- The feature is basically the characteristic or specification of the company’s offering, i.e. it describes something which the offering is or has. ...
- A feature describes “what” your product is/has/does. In contrast, the benefit is “why” the product feature is significant and relevant to the prospective customer.
- The product features are based on factual information, whereas the product benefits tend to create an emotional connection with the target audience so that they can easily relate to the ...
- The product features can state the details, whether it is physical, technological or functional. ...
- While the feature lies in the product itself, or in other words, features are possessed by the product, but benefit lies in the customer’s life i.e. ...
What are the features of a product?
- Feature (a product attribute that strategically serves an epic or theme)
- Story (usually a subset of a product feature; it might take several stories to build a feature)
- Task (a discrete job required to complete some portion of a story or feature)
Do you know the difference between features and benefits?
Summary: The difference between features vs benefits. Features are facts about products or services; they add credibility and substance to your sales pitch. Benefits give customers a reason to buy because they explain how your product or service improves their lives.
What is the difference between features and benefits?
- The feature is basically the characteristic or specification of the company’s offering, i.e. ...
- A feature describes “what” your product is/has/does. ...
- The product features are based on factual information, whereas the product benefits tend to create an emotional connection with the target audience so that they can easily relate to the ...
What are the benefits of a product?
- Increase revenue - new products provide you with new revenue streams.
- Redesign of existing products can decrease costs and so increase margins. ...
- Reduced defects and better quality, partially through better designed production and assembly methods. ...
- More sales, through wider distribution.
- Increase market share.
What are features of a product?
Product features are a product's discrete areas of new and upgraded functionality that deliver value to your customers. You can think of these as little gifts. Broadly, features can refer to capabilities, components, user interface (UI) design, and performance upgrades.
What is a benefit of a product?
Product benefits are any positive impact that a good or service has on the experience of a consumer interacting with it. Customers may note immediate benefits or long-term benefits, which they might experience at increasing levels the longer they use your product or service.
What are features and benefits in sales?
Features describe a product's functionality. They may also represent points of differentiation from your competitors. A benefit is what those features do for the customer — not in the way they work, but in the way they change your life. The features you highlight may remain consistent from customer to customer.
How do you write features and benefits?
How to describe features and benefits on your websiteHighlight a key benefit (or problem you avoid) in your headline or subhead.Use bullet points to list a series of features and benefits, because they're easy to scan; mention the most important points first or last.More items...
What are some examples of features?
An example of feature is freckles. An example of feature is a guest speaker at an event. An example of feature is a cover story in a magazine. An example of feature is a new movie coming out.
What are some examples of benefits?
Examples of benefits within a package may include: Medical insurance. Dental and vision coverage. Profit-sharing....Let's list the different types of employee benefits and discuss each in detail.Benefits that are required by law. ... Medical insurance. ... Life insurance. ... Retirement plans. ... Disability insurance. ... Fringe benefits.
How do you write the benefits of a product?
How to Write a Benefit Statement in 5 StepsIdentify the Problem. If you're having the right conversation with your customer, this should be the easiest step. ... Highlight a Feature. Which aspect of the product or service is going to alleviate their problem? ... Spotlight the Benefit. ... Present an Action. ... Share the Result.
What is an example of feature benefit selling?
For example, a new pair of glasses that feature a screen with impact-resistant frames may provide customers with the benefit of dropping or handling their glasses without the fear of breaking them. The benefits of a product or service typically rely upon the type of features they offer.
How do you translate features into benefits?
Here's how you transform any feature into a tangible benefit:1) Clearly define the feature itself. ... 2) Describe why/how the feature is a benefit to the client. ... 3) How is that different than others? ... 4) Why is that better? ... 5) Pose a closing question.
How do you explain benefits?
The definition of a benefit is something that will provide an advantage for others, something you may receive as compensation from an insurance company or an event to raise money for a worthwhile cause. An example of a benefit is the action of creating a community playground.
What you mean by features?
A feature is a distinctive trait or a special attraction. Feature can also mean to give special attention to something. The word feature has several other senses as a noun and a verb. A feature is a unique quality or characteristic that something has.
What is a feature in marketing?
Features are facts about the product or service you’re selling. Features are objective. Entrepreneurs, marketers, and small businesses sometimes emphasize features when they should be emphasizing benefits. Features describe, but it’s benefits that generate sales.
What is a feature benefit matrix?
A feature-benefit matrix is pretty simple. It’s simply a grid where you list features in the first column. Then, for each feature, you can list benefits in the following columns. Additionally, some feature-benefit matrices will have another column where you can list a call to action for each feature and benefits.
What do people think of a business?
Usually, when people think about a business, they think of an organization that employs many people. Not every business is like that, though. In fact, many small businesses are one-person...
What is the advantage of Lowes round point blade?
The first feature mentioned is the round point blade. The advantage given is that it’s ideal for digging a variety of holes.
Is the product and service section of a business plan?
Yes, this post is about the product and service section of the business plan. No, it’s not about the sales and marketing section. That will be covered in the coming weeks.
Is a business plan a marketing document?
You have to focus on how it will improve your customers’ lives. At least for the sake of marketing. Remember, the business plan is also a marketing document.
Is it hard to convey benefits?
Other times, not so much. For some features, it can be difficult to convey the benefits in an appropriate manner. Products that are status symbols can have such a problem. It could be tough to say that the benefit of a product is that the customer’s friends and family will be jealous of them.
What are the actual benefits of a product?
