ENTREPRENEURSHIP

Detailed explanation-1: -The utility of possession simply means the satisfaction a consumer feels from buying a product or service. For example, you can boost the possession utility by marketing a product”s many uses as a benefit.

Detailed explanation-2: -Possession. Possession utility is the idea that customers can gain value from a product simply by owning it. Once a customer has a product in their possession, they gain value by being able to use it in any way they want.

Detailed explanation-3: -Utility refers to the value or benefit a customer receives from the exchange, according to the University of Delaware. There are four types of utility: form, place, time and possession; together, they help to create customer satisfaction.