The 5 Economic Utilities

The 5 Economic Utilities

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Intro 10

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  • Let's bake!
  • These cookies look delicious!
  • The 5 Economic Utilities By: Avery Simpson
  • Form Utility- changing raw materials/putting parts together Examples- eggs, butter, flour, sugar, vanilla
  • Place Utility-  having a product where customers can buy it Examples- in a grocery store, a catalog, or ordering it online
  • Buy these!
  • Time Utility- having a product available at a certain time of year and of the day Examples- seasonal cookies (Christmas,Halloween), being sold during lunch and dinner hours 
  • Possession Utility- the exchange of a product for some monetary value Examples- credit, debit, cash, and checks
  • Information Utility- communication with the consumer about your product or service Examples- commercials, advertisements, surveys, and tags
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