Class 12 Entrepreneurship Chapter 3 Notes (2024-25) PDF

NOTES CLASS –12 SUBJECT - ENTREPRENEURSHIP CHAPTER - 3 ENTERPRISE MARKETING 1. Introductio...

NOTES CLASS –12 SUBJECT - ENTREPRENEURSHIP CHAPTER - 3 ENTERPRISE MARKETING 1. Introduction to Enterprise Marketing Enterprise Marketing: The process of promoting and selling products or services, including market research, advertising, sales, and distribution. Importance: Crucial for the success of any business; helps in reaching target customers, building brand awareness, and driving sales. 2. Market Research Definition: The process of gathering, analyzing, and interpreting information about a market, including information about the target audience, competitors, and industry trends. Methods: o Primary Research: Collecting new data through surveys, interviews, focus groups, and observations. o Secondary Research: Analyzing existing data from reports, studies, and other sources. Steps: o Define Objectives: Determine what you need to learn from the research. o Design Research: Choose the method and tools for data collection. o Collect Data: Gather information according to the research design. o Analyze Data: Interpret the data to make informed decisions. o Report Findings: Present the results and insights gained from the research. 3. Marketing Strategies Product Strategy: o Product Design: Creating a product that meets customer needs and preferences. o Product Life Cycle: Stages from introduction to decline. Pricing Strategy:  o Cost-Based Pricing: Setting prices based on the cost of production plus a markup. o Value-Based Pricing: Setting prices based on the perceived value to the customer. o Competitive Pricing: Setting prices based on competitors’ prices. Place/Distribution Strategy: o Channels of Distribution: Path through which products reach the consumer (e.g., direct selling, retailers, wholesalers). o Logistics: Managing the flow of goods from production to the consumer. Promotion Strategy: o Advertising: Paid promotion through various media (TV, print, online). o Sales Promotion: Short-term incentives to encourage purchase (discounts, coupons). o Public Relations: Building a positive image through media and community relations. o Personal Selling: Direct interaction between sales representatives and potential customers. 4. Developing a Marketing Plan Components: o Executive Summary: Overview of the marketing plan and key strategies. o Market Analysis: Insights into the market and target audience. o Marketing Objectives: Specific, measurable goals (e.g., increase sales by 20%). o Marketing Strategies: Detailed approach for achieving objectives. o Action Plan: Specific actions and timelines for implementing strategies. o Budget: Allocation of financial resources for marketing activities. o Evaluation: Metrics and methods for assessing the effectiveness of the marketing plan. 5. Digital Marketing Definition: Marketing through digital channels such as social media, email, search engines, and websites. Techniques: o Social Media Marketing: Promoting products through platforms like Facebook, Instagram, and Twitter. o Search Engine Optimization (SEO): Improving website visibility in search engine results. o Email Marketing: Sending promotional emails to potential and existing customers. o Content Marketing: Creating valuable content to attract and engage customers. 6. Sales Techniques Sales Funnel: o Awareness: Potential customers become aware of the product.  o Interest: Customers show interest and seek more information. o Consideration: Customers evaluate the product. o Decision: Customers make a purchase decision. o Retention: Post-purchase follow-up to maintain customer relationships. Sales Pitch: A persuasive presentation to convince potential customers to buy the product. Negotiation: Discussing terms and conditions to reach a mutually acceptable agreement. 7. Building Customer Relationships Customer Service: Providing support before, during, and after the purchase. Loyalty Programs: Incentives to encourage repeat purchases (e.g., points, rewards). Feedback Mechanisms: Collecting and acting on customer feedback to improve products and services. 8. Case Studies and Examples Example 1: A local startup’s marketing strategy to enter a competitive market. Example 2: A successful digital marketing campaign for an e-commerce business. 