MANAGEMENT

Detailed explanation-1: -Possession utility speaks to the actual act of product possession-such as consumers driving a new car off the lot or having furniture delivered to their home. It also highlights the connection between possession and purpose.

Detailed explanation-2: -the value given to a product by virtue of the fact that the purchaser has the legal right to own and use it freely.

Detailed explanation-3: -For example, a company that offers a two-day delivery guarantee can emphasize this aspect of their business to promote time utility to their customers. Consumers can appreciate this time utility and associate the company with fast service because they know that they can have a product within two days if they need it.

Detailed explanation-4: -There are four basic principles that fall under this umbrella, including form utility, time utility, place utility, and possession utility.