282 Chapter 10 Product, Price, and Place Copyright Goodheart-Willcox Co., Inc. Possession Utility Possession utility is the satisfaction that a customer receives from owning a good or receiving a needed service. An example of possession utility is owning a car you have wanted for a long time. Form Utility Form utility increases the desirability of a product by physical ly changing it. For example, changing a laundry detergent from powdered to liquid form may mean it works better in some washing machines. Section 10.3 Check Your Understanding 1. What is a supply chain? 2. List three types of intermediaries. 3. What are the two types of distribution channels? 4. Define effective channels of distribution strategies, including the activities associated with transportation, product handling, and storage. List the six main types of transportation. 5. What are the four types of utility? Build Your Vocabulary As you progress through this text, develop a personal glossary of key terms. This will help you build your vocabulary and prepare you for a career. Write a definition for each of the following terms and add them to your personal glossary. place supply chain management intermediaries inventory channel of distribution direct channel indirect channel transportation bulk-breaking freight forwarder utility Review