BACHELOR OF BUSINESS ADMINISTRATION

Detailed explanation-1: -Place. Place utility means that a customer can purchase products in locations that are convenient to them. The more widely available a product is to your target consumer, the more place utility you can provide.

Detailed explanation-2: -Place utility refers to making goods or services available in locations that allow consumers to easily access products and services.

Detailed explanation-3: -Place utility can be used to draw customers to a product or service as well because it associates a specific place to the product or service. For example, someone from America might find French wine more appealing because of its association with the city as being foreign and, thus, more attractive.

Detailed explanation-4: -There are four types of utility: Form utility, Possession utility, Time utility, Place utility. Form utility is created by the design of the product or service itself. The more precisely a good or service is targeted towards customer needs and desires, the higher its perceived added value (i.e., form utility) will be.

Detailed explanation-5: -Place utility is the benefit marketing provides by making products available where customers want them. Time utility is the benefit marketing provides by storing products until they are needed.