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Briefly explain the forms of value/utility marketing creates and provides to the consumers.

Briefly explain the forms of value/utility marketing creates and provides to the consumers.

Answers

1. Form utility- it is the physical change that makes a product more valuable. Strictly speaking, this is a function of production but marketing plays a vital role in directing the ultimate shape, size, quality, and design of products.
2. Place utility - makes a product accessible and available to customers where they need or want it.
3. Time utility - makes a product available when they want it.
4. Possession utility - it is created when ownership/title is transferred to the buyer.

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Lellah answered the question on November 3, 2021 at 07:42

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