begin the course you will identify the major challenges facing you and focus the course material on the issues that are most
Overview of Product Lifecycle Management
This section provides an overall view of the product lifecycle and discusses the role of product
management and product marketing in managing the product from cradle to grave.
Understanding Goods and Services
product management starts with a deep understanding of the product. In this section, you will discuss:
- The definition of a product and the different levels of a product that exist from the customers'
- The various core benefits that a customer seeks and why these
are critical to the product manager
- Why factors beyond the product itself
often have the greatest impact on buying decisions and customer satisfaction
types of products and how these differences impact the nature of the product requirements
Action Learning Exercise:
Determining the different levels of a product
Lines and Product Mix
Rarely does a product stand alone - it is
part of a product line, and the line is part of a product mix. This section discusses each and describes the role of
product extensions in increasing market coverage.
Key Product Decisions
There are many decisions and considerations facing the product manager when he/she is defining
the product. This section examines the different elements of a product and how each must be considered explicitly.
- Product attributes
- Relationship to the brand
Action Learning Exercise: the Product/Brand Audit
Market Segmentation and Product Positioning
It is important
for your product to be positioned clearly in the minds of your customers and prospects, since fuzzy or poorly articulated
positioning may cause them not to take the next step in the purchase process.
- The importance of market segmentation in determining your product positioning
- How and when to position your product
- The warning signs that
positioning needs revising
Action Learning Exercise: Positioning a product
The Product Lifecycle: Inception through Launch
Product management is responsible for the first half of the product lifecycle - inception through launch. This section
reviews the stages of the product lifecycle with a focus on the critical first stages.
- The stages of the product lifecycle and the key activities within each
- A methodology for managing the development process that is in widespread use today
- A proven approach to screening ideas and the common mistakes that are made at this important step in the process
Action Learning Exercise: The new product development process
Preparing For the Launch
to marking the transition from development to commercialization, the launch is also the typical handoff of the product to
product marketing from product management. Both functions need to be intimately involved for the transition to run smoothly.
This section reviews:
- Overall activities associated with the product
- Internal launch preparedness
- Ensuring a smooth transition to production
The Extended Value Chain
There are many companies
ultimately involved in delivering the solution to the customer, each with a specific role to play. This section examines the
value chain from the perspective of:
- The direct value chain for your
- The extended chain of companies delivering the complete solution
to your customers
- How to develop and nurture your extended value chain
to leverage your company's internal resources
Action Learning Exercise: The extended value chain
Product Management Tools
provides a review of several popular tools and techniques that have proven helpful to product managers, including:
- Pricing strategies for new products
- Sources of customer input and feedback.
General Questions and Deferred Discussion
While most questions are addressed during the workshop itself, which is highly interactive,
some lengthier issues may get deferred until this point in the course. In addition, as time allows, we can explore other
topics of particular interest to the delegates.
The exam will be administered during the final
day of the program.
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