Basic Types of Utilities in Marketing

How do prospective consumers spend their money? What are the most important factors that matter to them before they can choose a cleaning services company over the other? To have all these questions answered, this is where the role of sales and marketing comes in. These two departments are tasked with designing and deploying consumer campaigns aimed at showcasing the unique value proposition of products and services, to help a business stand out from the competition.

Consumer preferences are constantly evolving in response to both internal and external market forces and internal financial constraints. Companies must find ways to understand and articulate their value of service or product offering, in a manner that both captures consumer interests and convinces them to make a conversion. This is where the concept of utility-based marketing becomes increasingly useful.

Utility in Marketing

In a non-economic term, utility means usefulness. From a market-driven perspective, it speaks to the specific value that is realized by consumers when they spend on products and services. Understanding utility in marketing can help companies become better in their spending habits and capture the market more dynamically.

When it comes to marketing, there are different utilities.

Utility of time

This is the ‘when’ component of utility. It answers the question – is your product available when consumers want it? Will it arrive as quickly as possible and without any complications? Consumers want to spend as little time as possible waiting for their products to arrive in stock, and as a result, the utility of time becomes very important.

Utility of place

Place utility refers to the ability of consumers to get what they want, where they want it. It is in most cases applied in brick and mortar stores. It is very paramount especially for customers looking for a familiar item that is easy to obtain. The place offers a competitive edge if companies can showcase their capacity to keep items in stock all the time.

Utility of possession

Possession as utility is focused on the actual product possession. – It includes aspects such as consumers driving a new car off the lot or even having furniture delivered to their home. It also highlights the connection between possession and purpose. When companies can highlight the finished form of complex products such as vehicles and electronic devices, they can potentially reduce purchasing barriers and make it easy for consumers to receive features and products they need.

Utility of Information

Information utility is a new addition to our list. In a world where competition for every basic good now happens on a global scale, information can make the difference between successful sales and failed conversion efforts. Information utility is focused on any data that can help a consumer make buying decisions. It may include product details on eCommerce pages, targeted marketing campaigns as well as well-trained customer support specialists who can help customers with the information they need to facilitate their buying decisions. These five are very important utilities in the world of business.

5 Top Activities to Do at Michigan’s Upper Peninsula

KitchIf you are creating a bucket list focusing on incredible things to do in Michigan’s Upper Peninsula, then this article is precisely for you. Michigan has incredible places for exploration especially if you love adventure.  From hidden lakes, coursing waterfalls, scenic drives and small towns- full of lively people-that bring up the pure Michigan fun. Upper Peninsula is however quite wide and it can take you more than a day to drive from one corner to the other. So, if you are a vacation to Michigan, below are a few highlights to make your stay there worthwhile.

Visit The Mackinac Island

Mackinac Island is a dream destination for most travelers who love history and architecture. Throughout your stay at the island, you will not only experience the community’s history at the museums, but also get a chance to explore the natural beauty of the Mackinac Island’s parks, taste their diverse cuisines and enjoy the Island’s nightlife. There are also a myriad of boating tours, kayaking, golfing and horse riding. You should however bear in mind that, driving on the island is not allowed; but worry not, there are hundreds of bikes to rent including the Fat Tire Bikes

Climb a light house

Michigan has a total of 40 lighthouses standing guard over the stretching waters. Among the popular light houses is the square shaped Peninsula Point tower which mostly attracts butterfly watchers during the fall. You can also climb the 72 stepped Point Iroquois Lighthouse that leads to the lantern deck and the wooden walkaway to the beach.

Hike and take nature trails

If you are an outdoor and nature lover, then the many trails in Michigan will leave you yearning for another vacation in the land. The Porcupine Mountains Wilderness State Park is the largest park in Michigan with a total of 90 miles of trails. The nature trails lead to waterfalls, mountain views and rustic campsites. Who wouldn’t adore such scenic beauty?

Take a boat tour

Sightseeing at the comfort of a boat, is incredibly fun. Picture this; cruising through the locks, past fireworks and light houses, beside cliffs and waterfalls and most interestingly a chance to see shipwrecks through glass viewing wells. Isn’t it simply breathtaking?

Go for wader fishing

Michigan is surrounded by water and therefore taking a fishing spree before leaving the city is worthwhile. However, ensure that you get yourself a waterproof and durable camera- because yes, you will need to keep the memories. A decent pair of waders can also come in handy for that fisherman look- even though you might end up catching nothing.

In a nutshell, Michigan is a mix of stunning scenery, classy comforts with plenty of fun activities to do all year round.  Coupled by the diverse cuisines and great local brews, Michigan makes it an ideal destination both in winter and summer. So, forget anything negative you have ever heard about Michigan and take a trip to this ‘coastal dream town’’