i) Product constituents-
- These are the components or benefits of a product.
- Core benefit, actual benefit and augmented benefit to customers.
- For example- Smartphones provide core benefit to meet the customer's demand to call and message. They also offer actual and augmented benefit like internet, games, voice command etc.
- Branding in which a product has logo, name or symbol which distinguish itself from others.
- This meet demand of customers by having products that are associated with credible brands like apple, Audi, Tesla, Samsung etc.
- Meet demand of government because companies uses copyright under IP law for which they pay fee.
- Meet demand of competitors as each rival is able to distinguish itself from one another.
- How a product is packaged, look and secure.
- Packaging meet demand of customers by having products that are safe. for example- tetra packaging milk to prevent it from being spoil. Smartphones packaged in box from being damaged from outside factors like force, water, dust etc.
- It meet demand of government, society and environment because companies are required to use green and such packaging which comply by environmental laws and does not contribute to carbon emission.
iv) Product appearance-
- How a product look and its aesthetics.
- It meet demand of customers by having products that looks premium and feel sturdy in hand. For example- appearance of tesla car model S, Apple's iphone design feels premium.
v) Product quality-
- Quality is associated with capacity of a product to meet customer's demand and needs.
- It meet demand by providing products that are high performing, durable, reliable,serviceable and conform.
- It meet demand of supplier by having manufactures which require high quality supplies so that manufacture can build quality products.