9. Conclusion Effective marketing is essential for the growth and success of an enterprise. By understanding market research, developing robust marketing strategies, and utilizing modern sales techniques, businesses can effectively reach and engage their target audience. Important Terms to Remember Market Research, Product Strategy, Pricing Strategy, Distribution Strategy, Promotion Strategy, Marketing Plan, Digital Marketing, Sales Funnel, Customer Relationships. Review Questions 1. What are the key components of a marketing plan? 2. How can market research help in developing a marketing strategy? 3. Describe different pricing strategies and their implications. 4. Explain the concept of digital marketing and list its techniques. 5. What is the role of customer service in building customer relationships? Dear Teachers and Students, Join School of Educators' exclusive WhatsApp, Telegram, and Signal groups for FREE access to a vast range of educational resources designed to help you achieve 100/100 in exams! Separate groups for teachers and students are available, packed with valuable content to boost your performance. Additionally, benefit from expert tips, practical advice, and study hacks designed to enhance performance in both CBSE exams and competitive entrance tests. Don’t miss out—join today and take the first step toward academic excellence! Join the Teachers and Students Group by Clicking the Link Below JOIN OUR WHATSAPP GROUPS FOR FREE EDUCATIONAL RESOURCES JOIN SCHOOL OF EDUCATORS WHATSAPP GROUPS FOR FREE EDUCATIONAL RESOURCES We are thrilled to introduce the School of Educators WhatsApp Group, a platform designed exclusively for educators to enhance your teaching & Learning experience and learning outcomes. Here are some of the key benefits you can expect from joining our group: BENEFITS OF SOE WHATSAPP GROUPS Abundance of Content: Members gain access to an extensive repository of educational materials tailored to their class level. This includes various formats such as PDFs, Word files, PowerPoint presentations, lesson plans, worksheets, practical tips, viva questions, reference books, smart content, curriculum details, syllabus, marking schemes, exam patterns, and blueprints. This rich assortment of resources enhances teaching and learning experiences. Immediate Doubt Resolution: The group facilitates quick clarification of doubts. Members can seek assistance by sending messages, and experts promptly respond to queries. This real-time interaction fosters a supportive learning environment where educators and students can exchange knowledge and address concerns effectively. Access to Previous Years' Question Papers and Topper Answers: The group provides access to previous years' question papers (PYQ) and exemplary answer scripts of toppers. This resource is invaluable for exam preparation, allowing individuals to familiarize themselves with the exam format, gain insights into scoring techniques, and enhance their performance in assessments.  Free and Unlimited Resources: Members enjoy the benefit of accessing an array of educational resources without any cost restrictions. Whether its study materials, teaching aids, or assessment tools, the group offers an abundance of resources tailored to individual needs. This accessibility ensures that educators and students have ample support in their academic endeavors without financial constraints. Instant Access to Educational Content: SOE WhatsApp groups are a platform where teachers can access a wide range of educational content instantly. This includes study materials, notes, sample papers, reference materials, and relevant links shared by group members and moderators. Timely Updates and Reminders: SOE WhatsApp groups serve as a source of timely updates and reminders about important dates, exam schedules, syllabus changes, and academic events. Teachers can stay informed and well-prepared for upcoming assessments and activities. Interactive Learning Environment: Teachers can engage in discussions, ask questions, and seek clarifications within the group, creating an interactive learning environment. This fosters collaboration, peer learning, and knowledge sharing among group members, enhancing understanding and