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VERY GOOD & COMPREHENSIVE ANSWER BY YOUNG MAN, MR. ADEEL ................ MUCH APPRECIATED ,,,,,, WHAT ELSE I CAN ADD ????
The AUGMENTED product is the non-physical part of the product. It usually consists of lots of added value, for which you may or may not pay a premium. So when you buy a car, part of the augmented product would be the warranty, the customer service support offered by the car’s manufacturer and any after-sales service. The augmented product is an important way to tailor the core or actual product to the needs of an individual customer. The features of augmented products can be converted in to benefits for individuals.
An augmented product is a product with additional features and services that set it aside from similar competitors. Companies augment their products to increase revenues, and may create additional streams of revenue in the process, depending on the types of products and services they offer.
Costs to create an augmented product can vary. Often, small, cost-effective measures can add significantly to the retail price, which makes it a good deal for the producer, though not necessarily so good for the consumer. Some augmented product packages rely on the fact that few consumers will take advantage of the extra feature.
A commodity that has both the primary physical attributes and the non-physical attributes that are added to increase the product's value.
augmented product
A core product to which additional products and services may be added to generate multiple revenue streams. For example, an accounting software program that starts with a general ledger to which various modules such as budgeting, inventory control, payroll (as well as training aids such as books, newsletters, seminars, and videos) may be added. See also agile product.
Thanks Krishna !
Standing out from the common products by adding non physical values on the products,
such us warranty and after sale services.
Agree with senior's
