Investopedia

Continue to Site »

Augmented Product

Filed Under »
Dictionary Says

Definition of 'Augmented Product'

A commodity that has both the primary physical attributes and the non-physical attributes that are added to increase the product's value. Non-physical attributes of an augmented product may include a product warranty, service or installation, and may increase the price of the basic product being purchased, and allow the company selling the good to provide the consumer with other services that may make using the product easier.
Investopedia Says

Investopedia explains 'Augmented Product'

A consumer has a host of choices across a wide price range when purchasing this type of electronic. In order to differentiate themselves from the competition, companies selling computers will augment the basic computer - the actual product - with warranties, customer service hotlines and other add-ons in order to make their products stand out.

The consumer then has the choice of buying a basic computer or an augmented product that has more bells and whistles. A company's success in selling an augmented product is heavily dependent on consumer perception of the value the add-ons bring, which makes marketing the product very important.

Articles Of Interest

  1.

    The Financial Characteristics Of A Successful Company

    There are many factors that contribute to a profitable business. Find out what they are here.

  2. Competitive Advantage Counts

    What's the best indicator of a company's future success? Its ability to succeed when others fail.

  3. Advertising, Crocodiles And Moats

    Memorable advertising is a brick in the fortress that keeps competitors at bay.

  4. Public Relations: Offering Businesses A Competitive Advantage

    To maximize the sales potential of any business, a public relations program should be part of the master marketing plan.

  5. Economic Moats: A Successful Company's Best Defense

    Find out why some companies thrive while others flounder.

  6. 3 Secrets Of Successful Companies

    Make smart investments by spotting up-and-coming success stories early.

  7. Top 5 Ways Restaurants Make You Spend More

    The next time you eat out, watch for these common restaurant tricks that undermine your dining budget.

  8. In Small Business, Success Is Spelled With 5 "C"s

    Incorporating these steps will help your business thrive in a competitive market.

  9. Multi-Level Marketing

    Learn how to differentiate between a legitimate marketing strategy and a pyramid scheme.

  10. How Business Owners Can Attract Word-Of-Mouth Referrals

    Being average is not an accomplishment. To thrive and grow, you and your business need to stand out.
comments powered by Disqus
Marketplace
Hot Definitions

  1. Disaster Loss

    A special type of tax-deductible loss, similar to a casualty loss, where a loss has been incurred by taxpayers who reside in an area that has been designated as a federal disaster area by the President.

  2. Fool In The Shower

    The notion that changes or policies designed to alter the course of the economy should be done slowly, rather than all at once.

  3. Pattern Day Trader

    An SEC designation for traders who trade the same security four or more times per day (buys and sells) over a five-day period, and for whom same-day trades make up at least 6% of their activity for that period.

  4. Cost-Push Inflation

    A phenomenon in which the general price levels rise (inflation) due to increases in the cost of wages and raw materials.

  5. Happiness Economics

    The formal academic study of the relationship between individual satisfaction and economic issues, such as employment and wealth.

  6. Affluenza

    A social condition arising from the desire to be more wealthy, successful or to "keep up with the Joneses." Affluenza is symptomatic of a culture that holds up financial success as one of the highest achievements.
Trading Center