Final answer:
A store selling home medical equipment can add possession utility by offering convenient delivery and setup to customers. Possession utility increases the desirability of a product by making it more useful and accessible, such as through value-added services like warranties and service contracts.
"The correct option is approximately option A"
Step-by-step explanation:
One way a store selling home medical equipment might add possession utility is to provide convenient delivery and setup to customers. This utility is associated with increasing the value of a product or service by making it more useful or accessible to consumers, which in this case, includes the delivery and setup services.
These services ensure that the customer has full and easy access to the product's use without the need to worry about transportation and installation, thus enhancing the overall value proposition of the product.
The concept of possession utility is part of the broader marketing and economic understanding of how businesses can add value to their products and services. For instance, physical aspects of a product such as a 'nonstick surface' or 'freezer-to-microwave' capability can add form utility by making the product more desirable. Similarly, location can play a role in adding place utility, like a gas station conveniently located at a busy intersection. Moreover, sellers can add value through warranties or service contracts, which promise to fix or replace the product within a certain time period, providing an extra sense of security and trust for the customer.