Product Development: A Whole Product Approach
Product development is a multifaceted process that involves creating a product from an idea to its market launch and beyond. The Whole Product Approach, as conceptualized by Philip Kotler, provides a comprehensive framework for understanding and addressing the various levels of customer needs. This approach divides the product into four key levels: Generic Product, Expected Product, Augmented Product, and Potential Product. Each level adds value and enhances the overall customer experience.
1. Generic Product
The Generic Product represents the basic version of the product that fulfills the core need of the customer. It includes only the essential features necessary for the product to function. For example, a generic smartphone would include basic functionalities such as calling, texting, and internet access.
2. Expected Product
The Expected Product encompasses the set of attributes and conditions that customers typically expect when they purchase the product. These are the minimum requirements that must be met for the product to be considered satisfactory. For a smartphone, this might include a user-friendly interface, a decent camera, and reliable battery life. Meeting these expectations are essential for gaining customer trusts and deepening relationships to evolve the business.
3. Augmented Product
The Augmented Product includes additional features, services, and benefits that differentiate the product from its competitors. These enhancements provide extra value and can significantly influence the customer’s purchasing decision. In the case of a smartphone, augmented features might include advanced security options, superior camera technology, extended warranty, and exceptional customer service. The goal is to create compelling value proposition by exceeding customer expectations.
4. Potential Product
The Potential Product represents all the possible augmentations and transformations the product might undergo in the future. This level is about envisioning the product’s evolution and how it can continue to meet and exceed customer needs. For a smartphone, potential enhancements could include integration with emerging technologies like augmented reality, AI-driven personal assistants, and innovative health monitoring features. This is to ensure the product development is staying ahead and remains relevant in the fast changing market and ensuring to stay ahead of competitive market.
Benefits of the Whole Product Approach in Product Development
The Whole Product Approach in product development offers numerous advantages that can significantly enhance the overall success and marketability of a product. Here are some key benefits:
1. Enhanced Customer Satisfaction: By addressing all levels of customer needs, from the core product to potential future enhancements, businesses can create products that not only meet customer needs but exceed customer expectations.
2. Competitive Advantage: Products developed with the Whole Product Approach often stand out in the market due to their comprehensive value proposition.
3. Increased Revenue: Satisfied customers are more likely to make repeat purchases and recommend the product to others. This can lead to increased sales and revenue growth.
4. Improved Customer Retention: By continuously enhancing the product and adding value through augmented and potential features, companies can keep customers engaged and reduce churn.
5. Facilitates Innovation: The Whole Product Approach encourages continuous innovation by considering potential future enhancements
6. Enhanced Brand Reputation: Consistently delivering a comprehensive and satisfying product experience can enhance a company’s brand reputation.
The Whole Product Approach in product development is a powerful strategy that prioritizes the customer’s overall experience. By considering all aspects of the product and its interaction with the customer, businesses can create more valuable, user-centric solutions that drive satisfaction and business success. While it requires significant effort and coordination, the benefits of adopting this approach makes a crucial strategy for modern product development.