Introduction
The term ‘Product’ can be defined as something that is offered to a market for use or consumption that meet the demands of the consumer’s needs. Products include much more than just tangible items such as mobile phones, televisions, cars or clothing. Products can also be defined as services, events or places. So for example, a Volkswagen Golf is a product just as your appointment with a dentist or doctor is a product. In ‘Marketing: An Introduction’ by Kotler et al (1), they say that a product has 3 levels, the core benefit, the actual product and the augmented product.
Appendix 1
Core Benefit
The essential level of a product is the core product. It refers to how the customer wants to be satisfied with the product. The …show more content…
The quality of the features or performance is key in terms of satisfying the customer. A customer must get the quality it expects and pays for. A product can be offered with many features or a stripped down version. The likes of car companies can offer different varieties of a model to attract customers. Being the first company to introduce a feature can be the biggest tool a marketer can have over the competition.
Take the VW Golf, (2) a car that has been on the market since 1974. It has gone through 7 generation changes since then. It has revolutionised its style and design as the competitors followed the need to come with a new style or design was key to keeping their place as one of the best-selling cars in the world. For 2016, VW now offers 9 styles of the Golf from a basic model to a van version. All which go from introductory model to the high spec high line model. They also allow costumers inputs into colour white to black, interior leather to fabric, wheels sizes, and technology in-car computer, park assist etc. This range would cover nearly all market segments and shows how every aspect of the actual product is covered to cover what core product the customer is …show more content…
Non-tangible attributes of an augmented product may include a product guarantee, service or installation. This may put an increase on the cost of the core product being purchased. It allows the company selling the goods, a chance provide the consumer with other services that may make using the product much easier or more feasible.
In a way to separate themselves from the competition, car dealer will augment the car with financial options, warranties, roadside assistance and other add-ons in order to make their products stand out. Long term warranties from companies will show they believe in the quality of their product. A business’s success in selling an augmented product is reliant on consumer perception of the value the extras carry, which makes marketing the product very important.
Volkswagen offers the Golf buyer a form of flexible finance options and also guarantee a guaranteed future value of the car. Which they say offer the chance to change car regularly and keep customers with the brand. Another augmented product a car company offers is a warranty, which gives added reassurance and confidence in the brand. VW Golf offers a 3-year warranty with any new car which shows the confidence and reassurance that they have in their actual
The term ‘Product’ can be defined as something that is offered to a market for use or consumption that meet the demands of the consumer’s needs. Products include much more than just tangible items such as mobile phones, televisions, cars or clothing. Products can also be defined as services, events or places. So for example, a Volkswagen Golf is a product just as your appointment with a dentist or doctor is a product. In ‘Marketing: An Introduction’ by Kotler et al (1), they say that a product has 3 levels, the core benefit, the actual product and the augmented product.
Appendix 1
Core Benefit
The essential level of a product is the core product. It refers to how the customer wants to be satisfied with the product. The …show more content…
The quality of the features or performance is key in terms of satisfying the customer. A customer must get the quality it expects and pays for. A product can be offered with many features or a stripped down version. The likes of car companies can offer different varieties of a model to attract customers. Being the first company to introduce a feature can be the biggest tool a marketer can have over the competition.
Take the VW Golf, (2) a car that has been on the market since 1974. It has gone through 7 generation changes since then. It has revolutionised its style and design as the competitors followed the need to come with a new style or design was key to keeping their place as one of the best-selling cars in the world. For 2016, VW now offers 9 styles of the Golf from a basic model to a van version. All which go from introductory model to the high spec high line model. They also allow costumers inputs into colour white to black, interior leather to fabric, wheels sizes, and technology in-car computer, park assist etc. This range would cover nearly all market segments and shows how every aspect of the actual product is covered to cover what core product the customer is …show more content…
Non-tangible attributes of an augmented product may include a product guarantee, service or installation. This may put an increase on the cost of the core product being purchased. It allows the company selling the goods, a chance provide the consumer with other services that may make using the product much easier or more feasible.
In a way to separate themselves from the competition, car dealer will augment the car with financial options, warranties, roadside assistance and other add-ons in order to make their products stand out. Long term warranties from companies will show they believe in the quality of their product. A business’s success in selling an augmented product is reliant on consumer perception of the value the extras carry, which makes marketing the product very important.
Volkswagen offers the Golf buyer a form of flexible finance options and also guarantee a guaranteed future value of the car. Which they say offer the chance to change car regularly and keep customers with the brand. Another augmented product a car company offers is a warranty, which gives added reassurance and confidence in the brand. VW Golf offers a 3-year warranty with any new car which shows the confidence and reassurance that they have in their actual