Introduction to Product Management Presentation

A presentation on the introduction to product management

1. product
management.
IRIS CRISTINE F. GONZALES

2. content.
INTRODUCTION
PRODUCT MANAGEMENT
PROCESS
PRODUCT PLANNING
SYSTEM
PRODUCT LIFE
CYCLE
01
02
03
04

3. content.
PRODUCT
PORTFOLIO
PRODUCT PRICING
BRANDING DECISIONS
POSITIONING
DECISIONS
05
06
07
08

4. content.
BRAND EQUITY
PACKAGING DECISIONS
GENERATION, SCREENING AND
DEVELOPMENT OF NEW
PRODUCT IDEAS
CONCEPT DEVELOPMENT
AND TESTING
09
10
11
12

5. introduction.
01

6. Product Management is an organizational function that
guides every step of a product’s lifecycle: from development,
to positioning and pricing. It involves strategically driving
the development, market launch, continual support, and
improvement of a company’s products.
A Product Manager is responsible for the success or failure
of a product. They facilitate collaboration with cross-
functional teams to ensure that a product meets both
business goals and the
introduction.

7. Product Management
Process
1. Identify a high-value customer pain point: Understand the
needs of your target market and determine which problems are
most important to them.
2. Quantify the opportunity: Estimate the market size for your
solution and assess the potential revenue that could be generated.
3. Research potential solutions: Investigate different ways to solve
the identified problem.

8. product
management
process.
02

9. 1. Gathering and
managing ideas:
This involves
identifying
opportunities,
understanding why
the user has a
problem, and how the
product can provide a
solution.

10. 2. Determining
product
specifications (specs):
Flesh out the ideas
into more concrete
plans.

11. 3. Creating a product
roadmap
This outlines the
future direction of
the product.

12. 4. Prioritizing
product features and
initiatives:
Decide which
initiatives will have
the biggest impact
and greatest ROI.

13. 5. Building a
minimum viable
product (MVP):
Develop a version of
the product with
enough features to
satisfy early
customers and
provide feedback for
future development.

14. 6. Releasing the
MVP:
Launch the product
to the market

15. 7. Analytics and
feedback
Measure the
product's
performance and
gather feedback for
improvement.

16. product planning
system.
03

17. product planning
system???
The Product Planning System refers to the
process of product development and
management that involves defining and
strategizing to create a successful
product1. It encompasses activities and
processes required to identify market
needs, set product goals, prioritize features,
and create a roadmap for product
development1. The goal of product
planning is to align business objectives
with customer needs and market demand

18. key
components
key
components

19. Market
Analysis:
Evaluating market
trends, customer
preferences, and
competitive landscape
to identify market
opportunities and
potential challenges.

20. Customer
Research:
Understanding the
needs, behaviors, and
pain points of target
customers through
surveys, interviews, user
testing, and data analysi

21. Product Vision:
Creating a compelling
product vision that
defines its purpose and
aligns it with the overall
business strategy.

22. Product Goals:
Setting specific,
measurable, achievable,
relevant, and time-
bound (SMART) goals
that guide the product’s
development and
success metric

23. Product
Roadmap:
Creating a visual
representation of the
product’s planned
features, timelines, and
priorities.

24. Prioritization:
Identifying and
prioritizing the most
valuable features and
functionalities based on
customer needs, market
demand, and business
objectives

25. Cross-
functional
Collaboration:
Collaborating with
various teams, including
product management,
design, development,
marketing, and sales, to
gather input, align
strategies, and ensure
smooth execution.

26. Iterative
Development:
Embracing iterative
and agile development
methodologies to
incorporate feedback,
adjust, and
continuously improve
the product

27. product life
cycle.
04

28. The Product Life Cycle (PLC) is a
concept that describes the stages a
product goes through from when it
is first introduced into the market
until it is removed from the market.
product life cycle.

29. stagesstages

30. IntroductionIntroduction
This is the stage when the product is first launched after development and testing. It
often includes substantial investment in advertising to make consumers aware of the
product and its benefits..

