...Discipline of Product Management Product development is the process of designing, building, operating, and maintaining a good or service. Software and Internet companies use a product development process to ensure that they are not just manufacturing a technology, but creating a product that people will want to buy and continue to use. To be sure, a base technology is at the heart of the product, but product development ensures that the customer’s voice is not lost in the rush to an exciting technology. Product development adds things like pricing, marketing, and customer support to the technology to create a complete product. Without a product management philosophy and discipline, an IT organization becomes focused on the technology instead of the customers and is often organized along technology lines rather than in ways that benefit the customer. Ultimately, an IT organization must serve its customers or it will go out of business, either because the customers go away or because they complain to executive management until the organization is changed. Product Development: Product development is performed by a multi-disciplinary team whose goal is building, operating, and maintaining the product. Team members may include product managers, software developers, project managers, product operations engineers, customer support managers, software quality assurance engineers, user interface design engineers, marketers, financial personnel, and graphic artists. The product manager...
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...CASE STUDY Bill punched a few huttons on his computer keyboard and called up a series of graphs. The first documented the growing percentage of LaTreat sales connected with promotional offers. A second graph disaggregated LaTreat's promotion-related sales by four buyer categories Bill had created from BehaviorScan data. "Loyalists" were longtime customers who increased their purchases in response to a deal. "Trial users" bought LaTreat for the first time hecause of the promotion and who seemed to be turning into ioyal customers. "Accelerators" were longtime customers who used coupons or rebates to stock up on product they would have bought anyway. "Switch-on-deal" customers were nonusers who bought LaTreat when there were promotions but demonstrated little long-term loyalty. Bill's graph documented that a majority of LaTreat's coupon redeemers fell into the last two categories, with "loyalists" accounting for a shrinking percentage of sales. Finally, Bill called up his ultimate evidence-a graph that adjusted LaTreat sales to eliminate the effect of promotions. ¡See the illustration.) "I'm amazed you spent your weekend doing this," Barbara said, "but I'm glad you did. It'll help us think through future marketing strategies for LaTreat. But it doesn't change what the committee decided. It's time to move on." "I'm not so sure," Bill replied. "I hope you don't mind, hut I think I should show these data to Bob. Maybe he can convince the committee to reconsider. After all, if LaTreat...
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...The Top 12 Product Management Mistakes And How To Avoid Them Martin Cagan Silicon Valley Product Group THE TOP 12 PRODUCT MANAGEMENT MISTAKES – AND HOW TO AVOID THEM Martin Cagan, Silicon Valley Product Group Bad products are everywhere. Products that simply aren’t useful, don’t work right, are too difficult to learn, or that take forever to sell. Little wonder, as there are so many things that have to go right in order to create a successful product. There are, however, some pitfalls that occur so frequently and are so damaging that we believe they are at the root of the vast majority of bad products. In this paper we review each of these pitfalls and describe why it’s so easy to get confused and fall into these traps. Keep this list handy, as it can hopefully serve as a reminder of the dangers to avoid in your own product development efforts. 1. Confusing Customer Requirements with Product Requirements Many product teams look to the marketing function or sales or the customer to define the product to be built. If you’re building a custom product, or doing contract product development work, then letting your marketing or sales organization define your product may be fine. However, if you’re trying to build an innovative product that will meet the needs of a wide range of customers, then this approach will rarely produce the product you want. The logic goes that the marketing organization communicates with the sales organization and the customers, and hence they are...
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...1. What is product management? - The organizational structure within a business that manages the development, marketing and sale of a product or set of products throughout the product life cycle. It encompasses the broad set of activities required to get the product to market and to support it thereafter. 2. Why is it product management is important in the field of marketing? -Product management is important in the field of marketing so that you can define, develop, deploy and maintain products and services. 3. Give at least 10 breakthrough innovations that change our lives. a. Air conditioner – Cooler than electric fan great for hot climates. b. Electronic Mail – you can get your mail instantly c. Electronic Load – more convenient than prepaid cards because of its cheaper denominations and it is readily available everywhere. d. Mobile Phones – easy to carry than telephone and communicate. e. Digital Camera – easier way to view your picture right after you took it. f. Foldable Umbrella – you can carry it anywhere without any hassles. Fits easily in your bag. g. Automobiles – more easy to use for starters because of its automatic transmission/ h. Play Station Portable – you can carry it anywhere and you can get games just by downloading it. No need for Cd’s i. Washing Machine – easy way to wash clothes. No need to use your hands. j. MRT/LRT – easiest way to roam around Manila without getting caught...
