introduction to product management. today’s agenda role of the product management organizational...
TRANSCRIPT
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Introduction to Product Management
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Today’s Agenda
Role of the Product Management Organizational Structures Critical Skills of the Product Manager Changes affecting Product Mgmt. Overview of the Marketing Planning
Process Marketing Plan Assignment
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Role of the PM
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What Does A Product Manager Do? JUGGLES Must manage agendas of all functional
groups while staying focused on key brand/corporate objectives
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Marketer’s Job Simplified
Planning
Internal Selling
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Planning Activities
Annual Business Plans• Collect & Analyze product & category
data• Use analysis to develop marketing
strategies
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Internal Selling
Coordinating with other areas of the corporation to execute programs (ie R&D, Graphics & Promotion, Research etc)
Keeping Senior Management informed and supportive
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“The product manager has broad/heavy responsibility but virtually no authority per se (except the “authority” that is derived from the plans which have received approval by senior management)
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Organizational Structures
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Organizational Structures
PM’s Job depends on how the organization is structured
We will explore 3 Organizational structures;1. Product-Focused Organizations
2. Market-Focused Organizations
3. Functionally Focused
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Product Manager Acts as a “mini-CEO” Takes responsibility for overall health of
a brand Well Defined Hierarchy exists (ie Group
product Manager, Brand manager, Assistant Brand Manager)
Product-Focused Structure
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Product-Focused Organization
Advantages Locus of
responsibility is clear (directly accountable for brand)
Invaluable training & experience for PM
Disadvantages Inability to ask
fundamental questions (too close)
PM is may become somewhat removed from the action in the field
Short-term focused
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Market-Focused Organization
Defines authority by Market segment Segments can be industry, channel,
regions of the country or customer size Useful when there are significant
differences in buyer behaviour among the market segments
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Market-Focused Organizations
Advantages Strong Customer
Focus Easier to get
Product Managers to ‘pull together’
Better knowledge of company’s line of products
Disadvantages Does not give
managers full responsibility for products services (more coordination)
Lose ‘mini-CEO training’
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Functionally-Focused Organizations Align themselves by functions (ie Advertising,
Sales, merchandising) No Single person is responsible for the day-
to-day health of a brand CEO & Vice Presidents (VP’s) make
marketing strategy decisions Strategies are implemented through
discussion & coordination among functional groups
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Functionally-Focused Organizations Advantages Administratively
simple Functional training is
strong CEO & VP’s make
important strategy decisions
Disadvantages Limited responsibility for
specific products Conflicts b/w strategies
can only be resolved through discussion – time consuming
Narrow scope of managers – limits development
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More Variables: Industry & Size of Company High-tech Companies
– New Products– Feedback via web
Smaller Companies– more execution
Consumer Products Companies– more research– Evaluations on Profit & Loss
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Product Management: Critical Skills Teamwork Communication Skills Analytical Ability
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Discussion Topic
What market trends are impacting the role of the Product Manger?
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Category Management
Driven by increased power by retailer Analysis of category to optimize product
mix Product are business units customized
on a store-by-store basis Impact on marketing organization
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Marketing Planning
Process Overview
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Exercise
Get into groups of 4-5 people and complete the 2 pages on Marketing Plans handout
Be prepared to share your answers with the class