retention of concepts. Access to Expert Guidance: SOE WhatsApp groups are moderated by subject matter experts, teachers, or experienced educators can benefit from their guidance, expertise, and insights on various academic topics, exam strategies, and study techniques. Join the School of Educators WhatsApp Group today and unlock a world of resources, support, and collaboration to take your teaching to new heights. To join, simply click on the group links provided below or send a message to +91-95208-77777 expressing your interest. Together, let's empower ourselves & Our Students and inspire the next generation of learners. Best Regards, Team School of Educators  Join School of Educators WhatsApp Groups You will get Pre- Board Papers PDF, Word file, PPT, Lesson Plan, Worksheet, practical tips and Viva questions, reference books, smart content, curriculum, syllabus, marking scheme, toppers answer scripts, revised exam pattern, revised syllabus, Blue Print etc. here. Join Your Subject / Class WhatsApp Group. Kindergarten to Class XII (For Teachers Only) Class 1 Class 2 Class 3 Class 4 Class 5 Class 6 Class 7 Class 8 Class 9 Class 10 Class 11 (Science) Class 11 (Humanities) Class 11 (Commerce) Class 12 (Science) Class 12 (Humanities) Class 12 (Commerce) Kindergarten Subject Wise Secondary and Senior Secondary Groups (IX & X For Teachers Only) Secondary Groups (IX & X) SST Mathematics Science English Hindi-A IT Code-402 Hindi-B Artificial Intelligence Senior Secondary Groups (XI & XII For Teachers Only) Physics Chemistry English Mathematics Biology Accountancy Economics BST History  Geography Sociology Hindi Elective Hindi Core Home Science Sanskrit Psychology Political Science Painting Vocal Music Comp. Science IP Physical Education APP. Mathematics Legal Studies Entrepreneurship French IT Artificial Intelligence Other Important Groups (For Teachers & Principal’s) Principal’s Group Teachers Jobs IIT/NEET  Join School of Educators WhatsApp Groups You will get Pre- Board Papers PDF, Word file, PPT, Lesson Plan, Worksheet, practical tips and Viva questions, reference books, smart content, curriculum, syllabus, marking scheme, toppers answer scripts, revised exam pattern, revised syllabus, Blue Print etc. here. Join Your Subject / Class WhatsApp Group. Kindergarten to Class XII (For Students Only) Class 1 Class 2 Class 3 Class 4 Class 5 Class 6 Class 7 Class 8 Class 9 Class 10 Class 11 (Science) Class 11 (Humanities) Class 11 (Commerce) Class 12 (Science) Class 12 (Humanities) Class 12 (Commerce) Artificial Intelligence (VI TO VIII) Subject Wise Secondary and Senior Secondary Groups (IX & X For Students Only) Secondary Groups (IX & X) SST Mathematics Science English Hindi IT Code Artificial Intelligence Senior Secondary Groups (XI & XII For Students Only) Physics Chemistry English Mathematics Biology Accountancy Economics BST History  Geography Sociology Hindi Elective Hindi Core Home Science Sanskrit Psychology Political Science Painting Music Comp. Science IP Physical Education APP. Mathematics Legal Studies Entrepreneurship French IT AI IIT/NEET CUET Groups Rules & Regulations: To maximize the benefits of these WhatsApp groups, follow these guidelines: 1. Share your valuable resources with the group. 2. Help your fellow educators by answering their queries. 3. Watch and engage with shared videos in the group. 4. Distribute WhatsApp group resources among your students. 5. Encourage your colleagues to join these groups. Additional notes: 1. Avoid posting messages between 9 PM and 7 AM. 2. After sharing resources with students, consider deleting outdated data if necessary. 3. It's a NO Nuisance groups, single nuisance and you will be removed. No introductions. No greetings or wish messages. No personal chats or messages. No spam. Or voice calls Share and seek learning resources only. Please only share and request learning resources. For assistance, contact the helpline via WhatsApp: +91-95208-77777.  