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Enterprise Marketing — Entrepreneurship STD 12 Commerce — Question

CBSE BoardEnglish MediumSTD 12 CommerceEntrepreneurshipEnterprise Marketing1 Mark
Question
Market rate method is useful for new entrepreneurs. Why?
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Answer

Market rate method is useful for new entrepreneurs because of following reasons:
  1. Low risk: Keeping the price of the product equivalent to the market rate minimizes the risk of loss to a new entrepreneur.
  2. More chances of success: The prices fixed are competitive. This provides more chances of selling the new product in the market.

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