Multiple Choice QuestionRetailers create several forms of utility. For instance, Kohl's assumes the risk of possessing the inventory of each store. This is a form of _____ utility.Multiple choice question.timeproductownershipplace
Question
Multiple Choice QuestionRetailers create several forms of utility. For instance, Kohl's assumes the risk of possessing the inventory of each store. This is a form of _____ utility.Multiple choice question.timeproductownershipplace
Solution
The correct answer is "ownership".
Kohl's assuming the risk of possessing the inventory of each store is a form of ownership utility. Ownership utility refers to the process of transferring a product from the business to the customer. It involves the transaction where the customer takes possession of the product, thus assuming any risks associated with owning the product.
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