At the heart of a great brand is a great product. Product is a key element in the market offering. To achieve market leadership, firms must offer products and services of superior quality that provided unsurpassed customer value (Kotler & Keller, 2012). In determining the product strategy, Caninantics will need to look at five product levels: core benefit, basic product, expected product, augmented product, and potential product. The core benefit is the actual item that the consumer is purchasing for satisfaction. In this case, Caninantics is providing convenience of the automated dog food dispenser, which is beneficial for the pet and the pet owner. The convenience and characteristics of the basic product is innovative in the pet care business. It is apparent that the consumer understands all of the characteristics of the automatic dog food dispenser. Customer satisfaction will be a priority for Caninantics. Consumers expect high quality, product durability, and safety from the products they purchase for their pets. Caninantics will ensure that these consumers’s expectations are met the product is durable, and the automatic dog food dispenser will not expose any harmful threats to the dog owner. Caninantics is not alone …show more content…
The team was provided general pricing objectives and policies by the top management. Many factors must be considered when determining how to price a new product. Consumers’ knowledge plays a key role in determining this price as well. Caninantics understand that the consumer looks at product: fair price, typical price, last price paid, upper-bound price, lower-bound price, historical competitor prices, expected future price, and the usual discounted price. Purchase decisions are based on how consumers perceive prices and what they consider the current actual price to be – not on the market’s stated