31. GrowthGrowth
If the product is successful, it then moves to the growth stage. This stage is
characterized by growing demand, an increase in production, and expansion in its
availability

32. MaturityMaturity
Eventually, the market saturates, and the growth of sales declines. In this stage, price
undercutting and increased promotional efforts are common as companies try to
capture customers from competitors.

33. DeclineDecline
This is the final stage of the cycle, where sales fall and the product eventually exits
the market

34. product
portfolio.
05

35. A Product Portfolio refers to
the collection of all the
products or services offered by
a company. Each product or
service in the portfolio may
have a different growth rate
and market share.
product portfolio

36. It is the complete list of products or
services that a company offers. For
example, if a company sells laptops and
smartphones, its portfolio contains laptops
and smartphones.
definition .

37. Product portfolio analysis can provide
nuanced insights into the workings of a
company and its earnings potential. It helps
management in the decision-making
process regarding product es.
analysis.

38. Product portfolios will tend to be different for
mature vs. younger growth companies. Mature
companies often have diversified product
portfolios, while younger companies might
have a more focused portfolio.
variation.

39. The process of maintaining a successful
portfolio requires effective portfolio
management. It includes the strategic selection
of markets, products, and technologies to invest
in, proper allocation of scarce resources, and
the selection of appropriate development
projects.
management.

40. An efficient portfolio will have the right
number of products exhibiting
inclination toward the business strategy.
It helps the business and its stakeholders
to have insight into its portfolio and
business
impact on
business strategy

41. product
pricing.
06

42. Product Pricing is a critical aspect
of a business strategy and involves
determining the price point at
which a product will be sold.
product pricing.

43. The first step in pricing a product is to
calculate the total cost of producing it. This
includes the cost of materials, labor,
shipping, and any other expenses related to
the production and delivery of
costs.

44. Understanding your target audience and
their willingness to pay for your product is
crucial. This can be determined through
target
audience.

45. Researching what your competitors are
charging for similar products can provide a
benchmark for your own pricing.
competitors.

46. pricing strategy.
This strategy involves setting a price based on how much the
target consumers believe it is worth
Value-based Pricing11..Value-based Pricing1.

47. pricing strategy.
This strategy involves setting a price based on what competitors
are charging for similar products
2. Competitor-based pricing: 2. Competitor-based pricing:

48. pricing strategy.
This strategy involves adding a markup to the cost of producing
the product.
3. Cost-plus pricing: 3. Cost-plus pricing:

49. pricing strategy.
This strategy involves adjusting prices in real-time based on
market demand.
4. Dynamic pricing:4. Dynamic pricing:

50. Your pricing strategy should align with your
overall business goals, including your
desired profit
profit goals.

51. branding
decisions.
07

52. Product branding involves developing a
distinctive identity for a product to reach its
target consumers. It's about making a
product stand out in a crowded market by
giving it a unique personality and value
proposition
What is Product
Branding?

53. Product vs.
Corporate
Branding
Product branding focuses
on individual products, while
corporate branding
encompasses the entire
company. For instance, Mars
has a corporate brand that
emphasizes innovation, but
its products like M&Ms and
Skittles each have their own
unique identities.

54. Importance of
Branding
A strong brand can
command a price premium
and foster customer loyalty.
Branding is not just about
logos and slogans; it's about
the entire customer
experience and the trust
that can be built over time.

55. Key Branding
Decisions
The main branding
decisions include
determining if a product
needs a brand, selecting a
brand name, deciding on the
brand structure, and
considering a multi- brand
strategy.

56. Building a
Branding
Strategy
A solid branding strategy
should be well-thought-out
and consistent across all
touchpoints. It should reflect
the product's unique selling
points and resonate with the
target audience.

57. Brand Equity
and Image
Brand equity refers to the
value of a brand based on
loyalty, awareness, and
perceived quality. Brand
image is the set of beliefs
customers hold about a
brand, and it's crucial to
develop a positive imag

58. Brand Extension
This involves using a
successful brand name to
launch new products. It's a
strategy that can leverage
existing brand loyalty to
enter new markets

59. positioning
decisions.
08

60. Your pricing strategy should align with your overall business
goals, including your desired profit
positioning decisions.

