A small business owner must understand what the customer values and how much money the customer is willing to pay to obtain the firm's product or service.

Question

Quizplus · Accepted Answer

Understanding customer values and willingness to pay is crucial for a small business owner to succeed in the market. It helps in pricing the product/service effectively and delivering value to the customers, thereby increasing customer loyalty and profitability.

A Small Business Owner Must Understand What the Customer Values