Product features are very discrete parts of newly updated and new functionality that provide more value to your consumers. You may think of them as miniature gifts for your products. Generally, features would pertain to hardware, applications, user interface, and system performance upgrades. They could be anything new or added that enhances the product’s role in the market. However, features in a software are usually classified under design features and user interface features.
Design Features The design features are what make the product’s look attractive, functional, and versatile. They can also give your potential buyers a clear idea of what they can expect from you. A common design feature is product messaging, which is the visual means of sharing a product description, technical specification, and other important information about a certain feature. Design features may also include benefits or freebies. In the same way, user experience features are the ones that make a certain feature useful, enjoyable, or convenient. They will help consumers find what they need right away.
Benefits Every feature mentioned above has tangible, as well as intangible benefits. An example of a tangible benefit is the freebie or a free update. On the other hand, intangible benefits are earned reputation, credibility, and trust from the end users or even from a third party. These are all the result of a business plan’s strategy and execution. For instance, if a new feature is introduced and becomes popular, a business plan will definitely have a good outcome because the company will gain publicity, improve its reputation, and receive free updates as a result of this positive scenario.
User Interface The main reason why people buy a product is because of how it makes their lives easier. A lot of people want to experience those benefits first-hand. With a good user interface, this can happen. So, companies should always pay attention to its design and functionality. Aside from making the product easier to use, a better user experience will also make it more appealing to customers.
Product Features This benefit is related to the functionality. Businesses should consider whether or not a given feature is necessary. If a given feature is not really a benefit to the company, then it should be removed. However, it should be included if it will make life easier for the company. For example, the removal of a feature like an online store would result in the company losing a lot of potential customers.
Overall, the benefits of having a business plan is to have something that will define each step of the process. Each feature is intended to do one thing: increase profits. However, there are a lot of things that can affect the company’s profits, so it is important to know these things well. In addition, there are some features that are considered to be freebies, and they only benefit the company if customers take them up. Taking these things into consideration and balancing them with the other features will help business owners come up with the most effective product features to include in their plans.