What Are The Four Levels Of A Product?

What is actual product example?

Actual Product is the physical or tangible product which a consumer buys to get the CORE benefits that this product has in offering.

For example, if the core benefit that a consumer seeks is READING then a BOOK is the Actual product.

The manufacturers keep in mind the CORE benefits before making the ACTUAL product..

What is core value of a product?

Core product value represents a solution a real problem that is valuable enough to cause people to want to pay for a product. Core product value is first recognized when the customer connects with the product in an A-Ha moment.

How do you develop a new product?

8 Step Process Perfects New Product DevelopmentStep 1: Generating. … Step 2: Screening The Idea. … Step 3: Testing The Concept. … Step 4: Business Analytics. … Step 5: Beta / Marketability Tests. … Step 6: Technicalities + Product Development. … Step 7: Commercialize. … Step 8: Post Launch Review and Perfect Pricing.

What are the levels of a product?

The five product levels are:Core benefit: The fundamental need or want that consumers satisfy by consuming the product or service. … Generic product: … Expected product: … Augmented product: … Potential product:

What are the 3 levels of a product?

Kotler suggested that products can be divided into three levels: core product, actual product and augmented product. The core product is defined as the benefit that the product brings to the customer. The actual product refers to the tangible object and relates to the physical quality and the design.

What is core product example?

The core product satisfies the most basic need of the customer. For example, a consumer who purchases a healthy snack bar may be seeking health, convenience, or simply hunger relief. … The core product is complex because it is so individualized, and, often, vague.

What is a basic product?

A fundamental good or service that can be provided by a business and sold to consumers that need or desire it.

What is product life cycle and its stages?

The product life cycle is the process a product goes through from when it is first introduced into the market until it declines or is removed from the market. The life cycle has four stages – introduction, growth, maturity and decline.

What is the core product of Coca Cola?

The core product is what the consumer is actually buying and the benefits it gives. Coca Cola customers are buying a wide range of soft drinks. The actual product is the parts and features, which deliver the core product.

What are the elements of a product?

Here are six essential elements of a strong product marketing strategy:Product. It may be obvious, but the first step to developing a strong product marketing strategy is making sure you have a strong product. … Audience. … Messaging. … People. … Promotion. … Analysis.

What are product layers?

A product has multiple layers: core, augmented, and symbolic. These three layers can help a small business owner understand the product features and benefits that will best deliver value to current and prospective customers. These layers also provide the bases for differentiating and positioning the product.