Marketing Plan For A Product Concept

1940 WordsOct 28, 20148 Pages
Marketing plan Product Product concept The Total product concept refers to the bundle of services offered by a product/service. For example Healthy happy foody total product can be explained as all the benefits customers receive by using the product, from service of providing food to fresh and healthy options to eat. Total product concept is used by the customers when evaluating the products among different business and they distinguish benefits and go for the product which provides them with best value for the money paid (Elliot, Rundle-Thiele & Waller 2012, p.216). Due this reason, businesses use total product concept to differentiate their products from competitors and create a unique position for them in the market. The total product concept can be analysed using four levels Core product, Expected product, augmented product and Potential product. Product differentiation When thinking about the food industry, one must understand that there is a wide variety of products are offered. Different companies provide different products to different markets. Whether they use psychographic, demographic or geographic segmentation to divide these markets, they try to make their product more appealing than those of similar restaurants. Restaurants differentiate themselves first through their dining experience. Quick service restraurants such as KFC, McDonald’s etc, will typically offer unhealthier, lower quality food, and, according to

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