place utility

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Term: Place Utility

Definition:

Place utility refers to the value or usefulness that a consumer derives from the location or accessibility of a product or service.

Senses:

Noun: The value of a product or service based on its convenient location or accessibility.
Noun: The ability of a physical setting or area to attract and serve consumers effectively.

Sample Sentences:

The place utility of this grocery store is high due to its close proximity to residential areas.
The shopping mall's success can be attributed to its strategic place utility, drawing customers from the surrounding neighborhoods.

Related Products:

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