How can product knowledge contribute to competitive advantage in the market?
- Decreases employee morale.
- Enables better understanding of customer needs and preferences.
- Negatively impacts brand reputation.
- Reduces customer engagement.
Product knowledge enables a better understanding of customer needs and preferences, allowing companies to tailor their products and services to meet those specific demands. This understanding gives businesses a competitive edge in the market because they can offer solutions that effectively address customer pain points and provide added value. By leveraging product knowledge to anticipate and fulfill customer needs, companies can differentiate themselves from competitors and maintain a strong position in the market.
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