Product Positioning
It is important for your product to be positioned clearly in the minds of your customers and prospects, since fuzzy or poorly articulated positioning may cause them not to take the next step in the purchase process. In this section, you will discover:
• How and when to position your product
• The importance of market segmentation in determining your product positioning
• The warning signs that positioning needs revising
The Product Lifecycle
Product management is responsible for the first half of the product lifecycle – inception through launch. This section reviews the stages of the product lifecycle with a focus on the critical first stages. You will:
• Review the stages of the product lifecycle and the key activities within each
• Examine a methodology for managing the development process that is in widespread use today
• Discuss a proven approach to screening ideas and the common mistakes that are made at this important step in the process
Action Learning Exercise: The new product development process
The Special Challenges In Developing “Services”
Services are typically treated as products, which works well in most situations. However, services have several attributes that set them apart from tangible products, and these present special challenges – and opportunities – for the product manager.
• The key differences between tangible products and services
• Implications for the development process – what needs to be done differently?
Action Learning Exercise: Service development
The Value Chain
There are many companies ultimately involved in delivering the solution to the customer, each with a specific role to play. This section examines the value chain from the perspective of:
• The direct value chain for your product
• The extended chain of companies delivering the complete solution to your customers
• How to develop and nurture your extended value chain to leverage your company’s internal resources
Action Learning Exercise: The extended value chain
Pricing
There are many considerations when setting product pricing. In this section, you will:
• Review pricing best practices
• Examine three distinct pricing strategies
• Discuss the various factors that must be taken into account, with a focus on the internal considerations that impact the product management function
• Setting the pricing for new products
| Day Three – Monday, 7 December 2009 |
Preparing For The Launch
In addition to marking the transition from development to commercialisation, the launch is also the typical handoff of the product to product marketing from product management. Both functions need to be intimately involved for the transition to run smoothly. This section reviews:
• Overall activities associated with the product launch
• Internal launch preparedness
• Ensuring a smooth transition to production
Product Management Tools
A review of several popular tools and techniques that have proven helpful to product managers.
Review
An opportunity to review and ask questions on any part of the material before the exam.
Exam To Become Certified
The exam is embedded in the programme for the last day and is usually completed in three hours, but we will allow four hours to ensure you have adequate time to finish. It will require several weeks to grade, after which you will be informed whether you have passed or failed. If you don’t pass you will have an opportunity to review your scores with one of the senior members of the grading team, and you will be given the opportunity to retake the exam the next time it is administered at no additional course charge. |