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When should an entrepreneur make changes in a product?

Answer and explanation

Correct answer: When customer feedback and market signals show the need for change

Product changes should respond to evidence such as repeated customer feedback, changing demand, new technology, quality problems, or competitive movement. The entrepreneur should examine the information and assess cost and feasibility before acting. Random daily changes can confuse customers, while ignoring demand and cost can make improvements impractical.

Related tags

Product-ImprovementCustomer-FeedbackEntrepreneurship DevelopmentMsme And Business EntrepreneurshipBusiness StudiesClass 11 Mcq

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