Product knowledge refers to the ability to effectively communicate information and answer questions about a product or service. This knowledge is considered essential for anyone who interacts with customers, investors, or the media, such as executives, salespeople, marketers, and customer service representatives. Organizations may offer product knowledge training to help ensure that their employees have the necessary knowledge and skills to effectively promote and support their products. Product knowledge is important for building trust and credibility with stakeholders, and can help drive sales and improve customer satisfaction. The following are common types of product knowledge.
How the product addresses customer needs. For example, a salesperson who is able to analyze customer needs to develop a proposal to sell the product.
The identity of the product on the market. For example, a salesperson in a luxury fashion shop who can talk about brand legacy.
Knowledge about the end-to-end customer experience offered by a product or service.
How the product or service compares with the competition.
Knowledge of industry trends, concepts and terminology surrounding your product.
How to use the product.
How to use other products that are commonly used together with your product. For example, if your software runs on a particular operating system customers will be surprised if you’re out of your depth in that environment.
How to install and configure the product.
How to fix problems with the product. This often has several different levels. For example, some problems can be fixed from the user interface and others require a software developer or engineer.
Specifications of the product including the meaning of related terminology.
Knowledge of elements such as APIs that allow customers to customize and extend products and services.
How to integrate the product with other things. For example, how to connect a mobile device to a particular type of network.
Policy & Procedure
The policies and procedures that guide products and service. For example, a salesperson who can describe the restrictions on different types of software licenses.
Mission & Vision
What the product, service or brand is trying to achieve and where it’s headed. Often useful for answering basic questions such as “why should I buy this?”