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the 5 economic utilities

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the 5 economic utilities
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  • Today we are talking about the 5 economic utilities
  • Form Utility
  • I cannot wait for thanksgiving so i can make my favorite pie
  • Place Utility
  • this pie isnt as good as mine
  • The 5 economic utilitiesMa-Zyah Watson
  • Time Utility
  • Form utility: The change of raw materials into a more useful product Example: pie crust, brown sugar, cinnamon, and sweet potato"s
  • Possession Utility
  • i need fresh pie crust
  • Place Utility: a spot convenient for a customers to buy products Example: Wal-Mart, Target, Sams, Food lion, and bakerys 
  • Information Utility
  • Limited time sweet potato Pie made with fresh sweet potato's
  • Time Utility: having a product convenient at a certain time of day or yearExample: The best time to buy Sweet potato's is in the fall and most stores start selling sweet potato pie in the fall
  • BUT......BUT...but sweet potato's are only good once a year
  • Possession Utility; An easier way to buy and own an productExample: you can buy fresh sweet potato's at food lion using credit/ debit, food ebt, and cash
  • Information Utility; Communication with a customer that in any way encourages them to buy the product Example: The neighborhood bakery sent flyers to all the locals about the new sweet potato pie special
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