Basic product: Difference between revisions

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{{infobox4
'''Basic [[product]]''' known also as the '''core product''', is the main area on which all the [[marketing]] offerings are focused. It is part of ''Marketing-mix'' which satisfies the basic [[customer]] [[needs]] (D. Adcock, A. Halborg, C. Ross 2001, P. 182). Core product represents it's basic form. It's main benefit is the [[need]] which customer can satisfy through it. For example, in a restaurant the core product or [[service]] is the food that resolves the hunger (R. D. Reid, D. C. Bojanic 2010, P. 283).
|list1=
<ul>
<li>[[Core product]]</li>
<li>[[Brand]]</li>
<li>[[Imitator strategy]]</li>
<li>[[Augmented product]]</li>
<li>[[Aggregator model]]</li>
<li>[[Quality]]</li>
<li>[[Business model canvas]]</li>
<li>[[Advantages of cooperatives]]</li>
<li>[[Components of brand]]</li>
</ul>
}}


 
From the [[firm]]'s perspective a the core product is the reason to exist. It can be either a tangible good, or intangible service. This level of product is part of offering that delivers customers benefits which they desire. It is vital to maintain high [[quality]] of it (O. C. Ferrell, M. D. Hartline 2008, P.349).  
 
'''Basic [[product]]''' known also as the '''core product''', is the main area on which all the [[marketing]] offerings are focused. It is part of ''Marketing-mix'' which satisfies the basic [[customer]] [[needs]] (D. Adcock, A. Halborg, C. Ross 2001, P. 182). Core product represents it's basic form. It's main benefit is the [[need]] which customer can satisfy through it. For example, in a restaurant the core product or [[service]] is the food that resolves the hunger (R. D. Reid,  D. C. Bojanic 2010, P. 283).
 
From the firm's perspective a the core product is the reason to exist. It can be either a tangible good, or intangible service. This level of product is part of offering that delivers customers benefits which they desire. It is vital to maintain high [[quality]] of it (O. C. Ferrell, M. D. Hartline 2008, P.349).  


==Total product==
==Total product==
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The concept of product is strongly associated with physical objects, it is not however the case in services marketing. The term ''product'' brings up the vision of a physical objects, and is rarely thought to be put in the context of services. Product, from a marketing point of view, is anything that can be offered to a market for use, consumption or attention and that might satisfy a want or need (H. V. Verma 2008, P. 49).  
The concept of product is strongly associated with physical objects, it is not however the case in services marketing. The term ''product'' brings up the vision of a physical objects, and is rarely thought to be put in the context of services. Product, from a marketing point of view, is anything that can be offered to a market for use, consumption or attention and that might satisfy a want or need (H. V. Verma 2008, P. 49).  


A '''service product''' refers to activities that are being offered which result in satisfaction of a need or want of customers (H. V. Verma 2008, P. 49). The basic product, which is the core benefit, is the fundamental benefit that is sought by customers(H. V. Verma 2008, P. 55).
A '''service product''' refers to activities that are being offered which result in satisfaction of a need or want of customers (H. V. Verma 2008, P. 49). The basic product, which is the core benefit, is the fundamental benefit that is sought by customers(H. V. Verma 2008, P. 55).


