There are three types of product knowledge which consumers can have knowledge about the attributes or characteristics of the product common knowledge of the positive consequences of benefits of using products, and knowledge of the values the product help consumers satisfy or achieve.
1. Consumers knowledge of a product characteristics or attributes : marketers need to know which product attributes are most important to consumers, what these attributes mean to consumers, and how consumers use this knowledge in cognitive processes such as comprehension and decision-making. Consumers have different levels of knowledge about attributes knowledge about abstract attributes represents intangible, subjective characteristics of a product such as quality of warmth of a blanket or the stylishness comfort of a car. Consumers' knowledge about concrete attributes represents tangible, physical characteristics of a product such as the type of fibre in a blanket or the front leg room in a car. In addition consumers attributes knowledge may also contain effective evaluation of each attributes.
2. Consumers knowledge of product benefits : marketers also recognise that consumers often think about products and brands in terms of their consequences, not their attributes. Consequences are outcomes that happen to a consumer when the product is purchased and used or consumed. For instance, a stereo system might be very loud, require assembly or repairs or make the user feel proud. A facial cream might cause an allergic reaction or cost too much. Other consumers might think the buyer is either he or foolish for buying a certain brand of jeans or sneakers.
Consumers can have knowledge about two types of products consequences functional and psychosocial. Functional consequences or tangible outcome of product use that consumers experience rather directly. For instance, functional consequences includes the immediate psychological outcome of product use comma just like eating rice satisfying hunger, drinking coke eliminate your thirst. Functional consequences also include the physical tangible performance outcome of using or consuming a product, for instance a hair blower dry your hair quickly, a car gets a certain number of kilometres per hour, a toaster brown bread evenly and an increase smoothly without skipping.
Psychosocial consequences referred to the psychological and social outcomes of product used. Psychological consequences of product are internal, personal outcomes such as how the products makes you feel. For instance using a nexus shampoo might make you feel more attractive, wearing adidas sportswear might make you feel more stylish and eating an ice cream coming from mr biggs might make you feel happy. Consumers also have knowledge about the social consequences of product use, my friend will like comma respect or envy me if I buy a sony stereo system, my mother will think I am a smart shopper if I buy this product on sale.
Since consumers often think about products and brand as bundles of benefits rather than attributes, marketers can divide consumers into subgroups or market segments according to their desire for a particular product consequences. The process is called benefit segmentation. For example, some consumers of toothpaste are looking for appearance benefits that is white teeth while others are more interested in health benefits, that is preventing tooth decay.
3. Consumer knowledge of product as value satisfiers : consumers also have knowledge about the personal symbolic values that products and brands help them to satisfy or achieve. Values are people's broad life goals. A person who wants to be successful for example, he need security. Values also involve the effect associated with such goals and needs. What I mean by effect is the feelings and emotions that accompany or come with success.
