Asked by Chris Milano on Jul 05, 2024
Verified
The term ______ is used to describe the ability of a product to satisfy a customer's desires.
A) utility
B) exchange
C) strategy
D) market scanning
E) competitive intelligence
Utility
The total satisfaction or benefit that a consumer receives from consuming a good or service.
Competitive Intelligence
The act of gathering and analyzing information about competitors' activities and strategies to inform a company's decisions.
- Become acquainted with the concept of utility and how it is linked to the satisfaction of customers.
Verified Answer
AL
Adrianna LambertJul 12, 2024
Final Answer :
A
Explanation :
Utility is the term used to describe the ability of a product to satisfy a customer's desires, as it refers to the product's usefulness and its capacity to meet consumer needs and wants.
Learning Objectives
- Become acquainted with the concept of utility and how it is linked to the satisfaction of customers.