Product management
From Free net encyclopedia
Template:Marketing Product management is a function within a company dealing with the day-to-day management and welfare of a product or family of products at all stages of the product lifecycle.
The product management function is responsible for defining the products in the marketing mix. Product management typically deals with:
- Defining new products and product requirements (New Product Development)
- Defining product business criteria including managing costs
- Securing internal resources for product team
- Translating feature requirements into engineering specifications
- Working across all functions to bring a product to launch
- Leading teams to ensure execution towards product objectives
- Defining supportability requirements
- Evangelizing the product internally across all functions
- Evangelizing the product externally with press, customers, and partners
- Bringing new products to market
- Product differentiation
- Product positioning and outbound messaging
- Product Life Cycle considerations
- Product portfolio management
Product management may also represent an organization's approach to the process of managing and marketing its products and services as smaller businesses inside the larger enterprise, supported by multi-function product teams (led by product managers) and a standard product development process.
Product management typically deals with all of the end-to-end aspects of a product or product line including product profitability, the role may be split with closely related functions Product marketing, program management, and project management.
See also
- Product
- Product Manager
- Product marketing
- Marketing management
- Brand management
- Software product management
- Association of International Product Marketing & Management
External links
- Product Management & Product Marketing - A Definition - An article that discusses in detail the roles of Product Management & Product Marketing in the high-tech industry
- Your NPD Portfolio may be Harmful to your Business' Health - A research article on the practical application of Product Portfolio Management in Product Innovation - by thought-leader Dr. Robert G. Cooper
- Portfolio Management for New Products: Picking the Winners - A white paper dicussing the use of Product Portfolio Management in New Product Development - by thought-leader Dr. Robert G. Cooper