Economic Utilities
Storyboard Text
- 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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