Business World

After reading this blog, you will be able to understand : Concept of Product Levels of Product Classification of Product Management of Product Line Extensions Product Planning and Development Product is anything that can be offered to a market to satisfy a want or need. PRODUCT CONCEPT :       The Product Concept assumes that consumers will buy the product that offers them the highest quality , the best performance and the most features . PRODUCT LEVEL : The most fundamental level is the core benefit : the fundamental service or benefit that the customer is really buying.  Example : A hotel guest is buying " rest and sleep ". The purchaser of a drill is buying " holes ". At the second level , the marketer has to turn the core benefit into a basic product. Thus, a hotel room includes a bed, bathroom, towels, desks, etc. At the third level , the marketer prepares an expected product, a set of attr...