Economic Utilities

Economic Utilities

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  • Car Dealership
  • I think I am going to buy a car today
  • Sure.
  • Can I lease a car please?
  • Economic Utilities By: Lauren Guyette
  • This is the car that I want to take for a test drive.
  • Form Utility Definition: Changing raw materials or putting parts together to make them more useful Example: In order to build a car, you need to put together the engine, tires, wheel, seats, pedal, and more
  • Place Utility Definition: Having a product where customers can buy it Example: You can be able to buy the car online, from a catalog, or in the dealership.
  • It's a deal. I'll buy the car
  • Car Dealership
  • Time Utility Definition: Having a product available at a certain time of the year or a convenient time  of the day Example: Cars are available all year long because people are always buying new cars
  • Possession Utility Definition: The exchange of a product for some monetary value Example: Can buy a car by using cash, credit, debit, check, or down payment,
  • Information Utility Definition: Communications with the consumer about your product of service Example: There can be commercials for certain cars and dealership companies.  There can also be signs, ads, and billboards.
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