product management1

7/31/2019 Product Management1

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A product is anything that can be offered to a

market to satisfy a want or a need.


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What type of Products are Marketed?

Physical Goods Cars, Shampoos

Services Financial, Repair

Persons Movie Stars, Political Leaders

Places Switzerland, Nanital

Organizations Girl Scouts, Political

Parties

Ideas Family Planning, Driving in Single

Lanes


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Products are classified into 3 groups

according to their durability and tangibility

Non-Durable Few uses soaps, salt

Durable Many uses clothing,cooking range

Services Intangibles banking,

brokerage


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Convenience Goods

Frequently used, purchased with

minimum effort bread, cooking oil

Shopping Goods

Purchased less often, comparison on

price, quality, and style TV, Mobile

Phone


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Specialty Goods

Purchased as desired, branded products

anti-aging cream, shampoos

Unsought Goods

Purchased on perceived need, can do

without food processor, water filter


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Fast Moving Consumer Goods (FMCG)

Groceries

Snacks

Detergent

Hair Oil


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Product Manager- Planning activities

related to product or product line and

Product manager must get the organization

to support the marketing programsrecommended in the plan


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Product

Manager

Advertising

Agency Media

Promotio

n

Services

Packagin

g

Purchasin

g

Sales

Market

Researc

h

Manuf.

and

Distrib.

Researchand

Dev.

Fiscal

Legal

Publicity


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Product Management is a part of marketing

management which concerns with product

planning and development and is now

extended to brand building andmanagement.


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Head of

Company/

Division

Manufacturing Marketing Finance

Corporate

Communicatio

ns

Product

Management

Marketing

ResearchSupport

Manager

Product B

Manager

Product A

Manager

Product

C


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Classic brand management structure

developed by P&G in 1930s

Commonly used where different products usethe same channels of distribution

Product Manager acts as a Mini-CEO


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Product Manager has the ultimate

responsibility for the brand

Associate Product Manager develops brandextensions or manages a small brand

Assistant Product Manager is responsible for

market and share forecasting, budgeting,coordinating with production, executing

promotions, and packaging


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Center of responsibility is clear

Clear who to turn to for information on the

product

Product has an advocate with training,experience, persuasion, and communication

skills


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Induces a centralized structure

Several salespeople representing different

products calling on the same customer


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P&G

General Foods

Adobe

FordMitsubishi

GM (adopted 1995, dropped 2002)


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Marketing authority by market segment

Useful when there are significant differences

in buyer behavior in the market segments

Does not give managers full responsibility for

the services or products delivered

Market Focused Organization


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Focus on the customer as an asset

Easier to justify product modification or

elimination

When consumer purchases many differentproducts form the same company

Enhances product manager interactions due

to specific knowledge in the particular

segment


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Possible conflict with the product

management structure that may lie below

Mini-CEO training and experience oftraditional product managers may be lost

Most product management skills need to be

sustained


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Levi

Bell


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Head of

Company/

Division

Manufacturing Marketing Finance

Corporate

Communicatio

ns

AdvertisingProduct

Planning

Sales

Promotio

n

Marketin

g

Research


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Aligned by marketing functions

Product and market-focused organizations

have aspect of this structure embedded in

their organizations A single manager is not responsible for day-

to-day marketing activities of the product

Marketing strategies are designed and

implemented through coordinated efforts


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Administratively simple

Useful if company has few products

The structure is logical with normal

marketing activities Functional training is easier to deliver

Managers become functional experts


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Product responsibility is shared so no one

down the line can be held accountable

Requires substantial time in cross-functional

meetings Training is limited to function

Marketing VP or head needs to do much of

the planning


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Intel

Apple

HP

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