Setting Product Strategy

Anything which companies produce to satisfy particular needs and demands is referred to as a product. A product can be classified as to be made of following five levels.

The core benefit is the underlying segment product is offering. For example, customer  buying batteries has basic need of substitute power supply or portable charging option. this is the core value that is being offered by the product. A product engineered to satisfy this basic need becomes basic product. further to this companies add product value to there offering. At the expected level a battery should be long lasting and should have high reliability factor. certain basic expectations when added to the the basic product makes it an expected product. An augmented product provides more than customer expectation like having ability to hold charge for a very long time and others features that gives added benefits to the product.. However, augmentation increases the price of the product and customers have to pay extra. An augmented product gets converted into an expected. At potential level companies provides products considering all the possible augmentation.