Transcript Multiple Choice Question

The principle tool that spells out
the positioning strategies and all
of the details of marketing
strategy in most businesses is the
marketing plan.
The typical marketing plan
includes a detailed analysis of the
environment of the business,
including an analysis of markets
and competitors, and the
businesses own strengths and
weaknesses.
As the plan is executed careful
monitoring can allow for fine
tuning and continuous
improvement in the way the
business serves its customers.
A product is anything that can be
offered to a market including
services, places, and organizations
to name a few.
Different levels of product include
the core product, the formal
product and the augmented
product.
At the most basic level is the core
product which is simply the
benefit the product provides for
the customer. It addresses the
problem the product is meant to
solve for the customer.
If a person at Otis Elevator said, “Our customers
don’t buy elevators, they buy movement,” what
level of product would they be referring to?
Multiple Choice Question
A. Core Product
B. Formal Product
C. Augmented Product