Define Utility,and Describe How Each Type of Utility Impacts the Marketing

question 124

Essay

Define utility,and describe how each type of utility impacts the marketing process.

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Definitions:

Substantially Performs

Refers to a party's fulfillment of their core contractual obligations, even if minor specifics are not completed to the letter.

Specific Performance

A legal remedy requiring a party to fulfill their obligations under a contract, rather than paying damages for breach.

Sale of Land

The process of transferring ownership of a parcel of land from one party to another through a legal sale agreement.

Impossibility

A doctrine under which a party to a contract is relieved of his or her duty to perform when that performance has become impossible because of the occurrence of an event unforeseen at the time of contracting.