Business Provides Utility
    •One of the major tasks of business is to 
     provide Utility.
    •Utility (in business) defines the 
     characteristics of a product that satisfies 
     human wants and needs. 
    •When businesses Add Utility they Add 
     Value.
    •Adding Value – enhancing a feature or 
     service to inspire a customer purchase. 
             Form Utility
     •Form Utility is added when a business 
     changes the form of something to make it 
     more useful. 
      •This is the main job of the production 
      function in business.
     •For example, an auto manufacturer… How 
     So?
     • turns steel, plastic, fabric and glass into 
     an automobile.
            Place Utility
    •Place Utility is added when products are 
     available at convenient places.
     •Production/Marketing Function
    •ATM placement… How So?
    •Any other examples?
            Time Utility
    •Time Utility is added when products are 
     made available at the times that 
     customers need and want them.
     •Production/Marketing/Management
    •Examples?
     •Bank Hours
     •Newspaper Delivery
           Information Utility
     •Information Utility is added when 
     marketing provides information about a 
     product to a customer.
      •Telling customers about the product and 
      where to buy them.
      •Marketing Function of Business