Question

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

Answer 1

A product means anything tangible that can be offered to a market for attention, acquisition, use or consumption that can satisfy a want or need. It consists of physical objects and tangible attributes such as colour, package, manufacturer's name, retailer's prestige, etc. 

Main features:

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

The features of a product are given below:

1. Tangibility: A product is tangible. It has certain physical attributes, such as shape and size, and can be seen, touched, and felt.
2. Associated Attributes: Besides physical features, a product has certain attributes that help customers distinguish it from other products. These attributes include package, brand name, warranty, etc.