Jeffrey Osborne Storyboard

Jeffrey Osborne Storyboard
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  • Hello, I'll teaching you about the five economic utilities  
  • I want to make a cake for my aunts birthday.  
  • I need to find things to make a cake with.
  • The five economic utilities are Form, Place, Time, Possession, and Information 
  • I need to find where the ingredients are sold around this time.
  • Form Utility: Changing raw materials or putting parts together to make them more useful  Example: Eggs, Flour, Butter, Sugar, Baking Powder, Vanilla Frosting 
  • I need money so i can buy the cake ingredients.
  • Place Utility: Having a product where customers can buy it For example, putting the ingredients on the shelves at the stores 
  • I got the ingredients for my aunts cake and made one for her birthday.
  • Time Utility: Having a product available at a certain time of year or a convenient time of day. Example, The ingredients to make a cake is available to everyone all year around   
  • Possession Utility: The exchange of a product for some monetary value Examples: cash, credit card, and check  
  • Information Utility: Communication with the consumer about your product or service Examples: Salespeople and Displays
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