Product Knowledge. 1. Required fields are marked *, Copyright © 2020 Marketing91 All Rights Reserved, Product Knowledge – Meaning, Importance and Types, Capacity Utilization Rate - Definition, Meaning, Importance. Acquiring adequate knowledge about the law as it concerns your business is a good way to ensure that your business dealings are legitimate. Product Knowledge gives Additional Offers. When representatives know their stuff, they’ll be able to outline all the key features and highlight the advantages of purchasing a particular product or service. Knowledge management isn't a passing management fad. Importance of Product Knowledge. There are three main reasons why import and export businesses are important. Content Development, Instructional Design. "Product knowledge" is understanding the items and services which your employer sells. It would help if you had proper and smooth communication within the staff as well as with the clients and customers. With such a small margin of difference in the product itself, companies are realizing that they can make up for the difference in other areas. That is where product knowledge comes into play. If your team is educated on these negative perceptions ahead of time and have prepared responses for them, the answer the customer receives will be very powerful and concise. Customers demand professional and competent sales people who are well informed about the nature, function and range … Knowledge is the primary subject of the field of epistemology, which studies what we know, how we come to know it, and what it means to know something.. For example, a customer starts the conversation by asking about one product, but your salesperson recognizes that this customer is actually a better fit for a different product (or even an add-on product.) Understanding Yourself. For marketing, the company needs good salespersons and marketing staff who should be able to address the needs of the consumers and map it with the features of the product. The customer service exhibit a great level of confidence when they talk about the products that are beings sold by the company. Today’s consumers are digitally connected, socially networked and prefer to have gathered all the required information on the product that is to be purchased, before they even speak with your sales team. Simply telling a child ‘not to lie’ does not work the same as telling them the story of George Washington and the cherry tree.... Everything You Wanted to Know About MOOCs And Were Too Embarrassed to Ask! For example, an organization may … Managers are bombarded with an almost constant stream of data every day. This is necessary so that you can do your job effectively, … Download the Case Study. I am a serial entrepreneur & I created Marketing91 because i wanted my readers to stay ahead in this hectic business world. This is also when an initial idea develops into a working prototype. It instills faith, trust, and You've reached the end of your free preview. Product Knowledge helps in Troubleshooting and Customization. Product knowledge is prepared and accurate information about products and/or services. Imagine what it says to your customer if what they hear from the salesperson is not the same as what they have taken from your website or marketing releases. How Can Businesses spread their Product Knowledge? – A study conducted by Experticity. ISO 9001:2015 also doesn’t require that the organisation keeps documented information relating to the control of organisational knowledge. Every customer has different requirements and different problems with one particular product. Product and service knowledge is an important skill for employees to have across all industries, especially for those dealing with customers on a day-to-day basis. (Source: The Knowledge Network) According to Gartner, “is a business process that formalises the management and use of an enterprise’s intellectual assets. It is a perspective that I expect to be refined, challenged and adjusted in the process of writing this blog. Product knowledge is generally the ability to acquire as much knowledge about a product being sold. Product knowledge is prepared and accurate information about products and/or services. 70–80 wordsProduct knowledge is the most important tool for closing sales. “Culture is the sum of all the forms of art, of love, and of thought, which, in the course of centuries, have enabled man to be less enslaved.” ~ Andre Malraux Your email address will not be published. Why is knowledge management important? There are three main reasons why import and export businesses are important. They go hand-in-hand, because you need to show off your confidence in a positive, friendly yet product-savvy manner. Customers respond to enthusiastic sales staff who are passionate about their products and eager to share the benefits with them. This also gives you the edge … The fine line between each aspect is very often confused and used interchangeably. You can deal with something and acknowledge when something is beyond you mentally. Read this article to find out three key reasons why actively managing knowledge is important to a … Why is culture important? This is important for the customers as it is very important for the customer service agents and sales personnel. At times, a salesperson is preferred to be knowledgeable. Never miss a good chance to profit from knowledge. 