Marketing Plan For A Product As Being A Bundle Of Benefits Essay

1430 Words May 23rd, 2016 null Page
According to Jim Blythe in Essentials of Marketing (2012), “marketers define a product as being a bundle of benefits”. This directly infers that a product is more than just physical characteristics. These attributes include warrantee, return policies/services, packaging and more, which is further explained below. McCarthy (1960) noted that “product should fit the task the target consumer want it for, it should work and it should be what the consumer expected to get” (Blythe, 2012). Subsequently, this section organizes the mentioned aspects of a product using Kotler’s product level model. Although this research is exploring attitudes, it also infers product innovation areas. According to Freng Svendsen et al. (2011) consumer involvement is crucial towards product development.
Blythe also stated that organizations must establish what their customer aims to purchase to meet their needs, which leads this portion to the subsequent topic of product hierarchy. Kotler and Armstrong (1999) noted that products exist in levels, which are core, actual and augmented products. However, the product levels are different from the consumer product hierarchy levels by Levitt (1986) (Blythe, 2012). Levitt (1986) hierarchy levels consider expectation of consumers more. According Kotler and Armstrong, marketers must identify the core customer value that customers seek from the product, to then design an actual product and identify methods of product augmentation to ultimately create customer…

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