The basic product is the product stripped down to its essentials, and is often referred to as the FAB; Features, Attributes and Benefits. Features are qualities or characteristics of a product, whereas attributes are features presented in away that add value from the customers perspective. Benefits are the favourable results customers expect to obtain by using a product.
Product attributes reside in the product and can be tangible in the product or intangible - a service aspect of the product. Benefits reside in the customer and are always abstract they are often the result of a cluster of product attributes, some of which may be abstract attributes. Benefits can be seen as being Functional - deriving from product features and attributes, Symbolic – deriving from performance expectations and Experimental - deriving from actual usage of the product.
For example, a drink may have high caffeine content (a concrete attribute), whilst a computer has a quad core processor making it able to multi-task and get more done, faster; we would characterise this intangible attribute by using the term performance."