In which situation should an entrepreneur focus on increasing value instead of only reducing cost?
Answer and explanation
Correct answer: जब ग्राहक बेहतर गुणवत्ता, सुविधा और भरोसे के लिए अधिक भुगतान करने को तैयार हों
Customer value is the benefit perceived in relation to the price paid. If customers are willing to pay more for dependable quality, convenience, and trust, improving these benefits can strengthen the offering and justify the price. Cost reduction alone may damage quality; without a real customer need, extra value cannot be assumed.
Frequently asked questions
What is the correct answer to this question?
जब ग्राहक बेहतर गुणवत्ता, सुविधा और भरोसे के लिए अधिक भुगतान करने को तैयार हों
Why is this the correct answer?
Customer value is the benefit perceived in relation to the price paid. If customers are willing to pay more for dependable quality, convenience, and trust, improving these benefits can strengthen the offering and justify the price. Cost reduction alone may damage quality; without a real customer need, extra value cannot be assumed.
Which subject and chapter does this question cover?
This is a Class 11 Business Studies question. Chapter: MSME and Business Entrepreneurship. Topic: Entrepreneurship Development.
