ISA's Product Management Workshop

Barb Finer of QuiVivity Marketing Partners, presented a shortened version of her three-day, well over a thousand dollar, class on product management. Agenda: --Playing ball as a team --voice of the customer --on time launch What is a product? An offering that one entity delivers to another that is of value"¦It can be defined and has repeatable characteristics. A product may be tangible or intangible. A lot of people who enter product marketing in technology companies come out of engineering with no product marketing training whatsoever. Components of a ProductThe 4Ps"¦Product, Price, Promotion and Place Product (P1) features, benefits, packaging, documentation, warranties Price (P2) SELL-IN,sell thru, markup margin, discounts, refunds, rebates, channels Promotion (P3) HOW DOES THE TARGET LEARN OF THE PRODUCT? Place (P4) distribution"”where can the target buy/order the product? ---and some more modern thinking--- The 4 Cs-- Thinking about the same things, but from the customers' perspective"¦ Customer Value Cost Communication Convenience Components of Total Cost of Ownership include: Product Failure, Product Hard to Use"”even a brilliant product that is hard to use, or breaks often, can wind up costing you the business.