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If you are building a lot of similar Drupal sites, you may find yourself rebuilding a lot of the same content types, views, and panel pages. Features Module helps solve those problems by allowing you to export those content types, views, panel pages, and other settings, into a Drupal module.
The next time you need that functionality, simply drop in and install your Drupal features module and you will be good to go.
There is an even deeper level of respect for this module when you start talking about development/staging and live/production environments. If you create a content type and view in a development environment, and want to get that synced to the live environment, there is no better way than the Drupal features module.
This module gets version controlled and can easily be pushed to the live environment. If you aim to become a serious Drupal developer, you can't live without the feature module.
Demo ( Ex: menu structure) :
Step 1 : Installed and enable the Feature Module from which website need the menu structure (Taken main menu) from one of the Website.
Step 2 : Go to Structure>Features, below select the menu links which are you want, including drop down menus.
Step 3 : After selection of links click on download, It gives the .tar file.
Step 4 : Upload the .tar file Which project You want, before that need to install the feature module at there.
Step 5: once the upload is done just visit Your menu Structure ( Main menu). the links r updated with the copied website menu path, change the menu path to current website.