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Understanding the Market — Entrepreneurship STD 11 Commerce — Question

CBSE BoardEnglish MediumSTD 11 CommerceEntrepreneurshipUnderstanding the Market4 Marks
Question
Which features are to be taken into consideration to create, maintain and retain consumer?
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Answer

Following features are to be taken in consideration to create, maintain and retain consumer by the enterprises:
  1. Tradition, customs, beliefs, values of society and customers.
  2. Lifestyle, standard of living, consuming habits.
  3. Propensity to consume and save.
  4. Education level, thinking behaviour.
  5. Income level.
  6. Demographic characteristics, etc.

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