Time utility exists when a company maximizes the availability of a product so that customers can buy it during the times that are the most convenient or desirable for them. ... For example, a store might open on the weekends if customers typically shop for that product at that time.

What is the utility of time?

Time Utility is providing the consumer his desired goods at the time when he requires them. Depending upon the everyday needs, holiday season or weather conditions, consumer demand will vary. Ensuring that the goods are delivered to the consumers at the right time forms the time utility.

What is time and place utility?

Form utility is created by the design of the product or service itself. Place utility can be obtained through the process of making a good or service more readily available to potential customers. Time utility is created by providing easy availability of a good or service at the time when customers need or want it.