Possession utility: once you have purchased the product, you have rights to use the product as intended, or (in theory) for any use you would like.
A fifth type of utility is often defined along with the above four types: ...
the value given to a product by virtue of the fact that the purchaser has the legal right to own and ... more ...
Economic Utility - the ability of a good or service to satisfy a customer's needs or wants; the five kinds of economic utility are form utility, time utility, place utility, information utility and possession utility.
(Not to be confused with Selective exposure: Providing several different choices where the customer can obtain possession utility. Often marketers select selective channel members based on their ability to push the product to the next channel member through its own sales force.) ...
Possession utility involves the idea that the consumer can go to one store and obtain a large assortment of goods from different manufacturers during one shopping occasion. Supermarkets combine food and other household items from a number of different suppliers in one place.
See also: Research, Management, Consumer, Place, Product