Business Utilities

•What is “utility”?•Economic term that means…

“added value”

The Marketing Functions “add

value” or “utility” to a

product

5 Business Utilities

•Form Utility (Production)

•Place Utility (Marketing)

•Time Utility (Marketing)

•Information Utility (Marketing)

•Possession Utility (Marketing)

Form Utility

Adding value to raw materials by creating (forming) a product

Place Utility

Adding value by offering product WHERE customers can get it

Time Utility

Adding value by offering product WHEN people need it

Information Utility

Adding value by informing people about the product

Possession Utility

Adding value by offering ways to PURCHASE the product

How do you use form utility?

How do you use place utility?

How do you use time utility?

How do you use information utility?

How do you use possession utility?