Understanding Product

Product

understanding

Product A good, method, information, object or service created to serve a need or satisfy a want.

Example Needs/Wants

Example Needs/Wants

Phone Service

Example Needs/Wants

Phone Service

Music

Example Needs/Wants

Phone Service

Music Entertainment

Example Needs/Wants

Phone Service

Music Entertainment

Product =

Example Needs/Wants

Phone Service

Music Entertainment

Product =

Feature A physical characteristic or quality of a product, a description of something a person can touch, feel, smell, see, or measure.

Example

Benefit The satisfaction that a customer wants

from a good or service.

Benefit A benefit that is easily recognizable.

Obvious

Example

No stylus means there is no extra parts that could be lost and needed

to replace.

Benefit Benefit that come only with the purchase of a particular product.

Unique

Example

Finger print identity scanner for added security.

Benefit Benefit that is not usually seen without

the assistance of a salesperson.

Hidden

Example

iPhone 5 has 13 LTE Bands for faster download and

upload speeds.

Selling Part of a sales presentation

where the salesperson points out that a good or service has

features that will benefit the customer.

Feature/Benefit