It is important to understand that the foremost goal that every business pursues is profit. Therefore, many newcomers into the business world start making crucial mistakes by competing on price rather than focusing on the actual value. (Holak, 1990). Increasing the perceived value of any specific product may be extremely beneficial and lead to more prosperous results. There is the ‘three levels of product’ theory that can be applied to daily business procedures to achieve the greatest success. If you know how the customer or buyer perceives your product, you are halfway successful. (Hayden, 2007). Besides, ‘traditional professions are facing major competition not only from within but among one another as well’ (Kotler, 2006). So, there are three main aspects that businessmen should know, unlike the average buyers. These three aspects are the core one, the actual product, and the augmented product or service. (Kotler, 2002) For example, the core product of an automobile is its main benefit, and the very first reason that makes you buy it is the ability to get you from one point to another quickly. The core product of the automobile is speed and comfort. The actual product is usually the one that allows you to get some forms of use out of the car. Usually, the actual product is the one you can touch, it is the actual vehicle and its design in this case. The augmented product is a non-tangible one. In the case of a car, it would be excellent customer service that adds some value to your experience of buying this automobile. And, of course, it is a warranty when we speak about the augmented product of a car. So, the focus of this paper is to compare and define a contrast between Monash Marketing Student Society (MMSS) membership and Diesel Fuel for Life denim collection for him fragrance according to the ‘three levels of product’ theory.
So, the core product of Diesel Fuel for Life denim collection for him fragrance is the actual need to have a nice scent. Men choose to smell nice because this is somewhat as a tribute to their overall handsome image and a good scent whispers ‘I take good care of myself. (Pellegrin, 2009). So, the core product is the actual presence of scent on a man. The actual product of Diesel Fuel for Life is its actual scent, bottle usability (covered in denim fabric), and durability of the scent. So, according to the description of Diesel, this product possesses an odor of Anise, raspberry, grapefruit, woody citrus notes, and a punch of lavender. And the augmented product of cologne is delivery. If you order the product online, the company promises to deliver it for free in case the purchase exceeds £30.00. Also, the augmented product will be the customer service inquiry experience if a customer needs to contact the company. Another issue to describe is a service. It is a Monash Marketing Student Society (MMSS) membership. So, what it offers is a core product being a member of a special group of students that has more access to industrial and marketing events. The actual product of MMSS is its social and industrial development events, among them is the Marketing Industry Development Scheme, the society brings many students together to help them succeed in academia. There are other social and MINDS events, such as MINDS Careers Night, Digital Careers information night, Corporate Cocktails, and Student Workshops. The augmented product is an opportunity to be a part of strong links of industrial marketing that the society possesses and the access to career opportunities.
Comparison and Contrast of the Products
So, it is necessary to consider two undertakings according to the ‘three levels of product’ theory. The core products of membership and cologne have a slight similarity. Namely, the common features are the ultimate popularity and recognition among people that both products are delivered once you order them. The core product of the cologne is an image of a successful person with an expensive scent on, which is an addition to the overall image of a man, and membership at MMSS is seemingly a pass to more popular, fun, and educative studentship, which complements the image of a student. The actual products of both objects under consideration have little in common though there is a feature that unites so different perfume and students’ club, it is the brand name and quality level. Here, the two organizations have completely different areas of appeal, but they both manage to cover their target market population. The brand name plays a very crucial role in the product popularity at the second level: perfumes are called for (once buyers see the name on the bottles) and the MMSS is also demanded since so many students join it. The second level of Diesel Fuel For Life offers to experience the quality of the cologne, so MMSS does because it suggests a profound thought through a program of marketing activities to enlarge the scope of knowledge. The last level of the product is the augmented product. Of course, MMSS pulls ahead in this arms race. The MMSS membership enables a student to hope for a good job opportunity in case he/she works well during academic studies. In this case, Diesel can offer its customers free delivery and after-sale services if they are needed.
‘The academic field of marketing formally began shortly after the turn of the last century and is now about 100 years old’ (Wilkie, 2003). There have been many changes which marketing has undergone since the beginning of the marketing era. One of the results is the ‘three levels of product’ theory that allows understanding the customer better and, thus, forming a better product to make the market position more stable, firm, and successful. As per the products compared throughout the paper, it can be said that the Diesel Company made everything possible to follow the theory and win the customers’ recognition. However, the services MMSS offers are much more farsighted. While the third level of MMSS products is better than Diesel’s one, the first and the second levels of products are pretty competitive. To be more exact, it is hard to define which one of these products presents a more urgent necessity, so the first level of product estimates people’s needs rather than companies’ business capabilities. However, the second level of the product significantly and performs the two ventures’ business attempts. So, perhaps, the MMSS is more successful because it offers students a lot of opportunities for professional development and unforgettable studentship. However, Diesel is considered to cover a more vast target audience and has to cope with many people’s tastes, that is why it is harder to succeed for the brand.
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- Pellegrin, B. (2009). Branding the Man: Why Men Are the Next Frontier in Fashion Retail. New York, NY: Allworth Press.
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