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What is Actual Product?
An actual product is a tangible product that a consumer purchases in order to obtain the core benefits that the product offers. It comprises tangible attributes of a product such as design, quality level, functionality, brand name, features, styling, etc.
For example, if the core benefit sought is watching a movie, then a DVD or Blu-ray disc is the actual product. The definition of actual products refers to tangible items that can be seen, touched, and used. These are the products that companies produce, market, sell and ship for consumption. An actual product is also known as a formal, physical, or tangible product.
An actual product is one of the levels of Philip Kotler’s five main levels of a product. The other four levels are core benefits, expected product, augmented product, and potential product. Actual products are important as it provides the customer with a tangible product that they can use. It is a physical product that ultimately provides the customer with the actual benefits of the product. The actual product must also meet the consumer’s preference in order for them to purchase it.
Examples of Actual Product
- iPhone
- Nike Air Jordan sneakers
- Tesla Car
- Sony PlayStation
- Samsung TV
- Apple MacBook
- Fitbit
- Nest Learning Thermostat
- Coca-Cola soft drink
- Amazon Alexa Speakers
- GoPro Cameras
- Dyson Vacuum cleaners
- Bose QuietComfort 35 II headphones
- Instant Pot Duo Nova pressure cooker
- LEGO Star Wars Millennium Falcon set
Importance of Actual Product
- To generate income, businesses rely primarily on selling actual products to consumers. These tangible products are what companies produce and what consumers purchase.
- The product is a crucial element of the marketing mix, without which the pricing, promotion, and distribution strategies would be ineffective. The marketing mix relies heavily on the actual product, and without it, the whole marketing process is futile.
- Consumers are delighted when they receive exactly what they’re looking for – the actual product that satisfies their needs and wants. This is the key to providing lasting satisfaction and joy.
- Actual products have distinguishing features that can make them stand apart from competitors. From the design to the packaging and quality, these elements create a unique identity for each product. Companies leverage these qualities to differentiate their products in the market. Customers can easily find the products they need based on their individual preferences and requirements.
Hence, it is important to understand that the actual products are just as important as the attractive cover and more colorful pictures. For the average person, generic banner ads don’t provide enough information to actively explore what products tend to offer that are beneficial.
Even a novice salesperson can easily explain all of the quality levels and additional features in three levels: low-end, mid-level, and high-end. But there can be a small number of product levels within each level that provide even more specialized benefits. The key is to identify which additional features work best for the customer’s needs and then position them at the appropriate level in different product levels.
Conclusion!
In conclusion, the actual product, or the core product is the base of a company’s offering. It consists of physical features and benefits, and this is what the actual consumer receives.
The product augmentation includes extras such as services, warranties, financing options, and professional salespeople that the consumer has access to, all of which can be tailored to match individual features and preferences. This helps create an enhanced experience for the actual consumer.
Finally, the augmented product can also increase market share by appealing to larger segments of consumers and creating a more attractive product. By understanding the actual and augmented levels of products, companies can better understand their consumer’s preferences and create an effective strategy for their core product and augmented level of services.
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