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The Five Economic Utilities

The Five Economic Utilities. 5 Economic Utilities. Form Utility Place Utility Time Utility Possession Utility Information Utility. Form Utility. Changing raw materials or putting parts together to make them more useful Not directly related to marketing Example: Chain Wheels Handlebars

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The Five Economic Utilities

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  1. The Five Economic Utilities

  2. 5 Economic Utilities • Form Utility • Place Utility • Time Utility • Possession Utility • Information Utility

  3. Form Utility • Changing raw materials or putting parts together to make them more useful • Not directly related to marketing • Example: • Chain • Wheels • Handlebars • Gears What do these parts make??

  4. Place Utility • Having a product where customers can buy it. • Most convenient • Most efficient • Catalogs, retails stores, internet

  5. Time Utility • Having a product available at a certain time of year or a convenient time of day. • Give me some examples!

  6. Possession Utility • The exchange of a product for some monetary value. • Cash • Credit/Debit Cards • Checks • Layaway

  7. Information Utility • Communication with the consumer • Salespeople • Displays • Packaging and Labeling • Advertising

  8. ACTIVITYILLUSTRATE THE 5 ECONOMIC UTILITIES

  9. EXAMPLE OF THE FIVE UTILITIES USING ILLUSTRATIONS

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