Related Directory Categories
- Management Tools (20)
- Production Management (11)
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Product management
From Wikipedia, the free encyclopedia
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This article does not cite any references or sources. (December 2006) Please help improve this article by adding citations to reliable sources. Unverifiable material may be challenged and removed. |
| Marketing |
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Product / Price / Promotion |
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Advertising / Branding |
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Printing / Publication / Broadcasting |
Product management is an organizational function within a company dealing with the planning or marketing of a product or products at all stages of the product lifecycle. Product Management is also a collective term used to describe the broad sum of diverse activities performed in the interest of delivering a particular product to market.
From a practical perspective, product management is an occupational domain which holds two professional disciplines: product planning and product marketing. This is because the product's functionality is created for the user via product planning efforts, and product value is presented to the buyer via product marketing activities.
Product planning and product marketing are very different but due to the collaborative nature of these two disciplines, some companies perceive them as being one discipline, which they call product management. Done carefully, it is very possible to functionally divide the product management domain into product planning and product marketing, yet retain the required synergy between the two disciplines.
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The various components of product management can be further broken down as follows:
- Defining new products and gathering market requirements
- Product Life Cycle considerations
- Product portfolio management
- Product differentiation
- Product positioning and outbound messaging
- Promoting the product externally with press, customers, and partners
- Bringing new products to market