Although it is a bit difficult to remember so much of the information as given below, however you can just glance through the contents & present the maximum out of it as per the memory in the event such a question is asked.
Following description has been taken from the Mercury Interactive "How it Works" section of the QTP web page:
QTP provides an interactive, visual environment for test development. Mercury QTP allows even novice testers to be productive in minutes. You can create a test script by simply pressing a Record button and using an application to perform a typical business process. Each step in the business process is automated documented with a plain-English sentence and screen shot. Users can easily modify, remove, or rearrange test steps in the Keyword View.
QTP can automatically introduce checkpoints to verify application properties and functionality, for example to validate output or check link validity. For each step in the Keyword View, there is an ActiveScreen showing exactly how the application under test looked at that step. You can also add several types of checkpoints for any object to verify that components behave as expected, simply by clicking on that object in the ActiveScreen.
You can then enter test data into the Data Table, an integrated spreadsheet with the full functionality of Excel, to manipulate data sets and create multiple test iterations, without programming, to expand test case coverage. Data can be typed in or imported from databases, spreadsheets, or text files.
Advanced testers can view and edit their test scripts in the Expert View, which reveals the underlying industry-standard VBScript that QTP automatically generates. Any changes made in the Expert View are automatically synchronized with the Keyword View.
Once a tester has run a script, a TestFusion report displays all aspects of the test run: a high-level results overview, an expandable Tree View of the test script specifying exactly where application failures occurred, the test data used, application screen shots for every step that highlight any discrepancies, and detailed explanations of each checkpoint pass and failure. By combining TestFusion reports with Mercury Quality Management, you can share reports across an entire QA and development team.
QTP also facilitates the update process. As an application under test changes, such as when a "Login" button is renamed "Sign In," you can make one update to the Shared Object Repository, and the update will propagate to all scripts that reference this object. You can publish test scripts to Mercury Quality Management, enabling other QA team members to reuse your test scripts, eliminating duplicative work.
QTP supports functional testing of all popular environments, including Windows, Web, .Net, Visual Basic, ActiveX, Java, SAP, Siebel, Oracle, PeopleSoft, terminal emulators, and Web services.
People like QTP and now prefer implementing it over WinRunner. When you get into advance testing scenarios, QTP has more options and they are easier to implement compared to WinRunner in our opinion.
Do to the similarities in concept and features, an experienced WinRunner user can easily convert to QTP and quickly become an efficient Test Automation Engineer!
We recommend that existing customers begin all new development with QTP and use the built-in feature of calling WinRunner scripts from QTP for all existing WinRunner scripts that they already have. As older scripts require updates and time permits, we recommend replacing them with QTP scripts. Eventually you will be able to convert your test script library with all QTP scripts.
# Will be getting the initial focus on development of all new features and supported technologies.
# Ease of use.
# Simple interface.
# Presents the test case as a business workflow to the tester (simpler to understand).
# Numerous features.
# Uses a real programming language (Microsoft’s VBScript) with numerous resources available.
# QTP is significantly easier for a non-technical person to adapt to and create working test cases, compared to WinRunner.
# Data table integration better and easier to use than WinRunner.
# Test Run Iterations/Data driving a test is easier and better implement with QTP.
# Parameterization easier than WinRunner.
# Can enhance existing QTP scripts without the "Application Under Test" being available; by using the ActiveScreen.
# Can create and implement the Microsoft Object Model (Outlook objects, ADO objects, FileSystem objects, supports DOM, WSH, etc.).
# Better object identification mechanism.
# Numerous existing functions available for implementation – both from within QTP and VBScript.
# QTP supports .NET development environment (currently WinRunner 7.5 does not).
# XML support (currently WinRunner 7.5 does not).
# The Test Report is more robust in QTP compared to WinRunner.
# Integrates with TestDirector and WinRunner (can kick off WinRunner scripts from QTP).
# Currently there are fewer resources (consultants and expertise) available due to QTP being a newer product on the market and because there is a greater Demand than Supply, thus fewer employee/consulting resources.
# Must know VBScript in order to program at all.
# Must be able to program in VBScript in order to implement the real advance testing tasks and to handle very dynamic situations.
# Need training to implement properly.
# The Object Repository (OR) and "testing environment" (paths, folders, function libraries, OR) can be difficult to understand and implement initially.