Utility is the ability of a good or service to satisfy the wants and needs of customers. When the marketing function makes a good or service available when customers want to purchase it, this is referred to as:
A) Place utility
B) Time utility
C) Ownership utility
D) Form utility

Question

Quizplus · Accepted Answer

When the marketing function makes a good or service available when customers want to purchase it, it is providing time utility. Place utility refers to making a product available in a convenient location, ownership utility refers to making a product easy to transfer from one party to another, and form utility refers to the process of turning raw materials and components into finished goods.

Utility Is the Ability of a Good or Service to Satisfy