What do features refer to in the context of a product?

Features in the context of a product refer specifically to the attributes or characteristics that define the product and distinguish it from others in the market. These features can include various elements such as quality, design, functionality, and usability that inform consumers about what the product offers.

Understanding product features is crucial for both consumers and marketers, as they help convey the value and benefits to the target audience. When a product has specific features that align with consumer needs and preferences, it can enhance the product's appeal and drive purchasing decisions. For instance, a smartphone may be marketed based on its camera quality, battery life, and screen resolution — all of which are features of the product that give it specific capabilities and attract potential buyers.

The other options focus on different aspects of marketing and product positioning. For example, pricing and promotional strategies involve the approach to marketing and selling products rather than describing the product itself. Consumer insights pertain to the understanding of customer behavior and preferences, which, while important for marketing strategy, do not define the product's features directly. This reinforces the understanding that features are intrinsic to the product's identity and value proposition.