Join Premium WhatsApp Groups Ultimate Educational Resources!! Join our premium groups and just Rs. 1000 and gain access to all our exclusive materials for the entire academic year. Whether you're a student in Class IX, X, XI, or XII, or a teacher for these grades, Artham Resources provides the ultimate tools to enhance learning. Pay now to delve into a world of premium educational content! Click here for more details Class 9 Class 10 Class 11 Class 12 📣 Don't Miss Out! Elevate your academic journey with top-notch study materials and secure your path to top scores! Revolutionize your study routine and reach your academic goals with our comprehensive resources. Join now and set yourself up for success! 📚🌟 Best Wishes, Team School of Educators & Artham Resources  SKILL MODULES BEING OFFERED IN MIDDLE SCHOOL Artificial Intelligence Beauty & Wellness Design Thinking & Financial Literacy Innovation Handicrafts Information Technology Marketing/Commercial Mass Media - Being Media Application Literate Data Science (Class VIII Augmented Reality / Travel & Tourism Coding only) Virtual Reality Digital Citizenship Life Cycle of Medicine & Things you should know What to do when Doctor Vaccine about keeping Medicines is not around at home Humanity & Covid-19 Blue Pottery Pottery Block Printing  Food Food Preservation Baking Herbal Heritage Khadi Mask Making Mass Media Making of a Graphic Novel Kashmiri Embroidery Satellites Rockets Embroidery Application of Photography Satellites SKILL SUBJECTS AT SECONDARY LEVEL (CLASSES IX – X) Retail Information Technology Automotive Security Introduction To Financial Introduction To Tourism Beauty & Wellness Agriculture Markets Food Production Front Office Operations Banking & Insurance Marketing & Sales Health Care Apparel Multi Media Multi Skill Foundation Course Artificial Intelligence Physical Activity Trainer Electronics & Hardware Data Science (NEW) Foundation Skills For Sciences Design Thinking & Innovation (NEW) (Pharmaceutical & Biotechnology)(NEW)  SKILL SUBJECTS AT SR. SEC. LEVEL (CLASSES XI – XII) Retail InformationTechnology Web Application Automotive Financial Markets Management Tourism Beauty & Wellness Agriculture Food Production Front Office Operations Banking Marketing Health Care Insurance Horticulture Typography & Comp. Application Geospatial Technology Electrical Technology Electronic Technology Multi-Media  Taxation Cost Accounting Office Procedures & Shorthand (English) Practices Shorthand (Hindi) Air-Conditioning & Medical Diagnostics Textile Design Refrigeration Salesmanship Business Food Nutrition & Design Administration Dietetics Mass Media Studies Library & Information Fashion Studies Applied Mathematics Science Yoga Early Childhood Care & Artificial Intelligence Data Science Education Physical Activity Land Transportation Electronics & Design Thinking & Trainer(new) Associate (NEW) Hardware (NEW) Innovation (NEW)  Join School of Educators Signal Groups You will get Pre- Board Papers PDF, Word file, PPT, Lesson Plan, Worksheet, practical tips and Viva questions, reference books, smart content, curriculum, syllabus, marking scheme, toppers answer scripts, revised exam pattern, revised syllabus, Blue Print etc. here. Join Your Subject / Class signal Group. Kindergarten to Class XII Class 2 Class 3 Class 1 Class 5 Class 6 Class 4 Class 7 Class 8 Class 9 Class 10 Class 11 (Science) Class 11 (Humanities) Class 11 (Commerce) Class 12 (Science) Class 12 (Humanities) Class 12 (Commerce) Kindergarten Artifical intelligence  Subject Wise Secondary and Senior Secondary Groups IX & X Secondary Groups (IX & X) SST Mathematics Science Hindi-B English Hindi-A IT Artifical intelligence IT Code-402 Senior Secondary Groups XI & XII Physics Chemistry English Biology Accountancy Mathematics BST History Economics  Geography Sociology Hindi Elective Hindi Core Home Science Sanskrit Psychology Political Science Painting IP Vocal Music Comp. Science Physical Education APP. Mathematics Legal Studies IIT/NEET Entrepreneurship French Artifical intelligence CUET  Join School of Educators CBSE Telegram Groups Kindergarten All classes Class 1 Class 2 Class 3 Class 4 Class 5 Class 6 Class 7 Class 8 Class 9 Class 10 Class 11 (Sci) Class 11 (Com) Class 11 (Hum) Class 12 (Sci) Class 12 (Com) Class 12 (Hum) JEE/NEET CUET NDA, OLYMPIAD, NTSE Principal Professional Group Teachers Professional Group Project File Group Join School of Educators ICSE Telegram Groups Kindergarten Class 1 Class 2 Class 3 Class 4 Class 5 Class 6 Class 7 Class 8 Class 9 Class 10 Class 11 (Sci) Class 11 (Com) Class 11 (Hum) Class 12 (Sci) Class 12 (Com) Class 12 (Hum)