Product Management

Topics: Product management, Marketing, Management Pages: 21 (5646 words) Published: April 7, 2012
Product management
From Wikipedia, the free encyclopedia
Key concepts|
Product • Pricing
Distribution • Service • Retail
Brand management
Account-based marketing
Marketing ethics
Marketing effectiveness
Market research
Market segmentation
Marketing strategy
Marketing management
Market dominance|
Promotional content|
Advertising • Branding • Underwriting
Direct marketing • Personal Sales
Product placement • Publicity
Sales promotion • Sex in advertising
Loyalty marketing • Premiums • Prizes|
Promotional media|
Printing • Publication
Broadcasting • Out-of-home
Internet marketing • Point of sale
Promotional merchandise
Digital marketing • In-game
In-store demonstration
Word-of-mouth marketing
Brand Ambassador • Drip Marketing|
This box: view · talk · edit|

| It has been suggested that this article or section be merged with Product_life_cycle_management_(marketing)and Product_lifecycle_management  to Product_management. (Discuss)|

| The Wikibook Marketing has a page on the topic ofProduct_Development| "Production management" redirects here. For other uses, see Production management (disambiguation). Product management is an organizational lifecycle function within a company dealing with the planning or forecasting or marketing of a product or products at all stages of the product lifecycle. Product development (inbound-focused) and product marketing (outbound-focused) are different yet complementary efforts with the objective of maximizing sales revenues, market share, and profit margins. The role of product management spans many activities from strategic to tactical and varies based on the organizational structure of the company. Product management can be a function separate on its own and a member of marketing or engineering. While involved with the entire product lifecycle, product management's main focus is on driving new product development. According to the Product Development and Management Association (PDMA), superior and differentiated new products — ones that deliver unique benefits and superior value to the customer — is the number one driver of success and product profitability.[1] Contents [hide] * 1 Aspects of product management * 1.1 Product development * 1.2 Product marketing * 2 See also * 3 References * 4 External links| -------------------------------------------------

[edit]Aspects of product management
Depending on the company size and history, product management has a variety of functions and roles. Sometimes there is a product manager, and sometimes the role of product manager is shared by other roles. Frequently there is Profit and Loss (P&L) responsibility as a key metric for evaluating product manager performance. In some companies, the product management function is the hub of many other activities around the product. In others, it is one of many things that need to happen to bring a product to market and actively monitor and manage it in-market. Product management often serves an inter-disciplinary role, bridging gaps within the company between teams of different expertise, most notably between engineering-oriented teams and commercial-oriented teams. For example product managers often translate business objectives set for a product by Marketing or Sales into engineering requirements. Conversely they may work to explain the capabilities and limitations of the finished product back to Marketing and Sales. Product Managers may also have one or more direct reports who manage operational tasks and/or a Change Manager who can oversee new initiatives. [edit]Product development

* Identifying new product candidates
* Gathering the Voice of customer
* Defining product requirements
* Determine business-case and feasibility
* Scoping and defining new products at high level
* Evangelizing new products within the company
* Building product...
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