In planning its market offering, the marketer must address the five product levels of the customer-value hierarchy. Describe the "customer-value hierarchy" and identify the five levels of product contained within

What will be an ideal response?

Each layer adds more customer value. The five levels are:
1. the core benefit–the service or benefit the customer is really buying
2. the basic product–the actual product that provides the core benefit
3. expected product–a set of attributes and conditions buyers normally expect when they purchase the product
4. the augmented product–the marketer exceeds customer expectations
5. the potential product–which encompasses all the possible augmentations and transformations the product or offering might undergo in the future
These five elements constitute the buyers' consumption system.