The features of a product are given below:
1. Tangibility: A product is tangible. It is made of certain physical attributes such as shape, size, etc. It can be seen, touched and felt.
2. Associated Attributes: In addition to physical features, a product has certain attributes which help customers to distinguish it from other products. Package, brand name, warranty, etc., are such associated attributes.
3. Life Cycle: Every product has its life cycle which consists of introduction, growth, maturity and decline stages.
4. Exchange Value : A product has some value which can be measured in terms of money.
5. Need Satisfaction: Every product is meant to satisfy some human need.