Which term refers to the usefulness provided to the customer by a product?

Utility is the term that refers to the usefulness provided to the customer by a product. In economics and logistics, utility encompasses the total satisfaction or benefit that a consumer derives from a product or service. This concept highlights how well a product meets the needs and wants of the customer, which is fundamental in determining demand and how products are marketed.

In contrast, value addition typically refers to the enhancements or features added to a product that increase its overall worth but does not directly indicate the usefulness. Service level relates more to the performance with which a service is delivered, including aspects like timeliness and reliability, rather than the intrinsic usefulness of the product itself. Consumer satisfaction measures the overall contentment a customer feels towards a product or service after consumption, which can be influenced by utility but is a broader concept that encompasses emotional and experiential factors.