Posted in Marketing and Strategy Terms, Total Reads: 4351
Definition: Actual Product
Actual Product is the physical or tangible product which a consumer buys to get the CORE benefits that this product has in offering. For example, if the core benefit that a consumer seeks is READING then a BOOK is the Actual product.
The manufacturers keep in mind the CORE benefits before making the ACTUAL product. But since in almost every product category there is competition among the manufacturers, the companies usually differentiate their product from the rest. Some of the differentiating factors that the companies use are packaging, additional features, style, branding etc to attract the consumers to buy their product. Like in the case of the book the companies may differentiate themselves from the rest by providing a good quality paper, attractive cover, more colorful pictures in the book, a bookmark etc.
The below diagram illustrates the concept of the Total Product theory.