Question

Q.Choose any companies product or brand of your choice and write a 3 -4 page report describing 3 major product levels with suitable examples.

Assessment Criteria

1-Introduction (Company/Brand)

2- 3 levels of products with examples (Core/Actual/Augmented)

3-Conclusion

4- References

about apple company

Answer 1

Answer:

Introduction:

Apple Inc. is an American multinational technology company headquartered in Cupertino, California. Apple designs, develops, and sells consumer electronics, computer software, and online services to the customer across the globe through its dedicated distribution stores.

Apple was founded by Steve Jobs, Steve Wozniak, and Ronald Wayne in April 1976 for developing and selling Wozniak's Apple I personal computer. It was incorporated as Apple Computer, Inc., in January 1977 for the sales of its computers, including the Apple II which grew very quickly. Apple became a public corporation in 1980 because of its instant financial success. Apple is the world's largest technology company on the basis of its revenues and one of the world's most valuable companies on the basis of its market share. It is also the world's third-largest mobile phone manufacturer after Samsung and Huawei as per its demand and sales. The company employs 137,000 full-time employees and maintains 510 retail stores in 25 countries as of 2020.

3 levels of product:

Core products are the one that satisfy the fundamental needs of the customer. It is the basic product on the basis of which company has been established. An example of this product is personal computer of Apple which is a fundamental product of Apple Inc.

Actual Product is the tangible product which a consumer buys to get the CORE benefits that this product has in offering. An example of actual product of the Apple is the MAC personal computer with graphical user interfaces.

Augmented product refers to any product variations, extra features, or services that help differentiate the product from its competitors. An example of augmented product of Apple is its IOS operating system software which is its patented one and competed with the windows of Microsoft and android of Google.

Conclusion:

Over a period of time, Apple has brought many new innovations in its products right from its innovation. It provides the products at usually higher cost than its competitors but is perceived as the luxurious brand and the brand that offers quality products. As of January 2020, more than 1.5 billion Apple products were actively in use worldwide. The company has a high level of brand loyalty and is ranked as the world's most valuable brand.