Вы находитесь на странице: 1из 15

INTRODUCTION TO PRODUCT MANAGEMENT

Definition: Product, Brand 4 Ps of Marketing Overview of product management Perspective on a Product Managers interaction Product v/s general marketing management Types of Organisation Structure for Marketing Skills of a Product Manager

DEFINITION
Product Anything that can be offered to market for attention, acquisition and consumption that can satisfy a need or a want. A product can be ideas, goods or services that can generate customer satisfaction. Brand Name, term, sign, symbol or special design that is intended to identify the goods or services of one seller or group of sellers and to differentiate them from those of the competitors

4 PS OF MARKETING
Product Price: If high competitors product is preferred & If low firm may not get adequate returns Place: To make product accessible and available to target audience. Promotion: Activities undertaken to communicate and promote its products to target market.

OVERVIEW OF PRODUCT MANAGEMENT


Who is a Product Manager Responsibilities of a Pr. Mgr: 1. Planning activities related to product or product line & turning info into strategies and marketing objectives for the product. 2. To get the organisations support for the marketing programme recommended in the marketing plan. 3. Going for internal marketing of the product to obtain help and assistance of senior management of the firm.

PERSPECTIVE ON PRODUCT MANAGERS


INTERACTION

Product Manager
In-charge of a single or closely related product line

Marketing Manager
In-charge of division or SBU & manages portfolio of product.

Tactical decisions as he is involved in developing marketing obj and strategies for their products.

Strategic decisions about which products to add or drop and he manages to meet overall divisional financial obj.

TYPES OF ORGANISATION STRUCTURE FOR MARKETING


Product- focused Organisation

Head

Marketing

Finance

Market research

Product Manager

Manager of Product A

Manager of Product B

PRODUCT- FOCUSED ORGANISATION

1.

2.

Commonly used where different products use the same distribution channels. Pr. Mgr acts as a mini CEO, and takes care of overall health of the brand. Hierarchy gets developed within the product management system as asst pr. Mgr., Asso. Pr. Mgr and Pr. Mgr. Advantages: Locus of responsibility is clear which also makes clear to whom an organization can turn for information about the product. His training, experience and communication skills are invaluable.

CONTD
1.

2.

3.

4.

Disadvantages: Narrow focus on one product leads to inability to ask fundamental questions about customer needs. Product managers become too myopic by only concentrating on short-term sales and market share goals. Increase in short term marketing tools like sales promotion For industrial products risk involved is it can result in several sales persons representing different products from same company and calling same customer

MARKET FOCUSED ORGANIZATION


It is useful when there are significant differences in buyer behaviour among market segment leading to differences in marketing strategies and tactics used to appeal them. Advantages: 1. Its focus on customers makes it easier to consider change in consumer taste, modify or eliminate some of the products being marketed. 2. Have better knowledge about companys product offering as compared to product focused pr mgr.

CONTD

1.

Disadvantages: Potential conflict with product management structure.

FUNCTIONALLY FOCUSED ORGANIZATION

CEO

Decision makers

Marketing
Sales Promotion

Advertising

Marketing Research

Decision implementers

FUNCTIONALLY FOCUSED ORGANIZATION

These organization align themselves by marketing functions such as Advertising, sales promotion etc. In this type of organization structure, it is common to have different functions being performed under a single department. However, no single person is responsible for day-to-day operations of the product. The strategies are implemented through the coordinated activities. Strategy implementation is done through discussions and coordination among functional areas.

CONTD.

1.

2. 3.

Advantages: Serves well when the company has only two products. Simple to administer Functional training is better Disadvantages: Who is responsible for the product?

1.

SKILLS OF A PRODUCT MANAGER

1.
2. 3.

Critical Skills: Negotiation Teamwork Communication skills Analytical Ability

CHANGES AFFECTING PRODUCT MANAGEMENT

The web The data explosion The increased emphasis on brands Increased importance of customer retention programs Increased global competition

Вам также может понравиться