Created by Anil Thapliyal for Retail management post graduation diploma in management final semester Welingkar management.

1. Importance of
Product Knowledge
in selling.
By:
ANIL BELIRAM THAPLIYAL
HPGD/OCT15/2243
SPECIALIZATION: RETAIL MANAGEMENT
Prin. L. N. Welingkar Institute of Management Development & Research

2. INTRODUCTION
IMAGINE YOU ARE SEARCHING
FOR A PRODUCT OR A SERVICE.
YOU FOUND IT BUT YOU GOT
QUESTIONS AND OF COURSE YOU
WILL SEARCH FOR THE SALES
REPRESENTATIVE AND ASK YOUR
QUIRES TO THE SALES GUY.
BUT WHAT IF THE REACTION OF THE SALES
REP IS THIS…

3. Hmmm..
So, What is product knowledge
and why is it important in selling?
MOST OF THE TIME THE REASON
FOR SUCH REACTION IS LACK OF
PRODUCT
KNOWLEDGE.

4. Importance of Product Knowledge in Selling
What is Product knowledge?

5. Product knowledge
 Product knowledge is the ability to communicate information and answer questions
about a product or service.
 It is considered an important knowledge area for any role that puts you in front of
customers, investors or the media.
 Product knowledge is an essential sales skill.
A business sales representative is an example of an individual that is typically
expected to acquire considerable product knowledge about the goods and services that they are
responsible for selling to consumers.
 An understanding of a good or service that might include having acquired information
about its application, function, features, use and support requirements.

6. Answering Difficult Questions
Boosts Enthusiasm
Grows Confidence
Importance of Product Knowledge in Selling
 A thorough knowledge of the product or service helps the salesman to
speak with self-confidence and courage.
 He can confidently talk to the customers if his knowledge about the
product is perfect.
 Detailed knowledge about the product also helps the salesman to remove
doubts and suspicions about the products from the minds of the
customers.
Strengthens Communication Skills

7. Building Trust
Importance of Product Knowledge in Selling
 Customers are more likely to trust sales people who show confidence in themselves and
what they are selling.
 Successful salespeople know all of their products' features and skillfully turn these features
into benefits for their customers.
 Product Knowledge Can Increase a Customer's Loyalty.
Making Lasting Impressions

8. Makes selling a pleasant task
Ensures satisfactory meeting of objections or enquiries
Projects perfect image of the product
Importance of Product Knowledge in Selling
 Unless the salesman has a detailed knowledge of the product, he cannot
get job satisfaction from his work. He will naturally feel that something is
lacking. If his knowledge about the product is perfect he finds his job
easier as well as enjoyable.
 Well-informed salesmen therefore get greater pleasure and satisfaction and
achieve better sales volume.
 A perfect knowledge of the product helps the salesman to present a clear
picture of the product in the minds of the buyers.

9. Importance of Product Knowledge in Selling
 The last area to have knowledge about is the
competition. As Michael Corleone from the Godfather said,
“Keep your friends close, but your enemies closer.” In
order to out maneuver or outsmart your competitors you
need to know what they are up to.
 Know your product, know competitor's products, and know
why your product beats that competitor. Sometimes it is on
value, sometimes on price, sometimes on features and
sometimes on all of the above
 Google was not the first internet search engine, but they
conquered the market by seeing what other search providers
did and improving upon it.
Enables to withstand competition

10. Ensures better sales
 While selling, the salesman generally gives more stress on the benefits
and utilities of the products and services he intends to sell.
 Unless he knows the product in detail, he cannot provide essential
information about the product or service and its utilities usually
enquired by the customers.
 If sufficient product knowledge is lacking with the salesman, customers
may not be convinced about the product.
 Misleading and inaccurate information about the product weakens the
confidence of the buyers and thereby it affects the sale negatively.
 Thorough product knowledge helps the salesman to make customers
understand how the product will satisfy needs of the customers. Thus it,
ensures faster and better sale of products and services.
Importance of Product Knowledge in Selling

11.  An understanding of a good or service that might include having acquired information about its application,
function, features, use and support requirements.
 Product knowledge is an essential sales skill.
 Product knowledge is the ability to communicate information and answer questions about a product or
service.
 On a personal level it Boosts Enthusiasm, Grows Confidence, Strengthens Communication Skills to
answer difficult questions from the customer during a sale process.
 On a professional level makes selling a pleasant task, Projects perfect image
of the product, Ensures better sales and enables to withstand competition.
Benefits
 Customers are more likely to trust sales people.