Which term refers to the features of a product that meet consumer needs?

The term that refers to the features of a product that meet consumer needs is utility. Utility encompasses how well a product satisfies the consumer's requirements or desires, which can include aspects such as usability, convenience, and effectiveness. When a product provides utility, it means that it offers value and fulfills the specific demands or needs of consumers effectively.

While functionality, quality, and design are related concepts, they do not entirely capture the essence of how features translate to consumer satisfaction in the same way that utility does. Functionality refers more specifically to how well a product operates or performs its intended tasks, quality pertains to the standard of the materials and workmanship involved, and design focuses on the aesthetic and structural aspects of a product. Utility, on the other hand, is a broader concept that combines these elements to indicate overall consumer satisfaction.