The domestic and global markets are overflowing with a vast array of goods and services. In some industries, the number of new products introduced each year is mind-boggling. Consumer-product makers, for example, churn out more than 30,000 new products each year. Want to buy a product in the securities and financial services field? In the segment of mutual funds alone, you can choose from more than 7,000 products.10

For the customer, this much variety creates a “good news–bad news” situation. The good news is that almost all buyers have a choice when it comes to purchasing a product or service. People like to compare various options. The bad news is that so many choices often complicate the buying process. One of the most important roles of the salesperson is to simplify the customer’s study of the product choices. Later in this chapter we discuss how product features (information) can add value when converted into specific benefits (knowledge) that can help the buyer make an intelligent buying decision.