CUSTOMER VALUE HEIRARCHY
In planning its market offering, the marketer
needs to address five product levels. each Product adds more customer value and
the five constitute a customer value hierarchy.
Core Benefit: It is the fundamental level in customer
value hierarchy. It is the benefit or service the customer is really buying. In
case of soap, the customer is buying it for skin care and bathing.
Basic Product: This is the second level in customer value
hierarchy. The marketer must turn the core benefit into a basic product. In
case of soaps, the marketer must provide with basic soap that solves the need
of bathing.
Expected Product: This is the third level in customer value
hierarchy. Here the marketer prepares an expected product, a set of attributes
and conditions that customers normally expect when they purchase this product.
In case of soap, a customer expects a smooth and fragranced soap.
Augmented Product : At the fourth level, the marketer prepares
an augmented product that exceeds customer expectations. To fight competition
the marketeer tries to offer an augmented or may an even better than expected
product. In case of soap the marketer can offer the option for moisturized and
spa cells advantaged soap. He may also offer an option of rejuvenating beauty
soap.
Potential Product : At the fifth level stands the potential
product, which encompasses all the possible augmentations and transformations
the product or offering might undergo in the future.
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