The term “core product” doesn’t denote the physical product but refers to the core benefits of the product or the primary purpose it serves. In other words, the “core” is the reason why the buyer is buying the product. For example, the core benefit of a camera is its ability to capture images and shoot videos. There could be multiple core benefits to a product and which could vary with buyers. For example, for some buyers, a camera’s resale value could also be a core benefit.
A core product could also be something that a company has its core competency in. For example, a camera’s core benefit is imaging, which is what popular camera brands such as Nikon and Canon are known for or are experts at. At times, a core product could also be something the seller wants to offer to buyers. For instance, an automobile manufacturer may also want to sell ‘safety’ to its buyers besides ‘transportation’.
A core product is something a company may have started its journey with, made money from, and then leveraged it to expand its product portfolio. For example, Google started with its search engine. Once its search engine became the most popular website or started making more than enough money, the American tech firm then delved into different market segments and came up with a smorgasbord of offerings, which includes Android, Google Maps, and Chrome.