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- Grocery Store
- Today I'll be showing you examples of the 5 economic utilites!
- Grocery Store
- I hope they have the coffee beans and creamer I'm looking for here.
- Law Firm
- Ahhh .... just what I needed ... A COFFEE SHOP!
- Sam's Coffee Shop
- The Five Economic UtilitiesBy: Linda Davila
- I love that you guys sell coffee all day. It's jujst what I need as a pick me up in the middle of the day.
- Me too! It's helpful when I need help waking up in the morning.
- Form Utility is the changing of raw materials into a product so it can be useful.Examples: Coffee beans, coffee creamer, sugar, and hot water are the raw materials for making coffee.
- You definetly should, it's the best!
- TRY OUR NEW COFFEE FLAVOR ... PUMPKIN SPICE!
- I can't wait to try your new flavor of coffee!
- Place Utility is having a product accessible in a convenient location for a potential consumer to buy it.Examples: Starbucks, Dunkin, shopping centers, and restaurants
- Yes
- TRY OUR NEW COFFEE FLAVOR ... PUMPKIN SPICE!
- Do you accept credit cards?
- Time Utility is having the product available at a certain time of the day or a certain season every year.Examples: Having certain types of flavors of coffee being sold during the months that they would make sense in like pumpkin spice during the fall. Or having premade coffee accessible during store hours for busy people, or selling coffee in the morning and night for people who need an energy boost.
- Information utility is the communication between a producer and consumer about a product or service to make sure they know the product or serviced to make sure the consumer knows about its existence.Examples: Salespeople, displays of new products, and commercials for the new products
- Possession utility is the exchange of a product for a monetary value. Examples: being able to pay for coffee with cash, debit or credit cards, or checks.
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