|4/5 Types of Utility|
Production and Marketing
supply various kinds of utility that are needed to provide consumer satisfaction
|Definition of terms||Within the world
of "teaching marketing", and websites discussing the various "utilities
of marketing", you'll find a variation on whether there are 4 or 5 Types,
and sometimes different wordings of the type.
Fundamentally, the concept is used to explain that the process of marketing creates several "things" which make a product/service useable to the end user, without these "things" being done, it is not possible to acquire, and use the product properly.
|When we say utility, what we mean is for a product to be something we can use and get some usefulness out of - utility|
someone makes something, they assemble a product from parts and you can
use it. Marketing people use research to make sure that the form and shape
of the product fits the expectations of the customer.
For example, the form, when applied to a clothing item, can be the shape of the garment and the range of sizes and the selection of fabric. So the "utility" of the marketer, is that they assemble various fabrics together into a garment that you can wear, instead of you gathering all the component parts yourself and making it yourself.
When applied to a service like software, it can be versions for different applications, or operating systems, like Windows and Mac.
the context of providing a service, when someone does something for you,
"social-cultural environment" of customers in the current marketing climate
is one in which people often are quite impatient to take possession of
the product once they have made the final decision to buy.
It is important, in a competitive environment, to use every opportunity to streamline your supply chain and distribution channels to allow a customer to physically obtain the chosen product as quickly as possible.
utility of place refers to having the product exist in a location that
is easily accessible to the buyer at the moment in time when their payment
transaction is concluded.
For example, it is no good having a detailed YouTube video of how your low priced air-conditioner works, if the customer has to drive many miles to find a store with one actually in stock.
utility of Place and Possession are very much inter-related and depend
on each other.
When someone buys something from a vendor, essentially, it is a "transfer of ownership".
Part of being successful in the competitive world of "selling stuff" is to make it easy for the customer to pay, and take possession.
The marketing utility that allows the customer to physically access what they bought, it referred to as "possession".
a variety of easy payment methods, cash, debit, credit card, paypal, etc.
is part of facilitating possession as is the physical location of the product
and how it is delivered to the customer.
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