5 Components of Marketing

5 Components of Marketing

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  • 5 Economic Utilities By: Kassidy Nugent
  • Form Utility- taking raw materials and putting them together to make a more useful product. You use pumpkin puree, condensed milk, pie crust, eggs and cinnamon to make pumpkin pie.
  • Place Utility- where customers can buy your product. You can buy pumpkin pies at food stores, bakeries, and farmers markets.
  • Time Utility- having your product available at a certain time of day or year. You can buy pumpkin pies at stores that are open from 8 to 11. You can also buy pumpkin pies in winter and fall, when they're most popular.
  • Possession Utility- the exchange of a product for monetary value. You can buy pumpkin pies with cash, credit, debit, checks, and giftcards.
  • Information Utility- communication about your product with the consumer, and making people aware of your product. Pumpkin pies are associated with Thanksgiving and the fall  season. You see them in commercials, being advertised in stores, and on ads online.
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