Features, Advantages and Benefits (FAB) are key concepts in sales and marketing and refer to various aspects of a product or service. Here is a brief explanation of each term:
-
Features:
- Description: Attributes are the measurable or observable characteristics of a product or service. It may include specific features, size, color, technical specifications, etc.
- Application: Salespeople often communicate product features to give customers a basic understanding of what the product can do.
-
Advantages:
- Description: Benefits refer to how the product's features meet the customer's needs or solve their problems. It is more focused on what the customer gets out of the product.
- Application: Sellers not only sell features, but also highlight how those features translate into concrete benefits for the customer.
-
Benefits (Value):
- Description: Benefit is the overall value or utility that the customer obtains by using the product or service. It is the final positive impact on the customer's life or business.
- Application: Salespeople focus on communicating the overall benefits or values that the customer will experience by investing in the product.
Example:
- Feature: A smartphone with a powerful processor and a large screen area.
- Advantage: Faster performance and larger screen for more efficient work and better entertainment.
- Benefit: Increased productivity and improved user experience, which makes everyday life and work easier and more satisfying.
Understanding and effectively communicating these three elements is critical to convincing customers of the value of your product or service. Salespeople often seek to move from focusing on features to highlighting benefits and finally showing how those benefits deliver a meaningful payoff for the customer.