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An entrepreneur sells a product at a lower price than a competitor while maintaining its quality. What may be the strategy?

Answer and explanation

Correct answer: Reduce costs and offer a competitive price

A lower selling price can be sustainable when the entrepreneur reduces unnecessary production, purchasing, packaging, or operating costs without lowering the product’s essential quality. Better planning and efficient use of resources can make this possible. The aim is to offer a competitive price while covering costs and earning a reasonable return. Therefore, option B is correct; the other choices do not explain a sound pricing strategy.

Related tags

Competitive-PriceCost-ManagementQualityIntroduction To EntrepreneurshipEntrepreneurial Skills IArtificial IntelligenceClass 9 Mcq

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