BUSINESS ADMINISTRATION
INTERNATIONAL MARKETING
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Detailed explanation-1: -Utility refers to the total satisfaction or value that you get from consuming a particular product or service. Utility values are critical for determining why different goods have different costs and levels of demand. Products with higher utility usually have more demand, meaning they can command higher prices.
Detailed explanation-2: -There are four basic principles that fall under this umbrella, including form utility, time utility, place utility, and possession utility.
Detailed explanation-3: -What is Time Utility? Time Utility is a concept in marketing which says that providing customers with products or services at the right time exactly when they want them irrespective of any other variation or parameters.
Detailed explanation-4: -There are mainly four kinds of utility: form utility, place utility, time utility, and possession utility. These utilities affect an individual’s decision to purchase a product.