Products Flashcards
Augmented, Core and Actual
What is a product?
Anything that can be offered to a market to satisfy a want or need
What products might we find in a business product portfolio?
physical goods, places, services, events, information/ideas
What are goods?
physical/ tangible products
what is an example of goods?
car, tv
what is a service?
non-physical/ intangible
what is an example of a service?
financial consultant, teaching
what is the Core product?
the Benefit of the product that makes it valuable
what is an example of a Core product?
the ability to get to any destination at a time that suits the user (car)
what is the Actual product?
the physical item
what differentiates a product from competitors?
branding, added features and benefits
what might a car company do to differentiate there product from competitors?
air conditioning, central locking, bluetooth
what is the Augmented product?
additional value beyond the physical product
what does the Augmented product usually consist of?
after-sales service, warranties, delivery
what is an example of an Augmented product?
a car dealer offering an interest-free loan
what are durable goods?
goods not for immediate consumption and able to be kept for a period of time
