The Five Economic Utilities. 5 Economic Utilities Form Utility Place Utility Time Utility Possession...
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The Five Economic Utilities
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Transcript of The Five Economic Utilities. 5 Economic Utilities Form Utility Place Utility Time Utility Possession...
Form UtilityChanging raw materials or putting parts
together to make them more usefulNot directly related to marketingExample:
ChainWheelsHandlebarsGears
What do these parts make??
Place UtilityHaving a product where customers can buy
it.Most convenientMost efficientCatalogs, retails stores, internet
Time UtilityHaving a product available at a certain time
of year or a convenient time of day.
Give me some examples!
Possession UtilityThe exchange of a product for some
monetary value.CashCredit/Debit CardsChecksLayaway
Information UtilityCommunication with the consumerSalespeopleDisplaysPackaging and LabelingAdvertising