Marketing Concept Related to Creation
The main proponent of this important concept of marketing is Richard Vuskirk. According to the presented concept, marketing includes all those activities which are engaged in generating the utility of space, time and ownership. Place utility arises when goods and services are located where they are needed, time utility when they are needed and ownership utility when they are transferred to those who need them.
This above idea was given by Dr. C. B. Presented by Memoria (Dr. CB Mamoria). They say that marketing activities make goods and services more useful when they are demanded and sent to people and places who want them. Therefore, it can be said that marketing activities not only establish equilibrium between demand and supply but also create utility. Marketing significantly increases the value of goods and services through changes in time, place, form and ownership.
Marketing and Forms Utility
Any commodity can be useful to the consumer only when it is transformed in such a way that it can satisfy the needs more and more effectively. For example, its usefulness can be increased by converting cotton in the form of thread or cloth, wood as furniture, sugarcane in the form of jaggery or sugar. For this purpose marketing, production, planning and development are resorted to.
Marketing and Place Utility
Place utility refers to that initiative of development of utility which arises from the change of place in a commodity, that is, the utility of the commodity will be more at the place where the consumer wants, and not where the producer. It is natural that where there is excess of the commodity, the utility of the commodity will also be less. Therefore, by sending the goods to a place where their demand is high, the price is obtained more. That’s more value space utility. In transferring goods from one place to another, wholesalers and retailers, etc., especially take care that where there is a good demand for goods, that is, goods are sent to such a place where more profit can be obtained, this benefit increases utility. Depends only on.
Marketing and Time Utility
To make the commodity available to the consumers at the right time is to increase its utility. There are many goods which are produced in large quantities in a particular season but there is a demand for their production in a particular season. In such a situation, it becomes necessary to store the goods so that those goods can be supplied even at a time when that commodity is not produced. Therefore, collection is that process of marketing, which transfers goods from time to time and increases their utility. For example, wheat is grown in a particular season, summer, but its demand is throughout the year. Therefore, for its supply to be maintained throughout the year, it is necessary that more wheat
be kept safe. Due to this security expenditure, the price of wheat increases in other seasons. Some things are such that their usefulness increases with the passage of time; For example, rice, wine etc.
Marketing and Right Utility
The creation of a right utility is accomplished by the act of exchange, i.e. giving from one person to another is exchange or providing the right of consumption on a commodity so that he can make effective use of it, right is utility. The definition of marketing in legal form was given in this way – “Marketing includes all those activities which are related to the transfer of ownership and rights of goods and services”. If a pen is given to an illiterate person, then the pen is of no use to him and if the same pen is given to a writer, it will be more useful to him. This transfer is called right utility. This transfer includes all activities of marketing; For example, producer to wholesaler, wholesaler to retailer, retailer to consumer etc.
Thus it is clear that marketing activities are closely related to the form, place, time and ownership (right) utility of the commodity. That is why in the above definition marketing has been called the creation of these utilities.