| Term | Definition |
| Utility | The added value of a product |
| Form Utility | Adding value to products by changing raw materials or putting parts together to make them more useful |
| Place Utility | Adding value to products by having the product where customers can buy it |
| Time Utility | Adding value to products by making them available during certain times of the year |
| Possession Utility | Adding value to products by allowing exchange of a product for some monetary value |
| Information Utility | Adding value to products by involving communications with consumers |