By asking this question, the interviewer wants to know that you have done your research on the company prior to your interview. They also want to know that you want that job specifically and not just any job. If you really want to work with a particular company you are going to invest the time it takes to get knowledgeable about what they do and the products and services they provide. The company you work for needs to know that there are specific reasons that you want to work for them.
Points to Emphasize
One of the most important things you can do during your application process is to research the company and find out specifically what products and services they provide.
Mistakes You Should Avoid
The important thing to remember when answering this question is that it is not about you. It is about the company and how their values and products align with yours.
Your response to this question needs to address specific products and services, as well as specific qualities that resonate with your own. Here is an example of an answer that appropriately responds to this question.
I have always had an interest in innovation, which is what specifically drew me to apply for this position. I have appreciated how for the past 20 years your company has proudly been a top performer in developing and maintaining equipment that keeps construction employees safe.
Knowing as much as you can about a company before your interviewer can help you more closely align with the company, which makes you a more viable candidate and gives you an edge over your competition.