Question

Define the term product and explain critical elements to keep in mind when designing a product.

Answer 1

A product is anything that can be offered to a market for attention, acquisition, use, or consumption that might satisfy a want or need. It includes physical objects, service, places, organizations, and ideas.

• Core Product: the most basic level of a product – what the customer is actually buying

• Facilitating Products: services or goods that must be present for the guest to use the core product

• Supporting Products: extra products offered to add value to the core product

• Augmented Products: Elements such as accessibility, atmosphere, customer interaction with the service organization, customer participation or customers’ interaction with each other combine with the core, facilitating and supporting products to provide the augmented product