There are four different concepts of products which are physical concept, service concept, augmented concept and total product concept.
These concepts of products can be described as follows:
1. Physical Or Tangible Concept Of Product
Physical or tangible concept of product is a traditional concept. It covers only physical features of product. Name, shape and size, color, design, type, weight, taste, standard and qualities etc. exist in product. Such products can be seen, touched ans owned. So, this is also called physical or tangible concept of product. This concept is taken as narrow concept. This concept cannot achieve the main objectives of marketing organization,.
2. Service Or Intangible Concept Of Product
Service concept of product is also called intangible concept. In this concept, product cannot be seen or touched but only felt. Services, ideas, events, experiences etc. are the examples of intangible products. Banking services, insurance services, beauty parlor, health care services etc. are the examples of intangible products.
3. Extended Or Augmented Concept Of Product
This concept includes both physical and service concept of products. If services, warranty, reputation, goodwill etc. are also obtained together with physical goods, it is called extended or augmented concept. For example, when a computer is purchased, the customer gets user's guide, warranty and repairing assurance, quick service etc.
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4. Total Product Concept
Total product concept includes tangible, intangible and extended concepts. This concept is based on marketing concept and is consumer oriented. In other words, total product concept encompasses all the aspects of the benefits obtained by consumers from a product. The total form of physical attributes, benefits, advantages, performance of the product, consumer's experience etc. is the total product concept.