Chapter I

Introduction to Product Management

Product Management
 is the process of planning, developing, launching, and managing a product or
service. It includes the entire lifecycle of a product, from ideation to development
to go to market.

The Concept of Product Management originates from a 1931 memo by Procter and
Gamble Neil H. McElroy. McElroy, requesting additional employees focused on
brand management who would take on the role of managing products, packaging,
positioning, distribution, and sales performance.

Product Managers
 are responsible for ensuring that a product meets the needs of its target market
and contributes to the business strategy, while managing a product or products at
all stages of the product lifecycle.
 Resposible for managing a company’s product line on a day-to-day basis. As a
result , product managers are critical in both driving a company’s growth,
margins, and revenue.

Product
 anything that can be offered to a market for attention, acquisition, use or
consumption that might satisfy a want or a need.

Production
 is the process by which goods and services are created, this consists of bringing
together restricted sets of resources like materials, labor, equipment, and
structures and operating them in strict observance of the processes to obtain the
desired product.

Production Operation means materials flowing through one or more steps of a

process.

Basic Elements of Production Operation:

1. Production Design
2. Process Design
3. Material Flow

Strategic Product Activites:

Inbound Activities
 Working with the business to help deliver the product

Outbound Activities
 Activities are assisting the business to sell the product
Product Management to other parts of the Business

To the Development team

 Provides direction, gives insight into what the market wants, and validates that
what they’re creating is needed.

To the Sales Team

 Deliver shiny products that let them have new discussions with their customers.
 They provide information and support to help sales to sell

To the Senior Management

 Give a view of what’s going on in their business from a productive perspective