Understanding the Market — Entrepreneurship STD 11 Commerce — Question

Charles G. Mortimer:
Instead of trying to market what is essential for us to make, we must find out much more about what the consumer is willing to buy We must apply our creativity more intelligently to people, and their wants and needs, rather than products. The most influential force which rules the market is the 'Consumer', Consumer satisfaction is the foundation stone of a successful business.
Consumer demand is the most important element as it directly affects enterprises:-

1. Profitability.
2. Reputation and Goodwill.
3. Expansion Plans.