Today I will: analyze the benefits of Marketing So I can: understand and apply the concept of Utility I know I am successful when: I am able to identify the added value of specific products and see the importance of marketing on society. Text Book needed today Get out note paper prior to reading Read Pages As you read, write down something about the reading any words that you don’t understand Questions you have A quick thought (“tweet”) about what you’ve read

competition Provides the means for competition to take place Global Force Raises standard of living

Brainstorm at least one common use of the word UTILITY  You have a maximum of two minutes.  Write them down.  Share out elbow partner activity

Utility – attributes of a product or service that make it capable of satisfying customer wants and needs. (5 types of utility) Form – changes in raw materials or putting parts together to make them more useful Place – having a product where customers can buy it Time – having a product available at a certain time of year or day Possession – exchange of a product for money Information – communication to the consumer about the product – from the Latin “to use”

New or improved Products Lower Prices Two main benefits Product / Service ManagementIncreased demand Fixed costs ÷ increased # of units Utility enhanced

Work with your table group to produce a 24” x 24” poster 1 – Define Utility and the 5 Utility types. Title your poster “Utility” 2 – Include examples (written or image) for each definition. 3 – Create an artistic theme to hold it all together 4 – Must be able to read from across the room 5 – Must have names on front in lower right corner 6 – Compete for: A) Best in class B) Best of all Marketing classes – “Wall of Fame” Assignment is worth 20 in-class points. Graded as follows: Full effort by you as an individual team member? Yes = Qualify for team points. No = 0 on assignment Information fully complete and accurate = 5 points Acceptable team effort and finished product = 10 points Team 30-second “sales pitch” = 0-5 points. Due Wednesday, 30 minutes after class begins. Note: if you are absent, complete this on your own on 8 ½ x 11.