Product Management and Strategy
Dr. Prashant Mishra prashant@iimcal.ac.in

A Business Strategy
Product-Market Investment Decision • Product-market scope • Investment intensity • Resource allocation over business units Basis of SCAs • Assets/Competencies • Synergies Functional Area Strategies • Product • Price • Distribution • Etc.
Figure 1.1

The Four Ps: The Tools The Four Cs: The Ends
Marketing Mix Product Customer Solution Place ConvenPromotion ience Communication

Price Customer Cost

The Other 4Cs: The Participants
The Participants Competitors

Company

Consumer

Channel

Views on the Marketing Processes
5-C Analysis Customer Competitor Company Collaborators Context

S-T-P Marketing Segmentation Targeting Positioning

4 P’s Marketing Plan Product Pricing Promotion Place

The Functional View

Views on the Marketing Processes

Understanding Customer Value

Creating Customer Value

Capturing Customer Value

Delivering Customer Value

Sustaining Customer Value

The Process View

Understanding Customer Value
• Value is defined as the perceived worth in monetary units of the of the set of economic functional / technical and psychological benefits received by the customer in exchange for the price paid for for a product offering, taking into consideration the available offerings and prices. - Anderson, Jain and Chintagunta(1993)

Understanding Customer Value
Psychological

Functional

Economic

Plea From an Anonymous Customer
• Don’t Sell me Clothes, Sell me a sharp appearance, style and attractiveness. • Don’t Sell me a House, Sell me comfort, contentment, a good investment and a pride of ownership. • Don’t Sell me Toys, Sell my children happy moments. • Don’t Sell me Insurance, Sell me peace of mind, and a great future for my family and me. • Don’t Sell me Books, Sell me pleasant hours and the profits of