1. Bringing Value to Products
Economic Utilities

2. Adding value & utility For products to sell, they have to have VALUE
How do we create value?

3. 5 economic utilities Form Utility Place Utility Information Utility
Time Utility
Possession Utility

4. Today’s activity Break into groups of 2-3
Each group will be assigned a customer
Each group will have to think of a product that will appeal to their customer
The product must be unique and you must be able to prove how you added value for the customer (pick at least 3 of the 5 utilities to address)
Your group will then create a prototype of the product out of playdough

5. Customers- choose wisely
Parent without kids
Parent with kids under the age of 10
Teenage girl
Teenage boy
Infant girl
Infant boy
Single mom
Single dad
Teacher
Principal
Single male with income over 100,000
Single female with income under 50,000
Newlyweds
Senior citizens