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International product management

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Basic concepts, Positioning, Saturation levels, Design considerations, COO effect, Strategic alternatives, Global products and brands, Building brands in International markets, Standardization versus adaptation.

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International product management

  1. 1. International Product Management
  2. 2. High Level Definition Product management is an organisational lifecycle function within a company dealing with the planning, forecasting, and production, or marketing of a product or products at all stages of the product lifecycle. Similarly, product lifecycle management (PLM) integrates people, data, processes and business systems. It provides product information for companies and their extended supply chain enterprise.
  3. 3. What Product Manager does The role may consist of product development and product marketing with the objective of maximizing sales revenues, market share, and profit margins. Product management also involves elimination decisions. The product manager is often responsible for analyzing market conditions and defining features or functions of a product and for overseeing the production of the product. The role of product management spans many activities from strategic to tactical and varies based on the organizational structure of the company. To maximize the impact and benefits to an organization, Product management must be an independent function separate on its own. While involved with the entire product lifecycle, the product management's main focus is on driving new product development.
  4. 4. Product Management Contd Depending on the company size and history, product management has a variety of functions and roles. Sometimes there is a product manager, and sometimes the role of product manager is shared by other roles. Frequently there is Profit and Loss (P&L) responsibility as a key metric for evaluating product manager performance. In some companies, the product management function is the hub of many other activities around the product. In others, it is one of many things that need to happen to bring a product to market and actively monitor and manage it in-market. In very large companies, the product manager may have effective control over shipment decisions to customers, when system specifications are not being met.
  5. 5. Product Marketing Product management often serves an inter-disciplinary role, bridging gaps within the company between teams of different expertise, most notably between engineering-oriented teams and commercially oriented teams. For example, product managers often translate business objectives set for a product by Marketing or Sales into engineering requirements (sometimes called a Technical Specification). Conversely, they may work to explain the capabilities and limitations of the finished product back to Marketing and Sales (sometimes called a Commercial Specification). In most technology companies, most product managers possess knowledge in business, user experience, software programming
  6. 6. Product Marketing Product Life Cycle considerations Product differentiation Product naming and branding Product positioning and outbound messaging Promoting the product externally with press, customers, and partners Conducting customer feedback and enabling (pre-production, beta software) Launching new products to market Monitoring the competition
  7. 7. Product Development Identifying new product candidates Testing products Defining product requirements Determining business-case and feasibility Gathering the voice of customers Scoping and defining new products at high level Evangelizing new products within the company Building product roadmaps, particularly technology roadmapsEnsuring products are within optimal price margins and up to specifications Ensuring products are manufacturable
  8. 8. Inbound vs Outbound Many refer to inbound as product development & outbound product marketing functions. Inbound product management is the "radar" of the organization and involves absorbing information like customer research, competitive intelligence, industry analysis, trends, economic signals and competitive activity as well as documenting requirements and setting product strategy. In comparison, outbound activities are focused on distributing or pushing messages, training sales people, go to market strategies and communicating messages through channels like advertising, PR and events.
  9. 9. Country-of-origin effect The country-of-origin effect (COE), also known as the made-in image and the nationality bias is a psychological effect describing how consumers' attitudes, perceptions and purchasing decisions are influenced by products' country of origin labeling ; Country of origin labelling originated in 1887 when the British government, in an effort to reduce sales of German and other non-English products to English consumers, passed a law requiring products manufactured outside England to be labeled with their country of origin Discussion : ---
  10. 10. Global Brands
  11. 11. Standardisation vs Adaption In international marketing, companies are involved in making global decisions in one or more variables of the marketing mix. Product standardization strategy refers to a uniform representation of all aspects of the product such as the quality, the materials that had been used, product name and packaging for all markets, regardless of the location around the world. In the contrast, the most challenging decision that a company may face in internationalization is the degree of standardization or adaptation in its operations. The question of standardization or adaptation affects all avenues of a business’ operations, such as R&D, finance, production, organizational structure, procurement, and the marketing mix. Whether a company chooses to standardize or adapt its operations depends on its attitudes toward different cultures.
  12. 12. Product standardization Product standardization is an efficient method to reduce costs and increase quality. By minimizing the differences in your products, you are able to rapidly increase production, streamline distribution, decrease raw material costs and reinforce product branding. The best product standardization strategies allow you to balance the need for targeted adaptation with the cost savings of standardization. Piston industry Nut & Bolt industry
  13. 13. Product Variation Differentiation Innovation Elimination
  14. 14. Target Market Target market involves breaking a market into segments and then concentrating marketing efforts on one or a few key segments. Ex: Toothpaste companies mostly focus on the different type of market segmentation in order to stay ahead of competitors.
  15. 15. Package & Design Changing the packaging of the product could confuse some long time, dedicated users. Then again a simple change in packaging base on the taste of the market may help to boost sales of the item in other cases. Certain colours, symbols, words, and imagery can be offensive or inappropriate in different countries. Ex: Most of the perfumes, cosmetics, shampoo & soap companies use the different design & packaging in different countries.

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