Product management involves generating, planning, implementing, and controlling a firm's existing and new product efforts to satisfy customer needs while achieving organizational goals. Product managers make decisions about new products to introduce, existing products to modify or discontinue, and branding strategies. These decisions are influenced by factors like customers, competition, the business environment, and a firm's resources. Successful products exhibit quality, competitive pricing, development expertise, and a short development time. Challenges include dynamic markets, time pressures, and investment needs, while barriers are resistance to change, limited resources, reluctance from customers and retailers, and restrictive policies.

1. INTRODUCTION TO
PRODUCT
MANAGEMENT

2. Product Management
 Generating, organizing, planning, implementati
on and control of the firm’s existing and new
product efforts so to satisfy the needs and
wants of the chosen customer segments while
fulfilling organizational objectives – Yoram
Wind

3. Product Decisions
 New products to introduce
 Existing products to modify
 Existing products to be dropped
 Branding policy to be followed

4. Factors affecting product
decision
 Customer
 Competition
 Environment
 Firm’s Internal position
 Marketing efforts

5. Characteristics of successful
products
 Product Quality
 Product cost/ Competitive Pricing
 Development expertise
 Short Development time

6. Challenges of Product
Management
 Dynamic market environment
 Time pressure
 Investments needed

7. Barriers to New Product
Management
 Resistance to change
 Resource constraints
 Specific orientations
 Reluctance of customers to buy
 Reluctance of trade to carry the product
 Competitors trying tricks
 Government policies

8. THANK YOU