Discuss about the Product Layer Analysis.
A product is something that is there to serve some need in the market. However that need may be an existing one or it may be a created one by the marketing experts. The definition of need satisfaction these days is linked more with the Value Proposition and the services that the product can offer to the users. There is also a grand difference that has come up in Customers and Consumers in the current marketing landscape. There are different perception of value by Consumers and Customers and hence there are multiple layers in the product layers that help in defining the value proposition for the product and these multiple layers are there to serve this need only. The concept is important to be learned by various marketing stakeholders as on this basis only they will be able to come up with a sense of knowledge that if the product is able to satisfy their value needs and also if the product is worth their bucks (Taylor, 2010). This report is an attempt to understand this aspect of product marketing in which how various layers of products are defined and how they are perceived by the consumers and customers holistically to ensure the value is realized.
There are practically five defined layers of a product and each layer is a description around what is there in the product to define the value proposition of the product to the prospective customers. The below figure is able to conceptualize this concept is a very clear manner (Robben, 2008):
The various portions of the product layers are able to define a specific function that will enhance the value proposition to the customers and consumers at large.
Core Product is the basic purpose of the product that it is intended to be produced for. Like a cell phone’s core function is to make calls and send messages. The generic product represents the quality aspect of the product that is liked with the functionality like for a cell phone it is the key pad and the screen quality and other empirical aspects. The expected product category is all about the generic aspects that a customer expects from the product. The augmented aspect is the additional benefits like speaker quality, looks and features of a phone which is more of a smart phone now. Finally it is all about the potential product that is able to generating a sale in the market and hence money flows in.
These product layers are very important from two perspective and these are the core reasons that some businesses are sustainable while others are not. These aspects are as defined below:
The competition aspect is very critical because there is a definite product that is existing in the market but the offer is made by a different player in the market and hence the augmented aspect of the product comes in. Like every phone has the capability to make a call, but the phone which has the features like Internet and other applications will be preferred by the customer as that will bring in more value for the user. This will ensure that the product is finally able to generate a buzz in the market and is capable to bring in the market share.
The sales aspect is something that will ensure the money flow in the market and these layers are something that will ensure that. The value communication is pretty clear with the messages given in the system and that will create a need in the mind of the customer to but the product and hence generate the sale. This is very important as people will pay the price for need satisfaction (Jamieson, 2011).
The product as seen by the customer is the final consumable commodity that will satisfy some need of the customer, but actually the perceived value of the product is not just by the core usage of the product. There are other aspects linked with them as well. These aspects are packaging component and the service component. The combination of these distinctive components are something that will define the ultimate product success in today’s competitive market. Like a tooth paste has a core functionality of cleaning the teeth, it is viewed by the consumer in the similar manner (Fleischner, 2012), but actually there are many other aspects that define the buying decision of the product for the new market.
Product components basically defines the characterization that goes into strategizing the adaptability of the product in the overall market place. These components are one which sets the image of the products in the market and it symbolizes its image in the market. The customer associate them with these components and hence that is the definition they all lived up to. Like the packaging aspect of Lifebuoy which claims it is for health is something that symbolizes it to be a product to be used as a health benefit actuator has a strong meaning and a message linked to it.
The core components of the product is the core features and functionality of the product. Every product cannot be a breakthrough product and every product cannot bring a distinctive usage capability in the market. Thus the core component of the product is something that defines it thoroughly and hence it is the component that is to be brought in the world as the first showcase of the product. They tell the customer that this is the reason why the product is actually existing in the market and it is there to serve some specific and defined needs. The core component is basically the definition of the product and it is actually the reason why the product is to be brought by the user.
E.g. the core feature or the component of a phone is to make calls and send messages. This is the primary value proposition that is to be shown to the world and hence the people will know that they are buying a product that will enable them to connect with the world and make calls. This core components is also there to define the league of the product and those benefits are taken up in the next sub section.
The core component of the product is helps in consumer to recognize the product and secondly it also helps in defining the competitive landscape of the product and the company. The product as defined earlier has some core offering for the customer and that is what defined the customer base for the product, since it is methodical in choosing the most appropriate section of people who will be interested in buying the product. Also, it will help the customer in identifying the product and ensuring that the basic characteristics of the product is able to ensure that it will be able to satisfy the basic needs of the consumers. Looking from the competitive landscape perspective it is to be ensured that the needs the product is able to serve the market is able to define the competition that the products will have to face in the market (Thomas, 2013). Like in case of a cell phone, the I-phone and the Samsung are in the same business of selling mobile phones which serves the same core need of calling and messaging and hence it is ensured that they are serving the same market place and are there in the same competitive landscape as well.
This is the presentation angle of the product and it serves more needs then just plain esthetics linked with it. Of course it makes the product attractive but moreover it is the mode to provide information to the prospective users and also to the customers who are there to buy the product. Some of the products also have certain requirements and for that purpose the packaging becomes a core thing. Apart from just saving the product from getting tampered or just labeling it with the name of the product, it is a medium to ensure a transparent set of communication is linked with the users and that ways it is a more convenient way of telling the viewers that this product is meant for the people who are looking for some mentioned characteristics and this is just few of many benefits and usage of the packaging component of the product components. The packaging components has gained so much of traction due to some core benefits it has showcased in the market for the aware customer base and those who wish to know their products in and out. Such information and other important aspects can be shared easily with the audience using the packaging component.
