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Possession utility is provided when:
- a)A good or service is obtained and there is a right to use or consume it.
- b)A product is available where someone wants it.
- c)Someone performs a task for someone else
- d)Someone produces something tangible
Correct answer is option 'A'. Can you explain this answer?
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Most Upvoted Answer
Possession utility is provided when:a)A good or service is obtained an...
Possession utility refers to the value or benefit that a consumer derives from having physical possession of a product or service. It is one of the four types of utility, along with form, time, and place utility. Possession utility is created when a good or service is obtained and there is a right to use or consume it.
Explanation:
Here are some points that explain why option 'A' is the correct answer:
• The possession utility is associated with the right to use a product or service after obtaining it.
• This utility is created when the ownership of a product or service is transferred to the consumer.
• Possession utility is important for many types of products and services. For example, a car provides possession utility because the owner can use it whenever and wherever they want.
• Possession utility is also important for services such as a haircut, where the customer obtains the right to use the service, and the service provider is responsible for providing it.
• Possession utility is closely related to ownership and use rights. When a consumer has possession utility, they have the right to use a product or service as they see fit, subject to any legal or contractual restrictions.
Conclusion:
Possession utility is an important concept in marketing because it helps businesses understand how consumers derive value from their products and services. By creating products and services that provide possession utility, businesses can attract and retain customers, build brand loyalty, and generate revenue.
Explanation:
Here are some points that explain why option 'A' is the correct answer:
• The possession utility is associated with the right to use a product or service after obtaining it.
• This utility is created when the ownership of a product or service is transferred to the consumer.
• Possession utility is important for many types of products and services. For example, a car provides possession utility because the owner can use it whenever and wherever they want.
• Possession utility is also important for services such as a haircut, where the customer obtains the right to use the service, and the service provider is responsible for providing it.
• Possession utility is closely related to ownership and use rights. When a consumer has possession utility, they have the right to use a product or service as they see fit, subject to any legal or contractual restrictions.
Conclusion:
Possession utility is an important concept in marketing because it helps businesses understand how consumers derive value from their products and services. By creating products and services that provide possession utility, businesses can attract and retain customers, build brand loyalty, and generate revenue.
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Possession utility is provided when:a)A good or service is obtained and there is a right to use or consume it.b)A product is available where someone wants it.c)Someone performs a task for someone elsed)Someone produces something tangibleCorrect answer is option 'A'. Can you explain this answer?
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Possession utility is provided when:a)A good or service is obtained and there is a right to use or consume it.b)A product is available where someone wants it.c)Someone performs a task for someone elsed)Someone produces something tangibleCorrect answer is option 'A'. Can you explain this answer? for CA CPT 2024 is part of CA CPT preparation. The Question and answers have been prepared according to the CA CPT exam syllabus. Information about Possession utility is provided when:a)A good or service is obtained and there is a right to use or consume it.b)A product is available where someone wants it.c)Someone performs a task for someone elsed)Someone produces something tangibleCorrect answer is option 'A'. Can you explain this answer? covers all topics & solutions for CA CPT 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Possession utility is provided when:a)A good or service is obtained and there is a right to use or consume it.b)A product is available where someone wants it.c)Someone performs a task for someone elsed)Someone produces something tangibleCorrect answer is option 'A'. Can you explain this answer?.
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