The customer-value hierarchy mainly deals with the conception and the very step

Question

The customer-value hierarchy mainly deals with the conception and the very step in the initiation of the product till the end product. The main levels of the customer-value hierarchy are mentioned below for your reference:

Core Product - The next generation smartphone ( The smartphone should be technically stable supporting all the latest apps and work well in all conditions. The battery life should be good and should take excellent pictures.

Basic Product - iPhone 7 (It should be capable of doing the job of a smartphone. Camera, Faster processor, Better RAM, Documentation, Email, Phone call, Online Shopping, Storage, Calendar, Alarm, water resistant)

Expected Product - iPhone 7 ( Customer got all the above-mentioned features in iPhone 7 and found that it can work faster with different apps opened at the same time)

Augmented Product - iPhone 7 ( Customers realized that iPhone 7 takes the best pictures compared to the smartphone from the competitors. The processing speed is excellent and has a top-notch hardware design to it. The phone also came with new attractive colours that are capable of attracting new customers.

Potential Product - iPhone X ( Apple was able to capitalize and innovate on the existing technology to provide a totally new product like iPhone X. The technology and the product were totally transformed with new exciting features.)

All these factors make Apple an innovative company as they keep making changes to their technology to keep their customers curious about their future products. This directly creates a huge demand for their product during the release. This demand has given Apple brand a premium tag and people use the brand as a social status.

Explanation / Answer

Apple, Inc. has developed into the corporation with the largest capitalized in the world (according to the Financial Times 500). In planning their market offerings, the management at Apple must address their own five product levels of the customer-value hierarchy.

Therefore, first describe the "customer-value hierarchy" and identify the five levels of products contained within this hierarchy.

Give examples of a product found in each Product Level; include the link that connects all those products in each category and how they add value to the future of Apple's brand and reputation.

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