There are five levels of product which are core product and benefit, actual product, expected product, augment product level and potential products.
These levels of product can be described as follows:
1. Core Product Or Benefit
Core product and benefit is the first level of product. This is basic which gives satisfaction. For example, a guest of hotel buys rest and sleep. A lady who buys lipstick buys beauty. A person who buys life insurance buys or acquires 'peace of mind'.
2. Basic Or Actual Product
The products that are offered to consumers include features, quality, style, brand name , packaging etc. For example, bed, bathroom, desk, mirror, etc are included in a hotel room. Likewise, Parle Biscuits, Sony television, Nestle chocolates are the examples of actual products. Each of the products has its own brand name, quality and features, design and so on.
3. Expected Product
In the third level, a marketer prepares expected product. The condition or attributes generally expected by customers is called expected products. Guests of a hotel expect neat and clean bed and bathroom. This is the example of expected product.
4. Augment Product
The additional benefits to be experienced or achieved by a consumers from actual product is called augment product. It does not only give satisfaction but also gives more pleasure to the consumers than their expectation. Providing pre- and post-sale services, warranty, quick delivery, product installation, counseling, instruction etc. lead to increase importance of product. So, such services are known as augment products.
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5. Potential Products
Potential product falls in the last level. Potential products means potential augmentation and modification of product in future.
