What Type of Utility Is Practiced by Those Companies Who

question 1

Multiple Choice

What type of utility is practiced by those companies who allow marketers to have a voice in product design and identifying features customers want?

• A) Time
• B) Possession
• C) Form
• D) Value
• E) Place

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Definitions:

Promisor

A party in a contract who has agreed to perform a duty or obligation to another, known as the promisee.

Intended Third-party Beneficiary

A person who is not directly involved in a contract but is intended by the contracting parties to benefit from the contract.

Delegation

The process of allocating or assigning authority and responsibilities from one individual or group to another within an organization.

Duties

Responsibilities or obligations imposed by law or by the terms of a contract.