What is defined as the satisfaction a consumer derives from the usefulness of a product?

The term that describes the satisfaction a consumer derives from the usefulness of a product is utility. Utility refers to the perceived value or benefit that a product provides to a consumer, reflecting how well it meets their needs or desires. This concept is central to understanding consumer behavior and decision-making, as it encompasses not just the functional aspects of a product, but also the emotional and psychological satisfaction it can deliver. When consumers evaluate products, they often consider the utility derived from them, which influences their purchasing choices and overall satisfaction.

In contrast, the other options have different meanings. Value often refers to the importance or worth of a product as understood in terms of price and quality rather than direct satisfaction. Benefit might describe specific advantages or positive outcomes from using a product, but it does not capture the full scope of satisfaction derived. The Satisfaction Index measures overall satisfaction levels among consumers rather than focusing on the usefulness aspect specifically.