What term refers to what a product has?

The term that specifically refers to what a product has is "features." Features encompass the various characteristics and functionalities that a product offers to users. They describe what the product is capable of doing or the components and qualities it possesses. For example, in the context of a smartphone, features might include its camera resolution, battery life, screen size, or built-in storage capacity.

While benefits relate to how features fulfill customers' needs or improve their situation, they do not directly answer what the product constitutes. Specifications typically refer to detailed, technical descriptions of features, while attributes might convey a broader, more subjective set of characteristics that describe the product's qualities. Therefore, features are the most precise term to denote the concrete elements that a product has.