According to almost all sources, there are four, not six, components of utility marketing. They are:
- The time utility component
- The place utility component
- The possession utility component
- The form utility component
Time utility is about making sure that products are on the shelf at the right time. For example, there’s no use introducing a new range of bikinis during winter.
Place utility refers to where consumers will buy your product. It is far more convenient for a shopper to buy bread and milk at a supermarket on their way home from work than it would be for them to travel to the bakery and dairy at which these goods were produced.
Possession utility is about shoppers having the freedom to do what they like with your product once they have purchased it. If two people buy a table from a furniture store, one may use it as a coffee table while another buyer may wind up using the table as a TV stand.
Form utility refers to the shape in which a customer buys a product. While some stores may sell furniture for which some assembly is required, a customer who buys a television expects to be able to plug it in and watch TV.