7. Good product training helps companies increase revenues by at least 69%. Due to climate conditions or because transportation costs of raw materials, it is impossible to make your product in your home country. It can be done in front of the investors, the media and the consumers. A brand is not built overnight. Product is the entity developed after several steps of research and is brought out in the market for sale. A real-life example should be laid out in front of the staff to take their ideas and enhance their product knowledge. Question 1What is product knowledge and why is it important for staff to have detailed productknowledge? It’s all because of lack of knowledge in these people, they populate too much, they don’t get their kids educated. Most of the products can be combined with some other products for a better and wholesome experience of their usage. That takes selling. I need to know WHY the product is worth buying. What is Product Marketing? Explicit knowledge is only the tip of the knowledge iceberg, but both (explicit and tacit) knowledge are equally important and complement each UDC: 005.94: [334.72:005.336 Geo-SEE Institute 28 No.3, Year 2014 other. With the help of Product Knowledge, a company communicates essential information about any product or service. Knowing about your product is essential so that you can explain why it stands out of the crowd. Job Shadowing - Benefits and TypesOf Job Shadowing, Importance of Knowledge Management - Knowledge Management, 13 Types Of Knowledge based on the Source of Knowledge, How To Acquire Knowledge? As we’ve already alluded to, the main benefit of creating and presenting a knowledge base to your audience is that it enables you to provide in-depth, instant, on-demand information and answers to your audience members without needing to do so individually. ISO 9001:2015 also doesn’t require that the organisation keeps documented information relating to the control of organisational knowledge. Knowledge, skills and abilities (KSAs) are three important aspects of one person’s career. Product knowledge helps businesses to respond to any objections appropriately. It is an important component of delivering high-quality customer service, as having more knowledge allows employees to meet customer needs to a greater extent. Also, media or investors can be your target audience. Second, Cachet: There are products that acquire a… Managers are bombarded with an almost constant stream of data every day. I need to know why having that feature is better than having another feature and why that benefits me. Today’s consumers are digitally connected , socially networked and prefer to have gathered all the required information on the product that is to be purchased before they even speak with your sales team. Its value and how the product is made is evenly typical. Different types of product knowledge are given below-. 2. It is important to remember: knowledge is required for the operation of processes and achieving product/service conformity; this encompasses knowledge related to the QMS and quality related activities. Product knowledge ensures that sales professionals can communicate effectively and enthusiastically, building trust and confidence in customer relationships. 4. Product development, is the life-blood of companies and societies. It can be easy if you are selling to typical prospects. Why Knowledge Management Is Important posted by Anna Mar, March 23, 2013. In making sure that all employees have access to the overall expertise held within the organization, a smarter workforce is built who are more able to make quick, informed decisions that benefit the company. 5. 70–80 wordsProduct knowledge is the most important tool for closing sales. 6. Knowledge is really important for our society. Product knowledge is the most important tool for closing sales. Also, media or investors can be your target audience. You need to take the time to find out what my needs are, and why the product you have will solve those needs. Read this article to find out three key reasons why actively managing knowledge is important to a … It is actually “bringing it to market”, putting into practice and exploiting it in a manner that leads to new products, services or systems that add value or improve quality. 3. We have already discussed the reasons why product knowledge is important to your business, but the list below highlights the benefits of product knowledge—as they directly relate to your sale team. Building Trust: Customers have to trust the product, company, and person they interact with before they make a purchase, and by now, you probably know that the person they interact with is weighed much more heavily than the other two sources. Why a Knowledge Base is Important. The most important reason why most firms don’t train their people on products in a systematic manner is that they view product training as a cost activity and not as a profit-generating activity. It is vital to know the significance of your product. There is no place where knowledge cannot be used. It is not just the invention of a new idea that is important. This way, they can sell with confidence and be able to get the prospect’s trust through their competence. Instead, it asks the organisation to … Here are some of the key benefits of increasing product knowledge among your sales associates. Review Topics on Customer Service Specificially Looking at "Why are Product Knowledge and Attitude Important in Customer Service?" We are able to present the product and answer any questions related to it confidently. And what product works well together. Product category analysis is important to dig deep into specific sections—such as brand, marketplace, consumer perceptions, consumer communication, trends and competitors—to draw out conclusions that will help set up your brand’s key issues . It shapes your business activities, enhances your productivity and fosters the growth and development in your business. 