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Customer-Value Hierarchy
- 1. REMEMBER THIS: 5 PRODUCTLEVELS Jean Daisy C. de Guzman V60 Marketing Management Professor Bond De Ungria www.jeandeguzman.blogspot.com
- 2. The Customer-Value Hierarchy: 5Product Levels www.jeandeguzman@blogspot.com www.jeandeguzman.blogspot.com Concept 2
- 3. I have namedmy blog “for the love of cupcakes” for a reason.. www.jeandeguzman@blogspot.com www.jeandeguzman.blogspot.com I love sweet things, cupcakes in particular, with a passion!
- 4. Allow me totake you to a journey of how my favorite things come to life… www.jeandeguzman@blogspot.com www.jeandeguzman.blogspot.com
- 5. Desserts are passionatelymade for the SATISFACTION of diners… www.jeandeguzman@blogspot.com www.jeandeguzman.blogspot.com Similar to how desserts are made, products undergo 5 levels of development to ensure customer satisfaction
- 6. Level 1: CoreBenefit www.jeandeguzman@blogspot.com www.jeandeguzman.blogspot.com -the fundamental need or want that consumers satisfy by consuming the product or service -similarly, desserts also need a CORE ingredient
- 7. Level 2: BasicProduct www.jeandeguzman@blogspot.com www.jeandeguzman.blogspot.com -a version of the product containing only those attributes or characteristics absolutely necessary for it to function -before an apple can become a dessert, it will need BAKING
- 8. Level 3: ExpectedProduct www.jeandeguzman@blogspot.com www.jeandeguzman.blogspot.com -the set of attributes or characteristics that buyers normally expect and agree to when they purchase a product -after baking, what we can expect to see is an apple pie that looks and tastes pie EXCELLENT
- 9. Level 4: AugmentedProduct www.jeandeguzman@blogspot.com www.jeandeguzman.blogspot.com -inclusion of additional features, benefits, attributes or related services that serve to differentiate the product from its competitors -what can set our pie apart is if we serve it ALA MODE
- 10. Level 5: PotentialProduct www.jeandeguzman@blogspot.com www.jeandeguzman.blogspot.com -all the augmentations and transformations a product might undergo in the future -Why stop at a pie when you can make a CUPCAKE?
- 11. The Customer-Value Hierarchy: 5Product Levels www.jeandeguzman@blogspot.com www.jeandeguzman.blogspot.com Concept 2
- 12. The Customer-Value Hierarchyis similar to a Cupcake’s Journey www.jeandeguzman@blogspot.com www.jeandeguzman.blogspot.com 5 PRODUCT LEVELS CUPCAKE JOURNEY Core Product Core Ingredient Basic Product Baking Expected Product Excellent Look & Taste Augmented Product Ala Mode Potential Product Apple Pie Ala Mode CUPCAKE
Editor's Notes
- #3 1. Core Benefit ----the fundamental need or want that consumers satisfy by consuming the product or service. 2. Generic Product----a version of the product containing only those attributes or characteristics absolutely necessary for it to function. 3. Expected Product----the set of attributes or characteristics that buyers normally expect and agree to when they purchase a product. 4. Augmented Product---inclusion of additional features, benefits, attributes or related services that serve to differentiate the product from its competitors. 5. Potential Product---all the augmentations and transformations a product might undergo in the future.
- #4 Satisfaction is the degree to which the actual use of a product matches the perceived value at the time of the purchase. A customer is satisfied only if the actual value is the same or exceeds the perceived value.
- #5 Satisfaction is the degree to which the actual use of a product matches the perceived value at the time of the purchase. A customer is satisfied only if the actual value is the same or exceeds the perceived value.
- #6 Satisfaction is the degree to which the actual use of a product matches the perceived value at the time of the purchase. A customer is satisfied only if the actual value is the same or exceeds the perceived value.
- #7 Core Benefit ----the fundamental need or want that consumers satisfy by consuming the product or service.
- #8 Basic Product----a version of the product containing only those attributes or characteristics absolutely necessary for it to function.
- #9 Expected Product----the set of attributes or characteristics that buyers normally expect and agree to when they purchase a product.
- #10 Expected Product----the set of attributes or characteristics that buyers normally expect and agree to when they purchase a product.
- #11 Expected Product----the set of attributes or characteristics that buyers normally expect and agree to when they purchase a product.
- #12 1. Core Benefit ----the fundamental need or want that consumers satisfy by consuming the product or service. 2. Generic Product----a version of the product containing only those attributes or characteristics absolutely necessary for it to function. 3. Expected Product----the set of attributes or characteristics that buyers normally expect and agree to when they purchase a product. 4. Augmented Product---inclusion of additional features, benefits, attributes or related services that serve to differentiate the product from its competitors. 5. Potential Product---all the augmentations and transformations a product might undergo in the future.
- #13 1. Core Benefit ----the fundamental need or want that consumers satisfy by consuming the product or service. 2. Generic Product----a version of the product containing only those attributes or characteristics absolutely necessary for it to function. 3. Expected Product----the set of attributes or characteristics that buyers normally expect and agree to when they purchase a product. 4. Augmented Product---inclusion of additional features, benefits, attributes or related services that serve to differentiate the product from its competitors. 5. Potential Product---all the augmentations and transformations a product might undergo in the future.