Bringing Value to Products Economic Utilities

Adding value & utility For products to sell, they have to have VALUE How do we create value?

5 economic utilities Form Utility Place Utility Information Utility Time Utility Possession Utility

Today’s activity Break into groups of 2-3 Each group will be assigned a customer Each group will have to think of a product that will appeal to their customer The product must be unique and you must be able to prove how you added value for the customer (pick at least 3 of the 5 utilities to address) Your group will then create a prototype of the product out of playdough

Customers- choose wisely Parent without kids Parent with kids under the age of 10 Teenage girl Teenage boy Infant girl Infant boy Single mom Single dad Teacher Principal Single male with income over 100,000 Single female with income under 50,000 Newlyweds Senior citizens