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Advanced Product & Portfolio Management Techniques – Best Practice for Better Results

Whether Product Managers are developing their own product as entrepreneurs in their own company or working within a larger organisation, they have to manage and collaborate cross-functionally and knowledgeably with key stakeholders inside and outside the company to ensure continuity of product sales success, as well as strategic value to the company. Product management oversees the overall business, product development, production and the supporting technology of the life-cycle of a specific product portfolio – which might be based on a single product type or one or more product families. It includes the need to determine whether a product or product portfolio is viable from a business perspective: being highly preferentially desired by the customers and technically feasible.

Turning 'Theory' into 'Practice'?

This intensive 2-day training will lead delegates through the needed complex of procedures including the conception of a product idea, determining the market demands, developing and launching products, maintaining and developing the company and product brand, managing and prioritising product portfolio, the marketing and sales strategy, as well as being able to best exploit existing and new technologies within the product, its production, and 2-way communications with the customers. The product manager also has to guard against various challenges such as product performance shortfalls, delayed product launches, manufacturing cost overruns, field failures, and disappointing sales and ROI. The workshop also presents how best to meet these challenges so as to avoid such negative effects on the business

Who should attend?


Key areas to be covered in the programme and documentation

Continuous Management of Lifecycle, Portfolio, New Product Development and Marketing
• Ensuring profitability by determining the nature of your market: Who are your
core consumers? Who makes the buying decisions? What is the optimum
Product Portfolio?
• Establishing financial and other Key Performance Indicators (KPIs) that are relevant
to your product lifecycles
• Making the case for product development investments with credibility and accuracy
• Developing and positioning yourself to become a successful product manager
Discussion: Pros and Cons of longer or shorter product lifecycles. 

Preparation and Strategies to Meet Projected Expectations
• Driving the relevancy of research and development (R&D): according to the needs
and demands of your customers – including latent needs
• Scenario-forecasting to help upgrade product portfolio development and product
launch success
• Executing a successful strategy to assure product success:
– Overall strategic business planning
– The market-product matrix
– Monitoring, control and remedial action
Benchmarking Study Server system product: piece-part counting and testing
of mean-time between failures (MTBF)
Case Study: ITT Company - Re-designing a country specific product for a worldwide market

Product and Portfolio Management towards Product Market Leadership
• Gaining critical mass
• Managing the quality, flow and effectiveness of information to the public
• Portfolio development. Modifying existing products for higher or lower positioning
e.g. by up-rating critical features for high performance, or de-featuring for just basic needs
• Avoiding “profitless price competition” and the “commodities product trap”
• Gathering key stakeholder inputs to identify best commercial prospects, and help
identify the optimum Product Portfolio
• Building a minimum viable product (MVP) for early product testing: Feature
and function requirements and User testing
Case Study: Dell Laptops -New business model for gaining market leadership

Product Risk Management: Reducing the Likelihood and Impact of
Disruptions Throughout the Whole New Product Development (NPD) and Launch Process
• Understanding why human behaviour is a major risk factor
• Preventing product failures: Early detection of errors and defects
• Avoiding the risk of early product sales “death-rates”: Identifying key measures for
successful auditing and reporting of product sales growth, and customer feedback
• Implementing back-up contingency plans for unforeseen liability issues: Limiting
the damage to the company, its reputation, and brand
• Optimising the Product Portfolio Mix
Case Study: Motorola fall and Nokia rise: Knowing how to avoid getting it
wrong and to prevent losing market share to a new entrant.

Management of Technology (MOT) : Integration with Product Management
• The objectives of MOT as related to Product Management
• Driving innovation via exploiting existing and new technologies
• Deciding on which of the looming technologies you need for the future
Case Study: The Dyson Portfolios. Analysing how new entrant start-ups can succeed in attaining market leadership even in mature markets, - but how to keep the sales and profits up as others attack with copies?

Pricing to Win ROI and Market Share. Cultivating a Proactive Corporate Culture to Compete on Value
• Strength of the value propositions
• Evaluating factors for optimal pricing implementation: Return-on-investment (ROI)
versus market share
• Assessing the right pricing fit for your product
Case Study: IKEA

Image Building: Constructing a Cohesive Branding Mindset
• Benchmarking product success based on user feedback
• Upgrading your organisation’s personality and vision and presenting these to the public
• Help achieving branding by self-evident excellent and attractive product portfolio
• Reviewing and growing your brand equity:
Video Case Study: “The Deep Dive” A study of how the culture and personality of the company IDEO, California, resulting in strong company brand

Implementing Strong Marketing and Sales Techniques to Generate Greater Demand for your Products
• Winning the trust of your customers - with realism and not overpromising
• Breaking down barriers for new, immature and uninformed markets by creating
the right product awareness
• Getting ahead of your competitors by building a more effective marketing and sales capability
Case Study: Samsung and Apple (Competition and Collaboration)
Video Case Study: “Catching the Wave” - Disruptive Innovations: Finding the right balance between different methods

Embracing Information Technology for Product Promotion
• Best, most attractive, presentation of the value propositions
• Anticipating and exploiting Information Technology capabilities and
developments and adjusting to the preferences and needs of the younger as
well as older generations
• Gaining effective attention: Selecting the right platform for best usage of
product advertisements
• Leveraging on various types of product information distribution strategies
• Customer care: service, complaints, suggestions.
Take Aways from Workshop: Delegates’ notes, verbal summaries, and action plans

Benefits to you

• Maximising competitive edge of your product and portfolio management
• Penetrating into existing and new markets by carrying out the right type of product development
• Strengthening your market research and consumer segmentation approaches to gauge the needs of your customers and so avoiding product launch failures
• Reducing risks by efficient risk identification and profiling
• Driving product demand using the right marketing Promotional Mix
• Ensuring your company engages in meaningful communications with customers to support the growth of its brand equity
• Using the right pricing models to achieve the best return-on-investment (ROI)and market share
• Deploying the most effective methodologies for product innovations as well as managing disruptions and discontinuities in business and technology

Companies already benefiting include:

Duration of Course

2 Day Course

Course details

9-10 April 2018, London, UK, PT3714

Looking to train larger teams in this subject?

dzingim@marcusevansuk.comTailored in-house/in-company training courses and bespoke strategy workshops designed and delivered on-site throughout Europe according to your specific requirements.

All management, personal development and project management public courses featured in our Course Directory are also delivered on an In-Company basis.

Click Here for information on how this course can be delivered for you as an In-Company Training Solution

 


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dzingim@marcusevansuk.com - Marketing Manager EMEA - Professional Training


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Testimonials

"This course will allow my company to develop its existing strategies to a much greater and hopefully profitable level."

Managing Director, Tarmac