5 Utilities

5 Utilities

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  • Today I'm going to explain the five economic utilities.
  • It's amazing all these phones were made here.
  • I wanna buy this phone!
  • 5 Economic Utilities By Danielle Mathew
  • I'm so glad I was able to get this phone today!
  • Form Utility: changing raw material/putting parts together to make them more useful Example: changing tiny tech pieces into a phone.
  • Place Utility: having a product where customers can buy it Example: The phone can be available in store or online.
  •  What new features should we add to our next phone? --------------------- 
  • Time Utility: having a product available at a certain time Example: Having a phone available all year long during store hours. 
  • Possession Utility: the exchange of a product for some monetary value Example: To buy a phone you can use cash, credit car, debit card, or a layaway
  • Information Utility: communication with consumer about your product or service exists Example: Have a survey on what new features the next new phone should have
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