Product Management

In product management, products can be understood and managed at different levels, including the core product, tangible product, and augmented product. These levels represent different aspects and value propositions associated with a product. Here's a breakdown of each level:

Core Product:

The core product represents the fundamental benefit or value that customers seek when purchasing a product. It addresses the primary need or problem that the product solves. For example, the core product of a smartphone is communication and connectivity. It is the essential reason why customers buy the product. The core product focuses on the intangible benefits or solutions that customers are seeking.

Tangible Product:

The tangible product refers to the physical attributes and features that customers can see, touch, and experience. It includes the design, packaging, color, size, functionality, and other physical characteristics of the product. The tangible product complements the core product and provides the tangible aspects that customers evaluate when making a purchasing decision. For instance, in the case of a smartphone, the tangible product includes the device's physical design, screen quality, camera capabilities, and other tangible features.

Augmented Product:

The augmented product encompasses additional elements and value-added services that enhance the core and tangible product offerings. These additional features provide customers with extra benefits and differentiate the product from competitors. Augmented product elements may include warranties, customer support, after-sales service, product customization options, or complementary services. For example, a smartphone's augmented product may include a warranty, technical support, pre-installed applications, or access to exclusive content or features.

Examples:

References:

Kotler, P., & Keller, K. L. (2016). Marketing Management (15th ed.). Upper Saddle River, NJ: Pearson.

Armstrong, G., Kotler, P., Harker, M., & Brennan, R. (2015). Marketing: An Introduction (12th ed.). Boston, MA: Pearson.

Understanding and managing the different levels of a product helps marketers create and deliver value to customers, differentiate their offerings, and build strong brands. By considering the core, tangible, and augmented product levels, companies can develop comprehensive product strategies that align with customer needs and enhance the overall customer experience.