Question
A company offers same-day delivery for its products.
Which type of economic utility is being enhanced, and how does this impact consumer satisfaction?
Time utility; it increases convenience by meeting immediate needs.
Possession utility; it allows consumers to own the product faster.
Information utility; it provides details about the delivery process.
Form utility; it improves the product’s physical features.
Which type of economic utility is being enhanced, and how does this impact consumer satisfaction?
Time utility; it increases convenience by meeting immediate needs.
Possession utility; it allows consumers to own the product faster.
Information utility; it provides details about the delivery process.
Form utility; it improves the product’s physical features.
Answers
GPT-4o mini
The type of economic utility being enhanced by a company offering same-day delivery for its products is **time utility**; it increases convenience by meeting immediate needs.
This enhancement impacts consumer satisfaction positively, as customers appreciate the ability to receive products quickly and efficiently. By fulfilling immediate demands, the company can improve the overall shopping experience, leading to increased customer loyalty and a higher likelihood of repeat purchases. Consumers are often more satisfied when they can access products without long waiting times, which aligns with the fast-paced nature of modern consumer expectations.
This enhancement impacts consumer satisfaction positively, as customers appreciate the ability to receive products quickly and efficiently. By fulfilling immediate demands, the company can improve the overall shopping experience, leading to increased customer loyalty and a higher likelihood of repeat purchases. Consumers are often more satisfied when they can access products without long waiting times, which aligns with the fast-paced nature of modern consumer expectations.