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Economic Utilities
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Economic Utility
The functions of marketing add value to a product by making it more useful. This added value is called utility.
Form Utility
Changing raw materials or putting parts together to make them more useful is Form Utility.
Place Utility
Having a product where customers can buy it is the basis of Place Utility.
Quality clothes made for any type of person are sold at malls and stores such as DXL, Dick's and Kohl's.
Time Utility
Having a product available at a time convenient for customers is Time Utility.
Colorful fabrics, nylon, and other materials are all used in the creation of clothes.
Information Utility
Providing information so the customer is comfortable buying a product is Information Utility.
A store is sent boxes of clothes and they are to be sold on the racks at this outlet clothes store.
Possession Utility
Possession Utility is an exchange of a product for some monetary value.
Clothes are sold all year round so a customer can buy any clothing articles they desire anytime of the year.
Information about the clothes are provided in the form of advertisements and clothing tags that give description of a product.
Clothes are to be bought with any form of payment the customer has.
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