The product and its associated concepts

According to Kotler (2001), a product can be defined as basically anything that can be offered to a market for attention, acquisition, use or consumption with the possibility of satisfying a want or need. Within a product, there are three distinct levels, which outline the different levels of benefits or offerings from the product or company. Each level of offerings is focused closely around the needs and wants of the consumer, and are also used as a comparison to the offerings of competing products. The three mentioned levels include the core product level, the actual product level, and the augmented product level. Each concept level is significant to the final presentation of the product. This concept of the multi-level product is also an exceptional tool in attempting to meet all levels of consumer needs and wants. BMW motoring group are an exemplary company to illustrate this concept.

The core level of a product is described by Crawford & Di Benedetto (2000, pg.242) as “the re...