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Wednesday, September 23, 2015

Product Management Leads To Success

By Della Monroe


There is a lifecycle within every manufacturing company that handles the basics of planning and forecasting, not to mention production and marketing. As part of this structure, there are people in product management who are the enterprise's link to the public and soothsayers of demand. They know the customer's wants and needs and how to put the right goods in the correct place. In short, they integrate all aspects of the business process to move forward the supply chain.

To do the job well product managers take on a vital role in the company lifecycle. They can enter the realm of planning and forecasting, online production or end user marketing. While others may tackle research and development, they grab the ball and keep running. They integrate all aspects of an enterprise to help populate the supply chain. As such, people, data, and systems all fall into place.

Market conditions come into play in the selling process. A product's position is key. Its features and benefits must be clear and compelling. Tactics of the manager will vary based on the corporate culture. He or she may operate on their own or act as part of a team.

The features and benefits say it all and the product managers know how to get the word circulating. They know how to grab media attention and sales. They have strategies and tactics that have stood the test of time based on data analysis. If you question the need for these professionals, you are on the wrong track. There is vast benefit to adding such managers to the payroll and expanding overhead. They are worth their weight in gold. They can ride the roller coaster all the way to the top through the ups and downs of the business. They always seek to take their company to the next level.

Savvy executives soon learn the score and get on board with today's marketing needs. They start to understand a customer focus. It never ends with features of a product, but with bringing their benefits to light. It is about building a customer base that is loyal and supportive.

Managers of products will make the company more efficient as he or she works across department lines. They can ensure productivity and profit with their customer focus. Marketing is the essence of success. Problems must be identified and eradicated as you take something new to the public.

Solutions are offered by product managers who are troubleshooters in disguise. They are also opportunity seekers who know about generating revenues. They can read between the lines and communicate value to the team. They may even make financial forecasts for the COO. They have all the tools of the trade securely under their belt to be used at just the right time.

Companies can't and shouldn't do without these specialists. They understand the data and therefore the needs and wants of the customer base. They know when it is time for the next best thing and when it is apropos to cut losses. They are not production line schedulers, but are end run go-getters who guide everyone to a positive goal.




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