Product and industry knowledge

Product and industry knowledge refers to the understanding of the business’s products or services and the broader industry in which it operates. The process involves researching and staying up-to-date on industry trends, understanding the features and benefits of the business’s products or services, and communicating this information effectively to potential customers.

Beginner competence definition

Beginner-level individuals are able to understand the basic features and benefits of the business’s products or services, and can effectively communicate this information to potential customers. They can also demonstrate an understanding of the broader industry in which the business operates.

Intermediate competence definition

Intermediate-level individuals are able to develop a deep understanding of the business’s products or services and the broader industry in which it operates. They can identify trends and patterns in the industry and use this information to inform their sales approach. They are also able to communicate effectively with potential customers and demonstrate their expertise in the products or services they are selling.

Advanced competence definition

Advanced-level individuals are subject matter experts in the business’s products or services and the broader industry in which it operates. They can lead the development of a comprehensive product and industry knowledge program for the entire sales team. They can also use their expertise to identify opportunities for growth and differentiate the business from its competitors.