Product Management Consultants providing sharp-end Analysis & Strategy
The essence of product marketing & product management
What is "Product Management"? The Definition of Product Management.
Product management is a highly disciplined and scientific process of managing the marketing mix in order to satisfy organisational objectives AND the target audience.
Product Management is the utilisation of business skills to maximise the optimal satisfaction of prime target audience prospects with the offerings made from the product portfolio under the administration of that executive.
While roles, levels of authority, responsibility and autonomy vary, the traditional Product Manager manages a group of similar products of product categories, along with a number of other product managers within a medium or larger sized company. All answer to a Marketing Manager, sometimes assisted by a Group Product Manager, both who should have significant operational experience and marketing experience.
Methods including analysis of the 'product', segment strategy, communications management, are demanding skills requiring specific training.
A product manager without formal and substantial marketing qualifications cannot possibly perform as well as an equally as talented executive who is trained. However, companies that need high technical understanding will sometimes appoint non-core marketing executives. These executives should be offered practical, relevant training as quickly as possible. Click here for Marketing Training
What functions does a Product Manager perform?
A Product Manager manages all the 8 "P's" of the marketing mix. Click here for the Definition of Marketing. A Product Manager uses ALL the connections between, and in, the firm, and the market, Click here for the Nexus of Marketing. managing these dynamics to optimise results in line with corporate goals and objectives.
Unless Product Managers are seasoned experts at Product Launch, how can they be expected to execute as important an event as a major launch with help? Introduction of a new product usually calls for latest marketing communications, extra-ordinary promotional spend, new service providers, critical sales forecasting skills, advanced market research interpretation and analysis and 1001 other things... all while trying to manage the existing product portfolio under their control.
At the very least, they should be mentored by a new product development and introduction specialist, and have the benefit of work-in-progress advice and assistance along the way Click here for Product Launch Check
The most basic questions for a product manager are "who is our target customer?", "what is our positioning objective?" and "will the positioning create and maintain superior value for the target customer?".
Market share is won by applying better positioning strategy with optimal marketing effort.
Optimisation of Marketing Mix
As business marketing consultants specialising in marketing mix optimisation , we help clients identify and utilise the best...
- Product Portfolio management, product development and product management methods known to business.
- Price Management and Pricing Strategies, in line with the marketing concept so as the maximise profits, revenues and lifetime value of a customer
- Promotional management techniques and tools for optimum use of advertising and BTL marketing communications activities
- Trade Partner and channel management strategies for best possible distribution and channel relationships.
Dynamic product management approach focuses on increasing market share by generating the best balance between increased value from existing customers and the pursuit of new customers.
Wise Words on Managing Products
If you're too busy to help those around you succeed, you're too busy. - Unknown