The value to a consumers from changing the composition of a product is:

Question

Responses

Ownership Utility
Ownership Utility

Form Utility
Form Utility

Place Utility
Place Utility

Time Utility

Answer 1

The value to consumers from changing the composition of a product is referred to as Form Utility.

Form utility is created when a product is transformed or changed in a way that enhances its value or appeal to consumers, such as through changes in its design, features, or overall composition. This differs from ownership, place, or time utility, which focus on aspects such as possession, location, and timing of availability.