Successful Product Management

American Management Association

How long?

  • 3 days
  • online, in person

American Management Association

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Who should attend

Product managers and brand marketers and directors, and those who interact with them.

Note: Attendees should have two years of marketing experience.

About the course

Gain the business skills you need to be a successful product manager!

Discover the tools and techniques you need to effectively manage the increasingly complex product management process and gain more control of the myriad tasks at hand.

In this powerful seminar, you’ll focus on strategy…product portfolio planning…key tasks of a product manager…understanding critical reports…and how to calculate break-even sales formulas. Then you'll put it all together using a case study on product marketing plan development so you’re ready to prepare your marketing plan.

How You Will Benefit

  • Understand the whys and hows of the product management process—and how to make the best use of it
  • Gain marketing savvy and use it to perform your job effectively
  • Set priorities and manage the profitability of your products or service
  • Build effective working relationships with suppliers and with external and internal business partners
  • Manage the financial aspects of product management
  • Learn the key components of an effective business plan—and practice developing one

What You Will Cover

  • Benefits of the product management process
  • Strategies and models for marketing success
  • The main tasks of a product manager
  • Key reports and relationships
  • Managing new product or service development
  • Preparing your marketing plan

Outline

The Current Product Management Structure

  • Understand How the PM Strategy Developed Out of the Company’s “Core Marketing” Strategy
  • Create a Definition of the term “Marketing”
  • Describe the Key Product Management Attributes
  • Develop a Definition of the Term “Product Manager”
  • Understand the PM’s Role Today and Tomorrow
  • Understand the PM’s and Marketing Manager’s Interaction Within the Company

Strategy

  • Apply the Best-Practice SWOT Analysis Model
  • Understand Branding from a Product Manager’s Perspective
  • Establish the Differences Between a Product and a Service
  • Describe the Strategic Planning Pyramid
  • Determine How to Apply Different Marketing Strategies
  • Understand and Apply the SMART Acronym to Goals and Objectives
  • Clarity What Is the Sustainable Competitive Advantage Concept
  • Determine the Key Strategic Positions in the Market Model

Product Portfolio Planning

  • Pinpoint the Differences for Various Products in Your Portfolio
  • Identify the Differences for Various Markets in Your Portfolio
  • Apply a Business Screen Analysis to Make Overall Strategic Decisions on How to Support Your Product or Service

The Annual Marketing Plan Model

  • Identify a Format for the “Best Practice” Annual Marketing Plan
  • Describe the Core Strategic Elements That Belong in an Annual Marketing Plan
  • Discuss Applications in the Business Cycle

The Main Tasks of a Product Manager

  • Confirm the Role of the PM in the Organization
  • Identify the Key Tasks a PM Must Cover to Manage His or Her Product or Service
  • Understand How to Conduct a Market Analysis
  • Identify and Carry Out Product and Service Support Tasks
  • Define and Develop a Feature/Benefit Analysis
  • Analyze and Use the Best-Practice Lifecycle Model
  • Describe How to Create a Best-Practice Positioning Statement
  • Apply a Best-Practice Segmentation Model
  • Design a Budget Control System
  • Develop a Packaging Strategy
  • Generate a Focused Sales Forecast
  • Demonstrate a Best-Practice Probability Model
  • Establish Pricing for a Product or Service
  • Identify the Core Pricing Strategies
  • Design an Effective Communication Program
  • Outline a Trade and Customer Relations Program
  • Describe the Approach to Conducting a Market Research
  • Manage the E-Commerce Program
  • Set Up the New Products Program

Strategic Key Reports

  • Identify the Basic Reports
  • Outline a Project List
  • Discuss a Forecast Report
  • Describe a Field Trip Report
  • Outline a Marketing Tech Team Report
  • Understand the Need for a Monthly Report
  • Demonstrate How to Manage Fact-Based Information Systematically

Finance for Product Managers

  • Understand the Critical Basic Accounting Principles
  • Discover the Elements in a Profit and Loss Statement
  • Identify the Differences Between Fixed and Variable Costs
  • Calculate Break-Even Sales Formulas
  • Discuss How the Key Models Impact the Product Manager’s Financial Area

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Successful Product Management at American Management Association

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