MANAGEMENT

Detailed explanation-1: -Product information improves the customer experience regardless of what sector you’re in. Buyers always want more information about your product, to answer any purchase objections. The more conclusively you can answer their questions, the higher their satisfaction.

Detailed explanation-2: -Product Information refers to any information held by an organisation about the products it produces, buys, sells or distributes. In the context of Product Information management (PIM), this typically refers to information relating to the selling and/or marketing of products via digital channels.

Detailed explanation-3: -The four Ps are a “marketing mix” comprised of four key elements-product, price, place, and promotion-used when marketing a product or service. Typically, businesses consider the four Ps when creating marketing plans and strategies to effectively market to their target audience.

Detailed explanation-4: -For example, a product usage report of any soap is a report which details the number of soaps used by a family or hotel in a particular period of time (for example, week, fortnight, month, quarter, half-year, year). The data regarding product usage is a useful resource for a business.