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Concept of Market

CBSE · Class 11 · Entrepreneurship

Quick revision notes for Concept of Market — CBSE Class 11 Entrepreneurship. Key concepts, formulas, and definitions for last-minute revision.

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?
Concept of Market covers several key topics that are frequently asked in CBSE Class 11 board exams. Focus on the core concepts listed on this page and practise related questions to build confidence.
How to score full marks in Concept of Market — CBSE Class 11 Entrepreneurship?
Understand the core concepts first, then work through the 45 practice questions available for this chapter. Revise formulas and 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 7 chapters — CBSE Class 11 Entrepreneurship Revision Notes

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