What is place utility?

Place utility refers to the added value that a product or service gains from being located at a convenient location for its intended customers. This value is derived from the convenience and accessibility of the location, as well as from the overall desirability of the surrounding environment. Place utility is often used in marketing to create customer interest, increase sales, and improve customer satisfaction by making it easier for them to access products or services. It can be enhanced through various strategies such as locating stores at key points, offering online ordering and delivery, creating attractive store layouts, and having knowledgeable and friendly staff. Ultimately, place utility plays an important role in making a business successful and meeting customer needs.