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Benefits and Barriers of Product Augmentation: Retailers and Financial Services

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Abstract:

The concept of the augmented product is an established part of marketing theory and practice. The main objective of this paper is to analyse the perceived benefits and barriers of deploying an augmented product, and to determine whether they differ depending on the stage companies have reached in introducing the augmented product. The retailing industry is used as the basis for analysis, and the introduction of financial services as the example of an augmented product. The respondents suggest that financial services do not support the core product and in many ways distract retailers in their marketing efforts. In many other ways, though, retailers did see the utilisation of financial services as desirable. The results also show that the perceived benefits and barriers to the introduction of the augmented product differ considerably depending on the stage companies have reached in the introduction of the product and their objectives in using the augmented product.

Keywords: PRODUCT AUGMENTATION; RETAIL AND FINANCIAL SERVICES; RETAILER DIVERSIFICATION

Document Type: Research Article

DOI: http://dx.doi.org/10.1362/0267257022775927

Publication date: February 1, 2002

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