Final answer:
The third level of a product in product planning is the augmented product, which encompasses additional services and benefits like satisfaction guarantees and support services that enhance customer value beyond the basic functions of the product.
Step-by-step explanation:
The third level of a product that product planners must consider is an augmented product. This includes all the additional customer services and benefits provided beyond the core and actual product. These can include intangible aspects such as a guarantee of satisfaction, money-back assurances, a reputation for high quality, services like free delivery, financial services like offering a loan to purchase the product, and emotional benefits gained from advertising that shapes customer preference and loyalty towards a particular brand.