BUSINESS ADMINISTRATION
BUSINESS ECONOMICS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Place
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Form
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Possession
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Time
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Detailed explanation-1: -Possession utility speaks to the actual act of product possession-such as consumers driving a new car off the lot or having furniture delivered to their home. It also highlights the connection between possession and purpose.
Detailed explanation-2: -There are four types of economic utility, which include form, time, place, and possession. Companies that can understand and recognize areas that are lacking in their marketing schemes can assess consumer purchase decisions and pinpoint the drivers behind those decisions, thus boosting their sales and profits.
Detailed explanation-3: -Place utility is created when goods are carried out from the place of production to consumer.
Detailed explanation-4: -the value given to a product by virtue of the fact that the purchaser has the legal right to own and use it freely.