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  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
 Responsibilities of a |roduct Manager
|roduct Manager

|lans Gets org

Activities support for
regarding the mktg
product/prod program
uctline

Coordinates with
Analysisng the
other areas of the
market;
firm
Customers,
competitors,
&External
enivironment

Internal mktg of
Formulates the product
mktg objectives
& Strategies
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 are in charge of a division or SBU- Concerned with
managing ³




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More concerned about 

  
 direction of their
business groups
Typically makes strategic decisions about which products to


  
 to meet an overall financial
objective
Mktg managers 



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are in charge of a 

 or closely
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Their key decisions are  and revolve around the
 
 of their product
|roduct managers 

is 
  in the sense
they are more concerned about the short-run market share,
volume or profit targets.
Our focus in this subject is mainly on
|roduct mgrs tasks of
 
 

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 *American Marketing Association)
This manager is responsible for the planning, coordination, and
monitoring of performance of a product in a multiproduct
company or division.
The product manager reports to  
 
 or *if
there are numerous product managers) to an intervening level of
supervision such as


 
 or category
manager.
Some multibrand companies use the term #   

rather than product manager to denote this position.
Because the product manager does not have  
!
over the functional units that execute plans, this manager's
success in achieving product goals *e.g. sales, profits, and
market share) is largely dependent on his/her  


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Types of functional units with which the product manager has
working relationships include Y
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The product manager may be the principal point of contact
between  
 
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Although it is the exception rather than the rule, 

 
  may be an added responsibility of the product
manager.
If so, it is usually limited to 

  or 

  
.
Most often, a product manager is responsible for formulating
and implementing the marketing goals and strategies for
commercialized products.
As a rule, a product manager must coordinate the efforts of
various disciplinary specialists, e.g., manufacturing, sales and
marketing research.

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The tasks product manager performs are highly related to how
marketing is organised
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|roduct manager acts as a mini-CEO, taking responsibility for
the overall health of the brand
The person responsible for the success of the product is the
product manager
They develop ability to work with other areas of the
organisation
Weakness being narrow focus on one product, so inability to
fully appreciate the customer needs
Duplication of efforts by sales people- same customer being
visited by the sales people representing different products
from the same company
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Defining markets on the basis of marketing segments since
significant differences in #! # 
 in different
segments
Doesn¶t give product manager full responsibility of the products
and services
|roduct managers are more like 

 
 who implement
marketing programs developed by market managers
Greatest advantage is the focus on the customer
This is better for systems selling- in which several products are
bundled.
Dis advantages are
1) |otential for conflicts
2) Mini-CEO training lost
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Ëo single person responsible for the day-to-day health of a
product.
Marketing strategies are designed and implemented through
coordinated efforts
This structure suits companies with only one or two products
As the number of products increases the increased cordination
required could give rise to confusion.
Simple structure
Functional training better but general management training
less.
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Most companies have separate sales force structures and
coordinating relationship with marketing organisations.
Basic three types
1) |roduct/|roduct Structure- Sells a product or product lines
to all markets
2) |roduct/Market structure- each sales person sells all
products marketed by a division to a single market
3) Market/Market structure- has a market based marketing
organisation and a sales force that sells a complete product
line to a single market
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UËew ways of reaching customers

UThe data explosion
UThe increased value of brands
U|roduct-lifecycles are shortening
UIncreased power of retailers
UMore spending on Sales |romotion rather than
advertising
U|ricing and value
UIncreased importance of customer retention
programs
UIncreased global competition