Core product:

A core product is a company’s primary promotion, service or product that can be purchased by a
consumer or we can say that core product satisfies the most basic need of the customer. For example, a
consumer who purchases a healthy snack bar may be seeking health, convenience, or simply hunger
relief.

For Example, the core product of a car is the core benefit that it gives, which is the ability to move places
at a fast pace. Transportation is the core product in this. Looks, speed, safety etc. are other ancillary
benefits that come along.

Generic product:

A generic product is something that is sold on the name of the product i.e. what it actually is, rather than
having a brand name. Such products generally have the name of the local shop which is selling the
product or a lesser known name, but sometimes they don’t have any brand name on them.

For example, many OTC medicines are generic products. Supermarkets and local grocery shops have
products wither with the name of the shop or without any kind of name printed on their labels. Fruits and
vegetables sold by the vendors on streets or markets and not labelled in supermarkets are also generic
products.

Expected product:

Expected product is the product It includes a set of attributes and conditions that the buyer expects which
marketer should provide for purchase to take place.
For example, a customer looking to buy a FM radio would want the radio in a proper (probably nice-
looking) insulating frame/body where there’s easy mechanism provided to switch stations and change
volume, and the sound is clear.
Augmented product:
The augmented product adds on features and services that distinguish it from similar products offered by
the competition. The add on don't change the actual product and may have a minimal impact on the cost
of producing the product. However, an augmented product may have a perceived value that gives the
consumer a reason to buy it. The added value may also allow the seller to command a premium price.
For example, when apple launched its video and TV streaming service earlier in 2019, it devised a way to
create awareness about it and get people to start using the service. What it did was to offer Apple TV as
an augmentation for the purchase of certain apple devices. The message on their official website stated
thus: “Starting today, customers who purchase any iPhone, iPad, Apple TV, iPod touch or Mac can enjoy
one year of Apple TV+ for free.”
Potential product:
This includes all the augmentations and transformations a product might undergo in the future. To ensure
future customer loyalty, a business must aim to surprise and delight customers in the future by continuing
to augment products.
For example, the computer software industry is in good example start with. Most consumers have
Microsoft products on their computer, such as Word and Excel. Every couple of years, these products are
upgraded to a new version with new capabilities. The prime target markets of these upgraded pieces of
software are existing customers.