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1. Core Product-Consists of problem–solving services or core benefits that consumers are really buying when they obtain a product. It is the basic level of both functional and psychological benefits of a product (the reasons for the existence of the product) physical Marketers must first define what the core BENEFITS the product will provide the customer.
2. Actual Product-(tangible or expected product|) Marketer must then build the actual product around the core product i.e. provides the means by which the concept is communicated to the customers It comprises of the core product together with minimum purchase conditions .May have as many characteristics such as : Quality level, Features ,Brand name ,Packaging etc that are all combined to carefully deliver the core benefit(s).
3. Augmented Product-offer additional consumer benefits and services e.g. warranty, Customer training, after-sale services, delivery, installations, financing . Represents additional values or add-on extras that do not form part of the product but only increase the product’s benefits or attractiveness. Forms the source of differential advantage or strategy.
4. Potential product: Represents what the product could and should do in the future to maintain its differentiation i.e. acknowledges that the product is dynamic/evolutionary and strategic in nature. It represents redefinition of the product to take advantage of new user s or the extension of the existing application as a means of differentiating itself from the competitors .Example: The introduction of recliner seats ( seats that convert into beds) in the first class in British Airways Flights as a means of attracting and retaining customers in this competitive travelers market. It reflects added value and differentiation relative to the competitors
Lellah answered the question on November 5, 2021 at 09:05
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