Question : Case Study 8:
JKL Ltd. is a retail company operating in a country that recently went through a demonetization process. The company is facing challenges due to changes in consumer spending behavior.
Q:- How can understanding the economic environment help JKL Ltd. in dealing with changes in consumer spending behavior after demonetization?
Option 1: By expanding into new markets
Option 2: By adopting cashless payment options
Option 3: By increasing product prices
Option 4: By diversifying into unrelated businesses
Correct Answer: By adopting cashless payment options
Solution : The correct answer is (B) By adopting cashless payment options
Understanding the economic environment can help JKL Ltd. in dealing with changes in consumer spending behavior after demonetization, particularly by enabling the company to adopt cashless payment options. As demonetization can impact the use of cash in transactions, understanding the economic environment and recognizing the shift towards digital payments can help the company offer and promote cashless payment solutions to adapt to changing consumer preferences.
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