The Utilities of Marketing

   The performance of marketing activities functions leads to the creation of utilities. The utility of product is the satisfaction which people derive from consuming it. Hence, a product can be described as a bundle of utility. People buy and or consume products because of satisfaction  (utility) try hope to derive from it. The satisfaction to be derived from a product can come from either the physical or non physical facts of the product.

     Generally speaking, we buy a product because of the satisfaction it's urgent or satisfaction will give to us. For example, when we buy a wrist watch, it's physical attributes function to keep accurate time for us. Thus, we derive functional satisfaction from physical attributes of the watch's accurate time keeping. Beside this function satisfaction,  one may also obtain psychological satisfaction from the purchase of the wrist watch. If it is a gold wrist watch , it can enhance one's feeling of importance, selfworth, and social status, In addition to keeping accurate time. I this way, the consumer can gain from the non physical or symbolic attributes of the product. Mercedes Benz cars have been long regarded as a status symbol in Nigeria.

  The utilities created by marketers are of five types. These are form, time, place, information and possession utilities.  Form utility is the satisfaction that one derives from the tangible or physical characteristics of the product he has bought. In creating form for utility, marketers work with production people in order to change the chemical, or physical composition of a material, in terms of shape, taste, style, colour,texture,features, state,and other attributes,  in response to the identified needs of consumers. Water can be chilled or turned into ice blocks, and leather can be shared into hand bags. The different forms in which products exist partly account for the different values people attach to them.
   
Time utility involves making goods and services available at the period when they are needed.  A Sunday newspaper delivered on Monday will not provide as much satisfaction as when it is delivered puntually on Sunday morning.