If customers find a product useful but feel the price is too high, what should the entrepreneur do first?
Answer and explanation
Correct answer: लागत, मूल्य और ग्राहक क्षमता का पुनः आकलन करना चाहिए
The feedback shows that the product has usefulness, but its price may not match customer affordability or perceived value. The entrepreneur should examine production cost, possible efficiencies, customer willingness to pay, and competing prices before acting. Ignoring feedback, closing immediately, or raising price further is not a reasoned first response.
Frequently asked questions
What is the correct answer to this question?
लागत, मूल्य और ग्राहक क्षमता का पुनः आकलन करना चाहिए
Why is this the correct answer?
The feedback shows that the product has usefulness, but its price may not match customer affordability or perceived value. The entrepreneur should examine production cost, possible efficiencies, customer willingness to pay, and competing prices before acting. Ignoring feedback, closing immediately, or raising price further is not a reasoned first response.
Which subject and chapter does this question cover?
This is a Class 11 Business Studies question. Chapter: MSME and Business Entrepreneurship. Topic: Entrepreneurship Development.
