SEL4 - Product Service & Sector Knowledge Part 7 of 7 - Product experience, lifecycle and management-SEL4---Product-Service--Sector-Knowledge-Part-7-of-7---Product-experience-lifecycle-and-management

SEL4---Product-Service--Sector-Knowledge-Part-7-of-7---Product-experience-lifecycle-and-management

Video Transcription

Video Summary

The video explains how customers increasingly buy experiences, not just products, so businesses must create strong emotional or practical value-in-use. It outlines the product life cycle: introduction, growth, maturity, and decline, showing how investment and marketing needs change at each stage. It also introduces the Boston Matrix, which classifies products as question marks, stars, cash cows, or dogs based on market share and growth. The key message is that salespeople should understand product, service, and sector knowledge deeply to spot opportunities, support customer needs, and sell more professionally.

Keywords

customer experience

product life cycle

Boston Matrix

market share

sales knowledge