All too often, ''product management' means different things to different companies. Sequent Learning Networks believes that product management should represent a company's commitment to a standard approach to the creation, development, and management of market focused products and services.
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1. The Resurgence ofProduct Management Note this intent of this
presentation is to provide a high level glance at a critical area
related to product and marketing management.
2. Topics
Business and market trends
Reasons for product failure
Organizational issues
The importance of product management
The Product Management Life Cycle Model
Skills needed to avoid failure
Things to think about
3. Business and market trends
Mergers
Downsizings
Restructuring
Global business complexity
Product failures
4. Reasons why products fail
Not strategically important to the firm
Industry and competitive factors not understood
Customer needs not understood
Benefits sought by customers not understood
Poorly conceived Business Cases and financial models
Improperly positioned me-too products
Poorly promoted, distribution issues, and improperly
priced
Poor execution, unclear roles & responsibilities
5. Organizational issues
Loss of critical business and market sensing expertise
Lack of mentoring and coaching for new people
Too much churn in middle/upper-middle management
6. Product management is critical
Products are the life blood of the company
A common, holistic methodology is needed to view product life
cycles from beginning-to- end
Product management is part of a companys business model
Product management is not just about the job of a product
manager
7. Product Management Life Cycle Model Provides a complete
picture
A clear framework is needed to guide product planning,
development, launching, and post-launch management
This holistic view helps stakeholders understand what has to be
done and when
It sets up a method to clarify roles and responsibilities
across the entire life cycle
New Product Planning New Product Introduction Post-Launch
Product Management Concept - Idea Definition - Describe Development
- Create Launch - Introduce Strategic Management - Grow Mature
Decline Exit Feasibility - Assess DCP DCP DCP MDP MDP 8. Critical
skills needed to avoid failure These are the best practices
Strategic planning
Market research
Segmentation
Value modeling
Justifying investments
Positioning
Marketing mix management
Leadership
9. Things to think about
Examining the importance of product management in your
company
Clearly understanding the skills and experiences needed to
create an organization focused on strategically important and
financially viable products
10. Sequent Learning Networks
Training and advisory services focusing on:
Product management
Product development
Product marketing
Marketing management
Scheduled and on-site instructor led programs
Robust curriculum platform for rapid curriculum development,
customization, or pre-existing courses
