Mention the main features of a product. Explain any two in detail.

Features of a Product:

1. Tangibility
2. Associated Attributes
3. Life Cycle
4. Exchange Value
5. Need Satisfaction

Two features explained in detail:

1. Tangibility: A product is tangible because it has a definite physical existence. It is made of certain physical attributes such as shape, size, colour and weight. It can be seen, touched and felt before purchase. For example, a car can be seen, its colour observed, its seats touched, and a test drive taken — all before the buyer makes the purchase decision.

2. Associated Attributes: In addition to physical features, a product has certain associated attributes which help customers to distinguish it from other competing products. These include the package, brand name, trademark, warranty, after-sale service and the prestige of the manufacturer or retailer. For example, a Colgate toothpaste is recognised not just by its physical features but also by its brand name, distinctive package, and reputation.