Product

&
Brand Management

CHAPTER OUTLINE
1.
2.
3.
4.
5.
6.

Introduction
A product managers potential interaction
Product Vs. General Marketing Management
Marketing Organization
Critical Skills in Product Management
Challenges Affecting Product Management

Marketing at its very core is

the
Process through which
VALUE
is exchanged

Strategic Marketing management

The process of
developing and maintaining a
strategic fit
between the organizations
goals and capabilities
and its
changing market opportunities.

Thinking Strategically
Where are we now?
(Assessment)

Where do we need to be?

(Gap / Future End State)

How will we close the gap

(Strategic Plan)

How will we monitor our progress

(Balanced Scorecard)

Marketing Mix
The marketing mix
is the set of
controllable, tactical marketing tools
that the firm blends
to produce the response
it wants in the marketplace.

The Marketing Mix

Four marketing activities
Product
Place

Target
Market

Promotion
Pricing

Product is the starting point of

Marketing Mix
Product

Price

Promotion

Place

Product Strategy
Product is the main
element of the marketing
mix

Product
Product is the core focus of a firm
around which all the activities revolve.
It is what the firm produces or offers
to the market.

10

Product Strategy
Involves creating a product offering
designed to satisfy customers
needs and wants and deciding
Physical
Intangible
and
Perceptual attributes

Role and Place of

Product Management

What Is A Product management ?

Product Management is a
strategic & business-oriented Role
focused on delivering solutions to
market needs.

What is Product Management

is an organizational lifecycle function
within a company
dealing with the planning,
forecasting and production or
marketing of a products at all stages
of the product lifecycle.

Product Manager
Identify profitable opportunities that
meet market needs

Launch products into the market

Withdraw products that longer meet
market needs

Oversee products already in the market

Product management is concerned

with three key areas
1. The internal organization structure for

managing current products.

2. The allocation of resources for

developing new products.

3. Dealing with changing market

conditions as products progress through

their life cycles.

What Else Does A Product Manager Do?

Manages the brands

Generates sales leads
Responsible for the profit & loss of the
product

Brings new products to life... maximizes

profits in existing products...

winds down unsuccessful products

Champions the product, internally and
externally

Product Management Decisions

All aspects of the marketing mix are
managed to maximize profit.

Key product decisions embrace

1.
2.
3.
4.

Product Modifications
Product Mix (Stretching)
Brand Design and Packaging
Maintenance or Withdrawal

Two Views On the Role

The role may consist of
product development
and/or
product marketing
which are different
but complementary efforts,
with the objective of maximizing
sales revenues, market share, and profit
margins

The Role

The product manager is often responsible for

analyzing market conditions and defining
features or functions of a product.

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, or a member of marketing or
engineering.

Inbound and Outbound

Many refer
inbound
(product development)
and
outbound
(product marketing)

Inbound Product Management

1. Inbound product management (aka inbound
marketing) is the "radar" of the organization and
2. involves absorbing information like customer
research, competitive intelligence, industry
analysis, trends, economic signals and
competitive activity

3. as well as documenting requirements and setting

product strategy.

Out bound Product Management

In comparison, outbound activities are
focused on distributing or pushing
messages, training sales people,
make market strategies
and communicating messages through
channels like advertising, PR and events.[

Product Development

Testing & Identifying new product candidates

Gathering the voice of customers
Defining product requirements
Determining business-case and feasibility
Evangelizing new products within the
company
Building product roadmaps, particularly
technology roadmaps
Ensuring products are within optimal price
margins and up to specifications

Product Marketing

Product Life Cycle considerations

Product differentiation
Product naming and branding
Product positioning and outbound
messaging
Promoting the product externally with
press, customers and partners
Conducting customer feedback
Launching new products to market
Monitoring the competition

The Product Owner Is a

Subject Matter Expert
Understand the domain well
enough to envision a product
Answer technical questions on the
domain for those creating the
product

End User Advocate

Describe the product with
understanding of users and use,
and a product that best serves
both

Business Advocate
- Understand the needs of the
organization paying for the product
and select a mix of features that serve
their goals

Communicator
- Capable of communicating vision and
intent deferring detailed feature and
design decisions to be made just in
time

Customer Advocate

Decision Maker

Understand the needs of the

business buying the product and
select a mix of features valuable to
the customer

- Given a variety of conflicting goals and

opinions, be the final decision maker
for hard product decisions

The Product Owner role is generally filled by a single person

supported by a collaborative team

Systems for Managing Products

An organization has
several options
or
combinations of options
for managing
its product lines.

Brand Management

Category Management

Regional Management

Target-Market Management

Continental and Global Management

Brand/Category Management
V.P. Marketing
Category
Manager
Brand
Manager

Category
Manager

Brand
Manager

Brand
Manager

Brand
Manager

Regional Management
V.P. Marketing

West

South
North

East

Sri
Lanka

Target Market Management

V.P. Marketing

Consumer

Small

Medium

Enterprise

V.P. Marketing

Youth

Women

Ethnic

Continental/Global Management
Global
V.P. Marketing

North
America

Europe

Australia

Latin
America

Wherever possible Domestic strategies will

be implemented in other markets.