Describe the kinds of utility that marketing provides to customers

Question

What will be an ideal response?

Answer 1

First, when a company produces a product from raw materials, like a designer swimsuit from fabric and raw materials, it creates form utility. The product takes on a form that pleases the customer. Second, task utility, when someone performs a service for someone else, such as when a seamstress alters a swimsuit. Third, when the store sells the swimsuit, it transfers ownership from the store to the customer, creating ownership utility. The buyer derives satisfaction from owning the latest swimwear. Fourth, when the business makes the swimsuit available in time for summer, it creates time utility because the swimwear is available for sale at a time when it's most needed. And fifth, when the swimsuit is stocked and placed on display at your local department store, it creates place utility by making the product available for purchase at a place that's convenient for buyers. Note that students don't need to use the swimwear example.