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Concept of Market — Revision Notes

CBSE · Class 11 · Entrepreneurship

Concept of Market revision notes for CBSE Class 11 Entrepreneurship: 4 topics in quick points. Part of the CBSE Class 11 Entrepreneurship syllabus.

45 questions20 flashcards5 concepts

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Key Topics to Revise

1

Evolution of Market Concept

  • Market derives from Latin 'marcatus' meaning merchandise, trade, or place of business
  • Traditional markets focused on specific places where buying and selling occurred
  • Modern markets emphasize people with purchasing power and willingness to spend
2

Market Environment Analysis

  • Market environment affects firm's ability to build customer relationships
  • Micro environment includes controllable internal forces
  • Macro environment comprises external uncontrollable forces
3

Market Research and Survey

  • Market research provides systematic study of business operations involving producer-consumer transfer
  • Good marketing information must be clear, relevant, reliable, accurate, and timely
  • Market survey is organized field research for collecting primary data
4

Market Expansion Strategies

  • Ansoff's Product Grid: Market Penetration, Market Development, Product Development, Diversification
  • Intensive expansion focuses on existing products and markets
  • Market development involves selling existing products to new customer groups

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Full Notes

Key Concepts

Markets have evolved from traditional physicalEMarket environment consists of Micro EnvironmentMarket research is the systematic studyBusinesses can expand through three main

Frequently Asked Questions

What are the important topics in Concept of Market for CBSE Class 11 Entrepreneurship?
Key topics in Concept of Market include Evolution of Market Concept, Market Environment Analysis, Market Research and Survey, Market Expansion Strategies. Study these first, then practise questions on each for Class 11 exams.
How should I revise Concept of Market for Class 11 exams?
Learn the core ideas first, then work through the 45 practice questions on Concept of Market. Revise definitions regularly and use flashcards for quick recall before the exam.

Sources & Official References

Content is aligned to the official syllabus. Refer to the board website for the latest curriculum.

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All CBSE Class 11 Entrepreneurship Revision Notes

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