What Is Time Utility?


Author: Lisa
Published: 2 Aug 2022

Time Utility: A Conceptual Framework for Marketing

The concept of Time Utility is that marketing should be about giving customers products or services at the right time, regardless of other variables. Many companies educate their employees about the customer purchase behavior and needs of consumers which create a utility function. There are four types of utilities. The time utility is dependent on the aspect of time and when it is needed.

Economic Utility

The four types of economic utility are form, time, place, and possession, and they all refer to the usefulness or value of a product. The economic utilities help identify the drivers behind consumer purchase decisions. Companies strive to increase the utility or perceived value of their products and services to enhance customer satisfaction, increase sales, and drive earnings.

The concept of economic utility is studied in the area of behavioral economics. It is designed to help companies in marketing their business in a way that will likely bring in the most customers and sales revenue. Form utility is how well a product or service meets the needs of the customer.

A company might design a product to target a specific client. The features and benefits of the products being offered by the company are incorporated into the form utility. Time utility is when a company maximizes the availability of a product so that customers can buy it at the most convenient times.

Companies analyze how to maximize their time utility and adjust their production process. Goods or services are made physically available or accessible to potential customers. A retail store's location, how easy it is to find a website or service on the internet, and other examples of place utility are all examples.

Companies that have effective search engine strategies can improve their place utility. The process of increasing a website's availability to internet users through their searches on the web is called Search Engine Optimisation. The possession utility is the amount of usefulness that a product has.

Creating possession utility for new car keys

Whenever a client gives a new car keys, possession utility can be created. They are free to do whatever they want with the car after that point. Super Cars can make it easier for potential customers to get a new car by offering leasing contracts.

Utility Workers in a Company

Utility is a term that means the total satisfaction received from consuming a good or service. The economic utility of a good or service is important to understand because it directly influences the demand price of that good or service. A utility worker is responsible for the clean up and maintenance of company premises. Managers and maintenance officers give instructions to the workers about the work areas inside and outside of the property.

What is a Consumer's Choice?

Consumers can get what they want where they want it. Utility of place is important for customers looking for familiar items that are easy to get. The ultimate goal of any marketing strategy is to create value. General knowledge can help you implement the five utility types to improve conversion and customer satisfaction.

Marginal Utility in Apples

A consumer who likes apples may find a high utility in apples compared to a consumer who dislikes apples. A person who is strictly vegetarian has no use for chicken or mutton. Storage, storing and preserving certain goods over a period of time may lead to the creation of time utility for such goods, by storing food-grains at the time of a bumper harvest and releasing their stocks for sale at the time of scarcity, traders derive.

At times of scarcity, the utility of a commodity is more. The creation of time utility is what trading involves. The marginal utility is derived from the last unit of consumption.

It refers to the extra utility that is derived from the purchase, acquisition or consumption of a commodity. If a commodity is carried to excess, it may cause dis-satisfaction, which is a negative utility. The utility is not positive.

The 7th unit has a negative marginal utility. The table shows that the Marginal Utility will come to zero if the use of any article increases. There is a close relationship between the two utilities.

The marginal utility goes down as the unit of a commodity increases. The total utility goes up until the marginal utility becomes zero. Total Utility is the maximum when the marginal utility is zero.

Utility: The Economic Utility

The total amount of satisfaction a consumer derives from consuming a product is called economic utility. It can be described as the satisfying power of any commodity. A utility is created by changing its form.

The customer sees the form utility in the finished product. Every company tries to increase its form utility as the finished product is more useful to the consumer than the raw materials used to make it. The physical location of the product increases the attractiveness of it to consumers.

The place utility is more about the availability of the product and the distribution channels. During the rainy season, umbrellas are very important and the demand for them increases. The demand for warm clothes increases during the winter.

When the product is easy to find, the time utility increases. Consumers buy a product for different reasons. The worth of the product is what the price is for.

The utility derived from the product will be the only thing that buyers will be willing to pay more for. The total amount of satisfaction or usefulness that a consumer derives from consuming the good is the economic utility. The economic utility is how the consumer sees a product.

A Video on YouTube About Air Conditioning

The shape of the garment, the range of sizes and the selection of fabric are some of the things that can be considered when applying the form to a clothing item. The marketer's "utility" is that they assemble fabrics together into a garment that you can wear, instead of you making it yourself. If a customer has to drive a long way to find a store that has a low priced air-conditioner, it's not worth having a video on YouTube.

Maximizing the use of time-of a rate

There are many ways to maximize the use of a time-of-use rate. The easiest way to use your appliances is during the hours when electricity is cheapest. Even slight changes to consumption habits can produce savings.

Time Machine on APFS and HFA+ Volumes

Time Machine works with locally connected storage disks that have been formatted in the APFS or HFS+ volume formats. APFS is the default volume format after support for backing up to it was added. Time Machine on the volumes creates hard links to the directories.

Multiple linking of directories is not supported on modern Unix file systems, and can only be done by using a tool like rsync. Time Machine is available in the installation process of the Macintosh computer. The Migration Assistant interface can be used to restore Time Machine backups.

Utility Programs: A System Tool for Disk Management

A utility program is a system application that performs a specific task. Windows, macOS and Linux have their own set of utility programs that they can use to execute and maintain a variety of utility functions. The system utility programs are memory manager, uninstaller, registry checker, package installer, explorer, and more.

Users can execute functions that are crucial for smooth running of an operating system with the help of system utility programs. Users can remove unneeded files with the help of the utility program. The program helps users choose the drives, folders or files that need to be scanned.

The system will be able to increase the storage space and speed by removing unused files. Storage space is one of the biggest concerns of a computer system. The hard disk's storage space gets smaller with time.

Important yet unused files can be compressed, stored and easily extract with the help of compression programs. Disk Management is a program that is very important for the operating system. Users can manage various drives with the help of the utility program.


Marketing makes life easier by making sure people have the product they want. Utility is what makes value. Let's look at the different kinds of utilities created by marketing process. There are four types of utility.

Utility Analysis

The utility is the power of a good or service. It is defined as the property of a good or service to satisfy the consumer's desire. The utility is not objective.

Utility analysis a process of measuring utility after a consumer has consumed a good. It involves looking at factors that affect consumer behavior. Total utility is the sum of the utility derived from different units of a commodity or service consumed over a period of time.

A Survey on Possession Utility

The possession utility is the value of a product that comes with complete ownership and a choice to use it immediately or for any purpose. The customer can start using the product immediately if possession utility is given. Customer can physically assess what they bought with possession utility.

One way to make possession easier is to have multiple payment options. How product is delivered is one of the methods that can be used. It is important for marketers to have possession utility.

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