Utility

You may think that a product which offers 'utility' in the economic sense must be practical, efficient and useful. Not at all. A product offers 'utility' if it somehow satisfies a human want, such that people choose that product. Utility is thus a synonym for Value, in an Economic sense. Utility (and value) are very tied up with the notion of choice (or preference), as that is how they are measured. A good (or service) offers 'utility' (value) if you would choose it over another thing. Two offerings are of equal value if you are indifferent to them (i.e. if you expect you would be equally happy to receive either one). If your marketing efforts make people more likely to choose your product, then you have increased its utility (without writing a line of code).

← uISV UX → ↑ Glossary

 

 

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