What is the Purpose of Product Information?

Have you found yourself finally finding a product that looks like it could be a good fit, but then had trouble finding any detailed production information about it? This looks like the perfect product, but you aren’t sure what size options are available. So ultimately you aren’t sure if it will work in your home? These are common frustrations that consumers experience. Keep reading below to learn more about the purpose of production information.

What Is the Purpose of Product Information?

Have you ever found yourself wondering what the purpose of product information is? All products on the market today have information that describes that particular product, but what is the importance of it?

The importance of product information is significant, especially if you are purchasing a new product. This is the case, as you may not be familiar with everything about that product or even know how to operate it. With this in mind, product information can provide valuable information to consumers. Product information can vary, depending on the type of product you are purchasing. This information can include important safety features, key product features, and benefits. 

Product information that is easy to find and access can also be beneficial to your customers, as they will spend less time searching for this information. If important product information is available at your customers' fingertips, they will likely have a positive experience with your product, and ultimately your brand or company.

Now that you have a better idea surrounding the purpose of product information, let’s define what product information actually is. 

What Is Product Information?

So what exactly is product information? According to Amplifi,  “product information refers to any information held by an organization about the products it produces, buys, sells or distributes.”

Product information can range from simple things like a list of products, the product name, product description, SKUs, and pricing. Product information can also include important safety information, feature documentation, or even product photos.

How Important Is Product Information in Making Sales?

Are you on your company’s sales team and found yourself searching everywhere for product information? Product information can be important and can be impactful in help close a deal. 

Customers are also more likely to purchase a product if they can find detailed and accurate information about that product. All of this ultimately leads customers to come back and purchase your product again, or even better tell their friends about their positive experience!

What Is the Main Goal of Product Information Management?

The main goal of product information management, or a PIM solution is to provide your company with a centralized location to manage all of your products. By implementing a PIM solution, gone are the days spent relying on countless spreadsheets and searching for production information everywhere. 

With a product information management system like Lumavate, you will now be able to store all of your product information in one location. Lumavate’s PIM will also allow you to create related products and accessories and then associate them with your main product. This will make it easier for your customers to know what accessories they may need to purchase after buying the initial product. 

Want to find out more about how a product information database or PIM can help your business? Book a demo here.