Product management(pbm)

 A product is any offering by a company to a
market that serves to satisfy customer needs
and wants.
 It can be an object, service, idea etc.

 Professional backgrounds of Product
Managers
 Critical Skills
 Negotiation
 Teamwork
 Communication Skills
 Analytical abilities

 The Web
 The data explosion
 The increased emphasis on brands
 Changes in the balance of market power
 Increased importance of customer retention
programs
 Increased global competition

 Product Form
 Product Category
 Generic Competition
 Budget Competition

 Managerial Judgment
Products and Services
Markets Same Different
Same A B
Different C D
Clark & Montgomery (1999) found 3 major factors used for perceiving
competition by
Managers as : Size, success and threatening behavior

 Using behavioral data
 Using Customer judgments
 Perceptual Maps
 Similarity within consideration sets
 Product deletions
 Substitution in use

 Convincing customers in your market
segment that your brand is best (Product
Form )
 Convincing buyer that your product form is
best (Product category )
 Convincing buyer that your product category
is best (Generic
 Convincing buyers that the basic need your
product fulfills is an important one (Budget
competition )

 The time horizon of the marketing plan being
developed
 The stage of the product life cycle relevant
for the product
 The rate of change in the technological base
of the product

 Aggregate Market Factors
 Category Size
 Market Growth
 Product Life Cycle
 Sales Cyclicity
 Seasonality
 Profits

 Threat of new entrants
 Economies of scale
 Product differentiation
 Capital requirements
 Switching costs
 Distribution

 Threat of new entrants
 The bargaining power of buyers
 The bargaining power of suppliers
 The amount of intracategory rivalry
 The threat of product substitutes

 Economies of scale
 Product differentiation
 Capital requirements
 Switching costs
 Distribution

 When the product bought is a large
percentage of the buyers cost
 When the product bought is undifferentiated
 When the buyers earn low profits
 When the buyers have full information
 When the substitute exists for the seller’s
product and services

 Suppliers are highly concentrated; i.e.
dominated by a few firms
 There is no substitute for the product
supplies
 The supplier has differentiated its products or
built in switching costs
 Supply is limited

 Many or balanced competitors
 Slow growth
 High fixed costs
 Lack of product differentiation
 Personal rivalries

 Political
 Economic
 Legal
 Social
 Technological

Copyright © 2009 Dorling
Kindersley (India) Pvt. Ltd.
20-22

20-23

20-24
 Run informal sessions with customers
 Allow time off for technical people to putter
on pet projects
 Make customer brainstorming a part of plant
tours
 Survey your customers
 Undertake “fly on the wall” research to
customers

20-25
 Use iterative rounds with customers
 Set up a keyword search to scan trade
publications
 Treat trade shows as intelligence missions
 Have employees visit supplier labs
 Set up an idea vault

20-26
 Observe customers using product
 Ask customers about problems with products
 Ask customers about their dream products
 Use a customer advisory board or a brand
community of enthusiasts to discuss product

Copyright © 2009 Dorling Kindersley (India) Pvt. Ltd. 20-27
 Attribute listing
 Forced relationships
 Morphological
analysis
 Reverse assumption
analysis
 New contexts
 Mind mapping

 Gas stations + food
 Cafeteria + Internet
 Cereal + snacking
 Candy + toy
 Audio + portable

 Absolute product failure
 Partial product failure
 Relative product failure

 Product idea
 Product concept
 Category concept
 Brand concept
 Concept testing

20-31
 Communicability and believability
 Need level
 Gap level
 Perceived value
 Purchase intention
 User targets, purchase occasions, purchasing
frequency

20-32

20-33
 Target market’s size, structure, and behavior
 Planned price, distribution, and promotion
for year one
 Long-run sales and profit goals and
marketing-mix strategy over time

20-35
 Alpha testing
 Beta testing
 Rank-order method
 Paired-comparison method
 Monadic-rating method
 Market testing

 Sales-Wave Research
 SimulatedTest Marketing
 ControlledTest Marketing
 Test Markets

20-37
 How many test cities?
 Which cities?
 Length of test?
 What information to collect?
 What action to take?

 First entry
 Parallel entry
 Late entry

20-39
 Market potential
 Company’s local reputation
 Cost of filling pipeline
 Cost of communication media

 Adoption is an individual’s decision to become a
regular user of a product.

20-41
Awareness
Interest
Evaluation
Trial
Adoption

20-42

 Relative advantage
 Compatibility
 Complexity
 Divisibility
 Communicability

Product management(pbm)

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