Final answer:
The correct answer is C. Features, functions, benefits, representing the tangible and intangible elements that contribute to product differentiation and influence consumer preferences. Intangible aspects include satisfaction guarantees, brand reputation, and the effect of advertising on customer perceptions.
Step-by-step explanation:
Product attributes define the aspects that make a product appealing to customers and can include a variety of features, services, or even intangible elements that distinguish it from competitors. The correct answer to the question is C. Features, functions, benefits. These attributes can be tangible, like the physical aspects of a product, or intangible, such as a brand's reputation for quality, guarantees of satisfaction, and customer services like free delivery that can tip the scales in its favor.
Moreover, differentiation through intangible aspects involves elements that, while not immediately apparent, influence customer perception and choice, such as past habits shaped by advertising. For instance, though some consumers might not distinguish between flavors of beer or cigarettes when blindfolded, strong brand preferences exist because of advertising and personal experiences. All these elements come together to formulate a product differentiation strategy, making a product distinct and more desirable in the consumer's mind.