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UTILITY AND ITS TYPES

For Example

When a Lumber (wooden Log) is converted into furniture , form utility is created . This is the production, not the marketing. Marketing contributes to decisions on the style, size, and color of the furniture.

When the person buys the plot in installment the plot is given to it but actually ownership is fully transferred when the full payment was given.

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Places

Formation

Chair

Departmental Store

TYPES OF UTILITY

Log

Warehouse

WHAT IS UTILITY?

Conversion

Any Product that satisfied customers needs and wants is called utility.

  • Form Utility
  • Place Utility
  • Time Utility
  • Information Utility
  • Image Utility
  • Possession Utility

meeting and sharing information

Place Utility

Availability of food in time is an example of time utility

Information is through advertising

place utility exists when a product is readily accessible to potential customers.

Form Utility

Form Utility is associated with the Production , that’s make the product more valuable.

For Example

Stores make it easier for the consumers to purchase items, as opposed to driving to a factory or warehouse where the products are manufactured or stored.

Possession Utility

Image Utility

Possession Utility is created when a customer buys the product that is, ownership is transferred to the buyer.

Information Utility

THANK YOU!

Time Utility

Information about the product and how that gets out to the public.

It is the special type of information utility. It is the emotional or psychological value that a person attaches to a product because of its reputation or social standing.

For Example

Time utility means having a product available when you want it.

Presented By :

M. Soban Khan

For Example

Some people pay more for a "Shirt" to be more effective than others.

when the customer is going to buy something and the product is available is available for him/her then time utility is created.

If company advertised the product and the customers knows that the product is available and transforms it to the others . Information utility is created .

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