The 5 Product Levels Model (Kotler)

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The 5 Product Levels Model (Kotler)
A Kahnesky, Analyst, Denmark, Premium Member
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--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

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  Defining 'Basic Product Needs' is Hard!
Simon Raistrick, Business Consultant, New Zealand, Member
  (...)

  Defining Product Needs and Levels
Jaap de Jonge, Editor, Netherlands
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  Kotler's 5 Product Levels Model in Changing Market Dynamics
A Kahnesky, Analyst, Denmark, Premium Member
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  A Model of Fitness
Maurice Hogarth, Consultant, United Kingdom, Premium Member
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Marketing Mix | The 4Ps
Summary
Forum
The 5 Product Levels Model (Kotler)
🔥Kotler's New 4C Marketing Mix for the Digital Economy
Best Practices
🥇Before using the Marketing Mix
🥈4P Implementation Steps. Order of Implementing the 4Ps?
🥉4th P includes Image and Reputation
Impact of Marketing Plan on Employees?
Marketing Mix in Recession
Marketing Mix P's for Online Companies
Marketing of Services and Non Purely Physical Products?
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Examples of Marketing Mix
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Marketing Mix for Business Planning
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What About This Period
Add Image to Marketing Mix: 4P + I
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New Marketing Mix Concept: SAVE
Necessary Skills of Marketers
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4Ps are Not Optional, but Key Issues that MUST be addressed
How the Marketing Mix Influences Operations
Marketing Mix Modelling
What are the Implications for 4Ps if the Exchange Rate Changes


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