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utility is the satisfaction that one acquires from consumption of a product.There are four forms of utility;time,form,possesive and place utility
(a) TIME UTILITY
This is satisfaction of commodity or good by its availability at a particular time.for example during rainy season selling umbrellas at lower price will be higher time utility.
(b) FORM UTILITY
making product more attractive to customers by making changes in the appearance of the profuct.example drawing some funny things on cakes attract customers therefore higher form utility
(c) POSSESIVE UTILITY
this is the satisfaction one gets by using commodities of company he or she sells at
.....example by selling bread in canteen one gets possesive utility
(d)PLACE UTILITY
Utility one enjoys by making goods readily available to the customers premises.for example taking maize from cereals to customers home
0704577605 answered the question on February 10, 2018 at 12:58
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