TOTAL PRODUCT
CONCEPT
Presenters :- Kaustubh Deo, Ritesh Bhanuse, Darshankumar Kabre, Ghanshyam
Nagalwade, Abhishek Pasnurwar, Piyush Pimple, Ankit Paunikar, Himanshu Bhandarkar
What is Total Product Concept?
• A product is any item or service you sell to serve a customer’s need or want.
• The total product concept is how companies and salespeople can analyze a
product and market and sell it more effectively.
• 5 levels of product.
Core product
• Basic level of total product concept.
• Needs and wants.
• Main attributes.
• The core product remains the same in spite of the other changes.
Generic Product
• Generic product is something that is sold on the name of the product i.e. What it
actually is, rather than having a brand name. Such products generally have the
name of the local shop which is selling the product or a lesser known name, but
sometimes they don’t have any brand name on them.
• Examples: Many OTC medicines are generic products. Supermarkets and local
grocery shops have products wither with the name of the shop or without any kind
of name printed on their labels. Fruits and vegetables sold by the vendors on
streets or markets and not labelled in supermarkets are also generic products.
Expected Product
• The expected product is the set of features that the customers expect when they
buy the product. The set of attributes or characteristics that buyers normally
expect and agree to when they purchase a product. For example, the computer is
specified to deliver fast image processing and has a high-resolution, accurate
color screen.
• They are the attributes that actually fulfils the customer’s most basic
expectations of the product .Marketers generally try to differentiate their offering
using fundamental characteristics such as branding, packaging and quality
standards at the expected product level.
Augmented Product
• An augmented product has been enhanced by its seller with added features or
services to distinguish it from the same product offered by its competitors.
• Augmented product refers to everything a product offers that is not directly
related to its original purpose.
• How to improve Augmented product -
• Think about your customer experience
• Relief consumer pain moments
• Your customer must return
The potential product
• Comprises all the augmentations and transformations a product might undergo in
the future.
• The emphasis is put on future product improvements to keep the product
competitive.
• The marketers must be creative, innovative.
• The potential product has to include everything that
might be done to attract and keep customers.
Industrial Examples (CAR)
GENERIC PRODUCT:
• Basic product that provides the core benefit without any fancy features.
• Ex. Transportation, without any features
EXPECTED PRODUCT:
• Expected product is the product that contains that the features generally
expected by the user.
• Ex. Comfort expected features
Industrial Examples (CAR)
AUGMENTED PRODUCT:
• It is just the opposite of expected product as it contains the features generally not
expected by its users.
• Ex. Surprise to its customer, exciting features
POTENTIAL PRODUCT:
• Potential product that contains features yet not available in the market but those
features might available in the market in future due to technology upgradation.
• Ex. Technological upgradation.
Conclusion
1. This model provides businesses with a proven method for structuring their
product portfolio to target various customer segments.
2. This model also enables them to analyse product and customer profitability (sales
and costs) in a structured way.
3. By organising products according to this model, a business' sales processes can
be aligned to its customer needs and help focus other operational processes
around its customers – such as design and engineering, procurement, production
planning, costing and pricing, logistics, and sales and marketing.
Thank you
