Question

define creation of utlilities

Answer 1

Utility refers to the value or benefit a customer receives from the exchange, according to the University of Delaware. There are four types of utility: form, place, time and possession; together, they help to create customer satisfaction.

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Answer 2

Creation of Utilities: An important characteristic of business is the creation of utilities is goods so that consumers may use them. ... When raw material is converted into finished goods, it creats form utility. When it is stored and brought into the market when needed, then time utility is created.

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