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Levitt’s total product concept
A concept introduced to marketing by the American writer Theodore Levitt. It deals with the psychological gap that may exist between the producer's view of a particular product and that of the consumer. This is particularly true of new product development. Levitt sees a product as a combination of various attributes that increase in complexity as they develop through four different levels. Products go from being generic to being potential, containing possibilities that have not yet been attained.
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- Part of Speech: noun
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- Category: Business management
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