An entrepreneur finds that customers want reliable service rather than a low price. What should be changed?
Answer and explanation
Correct answer: The value proposition
A value proposition states the main benefit and reason a customer should choose an offering. If customers value reliability more than cheapness, the enterprise should redesign and communicate its promise around dependable service, consistency, and trust. Personal interests, legal identity, and a school timetable do not express customer value, so A is correct.
Frequently asked questions
What is the correct answer to this question?
The value proposition
Why is this the correct answer?
A value proposition states the main benefit and reason a customer should choose an offering. If customers value reliability more than cheapness, the enterprise should redesign and communicate its promise around dependable service, consistency, and trust. Personal interests, legal identity, and a school timetable do not express customer value, so A is correct.
Which subject and chapter does this question cover?
This is a Class 11 Business Studies question. Chapter: MSME and Business Entrepreneurship. Topic: Entrepreneurship Development.
