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Home→The Westburn Dictionary of Marketing→T→time utility

time utility

Definition:
The utility created by the availability of a good or service at the time it is required for consumption. It may be measured in terms of the price premium which the consumer is prepared to pay for such instant availability and will have a significant impact on the producer/distributor's willingness to hold an inventory of physical goods and the service organization's willingness to install sufficient capacity to meet peak demands.

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© Westburn Publishers Ltd 2002, The Westburn Dictionary of Marketing edited by Michael J Baker, ISBN 978-0-946433-01-8. www.themarketingdictionary.com. Entry: [Michael J. Baker],.