In which situation is it suitable for an entrepreneur to modify the product?
Answer and explanation
Correct answer: Most target customers report the same gap
Repeated, similar feedback from a substantial share of the target customers is evidence that the product may not fully meet a market need. The entrepreneur can investigate the complaint, test a modification, and measure the response. One unexplained personal dislike is weak evidence, while the owner’s preference or a competitor’s location change does not directly establish a product defect.
Frequently asked questions
What is the correct answer to this question?
Most target customers report the same gap
Why is this the correct answer?
Repeated, similar feedback from a substantial share of the target customers is evidence that the product may not fully meet a market need. The entrepreneur can investigate the complaint, test a modification, and measure the response. One unexplained personal dislike is weak evidence, while the owner’s preference or a competitor’s location change does not directly establish a product defect.
Which subject and chapter does this question cover?
This is a Class 11 Business Studies question. Chapter: MSME and Business Entrepreneurship. Topic: Entrepreneurship Development.
