Explain the questions Below Name:Course/Year:Student Number:Activity 11. How does understanding the Product Management Cycle help in undertakingeffective product management?2. During the product development phase which are the departments involved and whydoes the product undergo changes in specifications and functionality?3. Please explain in what ways the product management group can provide support toincrease sales and profitability of a product?4. How do you think feedback about the product can be taken from the customer? Oncethis feedback is taken what process will we follow to decide what feedback needs to beconsidered and what not?5. Why is test marketing done and what are the benefits for the company?

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Answered: 1. How does understanding the Product…

Principles Of Marketing

17th Edition

ISBN:9780134492513

Author:Kotler, Philip, Armstrong, Gary (gary M.)

Publisher:Kotler, Philip, Armstrong, Gary (gary M.)

Chapter1: Marketing: Creating Customer Value And Engagement

Section: Chapter Questions

Problem 1.1DQ

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Case Study One of the largest privately-held staffing companies in the United States, the client’s team includes more than 8,000 internal employees and 90,000 contract employees working with customers around the world. While the client’s core business growth is phenomenal, they are also diversifying into new industries, such as health care. This growth puts tremendous strain on IT resources supporting the growing list of projects, from business-critical IT infrastructure to meet the ever-increasing demands of business growth. System enhancements are underway to standardize business practices across newly acquired business units. The CIO’s vision for the future of IT includes improved performance in delivering projects, while maintaining costs and holding staffing levels to the absolute minimum. Implementing a PMO seemed a logical approach to achieving this vision. After an unsuccessful first attempt at implementing a PMO, the Company then turned to Project Champions’ expertise in PMO…
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1. How does understanding the Product Management Cycle help in undertaking effective product management?