Economic Utilities of Marketing Quiz

In marketing, the term utility refers to:

• Household bills like electricity or water

• Added value and benefits a customer receives from a product

• The price a company sets for a product

• The taxes a consumer pays

Which of the following is NOT one of the types of utility?

• Form

• Time

• Distribution

• Possession

Match each type of utility with its correct example.

• Making products available where they are needed

• Task utility

• Providing a service such as car repair

• Possession utility

• Allowing customers to buy products through credit

• Place utility

• Turning raw materials into usable goods

• Form utility

Which company uses multiple ice cream flavors to create value?

• Baskin Robbins

• McDonalds

• Uber Eats

• Walmart

Providing services like Uber rides or food delivery is an example of (a)   .

• Time utility
• Task utility
• Form utility
• Information utility

Making a product available in multiple convenient locations represents:

• Place utility

• Task utility

• Possession utility

• Time utility

Which of the following illustrates place utility?

• McDonalds’ all-day breakfast

• Apple selling products through Best Buy and Target

• FDA requiring nutrition labels

• Walmart offering layaway programs

Time utility is best shown by:

• Selling Halloween candy before October 31st

• Placing products in multiple stores

• Adding different flavors to ice cream

• Offering financing for big purchases

McDonalds’ “All Day Breakfast” is an example of:

• Task utility

• Possession utility

• Time utility

• Form utility

Possession utility is created when companies:

• Provide information about allergens

• Offer financing or layaway options

• Add more product features

• Extend store hours