We think you have liked this presentation. If you wish to download it, please recommend it to your friends in any social system. Share buttons are a little bit lower. Thank you!
Presentation is loading. Please wait.
Published byMaxim Pounds
Modified over 4 years ago
Chapter 1, Section 1.2 Marketing PrinciplesEconomic Utilities Chapter 1, Section 1.2 Marketing Principles
New & Improved ProductsMarketing generates competition, which in turn fosters new & improved products Example: Computers have gotten smaller, lighter, more powerful, & less expensive
Lower Prices Demand increasesManufactures can produce in larger quantities Which lowers price Fixed cost will not increase Demand increase competition increase which lowers price
What is Utility? The attributes of a product or service that make it capable of satisfying consumers’ wants and needs. Utility adds VALUE to a product The functions of marketing add value.
5 Economic Utilities Form Utility Place Utility Time UtilityPossession 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 Customer Credit (Net 30)
Information Utility Communication with the consumer SalespeopleDisplays Packaging and Labeling Advertising
Can You…….. Name the 5 economic utilities and how they add value to products??
Marketing Is All Around Us What You’ll Learn . . .
THE ECONOMIC BENEFITS OF MARKETING
Introduction To Marketing
The Five Economic Utilities
Marketing is All Around Us
Chapter 1.2. Increased production capacity Increased buying power of consumers Need for coordinating production and consumption ¼ to 1/3 of all.
Chapter 1 marketing is all around us Section 1.1
Ch. 1 Marketing is All Around Us
Objectives: 1.Explain the concept of utility. 2.Cite examples of types of utilities. Warm Up: Complete the handout Agenda: 1.Warm Up 2.Product design level.
This morning on CNN Apple Inc spent years developing its iconic iPhone, but Samsung took a shortcut by copying its rival's designs after realizing it could.
Marketing and the Marketing Concept 1.1
Economic Goods, Services & Utility
Marketing Is All Around Us
The Importance of Marketing
Economic Resources Marketing Dynamics – Unit 3 Lesson 1 Copyright © Texas Education Agency, All rights reserved.
Unit 10 Economic Benefits of Marketing. New and improved products Creates competition Larger variety of products and services Lower prices Increase.
Unit 1 The World of Marketing
The Importance of Marketing Chapter 1, Section 1.2.
Utility & Buying Motives
© 2019 SlidePlayer.com Inc. All rights reserved.