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- Economic Utility
- High quality, affordable basketballs at your local play store
- Form Utiltiy
- These basketballs will be made with rubber, leather, composite, and polyester in this factory.
- Place Utility
- After the basketballs are made, they go on a train and ship to play stores near you.
- Economic Utility refers to satisfying the wants and needs of the consumer.
- Time Utility
- Changing raw materials into goods or putting parts together to make them more useful. The manufacturing of products involves taking things of little value by themselves and putting them together to create more value.
- Information Utility
- We will be communicating to our customers through the labels on the box with the basketballs
- Having a product where customers can buy it. Businesses study consumer shopping habits to determine the most convenient and efficient locations to sell products.
- Possession Utility
- We will accept any form of payment
- Having a product or service available at a certain time of year or a convenient time of day. For example, some banks are open seven days a week with extended hours for drive-through operations.
- We will be selling year-round because you can either play basketball indoors or outdoors.
- Involves communication with the consumer. Salespeople provide information to customers by explaining the features and benefits of products.
- The exchange for money is possession Utility. Retailers may accept alternatives to cash, such as personal checks or debit cards, in exchange for their merchandise.
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