The basic product in service offering is composed of three dimensions (O. C. Ferrell, M. D. Hartline 2008, P.350):
The basic product in service offering is composed of three dimensions (O. C. Ferrell, M. D. Hartline 2008, P.350):
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* '''Processes''' - the operational flow in the service delivery [[process]].
* '''Processes''' - the operational flow in the service delivery [[process]].
* '''Physical Evidence''' - tangible evidence of the service.
* '''Physical Evidence''' - tangible evidence of the service.
==Examples of Basic product==
* '''A car''': A car is a basic product that provides its users with the ability to travel from one place to another. It is a transportation vehicle that satisfies the customer’s need to reach a destination with ease and convenience.
* '''Clothes''': Clothes are a basic product that provide its users with the ability to protect and cover their body. It is a clothing item that satisfies the customer’s need to feel comfortable and fashionable.
* '''Computers''': Computers are a basic product that provide its users with the ability to store and access [[information]]. It is a [[technology]] item that satisfies the customer’s need to communicate, learn, and work in a digital world.
* '''Shoes''': Shoes are a basic product that provide its users with the ability to walk and protect their feet. It is a footwear item that satisfies the customer’s need to be comfortable and fashionable.
==Advantages of Basic product==
One of the main advantages of a basic product is that it provides the customer with a basic need or service. * It is usually more affordable than other more advanced products, making it attractive to customers who are on a budget. * It is easier to maintain and repair than more advanced products, making it attractive to customers who want something that they can use without a lot of extra effort. * It is often simpler and easier to use than more advanced products, making it attractive to customers who want something that they can use without a lot of technical expertise. * It can also be used as the foundation for more advanced products, giving customers the opportunity to upgrade their products when they are ready.
==Limitations of Basic product==
The basic product has several limitations:
* It does not include any additional features or benefits which can be added to a product. It is the foundation of a product and doesn't include any additional advantages.
* It does not provide any differentiation from other products in the market. This can make it difficult to stand out from the [[competition]].
* It cannot be used to target different segments of the market. It serves only the basic needs of the customers and does not provide any additional benefits.
* It has limited potential for [[innovation]]. This can limit the ability to develop new products that can bring a [[competitive advantage]].
* It can be difficult to [[price]] the basic product as there are no additional features or benefits that can be used to justify higher prices.
==Other approaches related to Basic product==
One of the approaches related to Basic product is the augmented [[product concept]]. It is the idea, that the core product should be supplemented with additional product elements and services that increase its value for the customer. This includes features like after-sales service, warranties, product customization and many more.
* The second approach is related to the concept of [[product life cycle]]. It is based on the idea that every product goes through four stages of its life: introduction, growth, maturity, and decline. It is important for marketers to recognize the stage of the product and adjust their strategies accordingly.
* The third approach is the concept of product line. It is based on the idea that a [[company]] should offer a [[range of products]] and services that are related to each other and share the same characteristics. This allows the company to target different [[customer needs]], increase [[customer loyalty]] and gain market share.
* The fourth approach is related to the concept of product positioning. It is focused on creating an [[image]] of the product in the customer's mind. It includes different marketing strategies like advertising, pricing, and segmentation.
All of these approaches are related to the Basic product concept, and they are important for creating a successful marketing [[strategy]]. They help companies to create value for their customers and to increase their market share.
{{infobox5|list1={{i5link|a=[[Augmented product]]}} &mdash; {{i5link|a=[[Imitator strategy]]}} &mdash; {{i5link|a=[[Differential advantage]]}} &mdash; {{i5link|a=[[Market Challenger]]}} &mdash; {{i5link|a=[[Price and non-price competition]]}} &mdash; {{i5link|a=[[Beachhead market]]}} &mdash; {{i5link|a=[[New product development]]}} &mdash; {{i5link|a=[[Components of brand]]}} &mdash; {{i5link|a=[[Brand innovation]]}} }}


==References==
==References==

Latest revision as of 17:09, 17 November 2023

Basic product known also as the core product, is the main area on which all the marketing offerings are focused. It is part of Marketing-mix which satisfies the basic customer needs (D. Adcock, A. Halborg, C. Ross 2001, P. 182). Core product represents it's basic form. It's main benefit is the need which customer can satisfy through it. For example, in a restaurant the core product or service is the food that resolves the hunger (R. D. Reid, D. C. Bojanic 2010, P. 283).

From the firm's perspective a the core product is the reason to exist. It can be either a tangible good, or intangible service. This level of product is part of offering that delivers customers benefits which they desire. It is vital to maintain high quality of it (O. C. Ferrell, M. D. Hartline 2008, P.349).

