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Utility is the ability of a product to satisfy a want or need. What types of...

Utility is the ability of a product to satisfy a want or need. What types of utility does Method create through their product line?

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Answer #1

There are four types of utilities that are created through the product line:

1. Time:

This involves the availability of the product or services at the time of demand made by the customers. This includes the business plans to make their product available on time.

2. Place:

This includes the place where the good is easily accessible to the customers. This also covers the online platform through which a commodity can be made available to the customers.

3. Form

This includes the type of commodity that the company is making available to the customers as per the customers demand and the expected profit margin. The companies analyse the market in order the maximize their interest.

4. Possession

This includes the satisfaction that the customers are availing through the goods or services that the companies are selling to their customers.

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