Marketing creates utility. This is not a utility created by marketing.

Question

BlackTom AI · Accepted Answer

The question asserts that marketing creates utility, and asks which of the listed utilities is not created by marketing.
Option 1: Ownership utility. This is the utility provided when a customer gains legal rights to possess or use a product, often facilitated by marketing through a clear exchange process and convenient ownership transfer. It is commonly considered within the realm of marketing activities that enable possession.
Option 2: Price utility. This term suggests value derived from the price point itself. While pricing is a marketing decision, the notion that marketing creates ‘price utility’ is misleading because price is a cost or value decision set by the seller, not a form of utility created by marketing; price affects perceived value but is not a utility created by marketing in the same sense as time, place, or possession utilities. This makes it a strong candidate for the statement in the question as the utility not created by marketing.
Option 3: Place utility. This refers to the availability of a product in a convenient location for the customer. Marketing certainly creates place utility by distributing products where customers want them.
Option 4: Time utility. This concerns the availability of a product when customers want it, which marketing strategies (inventory, seasonal timing, rapid delivery) commonly establish, thus creating time utility.
In summary, most utilities—ownership, place, and time—are traditionally linked to marketing activities that enhance value through possession, location, and timing. Price utility, however, is not typically categorized as a utility created by marketing in the same sense; it’s more about the price barrier or value proposition, not a utility arising from marketing’s ability to deliver via different channels or forms. Therefore, option 2 is the one that best fits the idea that it is not a utility created by marketing.

MGM101H5 F LEC0101 Quiz #5

Marketing creates utility. This is not a utility created by marketing.

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