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Introduction to Product Management
Managing the Product
- Full-scale launch of new product into marketplace
- Sales are low
- Little competition
- Limited distribution
- High marketing and product costs
- Promotion focused on product awareness and to stimulate primary demand – “pull strategy”
- Intensive personal selling to retailers and wholesalers – “push strategy”
Role of a Product Manager
- Modifying the product
- Modifying the market
- Finding New Users exporting is one way
- Increasing Use
- Creating New Use Situation
Criteria for Effective Objectives
- Measurable
- Clear
- Unambiguous
- Time-framed
- Consistent with long-term profitability of organization