Ever wonder what the word "utility" means? Utiliy is the added value in marketing terms. There are 5 types of economic utilities, includeting form, place, time, possession, and information. They are each described below!

Form Utility: Involves changing raw materials into usable goods or putting parts together to make them more useful (see visual to the right!)

Place Utility: Involves having a product where customers can buy it.

Time Utility: Having a product or service available at a certain time of year or a convenient time of day.

Possession Utility: The exchange of a product for money.

Information Utility: Involves communcation witht the consumer.

Lohr, L. (2008). Creating graphics for learning and performance (2nd ed.).  Upper Saddle River, NJ: Pearson Education.