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Questions and Answers
What are the four levels of Levitt's product offer?
Which level of the seven levels of product approach represents the basic level and purpose of the product?
What are customized products?
What are potential products?
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What are differentiated products?
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Study Notes
- Marketers need to consider the benefits of a product and enhance it to create value and counter competition.
- Levitt's product offer can be conceived at four levels: generic, expected, augmented, and potential.
- The seven levels of product approach include core benefit, generic product, branded product, differentiated product, customized product, augmented product, and potential product.
- The core benefit represents the basic level and purpose of the product.
- Branded products have an identity through a name and belong to a specific company.
- Differentiated products highlight special attributes/features/qualities to distinguish themselves from competitors.
- Customized products are modified to suit individual customer requirements/specifications.
- Augmented products enhance the value of the offer through voluntary improvements.
- Potential products are future products that can be advanced and refined under existing conditions.
- Potential products are limited by the economic and technological resources of a firm.
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Description
Take this quiz to test your knowledge on the various levels of product offers and how they can be used to create value and counter competition in the market. From Levitt's four levels to the seven levels of product approach, this quiz will cover it all. Learn about core benefits, branded products, differentiated products, customized products, augmented products, and potential products. Put your marketing skills to the test and see if you can identify the key differences between each level of product offers.