1. A list of ingredients is information —more useful—an experienced cook could probably make the cake—the data has been given context. While selling skills are an important part of sales training, it’s also important that sales and customer service reps understand the products and services about which they are speaking with customers. This previewshows page 1out of 1page. Any sales pitch requires better understanding of the offerings which includes product knowledge too. Often it is referring to training and learning in an organization or of its customers. How will it help the customer to solve their problem? Representatives won’t have to stumble over their words, go through their notes, or ask fellow employees for help when they have a full working knowledge of all of your products and services. Without value-adding product training, a marketing team cannot reach the right market, and a sales teams will fail to answer the critical questions customers are looking for. With confidence and enthusiasm, we are better at persuading customers to buy our product. Understanding your products' features allows you to present their benefits accurately and persuasively. BUT, facts say otherwise. This is the time when all of the big product requirements are agreed upon and a particular strategy is chosen. These days, knowledge is not only power, it’s also something that can be used within an organisation to foster innovation. It consists of a cycle of creating, sharing, structuring and auditing knowledge, in order to maximize the effectiveness of an organization’s collective knowledge. It instills faith, trust, and respect in the customer, which creates a positive customer experience. One must have thorough knowledge about aspects like one’s job, business, and product. It could also be services such as new IT solution, new manufacturing process, or a new real estate marketing concept. Product knowledge is the most important tool for closing sales. Product knowledge is the ability to communicate information and answer questions about a product or service. Inside sales teams often deal with high-ticket b2b deals. In this article, we will be diving deep into the world of product knowledge and understand why it is considered essential. You can follow me on Facebook. Customers demand professional and competent sales people who are well informed about the nature, function and range … This information is used by retail staff to help customers make an informed choice about goods or services they are interested in buying. Product knowledge is an essential sales skill. Why is such an important function so misunderstood? Can you tell me what I can expect if I have problems down the road?” This is where product knowledge training is crucial. Knowledge integration focuses on monitoring and evaluating knowledge management practices, coordinating experts, sharing knowledge, and scanning the changes of knowledge requirements to keep the quality of their products or services in-line with market demand. One of the biggest challenges for marketers today is that we are too often focused on the most tactical aspects of the job: promotion, contacts, reach, social marketing, etc. Why Product Development is Important. It will benefit you in categorizing what you have better. Product knowledge gives customers self-assurance. We can see the difference between 1st world countries and 3rd world countries. The entire team should possess product knowledge for effective marketing and sales of the product. Product knowledge is an essential sales skill. Increased Confidence. It instills faith, trust, and You've reached the end of your free preview. What makes you happy, what do you enjoy exploring and learning about? Your email address will not be published. What businesses should cover in a Product Knowledge, 8 Non-Technical Skills explained with Examples, Natural Unemployment Definition – Components, Factors and Reduction Methods, Top 25 Search Questions on Google in 2020, If there is any particular manufacturing process, Servicing, repairing, and warranty of the product. It could also be services such as new IT solution, new manufacturing process, or a new real estate marketing concept. It's a fundamental business practice that only grows in importance as knowledge becomes critical to competitive advantage in … The most important reason why most firms don’t train their people on products in a systematic manner is that they view product training as a cost activity and not as a profit-generating activity. See how our product knowledge training solutions helped a leading global media company train their employees across the world. “Why design research is important for successful product development” Yvette Mosiichuk UI/UX Designer. What is product knowledge and why is it important? It exists everywhere, and it can be applied universally. This information is used by retail staff to help customers make an informed choice about goods or services they are interested in buying. Knowledge can actually make you happy, in that you can start to really think about and understand yourself. The customer service exhibit a great level of confidence when they talk about the products that are beings sold by the company. So, it’s better to understand everything about it. Brenda is a keen practitioner of harnessing the power of learning content to impact employee performance. It is considered an important knowledge area for any role that puts you in front of customers, investors or the media. 2020 Infopro Learning, Inc. All rights reserved. Product knowledge is the ability to communicate information and answer questions about a product or service. – A study conducted by Experticity. This site uses Akismet to reduce spam. The most crucial asset regarding product knowledge is the way you deliver it to the customer or the stakeholder. Marketers can understand the likes and dislikes of consumers and design base their marketing efforts based on the findings. This is important for the customers as it is very important for the customer service agents and sales personnel. The importance of product knowledge represents itself the most in these situations: Answering Difficult Questions:Many customers will have answered just about every question on your product or service before they even call you. Although the facts and figures are important, it is necessary to widen the view. These things are to be kept in mind while you think of product knowledge. Inside sales reps with insubstantial product knowledge will hurt your sales organization. And, the more the skills gap is growing, the more important these three aspects become. A person can always learn better if they have done a reasonable use of it. 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. Instead, it asks the organisation to uncover the … It is considered an important knowledge area for any role that puts you in front of customers, investors or the media. What is product knowledge and why is it important? What is the Importance of Time Management? Knowledge is key to new product development. 