Question:
Product is a bundle of utilities. Explain.

Answer:

Yes, product is a bundle of utilities. It can be explained with the help of an example. On wearing a shirt, we get the following satisfactions:

Functional satisfaction: To wear the shirt and cover the body with it.
Psychological satisfaction: To feel more confident and active after wearing the shirt provides psychological satisfaction.
Social satisfaction:Getting recognition after wearing shirt from a group of known people is social satisfaction.

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Question:
Product is a bundle of utilities. Explain.

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Question:
Product is a bundle of utilities. Explain.