1. Product Management
What is Product Management?
- It’s the process of satisfying consumers’ needs and
fostering a firms performance through effective
product-development and product-marketing.
This presentation seeks to answer the following question
What is product Management
What do the product Managers do?
Who does product management?
How does one become a product manager?
Role of product Management
The role of Product Management is to define, develop,
deploy and maintain products and services that:
provide more value than the competition
help build a sustainable competitive advantage
deliver financial benefit to the business
So what do the managers do?
product Managers like to solve Problems
product Managers spend time understanding what
customers need and want
then develop solutions that solve these problems and
satisfy needs and wants
Product managers have a duty to deliver and maintain
financial benefit to the business.
Product managers see things differently
How does one become a product manager?
Become good at understanding problems and
following a logical process to define and develop solution that
could solve these problems
Read books and blogs, listen to podcast and watch
videos to learn more about the product management
profession
Talk to product managers
Use principle of management in your current role
Look at products and services that you buy and use
and and apply a product managers perspective to
these
Apply for jobs in product management
Dream big!
Does product packaging influence consumers’ buying
decisions?
Product Packaging
“The outward tangible elements of a product.”
Colours
Size
Shape
Weight
Pictures
Labels
Materials
Is it worth spending a millions of pounds on product
packaging? YES
Portability – convenient to carry, transport and
consume
Preservation – high-tech packages are extending the
shelf-life of product.
It conveys critical product information to buyers.
Lack of information to make informed and educated
choice is perceived as risky by buyers.
Perceived Risk
1. Functional Risk
2. Physical Risk
3. Financial Risk
4. Social Risk
5. Psychological Risk
6. Time
Putting a message on packaging costs significantly less
than newspaper, TV, or internet advertising.
Visual elements of actual product.
Glossy packaging gives Luxurious or premium
impressior of the product.
Safety
“consumers want to be confident that the (package) is
safe and protects the contents, but they also want to
know if it is environmentally sustainable. “
Packaging serves to differentiate a product from rival
products.
It could serve as a sales promotional tool.
Multipacks mean Lower unit cost, cost-savings to customers.