What Is Utility? What Are the Major Types of Utility

question 32

Essay

What is utility? What are the major types of utility? Give an example of how marketing intermediaries can provide each type of utility.

Identify different types of retailers and their characteristics.

Understand the significance of retail mix and the role of promotion within retail.

Comprehend the strategic role of pricing in retail.

Appreciate the impact of location on retail success.

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Definitions:

Equitable Remedy

A court-ordered remedy tailored to address a particular harm or legal violation, including injunctions and specific performance, emphasizing fairness over monetary compensation.

Demonstration

A public gathering of people to display support for or opposition against policies, actions, or causes, usually in a peaceful manner.

Tort Of Deceit

A legal wrong that involves intentionally making false representations to another, causing harm.

Rescission

Rescission is the legal act of canceling or terminating a contract, returning all parties involved to their positions before the contract was entered into.