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PRODUCT

MANAGEMENT
CHAPTER 1: OVERVIEW AND INTRODUCTION
TO PRODUCT MANAGEMENT

LEARNING OBJECTIVES:
After studying this chapter, you should be able
to:
1. Understanding the principals of product
management
2. Outlining the role of a product manager
3. Discussing the different approach of product
management via the organizational structure
4. Highlighting the skills needed in managing a
product
5. Discussing the challenges facing product
management

CHAPTER OUTLINE
1.
2.

3.

4.
5.
6.

Introduction
A product managers potential
interaction
Product Vs. General Marketing
Management
Marketing Organization
Critical Skills in Product Management
Challenges Affecting Product
Management

INTRODUCTION

The planning activities related to the


management of product(s) or product
line
Obtaining organizational support for the
marketing plan

A PRODUCT MANAGERS POTENTIAL


INTERACTION

PRODUCT Vs. GENERAL


MARKETING MANAGEMENT
Product
Management

General Marketing
Management

Scope of
Responsibility

Narrow: Single
product or product
line

Broad: Portfolio of
products

Nature of Decision
Making

Mainly tactical

Mainly strategic

Time Horizon

Short-run (often
annual or shorter)

Long run

MARKETING ORGANIZATION:
PRODUCT- FOCUSED ORGANIZATIONS

MARKETING ORGANIZATION:
PRODUCT- FOCUSED ORGANIZATIONS
Advantages
Locus of responsibility is clear
Develop the ability to work with other
areas in org.
Advocate for the product

MARKETING ORGANIZATION:
PRODUCT- FOCUSED ORGANIZATIONS
Weaknesses
Focus on one product
Removed from where the action is
Too myopic
In-bred competition (product
cannibalization)

MARKETING ORGANIZATION: MARKETFOCUSED ORGANIZATIONS

MARKETING ORGANIZATION: MARKETFOCUSED ORGANIZATIONS


Advantages
Focus on customer
Resource & knowledge sharing
Work well for system or bundle sale

MARKETING ORGANIZATION: MARKETFOCUSED ORGANIZATIONS


Weaknesses
Potential conflict within the product
management structure
Locus of responsibility is ambiguous

MARKETING ORGANIZATION:
FUNCTIONALLY FOCUSED
ORGANIZATIONS

MARKETING ORGANIZATION:
FUNCTIONALLY FOCUSED
ORGANIZATIONS
Advantages
Administratively simple
Specialization
Well-coordinated

MARKETING ORGANIZATION:
FUNCTIONALLY FOCUSED
ORGANIZATIONS

Weaknesses
Who is ultimately responsible for the
product?
Focused only on functional development

CRITICAL SKILLS IN PRODUCT


MANAGEMENT

Negotiation
Teamwork
Communication skills
Analytical ability

CHANGES AFFECTING
PRODUCT MANAGEMENT

Internet
Data explosion
Increased emphasis on brand equity
Changes in the balance of market power
Increased importance of customer
retention programs
Global competition