Show Get this tool & 100’s more with Praxie Pro TemplatesKotler’s Five Product Levels Model TemplateKotler’s Five Product Levels Model Training VideoGet this tool & 100’s more with Praxie Pro TemplatesThe Five Product Levels model was developed by economist Philip Kotler in the 1960s. His book, Marketing Management, was voted one of the 50 best business books of all time in the mid-1990s by the Financial Times. Kotler changed the way marketing was viewed by contending that it was not a singular department, separated from all the others, but that marketing as an activity was an organization-wide responsibility. He asserts that the definition of a product goes far beyond being a physical object or a service. He defines a product as anything that can meet a need or a want, and his Five Product Levels Model provides a way to show the different levels of need customers have for a product, such as: Core benefit, Generic Product, Expected Product, Augmented Product and Potential Product. More about Kotler’s Five Product Levels ModelDescription of Kotler’s Five Product LevelsThe model considers that products are a means to an end to meet the various needs of customers, and asserts that there are three ways in which customers attach value to a product:
Customers will choose a product based on their perceived value of it and are only satisfied if the product’s value to them meets or exceeds expectations. If the product’s actual value falls below expectations, they will be dissatisfied. An explanation of Kotler’s Five Levels follows below:
The greatest advantage of Kotler’s Five Product Levels Model is that it enables an organization to identify how to satisfy the needs and wants of the customer, in order to help differentiate itself from its competitors. Praxie's Online Kotler’s Five Product Levels Tools & TemplatesFor strategy or product teams looking to bring their business or organization to the next level, the new online Kotler’s Five Product Levels Model template from Praxie is key to developing a strategic understanding of the different ways a product can be sold to a customer. Various types of market surveys and customer service interviews can be used to provide insights, data and additional support when using the Kotler’s Five Product Levels method. Most often, the model is presented in formats such as PowerPoint, Google Slides, or Keynote. Get started with our Kotler’s Five Product Levels Model template. How to use it:
Unlike most traditional Five Product Levels techniques, Praxie’s online Five Product Levels tools allow any team or organization to instantly begin working with our web templates and input forms. Our digital platform goes far beyond other software tools by including progress dashboards, data integration from existing documents or other SaaS software, elegant intuitive designs, and full access on any desktop or mobile device. Many of our planning tools are part of our larger Business Strategy process since the first phases of strategy development include exploring emerging trends, the competitive landscape and customer needs. View video to learn more about the full strategy process: Get this tool & 100’s more with Praxie Pro TemplatesBusiness Strategy Best Practices Library includes:: 2 X 2 Matrix, ADL Matrix, Baker's 4 Strategies of Influence, Balanced Scorecard, Benchmarking, Bowman Strategy Clock, Build-Measure-Learn Feedback Loop, CAGE Distance Framework, Competitive Analysis, Competitive Landscape Analysis, Contingency Planning, Core Competence Analysis, Critical Success Factors, Discovery Driven Planning, First Mover Advantage, Five Forces Model, Gap Analysis, GE McKinsey 9-Box Matrix, Go To Market Strategy, Hambrick & Frederickson's Strategy Diamond, Hedgehog Model, Hook Model of Behavioral Design, Hoshin Planning System, Kay's Distinctive Capabilities Framework, Key Outcome Indicators, Kotler's Five Product Levels Model, Kotler's Pricing Strategies, Lafley & Martin's Five Step Strategy Model, McKinsey 7S Model, McKinsey's Seven Degrees of Freedom for Growth, Mission Statements, Mullin's Seven Domains Model, Ohmae's 3 Cs Model, PEST Analysis, PESTLE Analysis, Porter's Diamond, Portfolio Management, Purpose Statements, Pyramid of Purpose, Scenario Planning, Simonson & Rosen's Influence Mix, SMART Performance Metrics, SMART(ER) Goals, SOAR, Strategic Goals, Strategy Map, Strategy Roadmap, Strategy Uncertainty Map, SWOT Analysis, TOWS Matrix, Triple Bottom Line, Unique Selling Proposition (USP), Value Disciplines Model, Value Net Model, Values Statement, Vision Statement, VRIO Analysis and Weisbord's Six-Box Model. |