Course Overview
In present times markets are nearly always flooded with a plethora of products to satisfy a single need of the customer. Competition is intense as the market is saturated with options for customers. In such a case how does a product stand out? What should a company do to attract customers to its products? Here is where management comes into focus. Product management begins with identifying customers’ needs and then planning product features set accordingly. It continues with devising strategies and marketing tactics through all the stages of a product life cycle. There are numerous aspects and phases a product has to move through to ultimately land in the market. Simultaneously the company has to put in efforts regarding providing an enriched customer experience, developing promotion strategies, and ensuring smooth distribution to clinch maximum sales.
What are the responsibilities of product manager?
Product is the primary offering of the company; thus, it becomes imperative that the company carefully develops and manages the product. Without well-functioning product management, a company would fail to recognise what they would need to deliver to develop a successful product. Efficient product management emphasizes careful planning and reduces the future risk of product failure in the market.
How can product management be used to improve the company’s performance in the industry? What are different ways to generate ideas for developing a new product? How does strategy differ with change in stages of the product cycle? How do generate brand awareness and brand loyalty? These challenges amongst many others are required to be tackled by product developers and managers. Product management is a result-oriented purposeful and practical approach that a company needs to implement to make sound strategic decisions.
Which certificate is best for ‘product manager’?
Zoe has introduced a comprehensive and industry-relevant product management certification training course. The training course consists of updated modules that aim to grapple with various issues a company may come across while dealing with their product. This prepares the participants for the challenges ahead. The course highlights the latest trends and techniques that will aid the company in gaining a not only competitive advantage over its peers but also acquiring prospective customers. The extensive training course covers all areas related to designing, development, launching, product maintenance and extension.
Course Objectives
The course aims to fulfil the following objectives:
- To prepare the participants regarding managing products in such a manner that market needs are successfully aligned with the organisation’s objectives and vision
- To inculcate customer value in the developed product through sustainable product management
- To develop an innovative mindset of participants to promote exploration of new ideas for product development
- To help the organisation in striving a balance between manufacturing, marketing and sale of a product
- To develop skills useful in designing, building and maintaining a product
- To educate participants with diverse strategies useful in different stages of a product life cycle along with their practical application
- To inculcate knowledge regarding analysing market potential, sales forecasting, creating brand equity and developing customer loyalty
Training Methodology
- Interactive sessions and lectures
- Presentations
- Management games
- Role playing/modelling
- Case studies
- Group discussions
- Problem-solving sessions
Organisational Benefits
A product management certification training course will benefit an organisation in the following ways:
- Efficient filtering out of infeasible ideas from the market regarding product development and scan environment for most suitable product ideas
- Reduce the risk of product failure through careful product planning and implementation
- The organisation will be able to optimise customer experience which will acquire new customers as well as retain current customers for a long-term
- The organisation will be able to differentiate its product from that of its competitors through better USP
- Offering unique products that satisfy customer’s needs and provide maximum customer satisfaction will win customer loyalty which in turn will generate better revenues
Personal Benefits
The product management certification training course will benefit the participant in the following ways:
- Develop a sound understanding of the market and its needs
- Able to collaborate between product management, sales team and marketing team to achieve organisational targets
- Define clear expectations for a product for developers and engineers
- Learn to manage product line in the most efficient manner
- Develop a creative approach that will help in identifying market opportunities
- Inculcate innovative modus operandi to find cutting-edge solutions for the market
- Gain leadership skills required to guide the teams while executing the product’s roadmap
- Acquire relevant communication and technological skills
Who Should Attend?
- Marketing managers/Marketing heads
- Product managers
- Product developers
- Sales managers
- Brand managers
- Start-up founders/entrepreneurs
Course Outline
Module 1: Basics of a Product
- Product classifications
- Product decisions: attributes, packaging, labelling
- Product line decisions: product line width and length
Module 2: Product Management
- Product management scope
- Product planning
- Product marketing
- Steps in product management
- Product customization
- Role of product manager
Module 3: Product Development
- Marketing research
- Idea generation
- Idea screening
- Test marketing
- Product upgrade
Module 4: Product Lifecycle Strategies
- Introduction stage
- Growth stage
- Maturity stage
- Decline stage
Module 5: Marketing Planning of a Product
- Defining competitive set
- Category attractiveness analysis
- Environmental analysis
- Positioning of the product
Module 6: Competition Analysis
- Identifying competitor’s objectives and strategies (Porter’s framework)
- Sources of competitor information
- Differential advantage analysis
Module 7: Brand Equity
- Value to customers
- Brand awareness and brand loyalty
- Brand image
- Customer-based brand equity
Module 8: Promotion and Pricing Planning of a Product
- Promotion objectives
- Media and advertising planning
- Pricing objectives
- Pricing strategies
Module 9: Product Distribution
- Designing of channel
- Role of distribution channels in product management
Module 10: Product Innovation
- Innovation objectives
- Feature-based and process-based innovation
Module 11: Challenges and Recent Trends in Product Innovation
- Engineering dependencies
- Accelerated innovation cycles
- Time constraints
- Recent trends: digital products, building customer relationships, product proliferation