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...Aristotle University of Thessaloniki PRODUCT LIFE CYCLE MANAGEMENT IOANNIS KOMNINOS Electronic Engineer, B.Eng M.Sc.(Eng) Thessaloniki 2002 Product Life Cycle Management 2 CONTENTS INTRODUCTION PART 1: PRODUCT LIFE CYCLE MODEL DESCRIPTION 1. PRODUCT DEVELOPMENT PHASE 2. INTRODUCTION PHASE 3. GROWTH PHASE 4. MATURITY PHASE 5. DECLINE PHASE PART 2: ANALYSIS OF PRODUCT LIFE CYCLE MODEL PART 3: PRODUCT LIFE CYCLE TECHNIQUE EXAMPLE: PRODUCT CANNIBALIZATION 1. UNFAVORABLE CANNIBALIZATION 2. OFFENSIVE CANNIBALIZATION STRATEGIES 3. DEFENSIVE CANNIBALIZATION STRATEGIES PART 4: PRODUCT LIFE CYCLE IN RESPECT TO TECHNOLOGY LIFE CYCLE PART 5: USE OF PRODUCT MANAGEMENT FOR SUCCESSFUL PRODUCT LIFE CYCLE ANNEX 1 ANNEX 2 REFERENCES 3 4 4 5 6 7 8 9 12 12 13 14 16 18 20 23 25 URENIO - Urban and Regional Innovation Research Unit http://www.urenio.org Product Life Cycle Management 3 INTRODUCTION All products and services have certain life cycles. The life cycle refers to the period from the product’s first launch into the market until its final withdrawal and it is split up in phases. During this period significant changes are made in the way that the product is behaving into the market i.e. its reflection in respect of sales to the company that introduced it into the market. Since an increase in profits is the major goal of a company that introduces a product into a market, the product’s life cycle management is very important. Some companies use strategic...
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...ASSIGNMENT COVER SHEET(to be completed by the student) | AIB student ID number: | A12784 | | | Student name: | JASON FARADAY | | | Course name: | MARKETING MANAGEMENT | | | Subject name: | NEW PRODUCT MANAGEMENT | | | Subject facilitator: | TIMITRA WILLIAMS | | | Teaching Centre: | SITAL COLLEGE OF TERTIARY EDUCATION LIMITED | | | No. of pages: | 14 | | | Word count: | 1913 | | | DECLARATION | I, the above named student, confirm that by submitting, or causing the attached assignment to be submitted, to AIB, I have not plagiarised any other person’s work in this assignment and except where appropriately acknowledged, this assignment is my own work, has been expressed in my own words, and has not previously been submitted for assessment. | ASSESSMENT SHEET(to be completed by the examiner) | Student name: | | | | Course name: | | | | Subject name: | | | | Assessor/marker: | | | | COMMENTS | Principles learnt (for example, number and understanding of principles referred to, their influence on the structure of this paper, number and correct citations of references, use of appropriate jargon) | | /4 | | | Application of principles. That is, the analysis and evaluation of the example problem based on the principles, including the final recommendations and their justification | | | /8 | | | How well the example problem was described, including the extent and depth of information...
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...Briefly describe and explain a classic ‘new product development process’ (NPD) and then propose a developed ‘business analysis’ to justify the decision of your group to launch or not launch a DVC brand in year 7. Within that analysis and justification and using suitable data, make some mention of the product life cycle, the BCG matrix, opportunity cost, and risk. Finally, provide a critical assessment of the value of this classic ‘NPD process’ to both TMG! and to the ‘real world’ of consumer durables. The new product development process (NPD) is the process when a company decides to develop and introduce a new product into the market. NPD is important and crucial for all the organisations. The consumers play a major role in this process because this process is carried out keeping the needs and the preferences of the consumers in mind. The NPD process consists of eight stages and only then the new product is brought into the market. These eight stages consist of Idea generation, idea screening, concept development and testing, marketing strategy and development, business analysis, product development, market testing and commercialization. The company may decide to introduce the product in an existing or a new market. This decision depends on the type of product and the type of market. Ansoff matrix gives a better understanding about the relationship between the product and the market. Ansoff matrix is a tool used by the marketing departments of the companies as a general strategy...