Actual benefits – these include the performance of the product, its design as well as its cost-effectiveness. Perceived benefits include the products popularity, its image or its reputation.
What is product benefit?
Definition. Product benefits are the things a product offers to satisfy the needs, desires and wants of a consumer. They are what a consumer hopes to get, feel or achieve when he/she uses a product. Product benefits can either be actual or perceived.
Why are benefits better than features?
Although they all work together in a bid to get consumer attention, benefits outright tell the consumers how exactly the product will change their lives.
What happens if a company cannot connect a feature to the benefit?
A company can go on a promotional roll, telling the customers about the great features its product contains, but at the end of the day, if the customer cannot connect the feature to the benefit, then they don’t really get why they should buy that particular product over another.
Which is better, car brand A or B?
Although car brand A may have better features, car brand B will most probably record more sales. That is the power of showing customers the product benefits as opposed to the product features.
Can product benefits be emotional?
But product benefits can also be emotions. Although there are products whose sole purpose is to bring emotional satisfaction to the user, more and more products are looking to give their consumers emotional satisfaction on top of the actual benefit.
What are the characteristics of a product?
The main characteristics or essential features of a product are as follows: 1. Tangible Attributes. The first and foremost important feature of a product is its tangibility. It means that it may be touched, seen and its physical presence felt, like, cycle, book, pencil, table etc.
Why is product important?
Importance Of Product. Product is the centre of all marketing activities, Without a product, marketing cannot even be imaged. Good products are the key to market success. Features and Importance of Product. Product decisions are taken first by the marketers and these decisions are the centre to all other marketing decisions, such as price, ...
What is a product in marketing?
A product may be regarded from the marketing viewpoint as a bundle of benefits which are being offered to the consumer. A product is a package of physical service and symbolic particular expected to yield satisfaction or benefits to the buyers.
What is the importance of product in marketing?
In short, the importance of product may be summarized as under: 1. Product is the Centre of all Marketing Activities. Product is the pivot and all the marketing activities cluster around it.
Who takes the product decisions?
Product decisions are taken first by the marketers and these decisions are the centre to all other marketing decisions, such as price, promotion, distribution etc. Product is the engine that pulls the rest of the marketing programmes and fills in the needs of society.
What is the marketing activity?
Marketing activities such as advertising, sales promotion distribution, buying, selling etc. are all made possible only on account of the product. It is the product which is purchased, sold, advertised, distributed etc. In short, the product is the engine that pulls the marketing activities, programmes etc.
Why is it important to include both the features and benefits of a product?
This way, consumers know what is included in a product or service while also learning how it can add value to their lives. Marketers need to find a healthy balance between features and benefits to capture more people's interest in ...
What is the difference between features and benefits?
In order to create an effective marketing strategy, marketing teams need to know the difference between features vs. benefits. Though they tend to get confused, the main difference between these two marketing terms is that benefits explain how features can serve consumers.
Why are benefits important?
They provide reasons why a feature helps create positive experiences. It's important for a marketing team to include benefits in their messaging to lead consumers to the right conclusion about your offerings.
What is a feature in marketing?
A feature is a factual statement about something included in your product or service. It may also be something that your product can do. Features add substance to your marketing efforts and are useful for people who are looking for a specific product or service. Features tend to help people who care more about the technical aspects ...
What is a benefit?
A benefit is how a product or service can improve or add value to a consumer's life. They are what a product or service can accomplish for the consumer, which tends to be more of a selling point. Benefits answer the question, "What will this product or service do for me?".
What does "feature" mean in business?
Which means that you turn a Feature in to an Advantage. “We are a big company (Feature), which means that we have the resources to help solve your problem” (Advantage). Remember, an Advantage is still only our best guess at what a customer might be looking for.
What is an advantage?
An Advantage is something we think might be a Benefit to a customer. The trouble is that most salespeople who don’t know the difference are much happier talking Features AT customers rather than finding out Benefits FROM customers.
Features vs. Benefits
What’s The Difference Between Features and Benefits?
- Likely, you’re already aware, in general terms, of the differences between features and benefits. But, here’s another way to think about it… Features are facts. They’re objective and the same for everyone. Benefits, on the other hand, answer the customer’s question: “what’s in it for me?” They’re subjective and appeal to a customer’s emotions. That...
Feature-Benefit Matrix
- Still not sure how you’ll isolate benefits from features? You can use a tool called a feature-benefit matrix. A feature-benefit matrix is pretty simple. It’s simply a grid where you list features in the first column. Then, for each feature, you can list benefits in the following columns. Additionally, some feature-benefit matrices will have another column where you can list a call to action for ea…
Features and Benefits For Products
- Let’s take a look and some real-life examples of product descriptions. The reader of your business plan is going to want to know what exactly it is that you’re selling. By scrutinizing these examples, hopefully, you will see how the descriptions can help the reader believe that your products are going to sell. Your business plan can show that the way you describe these products will help yo…
Features and Benefits in Ad Copy
- Yes, this post is about the product and service section of the business plan. No, it’s not about the sales and marketing section. That will be covered in the coming weeks. At some point, you’re going to have to market these products beyond writing simple descriptions. So, while we’re on the topic of features and benefits, I thought I should touch briefly on advertising. As with products, …
Products and Services Example
- If you’ve read any of my other business plan posts, you know that I try to put what I write about into action. A lot of this material is new to me so, I feel, in order to really learn it I need to do it. I have a hypothetical startup that I created. This business has only one product and it is an all-natural, topical hair regrowth supplement. Many of my previous posts explain it in more detail. I…