Answer to Question #210047 in Economics of Enterprise for kyoukoku

Question

When businesses produce goods and services that consumers do not want

Answer 1

1. The business relevance in the market will be lost costing the company and it's market share.
2. The business will not be able to attract new customers nor retain existing customers leading to it's failure.
3. There are high chances of service/product failure of the business. This is because consumers have a control on the market and should be a priority in goods and services production in the markets.