The 5 Economic Utilities

The 5 Economic Utilities

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  • I need some new sneakers for this school year.
  • I love these new sneakers!!!
  • The 5 Economic Utilities By Ava Williams
  • I've got my new sneakers just in time for track season!
  • Form Utility- changing raw materials or putting parts together to make them more useful Example- fabric, stitching, soles, and laces make up sneakers
  • That will be  $45.
  • I'll pay with cash.
  • Place Utility- having a product where customers can buy it Example- In store, online, in a catalog
  • Wow, those are my new sneakers!
  • Only $45!
  • Time Utility- having a product available at a certain time of year or a convenient time of day Example- Any time of year, available 24 hours online and at some stores
  • Possession Utility- the exchange of a product for some monetary value Example- Cash, Credit, Debit, Check, Layaway
  • Information Utility- communication with the consumer about your product or service Example- Advertisements, Commercials, Billboards
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