Summary of the book The Product Manager's Handbook, written by L. Gorchels. The summary of the 3rd edition of the book, ISBN 9780071459389. extract from The Product Manager's Handbook is written by publisher Student Only and checked completely content.
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The Product Manager’s
Handbook
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Titel : The Product Manager’s Handbook
Druk : 3
Auteur : L. Gorchels
Uitgever : McGraw-Hill Companies
ISBN (boek) : 9780071459389
Aantal hoofdstukken (boek) : 14
Aantal pagina’s (boek) : 408
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Hoofdstuk 1 A Strategic Planning Framework for Product Managers 3
Hoofdstuk 2 Trend-Spotting, Research, and Customer Segmentation 5
Hoofdstuk 3 Competitive Intelligence for Competitive Strategies 7
Hoofdstuk 4 Branding Strategies 9
Hoofdstuk 5 Financial and Pricing Performance 11
Hoofdstuk 6 Strategic Growth through New Products 14
Hoofdstuk 7 The New Product Project 16
Hoofdstuk 8 Crafting a Launch Strategy 17
Hoofdstuk 9 Managing Existing and Mature Products 19
Hoofdstuk 10 Creating and Managing Customer Demand Using Marketing Plans 21
Hoofdstuk 11 Gaining Status as a Cross-Functional Leader 26
Hoofdstuk 12 Preparing for Globalization 28
Hoofdstuk 13 What Product Management Is and Is Not 30
Hoofdstuk 14 Introducing Product Management and Managing Product Managers 32
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Bron : The Product Manager’s Handbook - L. Gorchels
, Hoofdstuk 1 A Strategic Planning Framework for Product
Managers
1.1 Heavyweight Product Managers
A Heavyweight Product Manager or a ‘large product leader’ or a ‘program manager’ is a
person who designs business strategy for a product and responsible for subsequently rolling
it out with a primary objective of superior customer satisfaction.
The practice of including a product manger in the organizational structure of a company
started in mid 1980s by the automobile industry when it went through a phase of an increased
international competition, high demanding and refined customers and complex products. This
trend led the automotive companies to bring in customers into the mix. The same is followed
by the other industries like fast moving consumer goods (FMCG) companies where the
product manager is called as ‘Brand Manager’ with similar responsibilities.
The previous structures like coordinator committees, cross functional teams, and etc. too
enabled companies create advanced products, but these models failed to take future
customer-desires and their satisfaction into consideration.
The entry of the product manager prompted the companies devise the external integration
structure that underlined the need for cross-functional integration both at the strategic as well
as the operational level. But the effectiveness of the product manager is the missing link
between the future customer-desire as well as the design and development team in the
company.
The product manger’s role is to understand functions and features of the future product and
the customers’ perceptions about the product.
Characteristics of Heavyweight Product Managers
A product manager should:
• make all the related teams work on the basis of future expectations of the customer,
• be well versed with many aspects related to product such as designing, manufacturing,
markets and customers,
• be a cross-functional leader but not be a functional-worker or a facilitator between the
departments, and
• be in continuous communication with the teams from design stage to development
stage till he/she gets desired output.
1.2 A Planning Framework
1.2.1 Product Planning
The product planning should be inline with the overall long-term corporate vision of the
company. Product planning should include strategies on innovation, new product
development, rationalization, implementation, launch, future cash-flow and vision on
competitive trend, market, portfolio goals, brand, product vision, etc.
1.2.2 Product Planning Forces
Product planning is influenced by both external as well as internal forces. For creating
product portfolio goals it is required to analyze external forces viz. market, competition and
performance. These goals should be in consistency with the corporate goals and internal
assessment.
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Bron : The Product Manager’s Handbook - L. Gorchels
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