Product Features: 4 Types of Product Features

A product feature is an element of a product that fulfills a customer need. Features influence the pricing of a product, and companies modify features throughout the development process to enhance the user experience. Examples of features include ambidextrous handles on scissors, the battery life of a phone, or a spending tracker in a personal finance app.

Product features and products benefits are similar, so knowing what makes them different is key to unlocking how your marketing efforts communicate the value of a product. Features speak to a product’s physical attributes (what the product consists of), while product benefits highlight its effects (how you feel while or after using it). For example, an umbrella’s features may include a plastic handle, pink cloth, and a four-foot wingspan; its benefits is that it will keep you dry on rainy days and under shade on sunny ones.

Other key elements of features and benefits include user stories, epics, and requirements. The way users perceive the benefits of a product is known as the user story. The particular capabilities necessary for a product’s features are known as the requirements. Groups of user stories and product features that share a common end goal are epics.

In developing new products, companies consider several types of features to fulfill buyer personas’ needs and inform product strategy:

1. 1. Function: Functions work toward maximizing customer satisfaction, addressing pain points, and providing the tools buyers need to complete tasks.
2. 2. Design: Design refers to the ease of use and how clearly steps are laid out for product interaction.
3. 3. Quality: Quality ties into the durability and reputation of a product. Companies that continually produce products with reliable features build customer loyalty.
4. 4. Experience: A customer’s experience with a product or service over time is part of its features. The user experience, from onboarding customers to gathering customer feedback after purchases, is also an integral aspect of a product’s features.

Product managers analyze market research and metrics to determine product goals and create a product roadmap. Consider the following steps:

1. 1. Identify market gaps. Studying consumer needs helps companies come up with and perfect the features of a product. The intersection of what features users desire and where their needs are unmet reveals gaps in the market that certain product features can fulfill—this makes a product more attractive to consumers.
2. 2. Prioritize the customer experience. When designing products that meet customer needs, customer prioritization is key. Manufacturers test the features rigorously in the real world and seek testimonials from prospective customers. This process assures business owners and stakeholders that the product meets customer needs.
3. 3. Differentiate your target markets. Product teams may create various editions of the same good or service to meet individual groups’ needs. For example, startups create products with unique features, using specific segmentation to target certain buyers based on their needs.
4. 4. Strategize digital marketing efforts. When creating marketing messaging around the product, clearly describe the unique features, and use these descriptions judiciously during the copywriting and advertising stages so the target audience knows exactly what the product does.
5. 5. Analyze competitors. How competitors adapt product features should inform business goals. Marketing strategies should include constant analysis of competitors’ features so that your brand stays ahead of the game.

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