What is Product Knowledge? Its Benefits and Elements

Product knowledge is one of the mainstay weapons for those of you who work in marketing and sales.

When a company sells a product, it is important for employees to have knowledge about the product and what problems they solve.

Especially for marketing and sales employees, understanding this one thing can make it easier for them to offer products that suit customer needs.

Mastery of this matter is also important because when customers do not get a satisfactory answer, they can turn to competitors.

Therefore, let's understand the definition, benefits and elements of product knowledge below.

Definition of Product Knowledge

Product knowledge is the process of a team studying a company's products so that they can explain them effectively to customers.

This is not limited to information about the product alone. External factors such as industry trends, brand value, competitors and customer experiences that influence decisions are also included in it.

Product knowledge is usually studied more deeply by people who are in positions that deal directly with customers.

Employees usually undergo product knowledge training to learn how to answer customer doubts and questions.

The training also includes ways to convince customers that the company's products are the best solution for their needs.

With this knowledge, the sales team can satisfy customers and encourage them to make purchases or repeat purchases in the future.

Benefits of Product Knowledge

Mastering product knowledge will provide several benefits both in the short and long term for your business, including:

Helping sales provide accurate information

When employees have a strong understanding of each product, they will find it easier to answer customer questions. So they can provide factual information about the product.

By receiving the right product information, customers can make purchases better and more strategically.

Increase enthusiasm and drive sales

If employees understand the products they sell, they will tend to be more enthusiastic when presenting them.

This enthusiasm will generate a positive response from customers.

Enthusiasm can also eliminate doubts because the information conveyed is more convincing. Ultimately, customers can take action to purchase after the presentation process takes place.

Building customer trust

Providing the right product information to customers helps improve the image of employees as reliable sources of information.

This can be even more beneficial if the relationship starts from online information that is presented well by employees offline.

Especially if the presentation is accompanied by a demonstration. Showing how the product works directly can strengthen customer confidence in the quality and performance of the product.

Giving a deep impression

Mastering product knowledge will make employees look reliable in their field. Especially if employees can provide several alternative solutions to customer problems.

This reliability and service will increase trust and leave a deep impression on customers.

A positive relationship between employees and customers will strengthen the impression and encourage customers to return to shop in the future.

Improving Brand Identity

Brand identity is a collection of elements created by a company to depict the right image to its customers.

With a good presentation of product knowledge, employees will convey messages consistently, thereby creating a brand image that influences brand identity.

A good brand image will make the product more recognizable to customers.

Elements of Product Knowledge

Here are the elements that make it up:

Product research

Research data that is the background for making a product is important to be included in product knowledge.

Products that are made based on research appear more credible and serious in solving customer problems.

This data can also increase customer understanding of the best solution to their problems.

Unique Selling Proposition (USP)

A Unique Selling Proposition (USP) is a unique element that differentiates your business from competitors. The content can be a brief explanation that describes the product proposition, highlighting the main features, benefits and unique selling points.

A good USP makes the presentation process more effective and customers are more easily convinced.

Accurate exposure to the USP can also create a positive assessment of the product, even if the price is higher than similar products.

Competitor analysis

Every industry usually has more than two businesses that provide similar products or services.

Therefore, you need to know how you can differentiate yourself from the others.

The information is focused on how your product's strengths can fill in the weaknesses of other products.

This information can provide added value when customers are comparing your product with several similar products.

Sales analysis

A good sales history can also be included in product knowledge. Information such as which products sell the most and the reasons behind them can be used as good presentation weapons to customers.

A history of successful sales of a product can convince customers about which products are trusted by many people.

Customer behavior

Customer behavior is also important to consider in compiling product knowledge.

What their problems are and how your product is the solution to those problems will be an added value during product presentations.

This is also useful so that employees can respond to questions according to customer preferences. More personalized service helps create a more positive customer experience.

That's the information you need to know about what product knowledge is, the benefits and elements that must be in it.

Compiling the right product knowledge will make your business ready to compete with other similar businesses.

Nowadays, competition will be easier to win by applying the right business plan.

If you want to have comprehensive skills in designing a business plan, follow the short program Business Development Planning from prasmul-eli.

In the three-day program, the scope of learning includes:

• Business planning overview
• Business competition and its environment
• Business opportunities and scenarios that must be prepared
• Company goals and competitive strategies
• Marketing
• Company operations and Human Resources
• Finance

Register yourself through the following link to take this class which will be held online and offline.