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I want to make a cake for my mom's birthday, I hope I have all the ingredients.
In a grocery store, I have all the supplies that I need to maintain.
Form Utility: Changing raw materials or putting parts together to make them more useful- Example: We need eggs, milk, sugar, and butter to make a cake for a birthday
Place Utility: Having a product where customers can buy it.- Grocery Store is an example of Place Utility.
Two Chocolate Chip Cookies, please
Time Utility: Having a product available at a time convenient for customers. Example: A bakery has all the delicious treats you might want conveniently there for you to enjoy.
Definition of Utility
The 5 Economic UtilitiesBy: Sophia Gieleghem
Possession Utility: Exchange of a product for some monetary value. Example: Being able to purchase anything with cash, card, or check.
Information Utility: Providing information so the customers is comfortable buying. Example: The store provided a menu with a variety of choices.