Five Product Levels Model
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What Is a Five Product Levels Model?
The five product levels model was created by Philip Kotler in the late 1960s. The model is used to help marketers to define and classify different types of products that are available in the market. It is a simple tool that can be used to define the features, uses, characteristics, and other aspects of a product. It distinguishes between what is called core benefit and actual product.
How to Use the Five Product Levels Model with Creately?
- Select a five product level model template from Creately’s template library or draw one from scratch using Creately’s extensive library of shapes. Multiple people can edit the same diagram from anywhere and you can edit and change as a team in real-time.
- Core product: This is the basic need or desire of the customer that the product is trying to meet or provide. The best way to look at this is to look at it from a consumer’s point of view. For example, why should a consumer go to a restaurant? To buy food and drink.
- Generic product / Base product: This is a basic version of the product which contains only the properties essential to its functionality. For example, looking at the basic properties of chocolate, you would talk about its texture, color, size, flavor, etc.
- Expected product: These are the properties or properties that the consumer generally expects from the product before agreeing to buy it. In a restaurant, the consumer usually expects friendly customer service, a clean table and chair, etc.
- Augmented Product: An enhanced version of the product that has been modified to include benefits, functions, features, etc. additional in order to stand out from the competition. It turns the consumer’s desire into reality.
- Potential Product: These are the extensions and modifications that the product will experience in the future in order to retain and gain customers.
- Once finalized, export the diagram in various formats including CSV, SVG, PDF, PNG, and many more.