Functions
The physical movement of a good or service
What is distribution?
Making or producing things
What is form utility?
goods and services
what is a product?
The process of creating a product in response to market opportunities.
What is product planning?
The product’s usefulness is increased because of its location.
What is place utility?
Material items you can touch
The determination of an exchange price
What is pricing?
Making a product available at the right time of year or a convenient time of day.
What is time utility?
A series of tasks performed for a customer
what is a service?
Obtaining goods and services for use in the operation of a business or for resale.
What is purchasing?
The ability to aid customers in owning goods.
What is possession utility?
Making or producing the correct good or service
What is marketing?
Determining the need for and availability of financial resources to aid in marketing activities.
What is financing?
Usefulness added to the product through communication.
What is information utility?
takes place every time something is sold in the marketplace
what is an exchange?