5 Components of Marketing

5 Components of Marketing
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  • Today your virtual tour guide is going to teach you all about the 5 economic utilities!
  • I hope I remember all the components that come in this beautiful shirt
  • It is so convenient to have  a place to buy my shirts so close to me! I love to shop for new clothes!
  •  The 5 Economic Utilities! By : Joseph Spicuzzo
  • I wonder if I should get a long sleeve shirt because it's closer to winter? 
  • Form Utility : Changing raw materials or putting parts together to make them useful. Examples : Cotton + Polyester + Dyes --> Shirt
  • Being able to purchase my shirt with my card is so convenient when I don't have enough money!
  • Place Utility : Having a product in a particular place convenient for a customer to purchase. Examples : Mall, Online Websites, and Department Stores 
  • I can tell based on the packaging that this is a quality shirt made with quality components! Thanks for coming on my shopping experience with me!
  • Time Utility : Having a product available at a certain time of year or a convenient time of day. Examples : Long Sleeve = Winter ; Short Sleeve = Summer
  • Possession Utility : The exchange of a product for some monetary value. Example : The ability to buy the shirt with cash, card & check
  • Information Utility : Communication with the consumer about your product or service. Example : Advertisements about the shirt and the packaging itself
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