Understanding Kotler and Keller’s Five Product Levels

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Introduction

Organisations need to develop new products and services on a regular basis to stay up-to-date with the changing needs of consumers. A product is anything that can be offered to the market for use or acquisition. The product can be a substantial good that is an end, where end is the satisfaction of customer needs. Customers will choose products based on their value.

Customer Satisfaction

Competition among business owners is furious, due to which organisations need to struggle constantly to build and manage high-quality customer relationships. Be it a private sector or public sector, customer satisfaction is the key to continual survival. One should never ignore that companies are established to serve customer and if the company neglects it customers, it likely to lose its purpose of existence. As a result, customer satisfaction has become an important factor for firms that operate in diverse markets.

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