Total product

Total product consists of three main areas (O. C. Ferrell, M. D. Hartline 2008, P.350-35):

  • The core product
  • Supplemental Products - goods and services that add value to the basic product, differentiating it from competitive offerings. They are extra features or benefits that increase value of the whole product. They are not necessary for the product to work correctly.
  • Symbolic and Experimental Attributes - images, prestige and brand used in order to differentiate product on the market. They are mostly created by marketing program and are based on branding.

Basic product in service marketing

The concept of product is strongly associated with physical objects, it is not however the case in services marketing. The term product brings up the vision of a physical objects, and is rarely thought to be put in the context of services. Product, from a marketing point of view, is anything that can be offered to a market for use, consumption or attention and that might satisfy a want or need (H. V. Verma 2008, P. 49).

A service product refers to activities that are being offered which result in satisfaction of a need or want of customers (H. V. Verma 2008, P. 49). The basic product, which is the core benefit, is the fundamental benefit that is sought by customers(H. V. Verma 2008, P. 55).

The basic product in service offering is composed of three dimensions (O. C. Ferrell, M. D. Hartline 2008, P.350):

  • People - interaction between customer and employees.
  • Processes - the operational flow in the service delivery process.
  • Physical Evidence - tangible evidence of the service.

Examples of Basic product

  • A car: A car is a basic product that provides its users with the ability to travel from one place to another. It is a transportation vehicle that satisfies the customer’s need to reach a destination with ease and convenience.
  • Clothes: Clothes are a basic product that provide its users with the ability to protect and cover their body. It is a clothing item that satisfies the customer’s need to feel comfortable and fashionable.
  • Computers: Computers are a basic product that provide its users with the ability to store and access information. It is a technology item that satisfies the customer’s need to communicate, learn, and work in a digital world.
  • Shoes: Shoes are a basic product that provide its users with the ability to walk and protect their feet. It is a footwear item that satisfies the customer’s need to be comfortable and fashionable.

Advantages of Basic product

One of the main advantages of a basic product is that it provides the customer with a basic need or service. * It is usually more affordable than other more advanced products, making it attractive to customers who are on a budget. * It is easier to maintain and repair than more advanced products, making it attractive to customers who want something that they can use without a lot of extra effort. * It is often simpler and easier to use than more advanced products, making it attractive to customers who want something that they can use without a lot of technical expertise. * It can also be used as the foundation for more advanced products, giving customers the opportunity to upgrade their products when they are ready.

Limitations of Basic product

The basic product has several limitations:

  • It does not include any additional features or benefits which can be added to a product. It is the foundation of a product and doesn't include any additional advantages.
  • It does not provide any differentiation from other products in the market. This can make it difficult to stand out from the competition.
  • It cannot be used to target different segments of the market. It serves only the basic needs of the customers and does not provide any additional benefits.
  • It has limited potential for innovation. This can limit the ability to develop new products that can bring a competitive advantage.
  • It can be difficult to price the basic product as there are no additional features or benefits that can be used to justify higher prices.

Other approaches related to Basic product

One of the approaches related to Basic product is the augmented product concept. It is the idea, that the core product should be supplemented with additional product elements and services that increase its value for the customer. This includes features like after-sales service, warranties, product customization and many more.

  • The second approach is related to the concept of product life cycle. It is based on the idea that every product goes through four stages of its life: introduction, growth, maturity, and decline. It is important for marketers to recognize the stage of the product and adjust their strategies accordingly.
  • The third approach is the concept of product line. It is based on the idea that a company should offer a range of products and services that are related to each other and share the same characteristics. This allows the company to target different customer needs, increase customer loyalty and gain market share.
  • The fourth approach is related to the concept of product positioning. It is focused on creating an image of the product in the customer's mind. It includes different marketing strategies like advertising, pricing, and segmentation.

All of these approaches are related to the Basic product concept, and they are important for creating a successful marketing strategy. They help companies to create value for their customers and to increase their market share.


Basic product — recommended articles
Augmented product — Imitator strategy — Differential advantage — Market Challenger — Price and non-price competition — Beachhead market — New product development — Components of brand — Brand innovation

References

Author: Karolina Liskiewicz

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