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Recreational equipment, inc., reporting that 35 % of its orders are placed between 10 p.m. and 7 a.m., long after and before retail stores are open for business. Describing how interactive marketing can provide time utility.
Give a brief account on. time utility.
According to the marketing concept of "time utility," businesses should deliver goods and services to clients at the precise moment they need them, regardless of any other factors or variations. Many businesses educate their business, marketing, and advertising staff about consumer demands and purchasing habits, which serves a utility purpose. The four different categories of utilities are form, possession, place, and time. Time and the "when" the product or service is needed determine the utility of time.
When making crucial business decisions, it's crucial to understand what customers want. It will assist the business in determining when to raise inventory and production levels and when to launch significant marketing efforts. Despite this, businesses shouldn't just rely on these techniques to decide because there are numerous other factors that influence consumer demand. The consumer receives his selected items at the precise moment he needs them thanks to Time Utility. Consumer demand may change depending on daily necessities, the festive season, or environmental factors. The provision of timely delivery of the items to the customers constitutes time utility.
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