The Marketing Function Creates All of the Following Types of Utility

question 59

Multiple Choice

The marketing function creates all of the following types of utility EXCEPT _____ utility.

• A) time
• B) ownership
• C) place
• D) form

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Definitions:

Weighted Additive Rule

This rule is a decision-making strategy where alternatives are evaluated by multiplying each attribute's importance weight by its quantitative value, then summing these products to determine the best option.

Compensatory Rule

A decision rule used in consumer choice where the negative aspects of a product can be compensated by its positive aspects.

Price-Quality Relationship

The perceived association between the cost of a product or service and its quality, influencing consumer decision-making.

Product Signal

Indicators or features of a product that communicate its quality, authenticity, or prestige to consumers.