What is an Augmented Product? An augmented product refers to a product that has been enriched by its seller through the inclusion of extra features or services, setting it apart from similar products offered by competitors. These enhancements often encompass intangible benefits or add-ons that go beyond the core product. For instance, cosmetics companies might … Read more
What is an Actual Product? An actual product is a tangible item, service, or idea that a customer buys. It’s level in the product hierarchy that sits between the core benefit and augmented product. The core benefit provides added value, solving consumer problems or enhancing their lives. Although products come with numerous features, they might … Read more
What is Expected Product? The expected product represents the set of features and conditions that customers naturally expect when they purchase a particular product. It encompasses the characteristics that a customer typically assumes to find when acquiring a product. For instance, when someone buys a pair of headphones, they naturally expect the headphones to deliver … Read more
What is a Generic Product? A generic product is like the plain version of something you buy, especially at a grocery store. Imagine going shopping with your parents, and you come across the cereal aisle. There are loads of cereals in colorful boxes with famous brand names. But there’s also cereal in simple bags or … Read more
What is Core Product? A core product is the fundamental utility or primary benefit that a customer receives when they purchase a product or service. It represents the core need or desire that motivates a customer’s buying decision. For instance, when buying a toothbrush, the core product is clean teeth. This concept is essential in … Read more
Characteristics of Product A product can be tangible as well as intangible item which is key for satisfying consumer needs. Let’s explore the 20 key characteristics/features of a product. Variety Variety is one of the important characteristics of a product. Think of variety as the spice of the product world. It’s the reason you can … Read more
What is Business Buying Behavior? Business buying behavior, also known as organizational or B2B buying behavior, encompasses the actions and intentions displayed by companies and their employees when procuring products or services for their operations. This process involves understanding the specific needs and desires of a business and making informed purchasing decisions, ultimately aimed at … Read more