Why is it important for an entrepreneur to identify target customers?
Answer and explanation
Correct answer: To deliver the right product to the right people
A target customer is the group most likely to need and buy the offering. Identifying this group helps the entrepreneur design suitable features, set an appropriate price, choose effective communication, and use promotional resources efficiently. Hiding a product or ignoring the market prevents customer-product fit, so A is correct.
Frequently asked questions
What is the correct answer to this question?
To deliver the right product to the right people
Why is this the correct answer?
A target customer is the group most likely to need and buy the offering. Identifying this group helps the entrepreneur design suitable features, set an appropriate price, choose effective communication, and use promotional resources efficiently. Hiding a product or ignoring the market prevents customer-product fit, so A is correct.
Which subject and chapter does this question cover?
This is a Class 11 Business Studies question. Chapter: MSME and Business Entrepreneurship. Topic: Entrepreneurship Development.
