Which utility applies to a company that educates customers about its products' features? A. form utility B. knowledge utility C. possession utility D. place utility E. price utility

Question

Business

Paulina Mills

3 April, 18:58

Which utility applies to a company that educates customers about its products' features? A. form utility B. knowledge utility C. possession utility D. place utility E. price utility

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Answers (1)

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Kirsten Lam · Answer 1

C. possession utility

Explanation:

The explanation can be justified by the definition of these terms.

Possession utility is a term used to refer the value that the company offers to the consumers if they purchase or use the product in the way that the company made it for - similar with the feature of products. In general, it is the perceived value from the products.

Meanwhile: Knowledge utility is created from the increase in knowledge of the consumers about the product. This applies to the customers. Form utility is created when there is change in the shape or forms of products. Place utility is about making goods and services accessible to the potential consumers. And price utility is about making products affordable with customers and reasonable with the value it offers.