Definition: Product Information

What is product information?

Product information is the detailed description of an item that is offered for sale. This information, also known as product data or product content, serves as a comprehensive source of knowledge about the product and helps potential customers understand its use, benefits, and value. Every product, whether a simple household item or a complex piece of machinery, has its product information published alongside it.

Examples of product information include:

Product descriptions: Detailed narratives that explain the product’s features, benefits, and unique selling points.
Product attributes: Specific details such as size, color, material, weight, and other key specifications.
Digital assets: Images, videos, and multimedia elements that visually represent the product.
Pricing information: Cost of the product, including discounts, offers, and comparative pricing.
Shipping and return policies: Information on delivery times, costs, and return procedures.
Stock availability: Real-time data on whether the product is in stock or back-ordered.
Customer reviews: Feedback and ratings from other buyers that help build trust and credibility.

For a comprehensive list of product information types, check out our “18 Types of Product Information for eCommerce (with Examples)” blog article.

Where can product information be found?

Product information is available in different formats and places. It is often found on product labels, packaging, catalogs, and in-store displays, providing details that customers can see directly. On digital platforms, product information can be found on product detail pages, in digital ads and in customer reviews. Sometimes these presentations are accompanied by rich imagery, such as lifestyle photos or graphic animations, to make the products more attractive and appealing to customers.

There is also a less-obvious source of product information that some companies overlook: the sales staff.

Sales staff play an important role in providing customers with personalized advice and insight into products, especially in retail, where customers often turn to them for help. They have a wealth of information and can provide tailored recommendations and product comparisons based on their expertise and first-hand knowledge. For this reason, it is recommended that companies create a single source of truth for all products and product information that sales teams can access so they can familiarize themselves with product details or extract the necessary data to advise customers effectively.

For B2B companies, product information also includes specialized industry publications and technical data sheets. These resources delve deeper into product specifications, capabilities, and use cases and are specifically aimed at professionals and companies looking for detailed and niche technical information.

How can companies manage product information?

There are four different methods companies can employ to manage product information, each with its own advantages and challenges:

Manual management with Excel spreadsheets: Many start-ups and small businesses initially use Excel spreadsheets to store and manage product data manually. While this may be easy to set up and use, the larger the product range and data grow, the more difficult it becomes to maintain by hand, especially when the data becomes spread across multiple spreadsheets.
eCommerce platforms: While eCommerce platforms are handy for managing product catalogs and related information, they typically only offer basic data management capabilities that are limited to their own ecosystem. For companies selling across multiple channels, this is a challenge as maintaining consistent and enriched product information across different platforms can be tedious.
All-in-one data management tools: Tools such as Master Data Management (MDM) and Enterprise Resource Planning (ERP) systems are meant to be a central hub for different types of data. However, when it comes to processing product information, they can only perform basic tasks. For more specific tasks such as product enrichment and channel-specific data formatting, these systems fall short and you need to turn to external solutions to handle these parts.
Product Information Management (PIM) systems: Product information management systems are designed to manage product information and provide the functionality that product managers and sales teams need to market products properly. They meet various product data requirements, such as data syndication, digital asset management, and content localization, to name a few. More importantly, they also provide workflow management and automation capabilities. These features make working with product data less time-consuming and error-prone, as well as more efficient and productive.

If quality control of product information is a top priority, then investing in a PIM system is highly recommended, as there is no better solution that can help with this.

Companies with simple PIM requirements can use an on-premise, out-of-the-box PIM system. However, for organizations with specific business needs, a PIM system with a best-of-breed approach is the best option as it offers scalability, integration capabilities and performance enhancements through packaged business capabilities. Despite the initial cost of implementing a PIM solution as a standalone system, its meticulous approach to working with product information ensures high product data quality and proves cost-effective over time.

Why is comprehensive product information important?

Detailed and precise product information is necessary for businesses to create compelling marketing materials and sales pitches that fully highlight the unique features and benefits of their products. Having oversight of the product catalog can also help with inventory management and prevent stocking issues. Compliance with regulations is crucial, especially in industries like food, pharmaceuticals, and cosmetics, where accurately communicating information about allergens and health hazards to shoppers is mandatory by law.

Most importantly, if any piece of product information is missing or incorrect, it can be construed as product misrepresentation, and that can result in legal issues and reputational damage.

For customers, having comprehensive product information will help them understand the product and how it meets their needs. Detailed descriptions, technical specifications, and usage instructions help customers visualize how the product will fit into their lives. High-quality product information, such as reviews and ratings from other customers, builds trust in the brand and provides social proof. Demo videos and lifestyle photos offer a clear, visual representation of the product in use that words alone cannot achieve. All this product information combined will give shoppers confidence in their purchasing decisions, which reduces the likelihood that they will regret the purchase, return the product, or leave a disappointing review.

Moreover, with the upcoming Digital Product Passport (DPP) initiative in the EU, there is a growing emphasis on sustainability in the marketplace. The DPP aims to increase transparency throughout a product’s lifecycle, documenting details like materials used, production methods, and environmental impact in an accessible format for both shoppers and companies. Soon to be mandatory for companies wanting to do business in the EU, adopting robust product information management practices will ensure they comply with the DPP regulations and also appeal to environmentally conscious consumers who value sustainability and ethical labour practices.