The Five Economic Utilities

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Presentation transcript:

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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