Economic Utilites

Economic Utilites

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  • Economic Utilities By: Lindsay Solomon
  • Form Utility: Changing raw materials or putting parts together to make them more useful Examples: Butter, sugar, vanilla extract, eggs, flour, baking soda, baking powder, and chocolate chips come together to make chocolate chip cookies     
  • I can't wait to make cookies!   
  • Place Utility: Having a product where customers can buy it Examples: Bakery or Supermarket
  • I can't wait to by some cookies
  • Time Utility: Having a product available at a certain time of year or a convenient time of day Examples: Cookies are good to have at any time
  • I enjoy eating cookies at the park
  • Possession Utility: The exchange of a product for some monetary value Examples: Buying cookies
  • No problem 
  • Thanks for selling me these cookies.
  • Information Utility: Communication with the consumer about your product or service Examples: A menu should have all the ingredients on it 
  • It's great that I know all the ingredients in the cookies 
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