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Identify the various factors which will help the entrepreneur as well as the potential investor from the organisational plan.
- Long-term effectiveness of the enterprise
- Profitability
- Specifying the types of skills needed and the roles that must be filled by the members
- The attitudes, behaviours, dress, communication styles etc., thus chalking out informal organisation
Concept: Business Plan >> Organizational Plan
What are the three most likely situations which arise before any firm while preparing the production plan?
Concept: Business Plan >> Production Plan
Enlist any three points of importance in framing the business plan.
Concept: Business Plan
The production plan aims at "plan your work", whereas operations plan ensures "work your plan". In the light of the given statement, examine the relevance of a operational plan for an entrepreneur.
Concept: Business Plan >> Operational Plan
| Karthik is in the business of manufacturing laptop components since 2010. They have been supplying their parts to all major manufacturers. His son Harsh took over the factory in 2022. He had done his Masters in Business Administration and wanted to expand the operations of the company. He planned to start manufacturing laptops to be sold in the Indian market. He discussed the idea with his financial team. They estimated the cost of the project to be around Rs. 65 crores. They decided to take the required funds from potential investors. The financial team of the company decided to make a plan which will explain to the potential investor the ways and means of how the entrepreneur plans to meet all financial obligations. |
Explain any five components of this plan.
Concept: Business Plan >> Components of Financial Plan
What is labelling?
Concept: 4p’s of Marketing >> Product
Define Advertising?
Concept: 4p’s of Marketing >> Product
What is sales strategy?
Concept: Various Marketing Strategies Used in a Firm
What are the different roles played by a salesperson?
Concept: 4p’s of Marketing >> Promotion
‘Polymer Ltd’ decided to diversify into manufacturing pipes and plastic household products apart from their water tanks business. Their finance and marketing department decided to adopt any of the two pricing strategies -
- adding a certain percentage of profit to the cost of production
- selling at a lesser amount so as to capture a huge market. They put forward their funding strategy to the CEO.
The suggested pricing strategies are:
- Cost-plus pricing
- Skimming pricing
- Penetration pricing
- Competitive pricing
Concept: 4p’s of Marketing >> Price
Mayank, a small entrepreneur, is manufacturing LED lamps with the brand name 'Led-amps`". These lamps are in great demand. He finds that the cost of production per unit of the lamp is ₹ 800 and he can sell the same at ₹ 1000 per lamp. The competitors in the market are selling this type of lamp at the rate of 1200. Mayank's objective is not to earn profit in the short-run but to capture the largest market share. His expectation is that the customers will be attracted towards the new brand because of the lower price.
Identify the method of pricing adopted by Mayank to capture the substantial portion of the market.
Concept: 4p’s of Marketing >> Price
The entrepreneurs have an option to brand their product alpha-numerically, as it signifies ______.
Concept: 4p’s of Marketing >> Product
“Successful launch of a product depends upon various factors. Entrepreneurs have to keep in mind the various ways of reaching the customers and persuade them to buy their products.”
Comment on any two such methods used by an entrepreneur in attracting the customer to buy their product.
Concept: Promotion Strategy
Arpit, an entrepreneur, was short of capital. He was worried about the fact as to how he will reach out to his customers. He met his friend who is at present working in a start-up firm. He explained to Arpit a way to reach customers without any middlemen which will help him overcome the shortage of cash. So, Arpit decided to keep his channel of distribution simple as advised by his friend.
- Identify the channel of distribution adopted by Arpit.
- Explain the channel of distribution mentioned above.
- Give any two of advantages of this type of channel.
Concept: 4p’s of Marketing >> Place
The level of sales to the level of revenue generated is a useful parameter for mapping an organization's present and future course of action. Justify.
Concept: Goal-setting and Smart Goals
Explain five common types of Intellectual Property Rights.
Concept: 4p’s of Marketing >> Product
| 'Shiny Teeth' have been in the field of manufacturing toothpastes since 2010. They decided to foray into the field of other specialised products in oral hygiene. Initially they decided to promote their specialised products to a large audience in the same manner as how they have been promoting their toothpastes. Within a few months they realised that their promotion technique is not working. The marketing team analysed and came to the conclusion that the specialised products should be promoted to a specific target audience. This idea worked very well and the promotion was a success. Identify all the promotion strategies used by them? |
- Above the line
- Below the line
- Through the line
Concept: Promotion Strategy
Aarna industries started manufacturing ice-creams under the brand name 'Tasty'. The company decided to use 3D animation techniques which will be projected on buildings. They chose several high raise buildings all over major metropolitan cities and started their advertising campaign.
What form of media is the company using?
Concept: Promotion Strategy
This promotional technique is deliberately planned and sustained effort to establish and maintain mutual understanding between an organisation and public. This industry grew 12% to touch 1600 crore in FY19, according to the fourth ‘State of the Industry Survey 2019’ report by the Public Relations Consultants Association of India (PRCAI). While media relations continue to be the largest service, non-media relations services now contribute 53 per cent of the industry’s revenue. Identify the technique
Concept: Promotion Strategy
Ratnanjali Ayurveda introduced a new range of products on the basis of the tri doshas. The marketing department is brainstorming on the branding of the new range where the customers can identify the new range easily and at the same time it creates awareness about the type of products this range has. The name ‘AyurPrakriti’, was adopted by the company and it would be used for all the products under this range. Which type of branding is adopted by Ratnanjali Ayurveda?
Concept: 4p’s of Marketing >> Product
