Class 12 Revision Notes For Business Studies Chapter 11 Marketing

Marketing is a chapter that deals with various concepts, such as – Market, customer, marketer or seller, marketing, features of marketing – need and want, creating a market offering, customer value, exchange mechanism, marketing management – choosing target market, growing customers in target market, creating superior value, difference between selling and marketing – scope, objective, focus, start and end, efforts, supremacy, approach, demand, marketing management philosophies – production concept, product concept, selling product concept, marketing concept, societal concept.

Frequently asked Questions on CBSE Class 12 Business Studies Notes Chapter 11: Marketing

What is ‘Marketing management’?

Marketing management is defined as the art and science of choosing target markets and building profitable relationships with them.

What is ‘Product Concept’?

A product concept is a detailed description of an idea, which you describe from the perspective of your customer.

What is ‘Superior value’?

Superior value is created when customers are willing to pay more for a product or service than competitors’, or when customers prefer this version of a product or service to all others.

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