Q4.

Explain the following utilities sought by consumers while buying a product along with relevant
examples.
a. Place Utility
b. Time Utility
c. Form Utility
d. Possession Utility

Ans-

The Place Utility Component

Spot utility is the worth shoppers put on where they buy items. Stores make it simpler for the
shoppers to buy things, instead of heading to a processing plant or distribution center where
the items are made or put away. Customers discover what they need in a spot strategically
placed close to home or work. For instance, Apple Inc. (AAPL) sells iPhones and PCs through its
retail locations, yet in addition offers its items through other gadgets retailers, including Best
Buy Co. Inc. (BBY).
The Time Utility Component

Guaranteeing an item is accessible when the client needs it clings to time utility. Shopper
interest for items differs relying upon the climate, Christmas season or regular needs and
needs. For instance, the interest for comfortable coats increments throughout the colder time
of year, and the interest for Christmas, Halloween or Easter designs increments when these
occasions approach, while the interest for pop and other soda pop items might continue as
before over time since clients can drink these items whenever.

The Form Utility Component

Structure utility is the worth a shopper finds in a completed item. Shoppers buy things like
furnishings, hardware or vehicles to some extent in light of the fact that the purchaser is
unequipped for finding and assembling every one of the parts to make the item. The client
sees esteem in the completed item, or the structure made by every item part.

The Possession Utility Component

Ownership utility is the worth shoppers put on buying an item and having the opportunity to
utilize the item as it was expected or tracking down another utilization for the item. For
instance, many individuals use vases for planting, however these pots have different uses like
stockpiling for little articles found around the house or as a focal point for the lounge area
table.