The Five Economic Utilities

The Five Economic Utilities

The Five Economic Utilities 5 Economic Utilities Form Utility

Place Utility Time Utility Possession Utility Information Utility

Form Utility Changing raw materials or putting parts together to make them more useful Not directly related to marketing

Example: Chain Wheels Handlebars Gears

What do these parts make?? Place Utility Having a product where customers can buy

it. Most convenient Most efficient Catalogs, retails stores, internet

Time Utility Having a product available at a certain time of year or a convenient time of day.

Give me some examples! Possession Utility The exchange of a product for some

monetary value. Cash Credit/Debit Cards Checks Layaway

Information Utility Communication with the consumer Salespeople Displays

Packaging and Labeling Advertising ACTIVITY ILLUSTRATE THE 5 ECONOMIC

UTILITIES EXAMPLE OF THE FIVE UTILITIES USING ILLUSTRATIONS

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