Posted in Marketing and Strategy Terms, Total Reads: 832
An attribute can be defined as a characteristic or feature that a product has which can be thought of as being appealing to customers.Attributes can include properties like size, color, features,functionality, components that affect the product’s acceptance in the market. For example, attributes of green tea may include its aroma, taste, color, price, shelf-life, health benefits, packaging and presentation, etc. Attributes can have only two possible ratings (negative or positive) i.e. they can be acceptable or unacceptable, desirable or undesirable, good or bad, etc.
Attributes affect a consumer's purchase decision. Product attributes can be tangible (physical in nature) or intangible (not physical in nature).
Tangible attributes may include product characteristics like Size, Color, Weight, Volume, Smell, Taste, Touch, Quantity, Material composition. For example- while buying a Honda City, if you are looking for a glossy silver paint with leather interior and alloy wheels, you are searching for the product based on its tangible attributes.
Intangible attributes may include like Price, Quality, Reliability, Beauty/aesthetics etc. For example- while buying the Honda City, if you look for attributes like the car’s price, its quality or durability and its safety test scores, you are searching for the product based on its intangible attributes.
A consumer compares his needs and desires against the attributes of products available and then select that product which best matches his needs and wants.