4.1 Definition of Product

Product can be defined as anything that delivers value to satisfy a need or want and includes physical merchandize, services, events, people, places, organizations, information, even ideas (Marshall and Johnson, 2010, p. 271). However, there is difference between product and product item. Product item refers to the specific features of a product like price, size, quality etc. Product on the other hand is the brand of a certain good such as Toshiba, laptop or Nokia hand phone.

Essential Benefit
This represents the fundamental benefit that one will derive from buying a particular product. A person, who buys a ticket to attend a meeting in London, is expecting the airline to transport him to the Kingdom within the time of the meeting. This is the essential benefit. It is the fundamental need met by the product (Marshall and Johnston, 2010). Other experiences perform secondary functions. If the primary experience is not delivered others are of no use at all.

Core Product
Core product is the main element that a product contains, usually carrying the meaning of tangible elements. For instance, a hungry person that buys a food waiting for delivery in a restaurant does not care much about the air condition in the place. He has little concern about the service men and women and forgets to some extent the immediate news he watches on the TV of the place. Therefore, the main element in the product of the restaurant, here, is the food waiting by the customer. Therefore delivering it on time will increase customer satisfaction and delaying it will lead to otherwise. This point is worth noting by all marketers to ensure value and satisfaction delivery. In turn, this will maintain and increase customer`s loyalty to the company.

4.1 Definition of Product

Enhanced Product
Basically, there exist very few products that are new in the market. More than 90 percent of the different products in the market are modified versions of the previous products. In late 1980s to early 1990s the computer software was very few, and the performance and functions were also limited. Some of the software that you may found was expensive and therefore not affordable to the individual customers. However, in the late 2000s, they became common and affordable to buyers. This tremendous shift is favorable to the customers and the sellers, since the technology has reduced per head cost of a soft ware. Therefore selling more entails generating more revenues to the company. The point now is that, this software is no more than product enhancements. They added value on the original product.