knowledge sharing

(noun)

An activity through which knowledge (i.e. information, skills, or expertise) is exchanged among people, friends, or members of a family, a community (e.g. Wikipedia), or an organization.

Related Terms

Examples of knowledge sharing in the following topics:

  • Team Selling

    • Team selling is a group of people representing the sales department and other areas in a firm, all sharing a common goal of increased sales.
    • The idea behind the concept is that teamwork and sharing knowledge can benefit the bottom line of a firm.

  • Training Programs

    • The company's Apple Stores are home to many young and knowledgeable sales representatives who are trained thoroughly in both product information and customer service.
    • Training and coaching involve sharing ones knowledge on selling products as well as motivating salespeople to practice what you tell them with customers on the sales floor.

  • Competition

    • If competitors are defined too narrowly, there is a risk that an unidentified competitor will take market share away without the company's knowledge.
    • These factors relate to a firm's marketing mix decisions and may be used to create a barrier to entry, increase brand awareness, or intensify a fight for market share.
    • Powerful buyers exist when they are few in number, there are low switching costs, or the product represents a significant share of the buyer's total costs.
    • For example, in slow-growth markets, competition is more severe for any possible gains in market share.

  • Estimating the Addressable Market

    • Few organizations track market share even though it is an important metric.
    • Though absolute sales might grow in an expanding market, a firm's share of the market can decrease which would bode ill for future sales when the market starts to drop.
    • Where such market share is tracked, there may be a number of aspects that will be followed:
    • Qualitative knowledge of the market based on experience may also be used to identify divisions that are likely to be useful.
    • The folio plot visualizes the relative market share of a portfolio of products versus the growth of their market.

  • Consumer Awareness

    • Product awareness can consist of consumer knowledge of brand benefits, features, slogan, tag lines and other brand messaging elements.
    • Similarly, brand recognition is the potential of consumers to retrieve past knowledge of the brand when asked or shown an image of the brand logo.
    • Brand awareness plays a major role in a consumer's buying decision process, and is essential to helping companies build market share.

  • Approach

    • How you approach a sales pitch in terms of attitude, prospect knowledge, and customized product will determine your success.
    • Now we have a more complete definition of a solution; It's a mutually shared answer to a recognized problem, and the answer provides measurable improvement. "

  • Social Behavior of Consumers

    • Observing and understanding how consumers behave and interact with each other has led to the introduction of new semantic analysis technologies allowing companies to monitor consumer buying patterns based on shared and posted content.
    • However, consumer behavior is also influenced by internal conditions such as demographics, psychographics (lifestyle), personality, motivation, knowledge, attitudes, beliefs, and feelings.
    • The information people post and share, as well as the relationships they build online, often transfer into an offline setting.
    • However, when behavioral targeting is done without the knowledge of users, it may be considered a breach of browser security and even illegal depending on country privacy, data protection and consumer protection laws.

  • Calculating Market Share

    • -- Revenue market share: Revenue market share differs from unit market share in that it reflects the prices at which goods are sold.
    • In fact, a relatively simple way to calculate relative price is to divide revenue market share by unit market share.
    • The most direct is market share, discussed above.
    • However, market share is not a perfect proxy of market dominance.
    • A line graph is one way to look at market share over time.

  • Consumer Privacy Issues

    • While the web provides a collaborative platform for consumers to perform searches and share and post content, it also exposes them to privacy issues including spam, data tracking, malware, identify theft, and defamation.
    • Site mechanisms like comment boxes, wall posts, "Like" buttons, and widgets facilitate the ability to share and post vast amounts of information with multiple users.
    • Despite consumer willingness to share and post brand-related content, companies that engage in social media advertising must be cognizant of their increased exposure to litigation on social media channels.
    • Some malware programs are designed to gather sensitive information from users without their knowledge.

  • Marketing Performance Metrics

    • Building a knowledge base of current and historic data that help drive marketing mix decisions and steer the company through rapidly changing market conditions
    • Short-term ROMI measures revenue such as market share, contribution margin or other desired outputs for every marketing dollar spent.