AUGMENTED PRODUCT Meaning and
Definition
-
The term "augmented product" refers to a concept in marketing that encompasses the additional features and attributes beyond the core benefits offered by a product. It is a way for companies to add value and enhance the overall customer experience.
In a dictionary definition, an augmented product can be described as a product that goes beyond its basic functions and features to provide added value, convenience, and satisfaction to the customers. This could include a range of supplementary features such as warranties, packaging, delivery services, user manuals, customer support, or even associated services like installation, maintenance, or training.
The augmented product is designed with the intention of differentiating the offering from competitors in the market and creating a unique selling proposition. It aims to fulfill the customers' needs and desires by providing a comprehensive solution, rather than just the core benefits of the product. This broader concept of the product allows companies to build stronger customer relationships and foster loyalty by delivering a superior overall experience.
By augmenting their product, companies can create a more complete and holistic offering that meets not only the functional needs but also the emotional, psychological, and social needs of the customers. The augmented product adds value and differentiates the brand in the marketplace, allowing companies to charge premium prices and achieve a competitive advantage.
Etymology of AUGMENTED PRODUCT
The word "augmented" in "augmented product" comes from the Latin word "augmentare", meaning to increase or enlarge. The term "augmented product" is commonly used in marketing and refers to a product that has been enhanced with additional features or benefits beyond its core functionality. The term emphasizes the idea of adding value to the product to meet customer needs and increase its market appeal.
