Financing and marketing management (1+1)

Unit 16 - New Product Development Process

16.4. Product Levels
A product has five levels.

• Core benefits- the essential service or benefit that the buyer is buying. E.g. getting clean, rest and sleep,
• Basic (generic) products - the basic product recognized as such. E.g. soap; room components – bed, bathroom,
• Expected products - the set of attributes and conditions that the buyer normally expects in buying the product. E.g. smell, shape; clean bed, towel, quietness, etc
• Augmented products - additional services and benefits that the seller adds to distinguish the offer from competitors. E.g. anti-bacterial, moisturizing; fresh flowers, rapid services, etc
• Potential product- the set of possible new features and service that might eventually be added to the offer. that exceeds customer expectations. E.g. Vitamins; candy on the pillow.