How would an ice cream vendor create the four types of utility?
What will be an ideal response?
The ice cream vendor would create form utility by combining ingredients to make a milkshake or a sundae. Place utility would mean the ice cream is available where the customer wants it. Time utility would mean the ice cream is available when the customer wants it. Possession utility refers to the enjoyment consumers have eating the ice cream.
You might also like to view...
In the repricing gap model, assets or liabilities are rate sensitive within a given time period if the dollar values of each are subject to receiving a different interest rate should market rates change.
a. true b. false
An advantage of using company specialists in conducting a retail audit is the _____
a. objectivity b. high independence c. ongoing nature of the process d. low cost