The information seeking audience is on a high and people need quick referring to be followed whenever they are trying to buy or use the product. The case of cell phone that we have been following throughout this write up is very handy here. Like it is mentioned before that competitive landscape is defined in the core component of the product. But it is also to be noticed that people and the consumers do consider price and offering to be an important criterion before making a choice in the buying decision and hence it is to be noted to define the segment of the population at a level deeper analysis. It is hence formed that the information and safety of the product is the key here and the most basic attribute through which it can be fulfilled post the purchase of the product. The packaging serves much other purposes like multi language communication, product description and other empirical features of the product and that will ensure that the people who are going to consume the product are well aware of the product and its capabilities and limitations. Like IPhone supports some features that Samsung might not support this component is the podium to share that information.
The support service component is the differentiator these days and it defines how the products services will be given post the product purchase. It is about maintaining the product linkage with the people and hence maintaining the needed connected with the masses so that the loyalty maintains as it is. This is a known fact now that it is much easier to retain a customer than to create a new pool of customers and after sales support services is something that is a differentiator in this case of competing businesses. Consider the case of IPhone here that the level at which they price their product it is almost impossible to create a new pool of user all the time (Zawacki-Richter, 2008). Under the tremendous pressure that the sales are to be achieved it is always good to ensure that the same set of people keep on buying the product and hence the sales are always up and running. This also creates a case here that since they are able to provide good level of services that almost at real time basis, the results are also booming for them and they are able to showcase that rebuying is at a high for Apple due to this reason only.
The importance of service component is on a rise for more than a decade now and companies are making more and more efforts to ensure that the connect is never lost with the customers and always it shows that the company values its customers. The customers at large will need support to ensure that in case there is a trouble using the product there is someone from the company who are ready to provide the service all the time. In case of IPhone many apps are do not work directly as in case of android and hence there is a need for a dedicated service to ensure that people are never facing any issue by using IPhone and also to be sure that the things are always up and running in their phone (Ladokun Isaac .O, 2013).
References:
Fleischner, M. (2012). 10 Key Components of a Marketing Plan. Brazil: Business Know How Publications. Retrieved from https://www.businessknowhow.com/marketing/marketing-plan.htm
Jamieson, B. (2011). Marketing Communications20. New York: Heriot Watt University. Retrieved from https://www.ebsglobal.net/EBS/media/EBS/PDFs/Marketing-Communications-Course-Taster.pdf
Ladokun Isaac .O, A. S. (2013). Impact Of After Sales Service On Consumer Satisfaction And Retention. A Study of LG Electronics in Ibadan, Nigeria. Osun: IOSR Journal of Business and Management. Retrieved from https://iosrjournals.org/iosr-jbm/papers/Vol11-issue4/H01145458.pdf
Robben, S. C. (2008). The Relationship Between Product Category, Level Of Product Meaning, And Product And Commercial Characteristics: A Content Analysis Of Tv Commercials. Delft: Delft University of Technology. Retrieved from https://www.acrwebsite.org/search/view-conference-proceedings.aspx?Id=11076
Taylor, J. M. (2010). The Case (For And) Against Multi-Level Marketing: The Complete Guide to Understanding the Flaws – and Proving and Countering the Effects – of Endless Chain “Opportunity” Recruitment, or Product-based Pyramid Schemes. Seville: Universidad de Sevilla. Retrieved from https://www.mlmwatch.org/01General/taylor.pdf
Thomas, W. C. (2013). Core Competencies and Competitve Advantage. Georgia: Georgia State University. Retrieved from https://www.ideals.illinois.edu/bitstream/handle/2142/28969/corecompetenceco92174bogn.pdf?sequence=1
Zawacki-Richter, O. (2008). a study of business support services and market failure. paris: european commission. Paris: European Commision. Retrieved from https://www.google.co.in/url?sa=t&rct=j&q=&edata-src=s&source=web&cd=6&cad=rja&uact=8&ved=0ahUKEwjKq_jqtqrPAhUJpY8KHftIBvQQFghBMAU&url=http%3A%2F%2Fec.europa.eu%2FDocsRoom%2Fdocuments%2F3646%2Fattachments%2F1%2Ftranslations%2Fen%2Frenditions%2Fpdf&usg=AFQjCNGe
Essay Writing Service Features
Our Experience
No matter how complex your assignment is, we can find the right professional for your specific task. Contact Essay is an essay writing company that hires only the smartest minds to help you with your projects. Our expertise allows us to provide students with high-quality academic writing, editing & proofreading services.
Free Features
Free revision policy
$10Free bibliography & reference
$8Free title page
$8Free formatting
$8How Our Essay Writing Service Works
First, you will need to complete an order form. It's not difficult but, in case there is anything you find not to be clear, you may always call us so that we can guide you through it. On the order form, you will need to include some basic information concerning your order: subject, topic, number of pages, etc. We also encourage our clients to upload any relevant information or sources that will help.
Complete the order form
Once we have all the information and instructions that we need, we select the most suitable writer for your assignment. While everything seems to be clear, the writer, who has complete knowledge of the subject, may need clarification from you. It is at that point that you would receive a call or email from us.
Writer’s assignment
As soon as the writer has finished, it will be delivered both to the website and to your email address so that you will not miss it. If your deadline is close at hand, we will place a call to you to make sure that you receive the paper on time.
Completing the order and download