Studied by 3 people
Value Addition
The process by which marketing functions enhance the worth of products, known as utility.
Form Utility
The enhancement of a product's physical characteristics to increase its value.
Time Utility
The availability of a product at the time it is needed by consumers.
Place Utility
The accessibility of a product in locations where it is required by customers.
Possession Utility
The facilitation of ownership transfer of a product to the consumer.
Information Utility
The provision of relevant information about a product to assist consumers in making informed decisions.
Raw Materials Transformation
The process of converting raw materials into finished products, exemplified by smartphone assembly.
Online Shopping
A method of providing place utility by making products available to customers via the internet.
Seasonal Promotions
A strategy to provide time utility by offering products when they are in demand during specific seasons.
Financing Options
A way to enhance possession utility by offering consumers various payment methods for acquiring products.
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