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What is Product Knowledge? Complete Understanding and Examples!

Knowledge of products is something that you must understand if you are a marketer. Marketers certainly work within the scope of marketing by selling various products that will be offered.

Just imagine, when you don’t know product knowledge, then consumers ask about the products offered, can you answer them? If not, you are prepared to lose one customer at a time.

Then, what exactly is product knowledge? How important is product knowledge to your business? Check out the explanation below!

Knowing What Product Knowledge is

Product Knowledge is knowledge about information in a product. In other words, all the information is related to the product being sold so that it can encourage a purchase. 

Therefore, a business team is obliged to really understand the product, starting from the price, benefits, and pluses and minuses of the product. 

The product knowledge must be conveyed as a guide to the products it offers to consumers. So, if consumers do not know information about a product, then later consumers can be wrong in making decisions.

Why Does Your Business Need to Know About Product Knowledge?

Product knowledge makes it easier for the business team to present their products to consumers. The product information can be conveyed properly so that it can increase trust in the products offered. 

In addition, indirectly a business team can improve their sales skills. A business team must explain it confidently and confidently, so that the more detail the consumer knows about a product, it will make consumers more motivated to buy the product.

Some Benefits of Knowing Product Knowledge

a. Growing Confidence in a Brand

Self-assurance, or confidence, is the firm conviction that one is competent in a given situation. Self-confidence has many benefits and prevents anxiety, worry, and low self-esteem. The benefits of self-confidence will provide a positive boost to yourself and those around you.

b. Improving the Team’s Ability to Communicate

The ability to communicate well is important to convey and understand the information correctly and accurately. However, if a business team has poor communication, they are worried that the information will not be conveyed properly, resulting in miss communication.

So, when a business team can convey information about a product to be offered smoothly. Automatically, the ability to communicate with the business team is quite good.

c. Improving a Better Brand Identity

All businesses want their company’s image to be well known. A business team can build it up to success. By knowing your own products, you will automatically find out about products owned by competitors. That way, the company will develop so that the product reaches its best shape. 

d. Increasing Consumer Confidence in Brands

When a business team has succeeded in building trust from consumers, your business will definitely get more consumers who come back to buy their products again. These consumers can recommend it for free to the people closest to them.

Consumers will voluntarily promote the products or services that are sold because they have had a good experience with the products or services of your company. 

What are Examples of Factors in Product Knowledge

a. Product Value

You need to know the value of a product before offering it to consumers. Value itself will be a comparison of your product with similar products belonging to competitors. 

b. Product Price The

price of a product is a measure of the size of a person’s satisfaction with a product. Consumers do not hesitate to dare to pay dearly for a desired product if the product has a guarantee for its quality. 

For example, you know the production of a limited edition product (limited edition), then you can provide a higher price with other products. 

Even though buyers spend more money, they will feel satisfied because the product is not the same as other products. 

c. Product History Product

history plays a major role in why the product can be made. This is the stage where the product develops. For example, the first time a company has only one type of product. 

Then, with rapid development, the company added several other types of products by adding flavor variants or color variants. So that consumers also have many choices for these products.

d. Age of Product

Every product must have an expiration date which is the maximum limit for safe products for consumption. This is related to a decrease in quality or product quality. For example, changes in taste or other sensory attributes (color, aroma, texture). 

e. Product Manufacturing Process Product

manufacturing process is an activity to process using equipment to produce a product. Where, this production also adds and increases the use value of a product. So as to produce goods or services that are beneficial to consumers. 

f. How the Product is Used

A product must have a use value that will be higher depending on the function of the product. This function includes how the product is used or consumed by consumers.

g. How Products Can Be Beneficial

This includes what consumers feel and enjoy through purchasing a particular product or service. A product is generally seen as capable of providing one or more benefits to consumers. 

For example, from a running shoe product, consumers get functional benefits in the form of good grip. But on the other hand, there are non-functional benefits, namely the benefits of self-expression because it provides a style to allow consumers’ self-expression. 

h. Product Services (Repairs, Warranty, etc.)

Every company must have services provided for the products it offers. Does the company have any responsibility for the damage that occurs to the product. However, usually this kind of service has a period limit with certain conditions.

i. Product Attributes (Model, Color, Size, etc.)

Product attributes are physical aspects of a product or service that can be seen or felt. Examples are the color of a computer bag, the shape of the car’s exterior, the pattern of women’s clothing, and so on. As with services, service attributes can be seen from the reputation and the price to be paid to obtain services.

j. Add-Ons or Other Additional Products

Do you know any well-known detergent products that are known and used by many people? The product is Daia detergent which is believed to be able to work all out in cleaning stains without damaging the color of clothes. 

They use promotions by providing another added bonus in the form of beautiful plates when buying the detergent product. This makes consumers interested because they get additional products in the form of beautiful plates just by buying laundry detergent.

Ways and Tips to Maximize Product Knowledge

a. Routine Socialization

Every individual needs a means of recognition, recognition, and adjustment. Therefore, a business team must continuously socialize with the team that is directly related to the sales process. Thus, the needs of consumers can be provided properly and on target.

b. Understanding the Type of Product

Tips for maximizing product knowledge to be more optimal is to understand the main aspects of product knowledge. For example, accurate knowledge of the characteristics, benefits, and pluses of the product.  

c. Creative Thinking in the Long Term

Think creatively and long term to pay attention to the movement of competitors to collect new information from the products to be offered. 

It aims to create various creative ideas in order to develop products for the better. Keep in mind, product knowledge is the most important part in business because it has a big impact on the sales process. So, make sure your business team has good product knowledge.

Conclusion

Knowledge about products is something that you must understand if you are a marketer. A marketer must explain it with confidence and confidence. The more detailed the consumer knows a product, the more motivated consumers are to buy the product.

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