A feature is an identifiable component of your product. For instance, a pen has several features: a grip, a ball point, a pocket clip, and a lid. All comparable competitive products probably also have the same or similar features. Features themselves do NOT distringuish you from the competition.
Advantages are along the logical path of "What's In It for Me?", however they don't get to the core Benefit. For instance, my pen has a pocket clip. That's a Feature. The Advantage is: it keeps the pen from falling out of my pocket. That's definitely an Advantage. But "WHY". If I can ask "why?" then that's not a benefit yet. Well if it doesn't fall out of my pocket, then I won't lose it. (Still an advantage). Because if I lose it... I have to go buy another one.
Benefits: The ultimate benefit is the last line of reasoning along the path. So I lost my pen. Now I have to go buy another one... so now I waste Time, and Money. If only I had bought a pen originally that had a pocket clip I would not waste Time and Money. The ultimate benefit in a pocket clip then, is it saves me Time and Money. That's "what's in it for me". Therefore this is a benefit.
You can sell benefits. Customers understand benefits. Features are useless in themselves, unless there is a Benefit at the end of the line of thought of Advantages.
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