Question

Match each type of utility with its definition.

looks at how usable the product or service is____
looks at the ease of availability of a product when a customer wants it ____
the concept used to analyze how people make choices between competing products____
looks at the value added to a product based on its location_____
looks at the value of a product due to the payment methods available____
Option:
1. time utility
2. economic utility
3. form utility
4. possession utility
5. place utility

Answer 1

Time utility looks at how usable the product or service is, place utility looks at the value added based on location, form utility looks at the ease of availability, possession utility looks at value based on payment methods, and economic utility analyzes choices between competing products.

Step-by-step explanation:

Match each type of utility with its definition:

1. Time utility: looks at how usable the product or service is.
2. Place utility: looks at the value added to a product based on its location.
3. Form utility: looks at how easily available a product is when a customer wants it.
4. Possession utility: looks at the value of a product due to the payment methods available.
5. Economic utility: the concept used to analyze how people make choices between competing products.