FAB (features, advantages and benefits) Analysis model is a systematic approach to evaluating the value of something. It can be used for products, services, and ideas.
First, you identify the key features of the product or service. Then, you look at what advantages these features bring and what benefits they provide. From these lists, you can evaluate whether the product or service would be valuable to potential customers or users.
Here are the steps to using the FAB Analysis successfully:
Start by making a list of all the features associated with the product/service. These should include both tangible and intangible aspects such as design, size, performance, brand and customer service.
For each feature, evaluate the advantages of having that particular feature. Consider factors like cost savings, increased productivity, improved usability and improved ease of use.
Finally, consider the benefits that the advantages will provide. This could include a better user experience, a more reliable product or even higher profits.
By going through these steps, you’ll be able to effectively evaluate the value of your product or service.