Question

The _____ refers to the consumer's perception of the product as a bundle of values of utilitarian and symbolic values that satisfy functional, social, psychological, and other wants and needs.

Answer 1

Product Concept

Step-by-step explanation:

The one which represent the perception of the consumer or customer of the product as a bundle of the values of symbolic as well as utilitarian values and that satisfy the psychological, functional, social and the other needs and wants of the customer will be referred to as the product concept. And it is basically a blueprint of the idea.