Knowledge Utility:
1. Knowledge utility arises when a person acquires knowledge regarding a product.
2. Use of mobile, computer, etc. creates knowledge utility.
3. In this case, a consumer is interested to know various functions of product.
4. Knowledge utility increases due to utilisation.
Possession Utility:
1. Possession utility arises when the ownership of a product is transferred from one person to another.
2. Sale and purchase of goods creates possession utility.
3. In this case, a consumer is interested to satisfy his wants.
4. Possession utility increases due to demand.
