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A product is one of the most important elements of the marketing system because it represents the offering made by a firm to satisfy the needs and wants of consumers. In marketing, a product is not limited to a physical object that can be touched or possessed. It may be a good, service, idea, experience, place, person, organisation, or a combination of these, offered to a market for attention, acquisition, use, or consumption. The concept of a product has therefore evolved from a narrow physical perspective to a broader customer-oriented perspective. The traditional product concept focuses mainly on the physical characteristics and functional benefits of a product. Under this approach, a product is viewed as an object produced by a manufacturer and sold to consumers. However, modern marketing considers a product as a bundle of benefits and satisfactions. Consumers do not purchase a product merely because of its physical characteristics; they purchase the benefits, value, utility, convenience, status, satisfaction, and experience associated with it. For example, a consumer buying a smartphone is not simply purchasing a device. The consumer is purchasing communication facilities, entertainment, information access, social connectivity, convenience, and sometimes prestige. The product concept can be understood through different levels of a product. The first is the core benefit, which represents the fundamental need __________ _________ ________ ________ _______ ________ _______ _____.
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