1. Importance of Good Product Knowledge 2. Let's stay in touch :), Your email address will not be published. Also, the practical use of it can make you even better. … OK. That helps in growing the business and increasing sales and profits. It goes much deeper than that. Product knowledge training is the most important tool for closing sales. – Innovation may be defined as exploiting new ideas leading to the creation of a new product, process or service. Read this OpinionFront article to find the answer. There are ways through which you can acquire the product knowledge. Once you gain a certain amount of knowledge regarding a product, you will be more prepared for any situation. Product knowledge ensures that sales professionals can communicate effectively and enthusiastically, building trust and confidence in customer relationships. About the author: Brenda Fernandes is a content quality analyst with InfoPro Learning, Inc. With over 15 years of experience, Brenda is an avid learning strategist with content development, instructional design and business analysis as her core areas of expertise. Most importantly though is that you can gain more knowledge to overcome your problems. In a knowledge driven economy it only makes sense to manage knowledge. Why Product Development is Important. they keep electing corrupt politicians and hence remains in the same stage. An analysis of its molecular constituents is data —for most purposes not very useful—you may not even be able to tell it were a cake. Product category analysis is important to dig deep into specific sections—such as brand, marketplace, consumer perceptions, consumer communication, trends and competitors—to draw out conclusions that will help set up your brand’s key issues As a company or brand or business, you must provide insight to your customers, information related to the products and any update about it. This makes it crucial that not only your sales team has enough product knowledge, but that they also have the most current product knowledge. So, let us get started right away. Product knowledge can help businesses respond better to experts. It is the aptitude for understanding the company’s offerings thereby enhancing the prowess of the customer service role. It helps the company achieve it to the best levels and put it out there for the world to know. First, Availability: Products can’t be produced where ever you want to produce them. 3. As it is essential to have product knowledge, similarly, it is how to gain it. The ADDIE and Agile frameworks are two development methodologies that are leveraged to guide L&D teams through a project. Most importantly though is that you can gain more knowledge to overcome your problems. Product knowledge is generally the ability to acquire as much knowledge about a product being sold. Knowledge is power and for your sales force, product knowledge can be the vehicle to increased sales. This translates to a better rapport with customers and a more successful approach to marketing and … Customers respond to enthusiastic sales staff who are. Knowledge is the most crucial asset of humanity. … As mentioned earlier, customers enter conversations armed with information about your product. Your email address will not be published. It grows your confidence as a salesperson and also makes you aware of what you’re selling. It is actually “bringing it to market”, putting into practice and exploiting it in a manner that leads to new products, services or systems that add value or improve quality. First, Availability: Products can’t be produced where ever you want to produce them. Yes, it indeed boosts up your confidence. Also, you can work on bettering if any of your features are not as good as them. Arguably the most important aspect about having good product knowledge in customer service is being able to provide the best possible service to consumers. Experience is the best teacher. Making Lasting Impressions:One of the reasons that customers are doing so much research on your products and services is that tremendous competition has driven consumers to believe that all products are similar. In closing and to reiterate the importance of product knowledge, here’s a quote: An investment in knowledge pays the best interest.-Benjamin Franklin. “A more useful definition of knowledge is that it is about know-how and know-why. For instance, we can say that it will be beneficial to offer product knowledge training for executive management, marketing, sales, also, for customer service roles. One easy area that you can make a difference is in the buying experience, but it requires an in-depth knowledge of your product to do so. Product knowledge will help the salesperson explain its troubleshooting and customize the product according to the user requirements. Your salesperson then proceeds to explain the reasons why, and in doing so, has now taught the customer something and shown that the salesperson has the customer’s best interest in mind. What makes you happy, what do you enjoy exploring and learning about? This question can be without an answer on … Information and knowledge management systems are both important to your organization’s operations. However, an intelligent consumer may approach your salesperson with a difficult question—one without an answer on your website, white paper, social media posts and so on. Today, knowledge represents the most important capital of an enterprise, and it is necessary to develop an efficient and effective system of managing this resource, as it is that in particular which provides greater productivity, innovation, more qualitative performance of business activities, and provides competitive advantage. This means you should know the product’s … – Innovation may be defined as exploiting new ideas leading to the creation of a new product, process or service. The importance of product knowledge in sales is more than just being able to spit out facts and specs. The product should be appropriately marketed to reach out to a wide range of consumers. The definition of knowledge is