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...[pic] FACULTY OF SCIENCE & TECHNOLOGY MAY 2015 EBTD 4103 NEW PRODUCT DEVELOPMENT MATRICULATION NO. : 850919085881001 IDENTIFICATION NO. : 850919-08-5881 TELEPHONE NO. : 012-278 1322 E-MAIL : mnoridham@oum.edu.my LEARNING CENTRE : Shah Alam Learning Centre TABLE OF CONTENTS PAGE NUMBER 1. INTRODUCTION OF THE SELECTED COMPANY ................... 2 2. LITERATURE REVIEW ON THE VARIOUS STAGES IN A PRODUCT LIFE CYCLE …………………………………………………......... 3 3. ANALYSIS OF THE SELECTED PRODUCT ACCORDING TO THE STAGES IN THE PRODUCT LIFE CYCLE .......................................................................................... 5 4. RECOMMENDATIONS TO THE COMPANY ON HOW THE COMPETITIVENESS OF THE SELECTED PRODUCT CAN BE IMPROVED ................................. 8 5. CONCLUSION ......................................................................................... 8 6. REFERENCES ......................................................................................... 9 1. INTRODUCTION OF THE SELECTED COMPANY 1. The Nestlé company history The history begins back in 1866, when the first European condensed milk factory was opened in Cham, Switzerland, by the Anglo-Swiss Condensed Milk Company. In Vevey, Switzerland, our founder Henri Nestlé, a German pharmacist, launched his Farine lactée, a combination of cow’s...
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...7. PROJECT MANAGEMENT Syllabus Definition and scope of project, Technical design, Financing, Contracting, Implementation and performance monitoring. Implementation plan for top management, Planning Budget, Procurement Procedures, Construction, Measurement & Verification. 7.1 Introduction Project management is concerned with the overall planning and co-ordination of a project from conception to completion aimed at meeting the stated requirements and ensuring completion on time, within cost and to required quality standards. Project management is normally reserved for focused, non-repetitive, time-limited activities with some degree of risk and that are beyond the usual scope of operational activities for which the organization is responsible. 7.2 Steps in Project Management The various steps in a project management are: 1. 2. 3. 4. 5. 6. 7.2.1 Project Definition and Scope Technical Design Financing Contracting Implementation Performance Monitoring Project Definition and Scope What is a Project? “A project is a one-shot, time-limited, goal-directed, major undertaking, requiring the commitment of varied skills and resources”. A project is a temporary endeavor undertaken to create a unique product or service. A project is temporary in that there is a defined start (the decision to proceed) and a defined end (the achievement of the goals and objectives). Ongoing business or maintenance operations are not projects. Energy conservation projects and process improvement...
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...LOYOLA INSTITUTE OF BUSINESS ADMINISTRATION PGDM FULL TIME – F13 PRODUCT AND BRAND MANAGEMENT TAKE HOME ASSIGNMENT (Individual) SUBMISSION DEADLINE: 15/11/2014 MARKS: 20 MARKS 1. Company X has a dominant share in the Indian sauce market and also owns a successful brand in the category. Research showed the company that there was a need for a sauce with a unique taste which could be taken with Indian as well as western snack foods. The company introduced ‘Tom Imli’, a tomato sauce with tamarind and tangy spices. The product is targeted at children in the age group of 8-14 years. a. In this situation, what are the products which you think would compete with this new product? b. Suggest a suitable positioning basis for this new product. c. Give your comment on the name ‘Tom Imli’. If you were asked to suggest an alternate brand name, what would you suggest and why? d. Discuss the importance of packaging for above product. 2. Pick a category basically dominated by two main Brands. Evaluate the positioning of each brand. Who are their target markets? Have they defined their positioning correctly? How might it be improved? 3. A leading consumer durable company wants to extend its brand in the packaged food business. Suggest a brand strategy on the basis of strong theoretical grounding. Discuss the process of marketing planning, if you are the product manager for packaged foods business. 4. As a brand manager of a leading holiday resort firm with...
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...Product Data Management System ( PDM ) consisting of engineering data management and engineering document management system is vital for the performance of an EPCI ( Engineering, Procurement, Construction and Installation ) contractor in Oil & Gas upstream projects segment. PDM is used by all functions in managing the projects execution as well as during life cycle of the asset for operation and maintenance. Currently engineering data and documents are produced and managed though many different IT platforms and systems. Due to multiple cycle of information production by different functions, this process is inefficient, high cost and prone to errors. Recent technological innovation provides a common database foundation which is accessible for data and document generation, updating and sharing between different functions. This innovation provides a high quality, lower cost and faster response to project requirements. This application is relevant to all engineering turnkey projects whether in Oil & Gas or other sectors. Integration of centralized PDM foundation database in the work process and Implementing in on the projects is leading to Innovation and positively impacting the project performance. PDM stores all data related to project that is generated and used during design, procurement, fabrication, installation and commissioning followed by operation and maintenance of the asset. Much of the data in PDM comes from sources such as Computer Aided Design ( CAD ) and...
