CBSE 2024 · Region 2 · Set 1 · Q24

After studying Entrepreneurship in Class XII, Neel completed a baking course and started a bakery, 'Cakes and Bakes'. He set a target of earning a modest $\displaystyle 10$% return on investment in the first year. As he was supplying healthy bakery products, the demand kept increasing. 'Cakes and Bakes' became a famous bakery in a year. He now wanted to develop a plan to define the direction and scope of 'Cakes and Bakes' for the long run. He made a marketing plan to

decide if he could charge higher price to improve his return on investment, how to advertise the products, etc. Quoting lines from the above paragraph, identify and explain two types of plans discussed in the above case.