Whole product

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In marketing, the whole product concept is the third iteration of a model originally developed by Philip Kotler, a professor at the Kellogg School of Management at Northwestern University.

In his book entitled “Marketing Management” Kotler drew attention to the fact that consumers purchase more than the core product itself. And understanding the perception of value from the customer’s point of view, can help salespeople meet customer expectations. [1]

Kotler’s Five Product Levels Model outlines a hierarchy of product features, starting with the core product and progressing through expected features, augmented features, and potential future enhancements.

Following the insights provided by Philip Kotler, Ted Levitt, a professor at Harvard Business School, elaborated on the fact that consumers purchase more than core features and functions. Rather, they purchase the core product combined with complimentary attributes, the majority of which are intangible.

The total product was Levitt’s vision of how intangible elements could be added to a physical product, transforming it into an offering that was often more valuable than the physical attributes alone.

The total product concept was also refined by Tom Peters. In a 1986 publication entitled "The Eye of the Beholder", Peters proposed an extension to Levitt’s total product concept that describes the discrepancy between insider and customer perceptions in three different types of industries. [2]

Following the insights provided by Philip Kotler, Ted Levitt and later Tom Peters, Regis McKenna renamed the total product concept, calling it the "whole product" which he defined as a generic or core product, augmented by everything that is needed for the customer to have a compelling reason to buy. [3]

A fourth iteration has been suggested by Warren Schirtzinger called the Low Risk Recipe. Schirtzinger organizes intangible product attributes into three groups that surround the core innovation, and act to lower the end user's perception of risk and encourage the adoption of a new innovation; [4]

Working together with Warren Schirtzinger, Jose Bermejo suggested new intangible attributes that apply specifically to software products. Jose's angle sees the intangible elements of the Schirtzinger's Low Risk Reinvention as a way to build a brand beyond a core product and named his refined approach for software-based products The Brand Development Wheel™. [5] He also separates the tangible dimensions of product and technology to differentiate what is required by innovators versus what is required by early adopters.

See also

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References

  1. ↑ "The Evolution of the Perceived Value Product Model". Diffusion Research Institute. Retrieved 2024-11-27.
  2. ↑ "Product Perception and the Eye of the Beholder". High Tech Strategies. Retrieved 2022-06-16.
  3. ↑ McKenna, Regis (1985). The Regis Touch. Addison Wesley. p. 84. ISBN   0201139642.
  4. ↑ "Low Risk Recipe". High Tech Strategies. Retrieved 2022-01-28.
  5. ↑ "Whole Product Strategy: Setting Your Innovation & Brand Apart". www.predictableinnovation.com. Retrieved 2023-12-21.


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