Product Hierarchy

Core Product – The most fundamental level is the core benefit. It is the fundamental benefit or service the customer is really buying. Marketers see themselves as benefit providers. E.g. A hotel guest is buying rest and sleep.
Generic/Basic Product – At the second level the, marketer has to turn the core benefit into basic product. In this the hotel room includes a bed, bathroom, towel desk, dresser and closet.
Expected Product – At the third level the marketer prepares an expected product a set of attributes and conditions that buyers normally expect and agree to when they purchase this product. Now the hotel guests will expect a clean bed, fresh towel, relative quietness.
Augmented Product – At this level the marketer prepares an augmented product that meets the customer’s desires beyond their expectations. A hotel can augment its product by providing a remote control television set, fresh flowers, fine dining and room service. Product augmentation leads the marketer to look at the buyers total consumption system: the way a purchaser of a product performs the total task of whatever it is that he or she is trying to accomplish when using the product, In this way the marketer will be able to recognize many opportunities for augmenting its offer in a competitively effective way
Potential Product – At the fifth level the potential product encompasses all the augmentations and transformations that the product might ultimately undergo in the future. Whereas augmented product describes what is included in the product today the potential product points to its possible evolution. Here companies search for aggressively new ways to satisfy surprise and delight the customers. E.g. the hotel guest finds a candy on the pillow or a bowl of fruits or a video recorder with optional tapes.

Accounting & Finance for Banking

Principles & Practices of Banking Module E Pdf

Free
Module E PPB ePDFs available in our android app. Get them all at https://iibf.info/app

Accounting and Finance for Banking Module A Pdf

Free
Accounting and finance for bankers all ePDFs are available in our an app. Get them all at https://iibf.info/app

Accounting and Finance for Banking Module A Pdf

Free
Accounting and finance for bankers all ePDFs are available in our an app. Get them all at https://iibf.info/app
Learning Sessionshttps://iibf.info
Btech, JAIIB CAIIB and a tutor. Have taken more than 900+ hours online classes with more than 1,25,000 students

Popular

Free Live Classes

spot_img

More from author

What next after CAIIB? IIBF Certifications at a Glance

What next after CAIIB? 15 Certificate Exams in Finance and Banking useful for Bankers:: Introduction As per the IBA settlement, bankers who have passed JAIIB and CAIIB...

JAIIB Mega Mock Test for Free | Principles and Practices of Banking

ppb mock test:- Jaiib Exam 2020 dates will be announced soon for May 2020 by iibf. It is high time for preparing for all...

JAIIB Study Material Principles and Practices of Banking Live Class Previous Year Questions

https://www.youtube.com/watch?v=BG2s7lPiX9A Jaiib Study Material PDF Notes Papers Mock Tests - In this post you can get JAIIB Study Material PDF files as shared by other...

Principles and Practices of Banking – PPB Most important Questions

Hello friends, today in this article by the learning sessions we will share important questions and memory called topics of PPB that is principles...