Product

Enhanced product

The enhance product extends the core product to include additional features, designs and innovations that exceed customers expectations. Companies will build on the core product. Creating opportunities to strengthen the brand.

Essential Benefits

The essential benefit: Is the fundamental need met by the the product or what the product was designed to give the consumer / reason why it exists.

Product - PM,S,E,P,P,O,I,I

A product can be defined as anything that delivers value to satisfy a need or want and includes physical merchandise, services, events, people, places organisation, information even ideas.

Difference between a Product and a product item

Product: is a brand such as post it notes or tide detergent Product item: A company may decide to develop a number of product items within a product e.g. Different sizes, scents

Core product

The core product is where companies translate the essential benefit into physical and tangible elements. Core products can cause competition as some companies can offer inducing and competitive products that differentiate their companies from competitors.