Final answer:
The term 'form utility' refers to the value businesses add to products to make them more desirable or suitable for consumers' needs, encompassing attributes like durability and convenience.
Step-by-step explanation:
The availability of a product processed, prepared, in proper condition, and/or ready to use is referred to as form utility. Form utility is the value added to products by a company when it makes a product more appealing, more convenient, or simply a better fit for consumer needs and preferences. This includes aspects such as an unbreakable bottle, nonstick surface, or a product being freezer-to-microwave friendly. Additionally, the location of a firm, such as a gas station at a busy intersection or a supplier located near an automobile manufacturer, can enhance the place utility, which relates to how accessible a product is to customers.