Which concept covers providing scheduling options to purchase, like layaway or credit?

Which concept covers providing scheduling options to purchase, like layaway or credit?

• A. Time Utility
• B. Possession Utility
• C. Place Utility
• D. Information Utility

Answer: (B)

This question tests possession utility—the value a marketer adds by making it easier for a customer to own or take possession of a product. Offering scheduling options to purchase, like layaway or credit, helps a buyer obtain ownership even when they can’t pay the full amount upfront. By facilitating the transfer of possession, these options increase the consumer’s ability to possess the item, which is exactly what possession utility measures. Time utility would focus on availability timing, place utility on where a product is available, and information utility on the information that helps a buyer decide, so they don’t fit this scenario as well.

This question tests possession utility—the value a marketer adds by making it easier for a customer to own or take possession of a product. Offering scheduling options to purchase, like layaway or credit, helps a buyer obtain ownership even when they can’t pay the full amount upfront. By facilitating the transfer of possession, these options increase the consumer’s ability to possess the item, which is exactly what possession utility measures. Time utility would focus on availability timing, place utility on where a product is available, and information utility on the information that helps a buyer decide, so they don’t fit this scenario as well.