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Total Product Concept- Market Leadership

University: Australian National University

  • Unit No: 3
  • Level: Post Graduate/University
  • Pages: 4 / Words 1082
  • Paper Type: Essay
  • Course Code:
  • Downloads: 855
Question :

The essay below offers adequate knowledge about the total product concept that is usually used by all the businesses in order to intensify its sales and profit ratio in an effective manner. As it assists an organisation to attain market leadership by which rate of accomplishment of goals and objectives is processed systematically.

  • What is the meaning of the total product concept?
  • What is the importance of total product concept to the growth and success of an organisation?
  • What is the understanding of market leadership?
  • What is the collective effect of the total product concept and market leadership in the success of the business?
Answer :
Organization Selected : Telstra

The total product concept is usually defined as a way which is used to review and view certain products and services in the totality of benefits and values which is offered and delivered to customers. The different products are offered to the marketplace as by keeping in mind about various problems and issues that are faced by customers under which different need and requirement get satisfied in a systematic manner. It refers to a bundle of services that used to offer and provide adequate fitness as with this customer get received several benefits which are directly based upon products and services that are purchased by them in order to satisfy customers requirement. It is also be used to evaluate several requirements and need of customers which is performed by different businesses as by considering different values and importance that is processed by evaluating sustained value and profitability. As per consideration of these different companies get worked over to make their products and services different from the already present services by which rate of customer attractiveness and adaptability get managed. For this unique and innovate level of changes and modification is induced by which overall market position and share get advanced. It is directly getting dependent over the consideration of differentiation which is furthermore dependent on different benefits that collectively processed core and functional benefits. It also added value benefits and advancement that is perceived by customers which organised facilities is offered in relation to build competitive advancement with comparison to its competitors.

Market leadership is relatable to the sustained position under which largest market share along with profitability margin is processed of about certain products and services. It processed adequate accountability and responsibility under which ability to translate and target specific customer and sales is demonstrate with relation to sustained forecasting. It also enable sustained growth and development that usually used to capture larger market growth with balanced adequateness. In order to maintain systematic control towards technology and its relevance about market possibilities is advanced as by offering balanced protection and for this business make supportive usage of patent and other intellectual properties as well. In this different organisation get worked over to implement and adopt better strategies and initiative as in regard of better availability within competitive marketplace. It is particularly dependent over category procedure that induce quick gaining of monopolies in which first mover is relevance with consideration of different products and services. As a market leader organisation, brand, product, group, company that collectively resultant into total sales and profit as per consideration of revenue generation. The leader get dominate about to influence customer loyalty and its attractiveness with support of distribution, pricing and selling strategies and many others as well. A leader of market get attribute towards largest share within competitive marketplace through which profitability and its margin get developed in advanced mode. It usually get advanced working over new market as with comparison to sales and its dominance which collectively redefine product quality, ease of operating, longevity and many other prospect as well.

With concept of marketing suitable that assist to advance customer benefits and its satisfactory benefits as it assist to achieve desire, dream within which effectual understanding of various products is processed as per consideration of product in which nature, design, development and delivery is processed with parallel to attract buying behaviour and pattern of customers. It induced holistic layer in which core consideration of customers is analysed that usually augment its goods and services with comparison to its competitors. It is actually a concept that is processed with support of various layers in which customers demand is get analysed and imagination that collectively process physical items in which nature of product is explored in terms of core product, actual product and augmented product. In resultant to total product it is required that an organisation maintained clear focus and target towards satisfaction and completion of customer need and demand. In relation to core product simply sustained benefit is offered that is developed as by accomplishing suitable design with support of market research under which new and innovative product is developed that used to attract and attain attention of competitive marketplace in easiest manner. In relation to actual product sustained level of translation is progressed that is beneficial and in favour of business as with this standardised aim and objective is accomplish with better certainty.

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In this different organisation has worked over the accept and adopt new modification and alteration as with this branding, packaging, featuring, styling, quality analysis is processed as it offer appropriate persuasion with perfection. On the other hand, with relation to augmented products both tangible and intangible outcome is analysed in which to become a leader organisation worked over to manage and control sales, warranties, delivery, help lines and many others as well. It also processed sustained quality under which profitable outcome is produced under which cost reduction and price sensitivity is managed as per consideration of market trends and its accessibility in controlled mode. The leader get encouraged suitable group that has worked to maintained clear target in relation to be more communicative and interactive. The better advancement of total product assist an organisation to become a market leader as it directly tends to get outperform long term success and growth in all possible mode. In is also get perceived with relation to brand loyalty, distribution coverage, price, image, profitability, perceived value, promotional spending as it has direct influence over positioning and distribution of business in successful manner. In this operational and functional values as well as image is getting advanced through which market acceptance and its processing is developed in relation to sustained development. For this adequate responsibility is played as it get assist to enjoy long term profitability and loyalty under which ability to reduce input cost and its negotiation is processed with adequateness. It also get used to advanced ideal changes and alteration that eventually improvise and facilitate product development under which substantial attraction and betterment is progressed with productiveness.

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