'Product is a bundle of utilities’. Do you agree? Comment.
Yes, I agree with this statement. It can be explained with the help of an example. On wearing a shirt, we get the following satisfactions:
(i) Functional satisfaction To wear the shirt and cover the body with it.
(ii) Psychological satisfaction To feel more confident and active after wearing the shirt provides psychological satisfaction.
(iii) Social satisfaction Getting recognition after wearing shirt from a group of known people is social satisfaction.