Product Management As Viewed From the Perspectives of Different Companies

1. Article: SequentLearning.com PRODUCT MANAGEMENT AS VIEWED FROM THE PERSPECTIVES OF DIFFERENT COMPANIES What does product Management mean in a High Tech company? Product Management consulting is everywhere over the chart of High Tech business. Usually the system resides in the marketing department. Or occasionally, it's in the engineering/product development department as well. Rarely will you see it performing its function. Many a times it is often used interchangeably with the "Product Marketing". In this part, it means accountability from cradle to grave of the marketing functions and product planning and for a particular product or product line. As such, working with the engineers to describe the product (product planning), and also driving the other major “3Ps" for the product--setting values, promotional strategy and distribution strategy is what product management is all about. However, in larger companies, you will be regularly encountering these functions which are divided into two distinct jobs: with the product marketing having the job of managing the product once it is in the market and Product Management handling the Product planning section. Usually in this situation, both functions are going to reside in the marketing department or the Product Planning section or occasionally in the engineering department. Variably you could see some changes on the theme are that the Product Management exists in the engineering department, but it only distantly bears a resemblance to the traditional classification of the term. In this case it is considered as “Product Planning", however the job and proficiency rest more closely with the engineering project manager, with lesser emphasis on exploring the market to go with marketplace needs with engineering capabilities In High Tech businesses, the Product Management capacity is most commonly a "matrix" position and consist lots of responsibly for product development in the market, and possessing lesser authority to ensure success. Product manager’s job is to convince the stake holder in the organization that the amount being spent is at the correct level and is justified. Apart from technical grasp, People skills are also important as for Product Manager's vital success. Just like a mini-GM for his product line in consumer markets, the Product Manager typically holds more direct power over the product development process and these departments will also work for him. The term Brand Manager is frequently used in consumer businesses as a substitute of Product Manager. However the Product Manager's attitude ought to be that of a "mini- CEO" with his product line similar to the genuine CEO. Verily, in the technological companies the Product Management/Marketing capacities don't possess an ability to handle the Engineering. Keeping this in mind it will guarantee that the master plan will dependably be looked out for, doing away with the possibility of a product line’s performance to be diminished by turf wars-or sub optimal strategic moves that are taken up because of poor inter department correspondence. These systems happen to be an integral part of any business development strategy. You can use the internet for details. Visit SequentLearning.com to know more about product strategy. ABOUT THE AUTHOR Jim Bailiff is an expert marketer and author of many celebrated articles and blogs about the art of product management and advertising. He recommends SequentLearning.com as the best name to trust in case you are looking for product management consulting for your company.