ENTREPRENEURSHIP

Detailed explanation-1: -Time utility: A warehouse creates time utility by bringing the time gap between the production and consumption of goods. It helps in making available the goods whenever required or demanded by the customers.

Detailed explanation-2: -Warehousing provides time and place utility for raw materials, industrial goods, and finished products, allowing firms to use customer service as a dynamic value-adding competitive tool.

Detailed explanation-3: -Place utility: this utility is derived when you can transport goods from one place to another. Transportation services create time utility. Place utility is always more in places of scarcity than abundance. For Example, when apples from Kashmir is transported to any other place, place utility is created.

Detailed explanation-4: -When a company provides goods or services to consumers when they demand or need them, it is referred to as time utility. Place utility involves making products or services available in locations that allow consumers to easily access them.