Today we're learning about the 5 economic utilities!
This is where makeup is made in the factory!
I drove here to buy makeup.
The 5 Economic UtilitiesKatie McLaughlin
I need makeup for my school dance
Form utility: changing raw materials or putting parts together to make them more usefulEx. pigments, plastic (for lipstick tube), lipstick base
Place utility: the place where a person can buy the productEx. drug store, mall, Sephora, MAC store
Must buy!Best lipstick on the market!MAC Cosmetics
Time utility: having the product available at a certain time of year or time of dayEx. school year, prom season
Possession utility: the exchange of a product for some monetary valueEx. dollar bills, coins, credit/debit card, gift card
Information utility: communication with the consumer about your product or service. Making people aware your product or service exists.Ex. commercials, ads, posters, fliers, pop-ups