Product Knowledge: Definition, Benefits, Functions, Examples, How to improve it

Product knowledge is one of the important things that need to be mastered by sales and marketing teams, considering they are the spearhead of the company in sales.

Without good product knowledge, it will be very difficult to convince customers or clients that they are buying the right product and it is very beneficial for them. For this reason, we have compiled for you in-depth information about product knowledge. Let’s see below!

What Is Product Knowledge?

Product Knowledge
Product Knowledge

Product knowledge is the understanding of all product information related to price, advantages and disadvantages, and other information that is marketed.

Knowledge about this product is very important to have by a sales representative or marketing, because they are the ones who will deal directly with customers or clients.

By having a good product knowledge, then a sales representative can market the product so as to encourage sales.

Understanding product knowledge is not only owned by people in the field of marketing or sales.

From the consumer side, product knowledge refers to the accepted understanding of the product, such as terminology, features, prices, to the beliefs that drive them to buy.

Mastery of product knowledge is mandatory for marketing and sales teams. This is important because of their product knowledge can convey clearly all the value of the product offered so that consumers trust more.

What Are The Benefits Of Product Knowledge?

Having knowledge about the product certainly brings many benefits to the business. Here are the benefits of product knowledge.

  1. Provide accurate information

When the sales team has a deep knowledge of the product, they can convey information to customers accurately. Likewise, when customers ask questions, they can provide detailed answers.

In this way, consumers will get detailed and accurate information that can help them make decisions to buy products.

  1. Growing A Brand’s Confidence

Self-confidence is an important aspect in building their image.

Therefore, good product knowledge is the basis for brands to increase confidence in implementing marketing strategies.

With in-depth knowledge of the product, it can avoid the delivery of uncertain information and create a better relationship with consumers.

  1. Increase Brand Identity

Strong Brand identity is also supported by good product knowledge.

This means that an understanding of the uniqueness of the product, the values of the company, and how the product can meet customer needs becomes a solid foundation for forming a positive brand identity.

  1. Increase enthusiasm and sales

When you have a team that is able to understand and show enthusiasm for the products they sell, then customers will respond more positively. As a result, customers become more interested in making purchases.

  1. Creating Brand Awareness

Another benefit of product knowledge is being able to create brand awareness. This is important because consumers are more interested in buying products from brands they already know.

Product Knowledge Function

In the business world, product knowledge has several important functions, as follows:

  1. Increase Consumer Confidence

With good product knowledge, you can explain the product to customers accurately and in detail.

This will make customers feel more confident about your product and make better purchasing decisions.

  1. Speed Up Conversion

Good product knowledge allows you to address customer doubts and questions quickly and efficiently. This can help shorten the sales process and increase conversions (conversion rate).

  1. Increase Sales Figures

The better your knowledge of the product, the better you can sell it. You can identify customer needs and recommend the right products for them. This can ultimately help increase your sales.

  1. Increase Product Differentiation

In a competitive market, good product knowledge can help a company to differentiate itself from competitors.

By understanding the advantages of the product and its unique features, the company can stand out in the market and attract the attention of consumers.

  1. Help With Marketing Strategy

By having good product knowledge, marketing strategies can be run more effectively. This is all because it can be achieved because companies can target the right consumers and deliver more effective marketing messages.

Product Knowledge Examples

Having a good understanding of the product will not only help you in running product marketing more effectively, but also can help determine the Unique Selling Point (USP).

Here are some examples of product knowledge and factors in it that need to be considered.

  • Product value: knowledge about the value of the product that distinguishes it from similar products from competitors.
  • Product pricing: know exactly the reason for pricing the product in order to be able to explain the value of the product to consumers.
  • Product life: concerns the possibility of deterioration in quality or quality along with use or time.
  • How to use: an understanding of how to use the product and the aspects of functionality that support sales.
  • Product attributes: recognize the physical attributes and visual identity of products ranging from model, size, and color that influence consumer purchasing decisions.
  • Product history: knowing how a product has evolved over time, gives an idea of the sustainability and reputation of the brand.
  • Product manufacturing process: recognize each stage of product manufacturing production that helps consumers understand product quality.
  • Product benefits: knowledge of what consumers feel when using the product.
  • Product service: understanding the type of service that supports a product, such as a warranty or repair guarantee.
  • Additional features: relevant additional features that can meet consumer expectations.
  • How To Increase Product Knowledge
  • As an important thing to be owned by everyone in the company, of course increasing product knowledge is one of the things that cannot be ignored to do.

Here are some ways to increase product knowledge that you can try:

  1. Socialize regularly

The first way to improve product knowledge is to regularly socialize with the sales or marketing team. Encourage them to be able to understand how important product knowledge is to support the sales process.

In addition, try to hold training regularly so that it can add insight to team members about the product and the various aspects in it.

  1. Identify product categories, types, and variants

Recognizing each category, type, and variety is also a way to foster better product knowledge.

To be able to recognize one by one these things, try to analyze in depth about the product. From this analysis try to understand the characteristics, benefits, and added value that the product offers.

  1. Perform Usage Simulation

Simulating the use of products can also be a way to improve product knowledge. Here you can invite the team to be directly involved with the use of the product.

  1. Provide Specific Documents

Another way that can be done to grow product knowledge is to provide a special document that contains a complete explanation of the product. This document can be a brochure, product guide, or presentation material.

With a good understanding of the product, it will be easy for the sales team or marketer to be able to attract customers. Therefore, make sure your sales or marketing team is filled with qualified employees.

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