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55 | Marketing Fundamentals
Markets work without marketing, but customers have to be able to find what they are looking for. Effective marketing can help with that.
In the field of behavioral economics we often come across the term utility. In this context, utility refers to the perceived value (i.e. usefulness) an individual receives when they purchase a good or service.
In the field of behavioral economics we often come across the term utility. In this context, utility refers to the perceived value (i.e. usefulness) an individual receives when they purchase a good or service.