“Feature Bloat” on the HBS review talks about keeping your product clear and simple. On the outside it appears to be a fairly simple thing to do. But to boil a product or service down to this level takes a deep understanding of the end user, and to subsequently address his/her needs before requirements.
To think of it, this concept captures some key basics of managing a successful product such as product consistency, ease of use (though some may like it complex), and building expectations that can be met. ipod, the garage door remote control, and Wikipedia are pretty good examples of products/services that get the job done without frustrating or guess working the user.
But to add a layer to this article, I have always been in love with Excel and Google. The reason being both are designed so well they can be molded by the user to fit his/her needs, and grow with changing and increasing requirement. When I started using the Excel sheet, to me it was just a table, but as I grew up it grew with me to help in Poisson distributions, decision trees etc. That is a great product.