Product

Components of market offering 

Value Based Prices - It is a pricing strategy which sets prices primarily, but not exclusively on the value, perceived or estimated, to the customer rather than on the cost of the product or historical prices. Thus Post It catering to a variety of uses, utilizes this fact and sets a price of Rs. 60 for a 100 leaf pad.
Product Features and Quality - A function of an item which is capable of gratifying a particular customer need and is hence seen as a benefit of owning the item. The collection of features and characteristics of a product that contribute to its ability to meet the given requirements is called the product quality. Post It provides a variety of benefits to its customers - useful in meeting, used as a bookmark for keeping quotes, useful in homes to keep things organized, etc. On top of that it has a low adhesive glue which does not leave a mark when used on a surface.
Services Mix - A selection of services developed to offer customers a choice within a particular range.Post It offers a number of services to its customers -

1. Post It super sticky notes - Available in variety of colors and sizes and they can be put on doors, walls and computer monitors.
2. Post It Memoboard - Used in classrooms, offices and homes and do not require a pin and hence safe for children as well.
3. Post It Notes - Self adhesive removable colored notes for sending across messages.
4. Post It Index and dipensers - Used for highlighting pages in books and notes and for color coding and labelling.
5. Post It meeting charts - Quality meeting charts to fit on presentation boards. Do not require tapes or pins and hence mess free. 

Customer Value Hierarchy

Core Benefit - It is the service or benefit the customer is really buying. For a Post It the customer is purchasing a product which will enable him to buy an effective way of communicating and arranging things.
Basic Product - The basic product of a Post It would include its ability to stick to surfaces and not leave residues when removed.
Expected Product - It includes a set of attributes and conditions buyers normally expect when they purchase this product. A customer would expect a Post It to catch the eye for the purpose of reminding him constantly or so that the information can be communicated to some other person in an effective manner.
Augmented Product - An augmented product exceeds customer expectations. For ex - Post It has introduced its pads in different colors and sizes and have recently launched a recyclable product.
Potential Product - It encompasses all the possible augmentations and transformations the product or offering might undergo in the future. Here is where companies search for new ways to satisfy customers and distinguish their offerings. For ex Post It has started making use of technology now for its product in the form of sticky notes on laptops and other electronic devices.

Product Hierarchy

According to Kotler, Each product can be related to other products to ensure that a firm is offering and marketing the optimal set of products. 

The product hierarchy stretches from basic needs to particular items that satisfy those needs. 6 levels of product hierarchy have been identified. Some of which are - 

1. Need family - These are the core needs that underlines the existence of a product family. The core needs being satisfied by purchasing a Post It is the assistance provided by Post It to a user of effective communication and arranging things. Thus the need family is related to the core benefit of the customer.
2. Product family - All the product classes that can satisfy a core need with reasonable effectiveness define a product family. The product family for Post It will be effective communication. It is related to the expected product for a customer in terms of the customer value hierarchy.