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Product Management Class 2

The document discusses the importance of product management and strategy, noting that products are central to economies and businesses as they fulfill consumer needs and drive markets. It covers topics like the evolution of marketing from a transactional to transformative model, emerging trends that require a focus on specific customer segments and innovation, and how product strategy is key to competition, growth, and a firm's overall strategy.

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23 views

Product Management Class 2

The document discusses the importance of product management and strategy, noting that products are central to economies and businesses as they fulfill consumer needs and drive markets. It covers topics like the evolution of marketing from a transactional to transformative model, emerging trends that require a focus on specific customer segments and innovation, and how product strategy is key to competition, growth, and a firm's overall strategy.

Uploaded by

kartikkohli65
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as PPTX, PDF, TXT or read online on Scribd
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Product Management

Session 2
Rohitesh Gidwani
What is our
economy
based on ?
What do we  Humans have been consumers since life has been recorded
Consume?  Our consumption is because of :
Products  Basic Needs
 Comfort Needs
Why do we  The foundation of our economy has been consumption
consume? 

Goods Economy
Services Economy
 Knowledge and Information Economy
 Experience Economy

Basic Comfort Safety Emotional VSB More _____


Need
 A product is what can be made available for consumption
 Value addition is optimized when the product reflects the
consumer needs
 Without products there would be no markets, no businesses
Product as a  Products are at the heart of the exchange process

Strategy  Product strategy lies at the heart of a firm’s overall strategy


 In most marketing books products are regarded as one of the 4P’s
 Further we tend to dwell largely on New Product Development
Process and neglect other aspects
 Place of ‘Innovation’
 Jan 2020 – COVID 19 came into the radar of Albert Bourla
 Feb 2020 – Bourla announced that Pfizer will play a major role
 Pfizer and BioNTech
 Beginning of March 2021 – BioNTech developed 20 candidate
 11th March 2020 – COVID is declared a pandemic by WHO
 13th March 2020 processes were set in place
 16th March 2020 Allocation of funds
 12th April 2020 – 20 to 4
 23rd April 2020 CT’s begin
 12th May 2020 4 – 2
 July 2020 – Simultaneous V Sequential approach
 8th Nov 2020 – Internal hearing of Results of CT on COVID 19 vax.
 Recommendation – Seek approval for launch. 95.65 efficacy
 31st Dec 2020 – 74mn doses manufactured
 Mar 2021 – 300mn doses manufactured
 2021 – $20bn
 Spotting an Opportunity
 Major Decisions of Product Development
 Portfolio Management
 First Mover Advantage
 mRna
 Funding
 Timeline
 CT Strategy
 Manufacturing
 NPL Strategies
 PLC Management
 Israel
• “A product is anything that can be
offered to a market for attention,
acquisition, use or consumption. It
What is a includes physical objects, services,
Product? personalities, place, organizations and
ideas.”
• Product is a business model with a
strategy
 ‘Customer oriented’ and ‘Market driven’
Emerging  The Emergence of Global competition
Trends  Spoilt-for-choice customer (VSB)

redefining the  Ineffectiveness of Mass Communication

marketing  Personalization
 Value additions
function
 Past Future
 Demographics ———————————— Psychographics
 Individualism ———————————— Community
 Status objects ———————————— Status activities
 Consumer ————————————
The Past and  Message ————————————
Co-author
Dialogue
Future of  Corporation ———————————— Cooperation
Marketing  Transaction ———————————— Transformation
 Brand image ———————————— Brand culture
 Segmentation ———————————— Integration
 Destination ———————————— Journey
1. Need to focus on various customer segments
2. Easier targeting
3. Enabling innovation
Need for PM 4. Communication through multi channels
5. Managing PLC
Managing
Competition –
Product
strategy is
central
 Competing through product proliferation
Product as a  Competing through value

Strategy –  Competing through design


 Competing through innovation
How to  Competing through service.
Compete
Product as a
Growth
strategy
 Place of PM in the MM Framework
 Importance of Product Strategy in Business
 Emerging trends redefining the marketing function
What we have  How marketing is changing – The Past and Future of Marketing
covered till  Need for PM
now?  Product as a strategy to Compete
 Product as a strategy for Growth

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