How a necklace uses the five utilities of marketing
I want to make a necklace
Here would be a good place to sell the necklaces
The Five Economic Utilites
Maybe I should sell them half off during the holidays.
Form Utility: Changing raw materials or putting parts together to make them more useful;Not directly related to marketing Examples: silver, clasp, beads make a necklace
Customers should be able to buy these necklaces with Credit cards, or money
Place Utility: Having a product where customers can buy it;Most convenient/efficient.Examples: Jewelry Stores, magazines, and the internet are all places you can find necklaces.
Maybe I should do a commercial to let people know about my necklaces
Time Utility: Having a product available at a certain time of year or convenient time of dayExamples: Necklaces are sold for a lower price during the holidays like Mother's Day or Valentine's Day. Also the hours that stores sell necklaces is 8am-10pm.
Possession Utility: The exchange of a product for some monetary valueExamples: You can buy necklaces with a credit/debit card or money.
Communication with the consumer about you product or service; Making people a ware your service or product existsExamples: Commercials advertisements and etc.