The success of a product hinges on its features. Product managers are well aware of the need to introduce those that will increase product adoption and return on investment.
Without thorough investigation and careful prioritization, striking the right balance between consumer needs and the product’s vision can prove challenging. In this article, we will consider product feature examples and highlight tips for choosing product features.
What Exactly Is a Product Feature?
A product feature distinguishes one product from all others in the same category. When choosing between competing products, customers will often consider the features available. Features can be technical or non-technical.
A company often provides them in a package with the product or service. It can also be a selling point that stands apart from the rest of the competition.
Some features are a part of a product’s standard, intrinsic functionality, whereas others are added as an additional cost for the consumer. Product features often inspire great enthusiasm, as they tend to be the most well-known, affecting the customer’s perception of a product.
5 Categories of Product Features
A new product will have several kinds of features. You can set yourself apart from the competition by focusing on areas in which they are lacking. Take a look at these five different categories of product features.
Generally speaking, “functionality” describes the range of possible applications for a specific product. An effective product should improve a person’s life by making the daily tasks easier or eliminate a problem.
Some goods can have novel functional features, while others only implement established ones.
2. Product Experience
Product experience refers to the intangible qualities of a service or commodity. They can be crucial in making an impression on customers and winning their loyalty. Having a trouble-free onboarding experience or receiving five-star service from customer support are two of such examples.
3. Quality Feature
Both visible and invisible features can contribute to a product’s overall quality. Quality is also a factor to consider when determining the worth of a product and its feature. If you’re a fashionista, you could pay a premium for a Gucci bag since you know the fabric is top-notch.
Another purely aesthetic feature component is design. Style and design can help set your product out from the crowd of similar offerings on the market. An attractive phone case can help sway potential buyers.
5. Perceived Value
What a product includes is the focus of the various feature classifications. When clients believe they are getting more value from your product than they are, that’s when you know you’ve succeeded. Some e-commerce companies may accomplish this by adding presents when individuals order.
Product Feature Examples
Now that we’ve discussed various product features, let’s look at some product feature examples. The features, benefits, and marketing messages shown here are those most likely to attract and retain customers.
Duolingo’s tagline, “Language courses that efficiently teach reading, listening, and speaking abilities,” encapsulates its feature. Duolingo’s bespoke teachings, developed with the help of AI and linguistics, are its major selling point. Users profit since they can study a new language conveniently and quickly.
Few companies have mastered feature-driven marketing to the extent that Apple has over the past decade.
The iPhone 13 of today may be superfast, wide, and “sexier” (if you’re comfortable attaching such a moniker to a phone). Still, it is otherwise functionally indistinguishable from the iPhones of years past.
In the end, a smartphone is still just a smartphone; they only have so many capabilities, and there aren’t many significant distinctions between models. But this is where Apple’s marketing strategy, which emphasizes the product’s most valuable features, really shines.
Apple has consistently upgraded the iPhone’s essential characteristics to make it more powerful with each new model while maintaining the company’s signature aesthetic.
Apple may highlight the higher processing speed of its product in some advertising materials. But in this industry, it is the features that customers care about most, not the benefits.
5 Basic Tips for Selecting Product Features
Whether a brand-new startup or a well-established business, you will always face a deluge of feedback and suggestions for additional product features. A ranking system must be implemented to get the most out of ideas.
This can be a difficult process because so many people have a vested interest in seeing that the proper product features are developed. Here are six guidelines to help you select a product feature suitable for your company.
1. Keep Your Eye on the Business Goal
A good product manager will ensure that product changes align with the company’s long-term goals. It may be required to frequently coordinate activities and remind stakeholders of the product’s intended trajectory. Doing so will make it simpler to collect valuable product ideas and win over critical decision-makers.
2. Verify Concepts With Justifications
Many sources can inspire. Ideas can come from any department in your business, through idea testing, or from polling your customers. No matter the origin, it’s critical that concepts are communicated without ambiguity.
Someone may propose a function without providing any justification for its inclusion, for instance. Confirming that person’s opinion on how a product’s new feature would improve it will help demonstrate its value.
3. Harmonize Similar Concepts
Since several people are likely to submit similar concepts, it may make sense to pool their suggestions into a single group. However, you should proceed with caution.
You shouldn’t combine similar ideas if you don’t want to lose specifics in the process. Put the main idea first, then any sub-ideas related to it, in separate groups. By doing so, you can remember useful information that may be used to evaluate the importance of a given product feature.
4. Make Use of a Grading Scale
The time has come to begin rating each suggestion. To effectively manage a product, managers must focus on two metrics: effort and impact. By thoroughly understanding and ranking the result and effort of a product idea, it will be easier to remove or welcome ideas. For example, Idea A could have a significant impact but be expensive and not return an ROI as effectively as Idea B.
Possible issues that may arise when developing a scoring scheme include the following:
How much money or profit do you think this will make or lose?
Does this function foster brand loyalty? Is it to entice potential new buyers? Do they have a need that it fills? How much time and money will it take to roll out this enhancement? Does the group have what it takes to implement this feature? How much does it cost to keep this option active?
5. Make Your Choice
After finalizing the scoring system, you should know which product characteristics will benefit the firm most.
When stakeholders disagree on which solution is preferable, reaching a consensus and making a choice can be difficult.
An idea must be elevated to a product feature status before the team undertakes concept testing and know what to build.
Ensure you give stakeholders some feedback. Those that submit concepts want to know why their work was turned down. Justifying a decision promotes openness and discussion within an organization.
To Wrap Up
When researching product features, the most important thing to remember is prioritizing each feature for the business goal.
All you have to do is find the best features and ensure you’re creating a functional and feasible product.
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