The 5 Product Levels Model (Kotler)

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PRODUCT What is a Product really? It is anything that a firm offers to satisfy the needs or wants of the market. This could include physical goods, services, person, place, information, experiences, etc. Customers judge the product/service offering based on the quality, features, and price, and then choose a product based on the perceived value. PRODUCT DIFFERENTIATION Product differentiation plays a key role in strategically positioning the firm's product/service differently vis-à-vis the competitors's products, and helps in transitioning the product from the customer's consideration set to the choice set (actual purchase). KOTLER'S 5 PRODUCT LEVELS MODEL Philip Kotler developed this model, which proposed that any product may have up to 5 product layers (in the form of concentric circles) based on the amount of differentiation provided – Core, Basic (or Generic), Expected, Augmented and Potential Product.

1. CORE NEED LEVEL: This level fulfills the very basic need o (...) Read more? Sign up for free 5-5-2020
   

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