What should an entrepreneur balance while setting price?
Answer and explanation
Correct answer: लागत, ग्राहक भुगतान क्षमता और प्रतिस्पर्धा
Pricing should cover relevant costs and support the venture’s objectives, while remaining acceptable to the target customer and realistic compared with competing offers. The entrepreneur should consider demand, perceived value, and market conditions as well. Personal preference, shop colour, or one friend’s opinion cannot provide a sound pricing basis.
Frequently asked questions
What is the correct answer to this question?
लागत, ग्राहक भुगतान क्षमता और प्रतिस्पर्धा
Why is this the correct answer?
Pricing should cover relevant costs and support the venture’s objectives, while remaining acceptable to the target customer and realistic compared with competing offers. The entrepreneur should consider demand, perceived value, and market conditions as well. Personal preference, shop colour, or one friend’s opinion cannot provide a sound pricing basis.
Which subject and chapter does this question cover?
This is a Class 11 Business Studies question. Chapter: MSME and Business Entrepreneurship. Topic: Entrepreneurship Development.
