Product Knowledge

Posted in Marketing and Strategy Terms, Total Reads: 1909
Advertisements

Definition: Product Knowledge

A better understanding of the product or service offered by a firm that includes gathering information about the characteristics, functional features and use of the offerings is called product knowledge. Any sales pitch requires better understanding of the offerings which includes product knowledge too. Product knowledge leads to better penetration of the product information to the potential customers.


There is a saying that knowledge is power and product knowledge can be transferred to more sales. The benefits that can be reaped by the retailers due to product knowledge as follows:

1. Strong communication: better knowledge about the product on shelf help a retailer to use various techniques to communicate the product or brand message to the customers which can boost sales.

2. Boost of enthusiasm: Greater knowledge about a product induces similar enthusiasm among the potential customers which might provoke purchases.

3. Better service: customers can be better served if the retailers or service providers are better equipped with product knowledge.

 

Advertisements



Looking for Similar Definitions & Concepts, Search Business Concepts