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The Core Benefit Model was devised by Philip Kotler to address and recognize the five levels of need that customers have.
The five levels of need are:
Core Benefit
The fundamental need or want that consumers satisfy by consuming the product or service
Generic Product
A version of the product containing only the necessary attributes or characteristics
Expected Product
What buyers normally expect and agree to when they purchase a product
Augmented Product
Inclusion of additional features, benefits, attributes, or related services that serve to differentiate the product from its competitors
Potential Product
All the augmentations and transformations a product might undergo in the future
Typical Forecast Methods
Survey of buyers’ intentions
"How likely are you to buy if..."
Purchase intent (PI)
Expert opinions
Dealers
Distributors
Trade Associations
Gov't Organizations
Past-sales analysis
In the same period last year
Test market method
Use a similar marketplace with a similar product
Google Sites
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