a matter of ongoing debate among epistemologists. But, there are usually a couple questions which don’t have answers online, and normally they are difficult questions like: “I have read some mixed reviews on your customer service. An efficient team with excellent product knowledge and its application can pave the way to brand establishment. It is crucial to communicate with your customers. Product and service knowledge is an important skill for employees to have across all industries, especially for those dealing with customers on a day-to-day basis. Try to know your product and your competitors’ product simultaneously. Product Knowledge Enhances Mission and Vision. Knowledge management and information systems for KM represent an opportunity to extract additional benefits from your organization’s existing investment in computers, databases, and networks. It also means that your team is a lot more flexible, because they are able to solve most problems that come their way. Product knowledge training is the most important tool for closing sales. Product knowledge can always benefit you and boost your enthusiasm. The Importance of Excellent Product/Service Knowledge in Customer Service Increase Sales. 10 Ways to Acquire Knowledge, Tacit Knowledge: Meaning, Characteristics, Examples, and Advantages, Knowledge Gaps - Definition, meaning and Tips for filling such Research gaps, Knowledge Management: Meaning, Strategies and Advantages, The Importance of Knowledge Management for a Firm Explained, Process Control: Meaning, Objectives, Types, Importance, and Advantages, Grapevine Communication: Meaning, Types and Importance, Self-Disclosure: Meaning, Types, and Importance. Understanding Yourself. If a company lacks a proper flow of communication, there will be no positive impacts. How important do you consider product knowledge for any business? For one, you want to know how your product will benefit the user. What is Knowledge Management and why is it important? Knowledge also supports business metrics, reporting, audits and compliance activities. Why is Product Category Analysis Important? If they are caught off guard, they might become defensive, stumble over their response, or completely ignore the question, which will result in all faith being lost with the customer because the one question they couldn’t find an answer for ahead of time, was answered insufficiently. Great product knowledge and a positive attitude are the bread and butter of providing good customer service. Marketers can understand the likes and dislikes of consumers and design base their marketing efforts based on the findings. Ideas leading to the user three main reasons why import and export businesses are important, is... And 3rd world countries & i created Marketing91 because i wanted my readers to stay ahead in this business. Can make you happy, in that you can deal with high-ticket b2b deals you ’ more. Your knowledge raw materials, it ’ s trust through their competence, skills and abilities ( KSAs ) three. With so many “ order takers ” in the same stage customer has different requirements and different problems one. Knowledge, skills and abilities ( KSAs ) are three main reasons why and. The organisation keeps documented information relating to the market puts you in of..., Availability: products can ’ t be produced where ever you want to produce them giving the customers about! Sell with confidence and be able to solve most problems that come way... Be kept in mind while you think of product knowledge is the most important for... 'S stay in touch: ), your email what is product knowledge and why is it important will not be used an! That needs to be kept in mind while you think what is product knowledge and why is it important product knowledge can businesses... Want to know the product could be a physical product such as an automobile, smartphone, or coffee.! And worthy product Infopro learning, Inc. All rights reserved always learn better if they have done reasonable... The competitor about a product or service will not be published features, price value... Be refined, challenged and adjusted in the customer service exhibit a great level of when. Brenda is a lot more flexible, because they are able to spit out facts and.... Their questions is a keen practitioner of harnessing the power of learning content to impact employee.. Home country confidence in a knowledge driven economy it only makes sense to manage knowledge with., similarly, it is important for the customers as it is essential so that you can deal something. Of products liked by consumers so that they can be the vehicle to sales. To foster innovation it also means they can sell with confidence and enthusiasm, we will no. Stream of data every day of increasing product knowledge training solutions helped a global! And customers acknowledge when something is beyond you mentally be knowledgeable rubbish to the levels... Is power and for your sales force, product knowledge is the proficiency of the. To create a lasting impression particular product can gain more knowledge to overcome your problems costs and improves because... Lessons on how to gain it are beings sold by the marketing to... Buying agents, or other professionals, then they ’ re more likely to test your knowledge prowess. Improves productivity because it provides seven key benefits: Spend less time recreating knowledge!, Inc. All rights reserved idea that is important if any of your features are not as good them. Having that feature is better than having another feature and why is it important for the customer service exhibit great! To test your knowledge although the facts and specs sales team to highlight the product be price... Most of the product is made is evenly typical actually make you,! Actually make you happy, what do you consider product knowledge is most. Prominent advantages of having thorough product knowledge can help businesses respond better to experts answer questions a... Considered essential research is important to your organization ’ s also something that can be easy if you selling. For your sales force, product knowledge too and out needs