What is marginal usefulness?

Marginal usefulness is an economic term used to describe another amount of satisfaction that is achieved from the use of more than one unit of goods or services. The idea is that once multiple units are consumed, the user realizes some other type of satisfaction or usefulness from every subsequent use. In some situations, this degree of usefulness will be lower than it enjoys earlier, while at other times good or service is used in a completely different way, leading to satisfaction with this product in a different way.

A classic example of how marginal usefulness works includes the consumption of a glass of water. Assuming that the consumer is thirsty, there is usually a large amount of satisfaction obtained by drinking water contained in the glass. If the consumer decided to drink a second glass of water immediately afterwards, it will probably still be some satisfaction from consumption, but probably the net just like the first glass. SatisfactionObtained from this second glass of water is another or marginal usefulness.

There is a second approach to marginal usefulness that does not include the consumption of the product every time in the same way. For example, the consumer can buy a bed sheet and find out that it is ideal for the bed and is very soft to the touch. After enjoying the sheet for some time, the consumer may notice that the color and texture of the leaf would be ideal for use in creating windows. This will make the consumer to buy the second sheet identical to the first, and by means of a textile it causes to use a rip plate as a window treatment or even cover the cornice board for use. In this case, the limit usefulness can be obtained from the same type of product equal to the first round of consumption rather than a little less.

The actual concept of Marginal Utility is a subjective judgment of the consumer. Whether the second round of use is equally satisfactory, not the oneTo satisfactory or in fact more satisfactory than the first round of consumption, depends on how the consumer perceives the product and his thinking at the time of both periods of consumption. For this reason, there may be different levels of marginal usefulness associated with the consumption of any goods or services. This reality often leads suppliers of different products to constantly look for new ways to launch their product lines as a means to inspire consumers to try new ways of using their products, and hopefully increase this marginal tool in some way.