BUSINESS ADMINISTRATION
CUSTOMER RELATION MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Form, Place, Time, Possession
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Form, Place, Price, Possession
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Form, Product, Time, Possession
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Form, Demand, Time, Possession
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Detailed explanation-1: -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-2: -Utilities (water, electricity and gas) are essential services that play a vital role in economic and social development.
Detailed explanation-3: -Utility refers to the value or benefit a customer receives from the exchange, according to the University of Delaware. There are four types of utility: form, place, time and possession; together, they help to create customer satisfaction.
Detailed explanation-4: -There are four different types of utility: form utility, place utility, time utility, and possession utility. The extent to which these utilities affect purchase decisions depends on the individual. Nevertheless, it is safe to say that all of them can have a significant impact.