Practicing Success

Target Exam

CUET

Subject

Business Studies

Chapter

Marketing

Question:

Identify the benefits, which is not availed by a customer while purchasing a product:

Options:

Functional Benefits

Psychological Benefits

Saving Benefits

Social Benefits

Correct Answer:

Saving Benefits

Explanation:

The correct answer is option (3) : Saving Benefits

Here's the reasoning for why saving benefits are not availed by a customer when purchasing a product:

1. Functional Benefits: These benefits are related to the product's functionality and how it fulfills a customer's needs or solves a problem. Customers experience functional benefits when they use the product.

2. Psychological Benefits: These benefits are related to the emotional and psychological satisfaction a customer derives from the product. This can include feelings of happiness, pride, or confidence that the product provides.

3. Social Benefits: Social benefits refer to how the product enhances a customer's social status or relationships. For example, if a product makes a customer more popular or respected, it provides social benefits.

4. Saving Benefits: Saving benefits are associated with cost savings Or financial gains made by the customer during the purchase process. Customers can enjoy these benefits by paying less than the original price, taking advantage of discounts, or getting a good deal.

So, saving benefits are different from the other three types of benefits, as they are realized at the point of purchase, while the others are experienced during and after product usage.