Identify and explain the concept from the given illustrations:Nilesh p

1.	Identify and explain the concept from the given illustrations:Nilesh purchased ornaments for his sister.
Answer» Concept : Possession utility. Explanation : When the ownership of a product changes from seller to buyer, it is called possession utility. In the given example, ornaments are purchased by Nilesh for his sister. Ownership of a product changed, so it is an example of possession utility.

Identify and explain the concept from the given illustrations:Nilesh purchased ornaments for his sister.

Answer»

Concept : Possession utility.

Explanation : When the ownership of a product changes from seller to buyer, it is called possession utility.

In the given example, ornaments are purchased by Nilesh for his sister. Ownership of a product changed, so it is an example of possession utility.