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Course 1003: Product Management Training

Course #: 1003
Course Type: On-site & Public
Duration: 2 days
Price: $1699
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Available Training Formats
On-site Public
Computer Based Training Online

Description

Product management is a function within an organization dealing with the day-to-day management and development of a product or family of products at all stages of the product lifecycle. The product management team develop and maintain the products in accordance with the organization's Product Life Cycle process. The coursecovers three major tasks facing today's product mangers: analyzing the market, developing objectives and strategies for the product or service in question, and making decisions about price, advertising, promotion, channels of distribution and service. Product Management utilizes the familiar Marketing Plan as the unifying framework and takes a hands-on approach toward preparing graduates to assume the position of product manager.

Product management typically deals with all of the end-to-end aspects of a product or product line, including product profitability. Product Management is 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 a domain that holds two 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.

The product management function is responsible for defining the products in the marketing mix. The Product Manager is usually responsible for setting product direction and strategy, and for specifying and managing specific customers and markets.

Objectives

  • Identifying and specifying market requirements and the role of product management
  • Analysis of product life cycle considerations and differentiation
  • Developing product roadmaps
  • Developing differentiated product positioning
  • Presenting the business case for the product
  • Specifying and managing the creation of customer specific products
  • Developing product sales tools and collateral
  • Ensuring that we deliver fully augmented complete products
  • Defining new products and gathering product requirements (New Product Development)
  • Defining product business criteria including managing costs
  • Securing internal resources for product team
  • Translating feature requirements into engineering specifications
  • Working across all functions to bring a product to launch
  • Leading teams to ensure execution towards product objectives
  • Key elements of a requirements process
  • Defining supportability requirements
  • Promoting the product internally across all functions
  • Promoting the product externally with press, customers, and partners
  • Bringing new products to market
  • The product launch process
  • Product differentiation
  • Product positioning and outbound messaging
  • Product Life Cycle considerations
  • Product portfolio management
  • Product management 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.

Course Outline

Introduction to Product Management

  • Market Leadership
  • Marketing Planning
  • Defining the Competitive Set
  • Defining A framework for Product Excellence
  • Product Stage of Maturity
  • Product Rationalization
  • Category Attractiveness Analysis

Competitor Analysis

  • Competitor Array
  • Competitor Profiling
  • Media Scanning
  • New competitors
  • Customer Analysis

Market Potential and Sales Forecasting

  • Developing Product Strategy
  • New Products
  • Pricing Decisions
  • Advertising Decisions
  • Promotions

Defining a product management system

  • Strategies and models for marketing success
  • Key reports and relationships
  • Strategic Role of Product Management

Channel Management

  • Service and Direct Customer-Based Marketing
  • Financial Analysis
  • Marketing Metrics
  • Governance and Organizational Structures

Developing Product Strategy

  • Customer and Market Research
  • Technology and Intellectual Property (IP)
  • Startegy and Planning
  • Decision Making Process
  • People, Teams and Cuslture
  • Co-Development and Aliances
  • Product Discovery


Workshops

  • Defining “lifecycle map†of your product portfolio
  • Beat the Competition
  • How to Use Competitive Intelligence to Develop Winning Business Strategies
  • Competitive Strategy: Techniques for Analyzing Industries and Competitors

Who Should Attend

  • Product and brand marketing managers and directors
  • Product marketing managers
  • Program managers
  • Project managers
  • Product management team members

Prerequisites

Basic marketing and sales knowledge and experience

 

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