thinking on multiple levels of what the products consist of.
At the very center is what fundamental need does your customer buy the products.
Meaning, what fundamental need are you covering?
So that's the main product benefits.
But in addition to that, you may need to come up with more product benefits to
actually make it viable, differentiable, or even be able to market the product,
as a lot of the product or services will not completely differentiate at the core.
In addition, because of substitutes, or compliments, or
other offerings in the market, the customer may have come
to expect certain performance, certain features,
or certain attributes which is what the product must fulfill.
Because if you don't succeed or if you don't fulfill customer expectations,
it is very unlikely that you will actually come up with a profitable business.
And finally at the higher level we can think of the augmented product,
which is additional benefits or
additional services that you have to build up onto your core product offering,
in order to truly exceed the customer expectations.
But, let's look at an example.
Let's take the case of the iPod.
The iPod was introduced when Steve Jobs came back to apple after
apple acquired his following company called Next.