The 5 Economic Utilities

The 5 Economic Utilities

Storyboard Text

  • The 5 Economic UtilitiesBy: Amy Oleksy
  • Form Utility: changing raw materials or putting parts together to make them more usefulExamples: Leather, buckles, plastic, vinyl to make a SUITCASE!
  • Place Utility: having a product where customers can buy itExamples: a suitcase can be purchased in store or online
  • Time Utility: having a product available at a certain time of the year or a convient timeExample: it is available year round and can be bought at any time online or in store during thehours and is heavily advertised in summer
  • OH NO! I have to leave tomorrow and I don't have a suitcase...good thing I can buy it with the stores closed.
  • Possession Utility: exchange of a product for some monetary valueExample: a suitcase can be purchased using cash, a debit/credit card, or can be out in layaway to be paid off in small increments.
  • Information Utility: communication with customers about your product or serviceExample: you may see an ad or commercial for a suitcase that tells you all about its many functions
  • This new an improved suitcase is great for all our travel needs and is made of the most durable materials for only $144!
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