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Definition: Utility is in marketing the power of a commodity to satisfy human wants. It is also defined as the ability of a good to satisfy a want. |
Learn more about Utility More on consumer theory: Consumer Decision Journey, Customer Value, 30 Elements Of, Customer Variability, Mental Accounting, Scarcity Marketing, more... You may also like: Full-time MBA, Executive MBA, Executive Education, Online MBA. MBA Brief offers concise, yet precise definitions of concepts, methods and models as taught in a study Master of Business Administration. We like to keep things short, and provide links to learn more about your subject.
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