Q.What is meant by knowledge of the product? Explain its importance to a salesman and state the various sources from which such knowledge can be obtained. (5 marks)

This question has three parts — meaning, importance, and sources — and each should be answered clearly and separately.

Structure the answer as meaning → importance (several reasons) → sources (several sources).

Meaning. Knowledge of the product means the salesman's complete and accurate understanding of everything about the goods he is selling — their composition, uses, working, method of use and maintenance, price and terms of sale, after-sale service, comparison with rival products, and above all the benefits the buyer will actually get. Since the salesman is the customer's expert on the product, he cannot sell convincingly what he does not fully understand.

Importance to a salesman:

1. Builds confidence — a salesman who knows his product speaks with assurance; a hesitant one loses the customer's trust.
2. Wins the customer's trust — accurate, knowledgeable answers make the buyer feel safe in buying.
3. Enables prompt, correct answers to the customer's questions and doubts.
4. Helps meet objections convincingly, since most objections are really requests for information only a well-informed salesman can supply.
5. Converts features into benefits — the salesman can explain what the product will do for this particular buyer.
6. Allows honest comparison with competing products, showing fairly why his product suits the need.
7. Reduces returns and complaints, because the customer buys the right product, correctly understood.

Sources of product knowledge:

1. The product itself — by examining, handling, and using it.
2. The manufacturer/employer — training, manuals, catalogues, price lists, leaflets.
3. Fellow salesmen and the sales manager — their selling experience.
4. Customers — their feedback on real performance.
5. Advertisements and publicity material.
6. Observation of competing products.
7. Trade journals, exhibitions, and trade fairs.