Product Marketing & Product Management

New products are your company's life's blood. Product development represents a major investment and a large chunk of operating costs. The stakes are high, as are the risks. Therefore, it is vital to insure that your product development program is addressing the right customers with the right product set that meets their key purchase criteria, and that it does so better than your competitors.

These areas of marketing require a broad understanding of technical issues, as well as the market and, most important, your customers and their business problem you are addressing. Nexentra can put in place and facilitate a more systematic and objective process for defining new products that meet the requirements and needs of targeted customers within a defined window of opportunity. We can also help insure that your new product is sales-ready and work with you to manage the release process and the critical product launch.

Product Management Defined

Product management is a function that deals with the day-to-day management and welfare of a product or family of products at all stages of the product lifecycle. In addition, the product management function is usually responsible for product definition by leading the Product Realization Process.

The product management function 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 such as product marketing, program management, and project management. The Product Manager is responsible for:

● Defining new products and product requirements (Product Development)

● Defining product business criteria including cost management

● Translating feature requirements into engineering specifications

● Securing internal resources for product team

● Working across all functions to bring a product to launch

Product management coordinates the activities of the entire organization to meet the needs of the customer

● Expanding the definition of the offering to fit the whole product philosophy

● Leading cross-functional product teams to execute the product realization process

● Defining maintenance, support and warranty requirements

● Evangelizing the product internally across all departments as well as externally with press, customers, and partners

● Bringing new products to market

● Product differentiation

● Product positioning and outbound messaging

● Product Life Cycle management

● Product portfolio management

Conclusion

Nexentra can provide experienced and highly-skilled product marketing and product management to help you define, develop, test, launch, promote, and manage your product or service. We can also provide training and coaching to your in-house team.

Contact us to learn how we can help you with your product marketing/product management efforts.

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