Marketing Channels Help Create Value for Consumers Through Four Utilities

question 265

Multiple Choice

Marketing channels help create value for consumers through four utilities. These utilities are

• A) product, price, promotion, and place.
• B) form, function, risk-taking, and selling.
• C) time, place, form, and possession.
• D) transactional, logistical, facilitating, and marketing.
• E) buying, selling, storing, and transporting.

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Definitions:

Units of Labor

The quantity of labor input, measured in hours or number of workers, used in the production of goods and services.

Supply Determined

A scenario where the quantity of goods available in the market is primarily dictated by the supply side, rather than consumer demand.

Spruce Goose

The nickname for the Hughes H-4 Hercules, famously known as the largest wooden airplane ever constructed and flown only once.

Fixed in Supply

Pertains to goods or resources that have a limited or unchangeable quantity available, regardless of demand.