Why is customer satisfaction important for a venture?
Answer and explanation
Correct answer: Satisfied customers return and spread goodwill
When customers receive expected value and fair treatment, they are more likely to trust the venture, return for future purchases and recommend it to others. This creates goodwill and supports long-term performance. Option A is correct. Satisfaction does not mean customers refuse payment, remove the need for quality or distort market information.
Frequently asked questions
What is the correct answer to this question?
Satisfied customers return and spread goodwill
Why is this the correct answer?
When customers receive expected value and fair treatment, they are more likely to trust the venture, return for future purchases and recommend it to others. This creates goodwill and supports long-term performance. Option A is correct. Satisfaction does not mean customers refuse payment, remove the need for quality or distort market information.
Which subject and chapter does this question cover?
This is a Class 11 Business Studies question. Chapter: MSME and Business Entrepreneurship. Topic: Entrepreneurship Development.
