Five economic utilities

Five economic utilities

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  • Shoe Store
  • Fabric Store
  • I'm going to need fabric, shoe laces, and shoe soles
  • ok
  • The five economic utilities Devin Drebych
  • Shoe Store
  • Open
  • Form Utility- changing raw materials or putting parts together to make them more useful Example- Putting shoe laces, fabric, shoe soles, and rubber to make shoes
  • The shoes cost $49.99
  • ok
  • Place Utility- having a product where customers can buy it  Example- being able to buy shoes in a store in the mall
  • Buy One Get  One Free!!
  • New Shoe Styles!!!
  • Time utility- having a product available at a certain time of year or time of day  Example-  Shoe store is open 9-5 everyday and can be bought online 
  • Possession Utility- the exchange of a product for some monetary value Example- The shoes can be paid for in cash, check, debit, or credit  
  • Information Utility- communication with the customer about about your product or service  Example- Advertisements, tags on the shoes 
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