Marketing for the company: what the product includes

It is very important for any company to understand what exactly it produces and how to offer it to customers. Therefore, it is important what the product consists of and how consumers can perceive it.

Product - a product that was created for sale, in the first place for the marketer is the consumer value of the product. In other words, marketers look at what consumer values ​​a product can satisfy. The product has:

• Cost is what it cost the company to manufacture or acquire.
• Cost is what the company rates it at.
• Consumer value is how consumers value it.

The role of the product is what needs the product meets, what value it represents to the consumer. Modern marketing does not offer to sell the product itself, but to solve any consumer problems, and the product must satisfy some need - but at the same time do it with the maximum benefit for the consumer, then the product will be successful. So, the value of lipstick may not be in lipstick itself, but in feeling really beautiful, and sneakers in a beautiful figure that they will give.

When choosing a product, the ratio of price and quality is very important, but, on the other hand, even a quality product can be marketed with varying degrees of success.

So, a product that lives on the market can have several levels of value.

· The first, or core of the product is how the product was originally conceived. Such a product may cover any need. This is its initial purpose. The core of the product must necessarily satisfy some basic need. For example, water quenches thirst - for this they buy it.

· The second is the product in real execution. This level implies not only the satisfaction of any customer needs, but also other characteristics. It can be a design, advantages, in comparison with other goods (higher quality), its properties. For example, a characteristic of this level of product may be its packaging. Water can be sold in bottles with a screw cap - or in bottles with a valve suitable for athletes.

· The third level is the reinforcement that the product may have: installation, warranty conditions, delivery and installation, the possibility of replacement. In other words, reinforcement is all that makes life easier for the consumer who has chosen this product, the solution that the manufacturer can offer.

Marketers, promoting a product, can sell a basic service, or they can position a product in a different way. This is clearly seen in the advertising of cars: they are selling us not a vehicle, but a dream that we have.

It is worth noting that the basic need can be met in many ways. So, in order to satisfy thirst, we can buy a bottle of water - and we can buy juice or lemonade. All of these are substitute products. They can always be like this (juice, like water, always replaces thirst), and can be like that in a certain situation. For example, tea is not a substitute for a Christmas tree toy, but if you buy tea in a festive New Year's package in the form of a ball, you can give it instead of a Christmas tree toy. Another example is red roses and soft toys in the shape of a heart. They are completely different, but they both give on a date.

There are also compliment items. These are products that complement our product, and can increase the amount of the purchase. So, you can offer special packaging for red roses, a croissant in a cup of coffee, and a small package of cream for a coffee bag in the store. A person who buys disposable plates and balls for a thematic birthday can complement the set with the same napkins. All these are examples of compliment items.

A deeper understanding of what a product is and how best to promote it will help your company become more successful.