Evolution of Product Management

In my opinion, the first P i.e. ‘Product’ is the most important component of the marketing mix. It is an instrument using which value is delivered to the customer. It is a ‘bundle of benefits’ that can be offered to and appreciated by a particular set of consumers. Products or services lie at the heart of a marketing strategy; they serve as means of differentiation for the company or a brand representative of a firm. If a customer purchases a product and it does not meet her expectations, then she

In order to have a successful business, you need two things. A product, and sales skills. Marketing focuses on the latter, specializing in the packaging and advertising of a product or service. Marketing is one of the fastest growing industries in the business world, with the average company inbound marketing budget going up by 49%. In the age of social media, marketing is more important than ever. Those interested in going into the marketing field must be ready for some struggles, as it can get highly competitive. With the large opportunity for growth in this field, extensive salary, and opportunities offered, this job can be perfect for those searching excitement, fast-paced jobs with plenty of room for meeting

The Assistant brand manager is responsible for developing the marketing programs and executing them in a skillful manner. They are required to be professionally talented to communicate excellently and manage the business analysis for the categories and brands for which they are assigned. Other responsibilities are

| * Take at least 5 academic courses on product management and read 5 articles

The brand managers in the model bore responsibility for profitability of the company. Brand managers of the same product division competed in the marketplace among one another but they shared access to strong divisional functions. A corporate basic-research

Whether it is a product design issue, a pricing concern, or an advertising problem, these issues need to be attended to and answered quickly with a definite answer; there is no room for people who cannot commit to a decision. Another essential quality to have is creativity. The success of a product relies heavily on how exciting of an idea you can create and how that can appeal to your target market. Marketing is one of the most competitive fields in the industry, diversifying your product from others is key so you need to have that competitive nature with you at all times. As for skills, a marketing employee typically needs to be excelled in computer skills. Collecting data, analyzing data, and compiling reports are all part of the job and you need to know how to successfully put this info into computer documents that are easy to read and understand. Organizational skills are also a very important quality to have because you often need to manage multiple projects and matters at the same time. Certain strengths to posses in the marketing field are written and oral communication skills and the ability to work with a team. Marketing teams often get together in groups to work on a project, and the ability for you to interact and share your ideas clearly is critical to the team’s success.

The consumer driven strategy adopted by the company at the time was innovative as instead of telling the consumer what to like the company brought them products that

The structure was made more product centric with product team managers assigned with the role of writing business plans for the products & integrating the functions.

The objective of this paper is to analyse the branding strategies used currently in the pharmaceutical industry and compare it to the best practices in Fast Moving Consumer goods. First the authors review the differences in the way branding is defined and organised in

It requires strong marketing ability including superior coordination among functions in product development and marketing.

You also have experts who handle marketing planning – strategizing a plan to effectively manage more than one product at a time in more than one market. Products that has been on the market a while can reached its life-cycle, therefore, at times a

The author further discusses the similarity of functions for managers working at marketing level and corporate level. At marketing level, the manager needs to take decisions related to product mix like –new product introduction, product deletion decisions, and effective management of present product mix. Similarly, the manager at corporate level have to take the decision like Entry into new product domain, Exiting from present product domain, etc.

Product management team –This important role is the bridge between the technology and sales team. They understand from sales team what product features can match the market needs and the price range the market is willing to pay. They communicate with engineering team on the required feature of the product and to manage the product cost. This is a very critical role as they look at the innovative product from both business and management perspective. Technology team can invent some world-class products which rock the market, yet whether the product can meet the client requirement within a reasonable cost, it will be for this team should examine. In Stamp expression case, product engineering is only involved after feasibility

Hence product marketing involves the creation, communication and delivery of the entity intended for sale to the customer. The product marketing generally follows the 7 P’s of marketing namely: Product, Place (and time), Price, Promotion, Process, Physical Environment and People. Of these the Physical evidence, Process and People are traits found more in a services marketing and hence many not apply in all instances of product marketing.

A product is normally a thing that sold to people and mostly is tangible. Basically, the marketing of product is particularly focused on 4P’s in marketing mix namely product, price, place, and promotion (Ehmke & Fulton & Lusk, n.d.). The marketer needs to analyze the major demand of customers in a specific market in order to find out a product that can respond the market demand. Firstly, it is necessary for marketers to focus on the strength as well as eliminate the vulnerabilities of marketed products in order to improve products to meet customer’s demand as much as possible. Secondly, the price is an important factor in product marketing because of the price must be set to match with