What term refers to what the product of a feature does?

The term that refers to what the product of a feature does is typically understood as "Benefits." Benefits highlight the practical advantages that customers gain from using a product's features. Essentially, features are the characteristics of a product, while benefits explain how those characteristics can improve the user's experience or solve specific problems.

For example, if a feature of a pest control product is that it uses environmentally friendly chemicals, the corresponding benefit would be that users can protect their home from pests while being safe for their children and pets.

Utilities and advantages may describe aspects related to usefulness or favorable conditions associated with a product, but they do not specifically capture the direct value that customers receive from what a feature accomplishes in their daily lives. Outcomes might reflect the results or effects of using a product but do not directly relate to the inherent benefits derived from its features. Hence, the most appropriate term that conveys this relationship is benefits.