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...Product and Brand Management “Lenovo: Building a Global Brand” 1 What should Lenovo’s overall corporate brand positioning and corporate branding strategy be in global markets? Why is developing a global corporate brand important to Lenovo? The needs to be an international company: To survive and succeed in the global business environment, Lenovo has no choice but to become an international firm in the PC business. In the Lenovo’s financial report we can observe the big differences between fiscal year 2005 and projected 2006’s taxes requirement of 35 million US dollars to projected taxes of 632 US million dollars. With China joined the WTO, Lenovo surely would lose its advantage of government intervention (tariff or other restriction of other PC companies, ex. HP, IBM) to ensure its market share and profitability in Chinese Market. Lenovo’s market share of 30% in 2001 was number one in the Chinese market, but Dell computer, upstarts, as well as PC clones also posted strong challenges to its leading market share. To grow the company, Lenovo would have to expand to the worldwide market that it didn’t have. With the acquisition of IBM PC division announced in December 2004 gave Lenovo a great opportunity to expand its territory outside Asia. To leverage this great acquisition, Lenovo needed to establish itself as an international company that could convert itself from a PC brand was little known globally to a company that not only can succeed in innovation to carry the legendary...
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...Product and Brand Management Ikea Assignment 1 Is Ikea a successful global brand? Why has it been successful? Ikea is a very successful global brand, not because it has 226 stores in Europe, Asia, Australia and the United States with 410 million shoppers a year, not because other global brand like Wal-mart stumbled in Brazil, Germany and Japan but for Ikea’s unique cultural branding that merges the value and fashionable design to ensure the creation of an affordable contemporary household goods (not just the furniture with 5-10% sales in each country with Ikea stores) for the middle-class. This uniqueness of its corporate DNA is the main reason why the Ikea is so successful globally. The frugality of the founder of the Ikea with his desire to create “better life for many”, these two tenets are deeply embedded into Ikea’s corporate DNA. The frugality combining with the obsession with design forming a unique brand that became a global cult brand. As a global brand Ikea stands for 1) Unique household products with contemporary design, affordable prices that will inspire consumers 2) A gathering place the global tribes that are sensible in cost, design, and green environment. 3) Egalitarianism. The Ikea as a corporation is very flat, the executives performs first-line employees’ job in an “Anti-bureaucracy Week” 4) High Competitive. Constantly dropping the price (2-3% annually) to provide the best values for customers (consumers). What is the relationship between Ikea’s...
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...PRODUCT MANAGEMENT INTRODUCTION TO PRODUCT MANAGEMENT Role and Scope of Product Manager Role of Product Manger Responsible for marketing of individual products or product lines • Creation and conceptualization of strategies for improving and marketing the assigned product line or brands. • Projection and determination of financial and operating plans for such products. • Monitoring execution and results of plans, with possible adaptation of tactics to evolving conditions. Scope of Product Manager: • Has no control over the functional departments that execute the plan • Lately, advertising function at micro level is being held by product managers Interfaces of a Product Manager Functions of a Product Manger 1. Market Planning Process SLEPT Customer (MKT Segmentation) Competitor (PDCT Segmentation) Sales Potential and Market Forecasting 2. Product Strategy Positioning / Branding Leveraging CBBE (LE / BE) NPD 3. Marketing Decisions Pricing Packaging Promotions (includes ADVT) Channels of Distribution Service 4. Monitoring Marketing Metrics Financial Metrics How is Product Manger different from Marketing Manger? • • • Focus Level of Operation Time frame of decision Making How is Product Management different from Brand Management? Differences • • • • • Brand can exist independent of product Brand has value on balance sheet Brand can deal with multiple product lines but still be coherent Brand is extendable Brand is a covenant or a promise of performance ...
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...Lille Angienette D. Yap COMK3B NEW PRODUCT INVENTIONS 1. The BrainPort system consists of a pair of sunglasses equipped with a video camera and a small electronic device meant to be held in the mouth, on the tongue. As the camera detects obstacles in the user’s path, it will trigger the tongue array to vibrate accordingly. This tongue array features 400 electrodes that can vibrate independently, with white pixels interpreted as a strong vibration, black as no stimulation and gray as medium stimulation—creating a sort of “image” on the user’s tongue. The BrainPort system consists of a pair of sunglasses equipped with a video camera and a small electronic device meant to be held in the mouth, on the tongue. As the camera detects obstacles in the user’s path, it will trigger the tongue array to vibrate accordingly. This tongue array features 400 electrodes that can vibrate independently, with white pixels interpreted as a strong vibration, black as no stimulation and gray as medium stimulation—creating a sort of “image” on the user’s tongue. BrainPort V100 2. Smart Insulin Patch The patch is embedded with more than a hundred microneedles that contain microscopic sacs of insulin and glucose-sensing enzymes. When the enzymes detect that sugar levels have risen too high, the insulin will be released into the bloodstream. The patch is embedded with more than a hundred microneedles that contain microscopic sacs of insulin and glucose-sensing enzymes. When the enzymes...
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