61. Product positioning is the act of defining
where your product fits in the market and
how it is distinct from its competitors, as
perceived by your customers.
definition of
product
positioning.

62. While differentiation refers to the tangible
differences of a product, positioning is
about the perceptual place the product
occupies in the minds of the custom.
positioning vs.
differentiation

63. Effective positioning can transform the
market's perception of a product,
influencing purchasing decisions based on
emotional and psychological factors.
importance of
positioning

64. A positioning strategy involves
understanding the target audience,
analyzing competitors, and identifying the
unique selling proposition of
developing a
positioning
strategy

65. The outcome of product positioning is an
internal document that guides external
messaging and marketing efforts,
highlighting the real value provided beyond
features and functionality
positioning
and
marketing

66. It's important to keep the product
positioning up to date with market
changes, customer preferences, and
competitive dynamic
maintaining
positioning

67. brand equity.
09

68. definition of
brand equity.
Brand equity refers to
the value premium that
a company generates
from a product with a
recognizable name
when compared to

69. components of
brand equity.
The main components
of brand equity include
brand loyalty,
awareness, perceived
quality, and brand
associations.

70. importance of
brand equity.
High brand equity means
customers have a high
level of trust and loyalty
towards the brand, which
can lead to repeat
purchases, resistance to
competitors' marketing
efforts, and the ability to
charge premium prices.

71. building
brand equity.
Building brand equity
involves creating strong,
favorable, and unique
brand associations in
customers' minds. This can
be achieved through
marketing campaigns,
customer experiences, and
consistent product quality.

72. measuring
brand equity.
Brand equity can be
measured through various
methods such as financial
market data, consumer-
based brand equity
surveys, and analysis of
market share and price
premiums.

73. managing
brand equity.
Managing brand equity
requires maintaining the
brand's perceived quality
and fulfilling the brand
promise. It also involves
monitoring the brand's
health through continuous
market research and
adapting to changes in
consumer preferences.

74. packaging
decisions.
10

75. Packaging decisions in product
management are a significant aspect of the
product development process, as they
impact both the product's appeal and
functionality
packaging
decisions.

76. Purpose of Packaging:Purpose of Packaging:
Packaging serves multiple purposes, such as protecting the product, facilitating
transportation and storage, and providing information to consumers. It's also a critical
component of the product's branding and marketing strategy.

77. Design and Aesthetics:Design and Aesthetics:
The design of the packaging should be visually appealing to attract customers and
should reflect the brand's identity. It includes the choice of colors, graphics, and the
overall design theme.

78. Functionality:Functionality:
Packaging must protect the product from damage, contamination, and tampering. It
should also be designed to prevent leakage and be easy to open, use, and dispose of
by the consumer

79. Material Selection:Material Selection:
The choice of materials for packaging is crucial for both practicality and sustainability.
Businesses are increasingly opting for eco-friendly materials to reduce environmental
impact.

80. Legal Requirements:Legal Requirements:
Packaging must comply with all relevant legal requirements, including safety
regulations, labeling requirements, and environmental laws.

81. Consumer Convenience:Consumer Convenience:
The packaging should be designed with the consumer in mind, ensuring ease of use,
reusability, and convenience.

82. Cost Considerations:Cost Considerations:
The cost of packaging must be balanced against its benefits. While attractive
packaging can increase sales, it should not significantly increase the overall cost of
product.

83. Sustainability:Sustainability:
With growing environmental concerns, sustainable packaging options are becoming
more important. This includes using recyclable materials and minimizing waste.

84. Innovation:Innovation:
Innovative packaging can create a competitive advantage and generate buzz, as seen
with products that have unique or smart packaging designs that enhance the user
experience.

85. Generation, Screening
and Development of
New Product Ideas
11

86. Concept Development
and Testing
12

87. thank
you.
Let's discuss!