Marketing

Updated: 10/7/2021
Marketing

Storyboard Text

  • Economic Utilities
  • A common product you see in stores is cans of pop; Coke, Pepsi, Sprite, etc. It's a very common American product. 
  • Form Utility
  • The pop cans/bottles are made out of aluminum foil and plastic, and molded into a simple shape to put the liquid in.
  • Place Utility
  • The pop is then transported in trucks to different stores, from gas stations like 7-eleven to supermarkets like Meijer at a convenient place for customers to buy.
  • Time Utility
  • The functions of marketing add value to a product by making it more useful. This added value is called utility. Utilities help the product better satisfy the customer's wants and needs.
  • Pop is typically sold all-year round for the best sales. Humans obviously need to drink something every day, so pop is sold every day.
  • Information Utility
  • Form utility is changing raw materials or putting parts together to make an object/item more useful to a consumer.
  • Pop products get tons of promotion. You might see a Coca-Cola commercial on your TV while watching, or maybe just a billboard for Pepsi. There's many different ways to advertise.
  • Possession Utility
  • Place utility is all about having your product be at a convenient location where people will be more likely to buy it.
  • The pop is finally bought by a consumer. They checkout the pop at a cash register, and the money makes its way back to the company that sells it.
  • Time utility requires you to have a product available at a time of day, or year, that is convenient for customers and most likely to get the most sales of your product.
  • Information utility is the strategy of providing information to the customer so they better understand the product your selling. Promoting the product.
  • Possession utility is the exchange of your product for currency/monetary value. You get money, the consumer gets your product.