The 5 Economic Utilities
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Today you will be learning about the 5 economic utilities!
This is where iPhones are made in the factory
I drove here because I needed to buy a new phone
The 5 Economic UtilitiesShannon Toth
I need my phone to look up my locker combination
Form Utility- Putting parts together to put the products on the marketExamples: battery, screen, audio jack, rear camera
I'm paying for my phone using a debit card
Place Utility- The place were the person can buy the productExamples: malls, phone stores,
Time Utility- Having the product available at a certain time of year or time of dayExamples: during school, at night, in the morning
Possession Utility- The exchange of a product for some monetary valueExamples: Cash, credit/debit, checks, installments
Information Utility- Communication with the consumer about your product or service. Making people aware that the product exists. Examples: Advertisements, commercials, posters
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