Beruflich Dokumente
Kultur Dokumente
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
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:
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
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