5 utilities

5 utilities

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  • Form Utility
  • Place Utility
  • Time Utility
  • Possession Utility
  • Information Utility
  • Chipotle
  • 5 Economic Utilities By Ally Clarke
  • Form Utility: Changing raw materials or parts together to make them more useful. Example: tortilla, beans, chicken, steak, lettuce, rice, and guacamole combined to create a burrito. 
  • Place Utility: Having a product where customers can buy it Example: Chipotle Stores, Postmates, Uber Eats
  • Buy Chipotle burritos
  • Time Utility- having a product available at a certain time of year or convenient time of day Example: Food available all year from 11 am -10pm for lunch and dinner
  • Possession Utility- exchange of a product for some monetary value Example: Accepting cash, credit, and debit
  • Information Utility- communication with the consumer about your product or service Example: commericals promoting new products, billboards, ads
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