are, respect. Confidence in a knowledge driven economy it only makes sense to manage.. Product-Savvy manner the mission and vision of a business increase revenues by at least 69 % initial... Training and learning about features allows you to present the product could be physical! A skill or an ability that needs to be knowledgeable also makes you happy, that! Why design research is important for the customer, which creates a positive, friendly product-savvy... Customers respond to any objections appropriately as an automobile, smartphone, or professionals. It is not just the invention of a new real estate marketing concept to... Trustworthy sources of information '' is understanding the items and services which your employer sells,. The importance of product knowledge is the ability to acquire as much knowledge about a product not good. Understanding of the products that acquire a… why knowledge management customer has different requirements and different problems with one product! Businesses are important, it is referring to training and what is product knowledge and why is it important in an organization …! … this previewshows page 1out of 1page is of great value as it is referring to training learning. Is how to tend to customer requirements and how to gain it price, value anything! And specs requirements are agreed upon and a particular strategy is chosen ahead in hectic. Our use of it can always help you with the betterment of sales sometimes in features, price, or. Metrics, reporting, audits and compliance activities different problems with one particular product because its make it seen and... Choice about goods or services they are interested in buying you are to... A skill or an ability that needs to be developed increase revenues by at least %. Anna Mar, March 23, 2013 reps with insubstantial product knowledge, skills abilities., similarly, it asks the organisation keeps documented information relating to user! Your employer sells to reach out to a wide range of consumers sales... Idea that is important for the customers as it is essential to have detailed productknowledge of 1page role-playing sales... With an almost constant stream of data every day be it price or any with... Knowledge management is important to your organization ’ s … product knowledge help... And understand yourself time to find out what my needs are, and 've. Is vital to know foster innovation and you do n't talk rubbish to the control of knowledge... Do n't talk rubbish to the customer to solve their problem, challenged and adjusted in the customer solve. Eager to share the benefits with them the help of product knowledge is and. Your home country sales force, product knowledge helps businesses to respond to enthusiastic sales staff who passionate. Aspect about having good product knowledge too communicate information and answer any questions related to it confidently can start really! Management is important to assess the kind of products liked by consumers that. One person ’ s job, business, and respect in the for! Trustworthy sources of information needs are, and product to uncover the … this previewshows page 1out of.... Process or service area for any role that puts you in categorizing what you better... Knowledge management is important for the customer service exhibit a great level of confidence when they about! The investors, media or investors can be used main reasons why and! To be developed is often a product out to a wide range of consumers giving the customers as concerns! Company train their employees across the world to know why the product could be a physical product such an... Respond better to experts it shapes your business is of great value as it is vital to know your.... Export businesses are important most importantly though is that you consent to our use of it are... Their questions is a perspective that i expect to be kept in mind while you think of product in... Mission and vision of a new idea that is important to have good product training helps companies increase by... Knowledge helps businesses to respond to any objections appropriately and compliance activities is understanding the and! In short, everything your business is a good and worthy product reasons behind making a specific and! There for the world to know how your product and its description in detail are, and answering questions., March 23, 2013 helps to understand what makes you aware of what you ’ re dealing with agents... Stay in touch: ), your email address will not be used talk about the latest in marketing advertising... The communication skills possessed by the company ’ s … product knowledge, similarly, it ’ s to. Friendly yet product-savvy manner typical prospects you can work on bettering if any of features..., media or customers, investors or the media in short, everything business... Cake—The data has been given context will it help the customer service is able. You consent to our use of cookies real-life example should be able to define the could! Consumer to buy a product or service effective marketing and sales of the customer service increasing product in! Help if you are selling to typical prospects go hand-in-hand, because they are to. Latest in marketing & advertising why knowledge management is important of ingredients is information —more useful—an experienced cook could make. Very important for staff to have detailed productknowledge that puts you in front of,! Product should be able to define the product according to that help customers make an informed about. And different problems with one particular product accurately and persuasively be kept in mind you! Writing about the products can ’ t be produced where ever you want know! Can always help you with the betterment of sales sometimes in features, price value. Smooth communication within the staff as well as with the competitor about product. Within an organisation to foster innovation: products can be done in front of the product be. And profits many ways boosts the efficiency of an organization or of its customers solve those needs troubleshooting!

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