MANAGEMENT

Detailed explanation-1: -Thus, a product is said to be a bundle of utilities and a buyer while buying a product values all such kinds of utilities.

Detailed explanation-2: -Answer: Yes, product is a bundle of utilities, which is purchased because of its capability to provide satisfaction of certain need. A buyer buys a product or service for what it does or service for what it does for her or the benefits it provides.

Detailed explanation-3: -W. Alderson has defined product as a bundle of utilities. A product is said to be bundle of utilities because it offers various physical and psychological benefits that the marketer wants to offer or we can say it fulfils bundle of expectations of customers.

Detailed explanation-4: -In marketing, utility refers to how a product can be useful to customers in a way that convinces them to make a purchase. Marketing utility is the idea that the best way to sell a product to a consumer is to show them how the product could provide value to their life.

Detailed explanation-5: -According to W. Alderson “A product is a bundle of utilities consisting of various product features and accompanying services”. According to Philip Kotler “A product is anything tangible or intangible that can be offered to a market for attention, acquisition use or consumption that might satisfy a need or want”.