Product knowledge is when a person has comprehensive understanding about a specific product. This includes its features, benefits, usage, and any differentiating features from similar products. For GCSE Business students, this concept is crucial because businesses use it to effectively inform and persuade customers, enhancing customer service and increasing sales.
It involves learning how products work, the problems they solve, and the unique selling points that appeal to target markets. This understanding helps businesses to make well-informed marketing strategies, enabling them to effectively meet consumer needs and stay competitive in the marketplace.
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