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MARKETING MANAGEMENT - Concept Of A Product

Decisions, Which Are Useful For Products Management - Concept Of A Product

   Posted On :  18.06.2018 02:52 am

The search for competitive advantage – and escape from price-based competition – often centers on the value – creating supplementary services that surrounds this core and add differentiation.

Decisions, Which Are Useful For Products Management
 
The search for competitive advantage – and escape from price-based competition – often centers on the value – creating supplementary services that surrounds this core and add differentiation. Managers should be aware of the important of selecting the right mix of supplementary service elements-no more and no less than needed –and creating synergy by ensuring that they are all internally consistent. Customer research, evaluation of competitive offering and feedback from employees can all provide important inputs to the decision making process. Three principal factors should be considered here are.
 
1. The nature of the market and competition from the product
 
2. The nature of assistance needed by the product regarding production, engineering, financing, staffing and so on,
 
3. Strategic requirement of a border nature, namely, those affecting the product line, the business or the whole corporation.

Factors To Be Considered In Organizing For Product Management

 
1. What do we want to out of product management
 
2. What do we want our product manager to do?

3. How do we want our product manager to do their jobs?
 
4. What operational guidelines will we established?
 
5. What expectation do we have for the specific contribution of product manager and product management?
 
6. What authorities will be assigned to product managers?
 
7. What are the number and nature of products and managers?
 
8. What are product objective?
 
9. How will we measure the effectiveness of our product management?
 
 

Role Of Product Manager In An Organization

 
 
In assessing the product manager’s performance the following checklist can be used:
 
1. Product line control
 
2. Product life cycle, analysis and capitalization
 
3. Product development and success of new products recommended
 
4. Improved communication
 
5. Improved supplies and sourcing
 
6. More and better market information
 
7. Wider and better market information
 
8. Centralized products planning
 
9. Coordination of activities
 
10. Achievement of planned profits
 
11. Cost and profit control 
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