ) (2 marks)
Ans. A process that can allow an organization to concentrate its resources on the optional opportunities with the goals of increasing sales and achieving a sustainable competitive advantage.

Q9. Why is logo important for a company ? (TBQ) (2 marks)
Ans. Logo is important for a company as it provides an identifying symbol for a product or business.

Q10. Give the meaning of tagline with the help of an example. (TBQ) (2 marks)
Ans. Tagline is a small amount of text which serves to clarify a thought and is designed with a dramatic effect. For example : Amul’s message —”A gift for someone you love.”

Q11. Define the term packaging. (TBQ) (1 mark)
Ans. Packaging is the process of designing and producing a container for a product. It prevents degradation of the product.

Q12. What is labelling ? (1 mark)
Ans. It is the display of information about a product on its container, packaging or the product itself.

Q13. Explain any two components of Brand with example. (SQP) (2 marks)
Ans.
(a) Brand Name : That part of a brand which can be vocalized, e.g., Mercedes, Mc Donald.
(b) Brand Mark : That part of a brand which can be recognized but not vocalized, e.g., girl of Amul.
(c) Trade Mark : That part of brand that is given legal protection against its use by other firms. e.g. TM used by brands. (Any two)

Q14. What is meant by ‘Product-Mix’ ? (CBSE 2011 A.I.) (1 mark)
Ans. Product Mix refers to important decisions related to the product such as quality of the product, its design, etc.

Q15. What are the different elements or components of the Market Mix ?
Or
Name four elements that play a vital role in the realization of the Marketing Mix. (1 mark)
Ans. Market Mix includes product, price, promotion and place.

Q16. What areas are covered by Product Mix ? (1 mark)
Ans. Product Mix covers various aspects like quality, quantity, design, features, warrantees, guarantees, brand, repairing services, etc.

Q17. What do you understand by the term Market Mix ? (2 marks)
Ans. Market Mix is an aggregate of activities like product, distribution, etc., which are undertaken for attaining the predetermined goals in the Marketing.

Q18. Explain the term “Brand”. (2 marks)
Ans. “Brand” is a comprehensive term. It is used to denote a name, term, sign, symbol, design or combination of them to :
(i) Identify the products of one firm and,
(ii) Differentiate them from those of the competitors.

Q19. What are Intellectual property (IP) rights ? (2 marks)
Ans. Intellectual property rights are legally recognized exclusive rights to creations of the mind under this law. Owners are granted certain exclusive rights to a variety of intangible assets. Common type of intellectual property rights include copyrights, Trade Mark, patents, industrial design rights and trade secrets.

Q20. What should be kept in mind while setting up the goals of an organization ? (2 marks)
Ans. Every organization must set up goals keeping in mind the following :
(i) Resources of the organization.
(ii) Achievable.
(iii) Time limit.
(iv) Goals must be specific and not vague.

Q21. What is the new concept of goal setting. (2 marks)
Ans. Recent trend in goal setting has given a new concept :
SMART goals :
S–Specific.
M–Measurable.
A–Attainable/Achievable.
R–Relevant/Realistic.
T–Time bound.

Q22. What do you mean by measurable goals ? (2 marks)
Ans. Measurable goals means goals must be set up in quantitative terms so that they can be achieved effectively.
Goals must be able to answer how many ? and how much ?

Q23. What do you mean by marketing ? (2 marks)
Ans. Marketing is a social process by which individuals and groups obtain what they need and want through creating, offering and freely exchanging products and services of value with others.

Q24. Define marketing mix. (2 marks)
Ans. Marketing mix refers to the ingredients or the tools or the variables which the marketing mixes in order to interact with a particular market.