SETTING PRODUCT STRATEGY-

In planning its market offering,the marketer needs to address five product levels. Each product level adda more customer value and all the five constitute a customer-value hierarchy.

• Core benefit: Benefit derived after you consume that particular cream. For ex. purchase of a sunscreen is buying a protection from harmful sun rays.
• Basic product: Second comes the the turning of core benefit into basic product. Thus a lakme sunscreen containing natural ingredients.
• Expected product: Customer will expect a cream that protects skin from sun and leaves it flawless. 
• Augmented product: Exceeding customer's satisfaction by providing them with not only one but different kinds of lakme sunscreens for different skin types.
• Potential product: Search for new ways to satisfy customer and distinguish the offering. Coming up with the schemes and other new offers on the sunscreens to attract the potential customers

RELATIONSHIP OF THE CONSUMER,COMPANY AND COMPETITION IN SETTING PRODUCT STRATEGY(LAKME SUNSCREEN)

Consumer: The requirements and trend to be recognised by the marketers. The skin problems and giving a gloss to the skin and protecting the skin from the damage caused by the harmful UV rays. 

Company: It includes the skills, assets and culture. Also the expectations by the customers to be kept in mind. Using the natural ingredients and making it in all portable sizes.

Competition: Brand positioning in the market and coming out with the unique and innovative ideas. Lakme launched the sunscreens for various skin types. (oily,dry and normal)