bINTRODUCTION: Product$/$Service Features vs$.$ Benefits

To draw the interest of investors, engage and persuade customers, and generate sales and revenues, it is critical that a business defines its product or service, as well as its features and benefits. Most business owners are passionate about their new business and product or service offerings, but the process of summarizing these ideas in writing can be daunting.

A product feature is the product or service differentiator, that is$,$ what makes the product or service stand out from the competition. It highlights what is useful and appealing to the potential customer.

A product benefit is the state of emotion that the product delivers to the consumer. When describing the product or service benefit, the summary must show what the specific feature $($or features$)$ can do for the consumer, and why the consumer should purchase the product or service.

WHY THIS MATTERS: It is often difficult to discern the difference between these two components of the product$$s composition, as many features might sound like benefits, and vice versa. For example, stating that a computer has fast Internet connection is actually stating a feature, not a benefit. A benefit of a fast Internet connection would be the ability to connect quickly to the Internet and locate information with the touch of a finger.

Both features and benefits are equally important to a customer$$s purchasing decision. However, product benefits provide the best opportunity for converting potential customers into loyal customers.

YOUR TASK: Complete the following exercise to ensure you fully understand the difference between product features and product benefits.

$1.$ PRACTICE: Differentiate between product benefits and features.

INSTRUCTIONS: Each of the characteristics that follow represents either a feature or a benefit of a laptop computer. First, evaluate each characteristic to determine whether it is a feature or a benefit; second, match each feature to the benefit it provides.