Product:
Product is anything that can be offered to a market for attention , acquisition, use or consumption that might satisfy a want or need of target markets. Product is a tangible object like phone, computer, car etc. When we go define product in broadly it also include services, events , persons , places , organizations, ideas or mixure of these.
Product also related to service. Service also a form of product that consists of activities, benefits or satisfaction offered for sale . It is mainly based on intangible & don't result in the ownership of anything like banking, hotel, airline travel, home - repair services etc.
Products, Services & Experiences:
In all marketing offering, products are the key element. Market offering begins with building an offering that brings value to target customers. Market offering can be both tangible & intangible goods & services. But offering products are only tangible objects like toothpaste, soap, shampoo, powder, salt or oil etc.
At present, sservices become more ccommoditized. Companies now keep more attention to give better services of their customers.
Experiences are always an important part of marketing . Experience is that a market offer to target consumers.
Levels of product & services:
Products & services have three levels. Each level adds more customer value.This levels are-
1. The core customer value: This is the most basic level. This level addresses aquestion: what is the buyer really buying? At the time of designing a product, marketers must ensure its core value that consumers may benefit or seek. For example: buying lipstick means buying a color for your lip.
2. Actual product: Secondly, marketers turn the core benefit into an actual product. Develop product, services, design, features, quality , brand name & packaging. For example: iPhone, it is a core benefit but its style, quality, feature, brand ,packaging are actual product.
3. Augmented product: This level is around the core benefit & actual product. It adds some additional facilities like delivery & credit, product support system, after sales services & warranty.
Products are the complex set of benefits that satisfy consumer needs. Marketers first develop products core benefit how can it satisfy consumer needs ; then they design some actual products service & augmented facilities. This three levels aee the most satisfying brand experience.
Product is anything that can be offered to a market for attention , acquisition, use or consumption that might satisfy a want or need of target markets. Product is a tangible object like phone, computer, car etc. When we go define product in broadly it also include services, events , persons , places , organizations, ideas or mixure of these.
Product also related to service. Service also a form of product that consists of activities, benefits or satisfaction offered for sale . It is mainly based on intangible & don't result in the ownership of anything like banking, hotel, airline travel, home - repair services etc.
Products, Services & Experiences:
In all marketing offering, products are the key element. Market offering begins with building an offering that brings value to target customers. Market offering can be both tangible & intangible goods & services. But offering products are only tangible objects like toothpaste, soap, shampoo, powder, salt or oil etc.
At present, sservices become more ccommoditized. Companies now keep more attention to give better services of their customers.
Experiences are always an important part of marketing . Experience is that a market offer to target consumers.
Levels of product & services:
Products & services have three levels. Each level adds more customer value.This levels are-
1. The core customer value: This is the most basic level. This level addresses aquestion: what is the buyer really buying? At the time of designing a product, marketers must ensure its core value that consumers may benefit or seek. For example: buying lipstick means buying a color for your lip.
2. Actual product: Secondly, marketers turn the core benefit into an actual product. Develop product, services, design, features, quality , brand name & packaging. For example: iPhone, it is a core benefit but its style, quality, feature, brand ,packaging are actual product.
3. Augmented product: This level is around the core benefit & actual product. It adds some additional facilities like delivery & credit, product support system, after sales services & warranty.
Products are the complex set of benefits that satisfy consumer needs. Marketers first develop products core benefit how can it satisfy consumer needs ; then they design some actual products service & augmented facilities. This three levels aee the most satisfying brand experience.
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