Explain How Marketing Creates Utility and the Different Types of Utility

question 124

Essay

Explain how marketing creates utility and the different types of utility created.Illustrate using the example of an ice cream vendor at Bondi Beach.

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Definitions:

Personality Trait

A characteristic way in which an individual perceives, interacts with, and responds emotionally to the environment.

Chronic Happiness

A state of long-term contentment and well-being that persists over time regardless of circumstances.

Well-Being

A comprehensive measure of overall health and happiness, encompassing physical, mental, and emotional aspects of an individual's life.

Negative Feelings

This term encompasses a range of emotions such as sadness, anger, and fear, which are often unpleasant and associated with negative thoughts and experiences.