Product and Brand Management

•Introduction to Product Management (PM)

•Role of PM in Contemporary Marketing Environment
•Functions, Limitations, Conflicts and Challenges of PM
Product and Brand Management
 Number of sessions: 14
 WEIGHTAGE: 100 M
 INTERNAL ASSESSMET: 40 M
(Attendance, Class Conduct, Continual Assessment, Tests and
Presentations, Active Participation)
 EXTERNAL ASSESSMENT: 60 M
Pattern of session conduct

Conceptual Background : 30 min

Current Updates – Discussions : 15 min

Course Content : 60 min

Concepts in Practice / Applications: 30 min

Class Activity / Case Analysis : 30 min

(As a part of Continual Assessment)

 Reference Reading
 Product Management – Donald R. Lehman &
Russel S. Winer
 Product Management – S. A. Chunawalla
 Product Management in India – Ramanuj
Majumdar
 Strategic Brands - Brand Management – David
Aaker
 Building Strong Brands - Keller
 Brand Equity – with ‘Economic Times’ every
Wednesday
 Business standard – “The strategist”
CONCEPTUAL BACKGROUND

 Introduction to Product Management

 Product Management Model
 Product Concept – Definitions
 Product Levels
 Product Hierarchy
Product Management : An Introduction
 Product management is an
organizational lifecycle
function within a company
dealing with the planning,
forecasting, and production,
plus marketing of a
product or products at all
stages of the product
lifecycle.
Product Concept
DEFINITIONS
 (a) Product is the bundle of utilities by which it can satisfy the
needs of the users.
 (b) Product is anything that can be offered to a market to satisfy a
want or need.
 (c) Product is a set of tangible and intangible attributes, including
packing, colour, price, manufacturer’s prestige, retailer’s prestige,
manufacturer and retailer’s services, which the buyer may accept
as offering satisfaction of wants, or needs.
 (d) Product is anything, which can be marketed in terms of
physical goods, services, experiences, events, persons
places, parties, organizations, information, and ideas.
Class activity# 1
 List as many PRODUCTS as you can recall, for various
product types below: (10 minutes)
 physical goods,
 services,
 experiences,
 events,
 persons places,
 parties,
 organizations,
 information,
 ideas
Five Product Levels
PRODUCT HIERARCHY
 Each product is related to certain other products. The product hierarchy stretches from
basic needs to particular items that satisfy those needs. We can identify six levels
 (i) Need family: The core need that underlies the existence of a product family.
Example: security.
 (ii) Product family: All the product classes that can satisfy a core need with
reasonable effectiveness. Example: savings and income.
 (iii) Product class: A group of products within the product family recognized as
having a certain functional coherence. Example: financial instruments.
 (iv) Product line: A group of products within a product class that are closely
related because they perform a similar function, are sold to the same customer
groups, are marketed through the same channels, or fall within given price ranges.
Example: life insurance.
 (V)Product type: A group of items within a product line that share one of several
possible forms of the product. Example: term life.
 (vi) Item (also called stock keeping unit or product variant): A distinct unit
within a brand or product line distinguishable by size, price, appearance, or some
other attribute. Example: Prudential renewable term life insurance.
CURRENT UPDATES
 http://brandequity.economictimes.indiatimes.com/
 In numbers: Coca-Cola scores big this IPL season
The company took a different approach by involving its
various brands during the league
 https://brandequity.economictimes.indiatimes.com/news/marke
ting/colgate-reaches-out-to-mumbais-taxi-drivers-through-its-
oral-health-month-program-for-its-new-marketing-gig/64825191
 https://brandequity.economictimes.indiatimes.com/news/marke
ting/growth-marketing-agency-dcmn-revamps-its-brand-
identity/64824657
 https://www.business-
standard.com/article/companies/regaining-lost-glory-how-
brand-vivo-is-staging-a-comeback-118053101574_1.html
 The Fairest One: Emami- Hindustan Unilever Spat Revives An Old
Brand War
 Role of Product Manager
 The product manager is often considered the CEO of
the product and is responsible for the strategy, roadmap, and
feature definition for that product or product line.
 The position may also include marketing, forecasting, and profit
and loss (P&L) responsibilities.
 Notable individuals who have held the role of product manager in
a software development company include Sundar Pichai (CEO
of Google) Marissa Mayer (CEO ofYahoo!), Reid
Hoffman (founder of LinkedIn), and Kevin Systrom (founder
of Instagram).
 https://www.youtube.com/watch?v=TPNy1EOo12E
(Dr. Jim Anderson reveals how product managers at Coke are
keeping track of their over 450 different brands of products. )
 https://www.youtube.com/watch?v=bOE4MGN1LZE
Apple product management
Role of a product manager
• The product manager is responsible for setting a product vision and
Strategy strategy.
• Clearly articulates the business value to the product team

Releases • PMs must plan for what their teams will deliver and when they will
deliver it.

Ideation • Product managers own ideation -- the creative process of

generating, developing, and curating new ideas. They collect,
curate, and promote the most relevant ideas into features.

Features • The product manager defines the features and requirements

necessary to deliver a complete product to market

Go to market • work directly with customers -- namely marketing, sales and

support.
Functions of Product Management
 Product Life Cycle considerations/decisions across
various stages
 Product differentiation
 Product naming, branding and Packaging
 Product positioning and outbound messaging
 Product Line and Product mix development
 Promoting the product externally with press, customers
and partners
 Conducting customer feedback and enabling
modifications in existing product lines
 Launching new products to market
 Monitoring the competition
Inbound and Outbound Product Management
 Inbound (product development) functions
 Inbound product management (inbound marketing) is the
"radar" of the organization and involves absorbing information
like customer research, competitive intelligence, industry
analysis, trends, economic signals and competitive activity as
well as documenting requirements and setting product strategy.
 Outbound (product marketing) functions
 In comparison, outbound activities are focused on distributing
or pushing messages, training sales people, go to market
strategies and communicating messages through channels like
advertising, PR and events.
 Challenges of a Product Manager
 Focusing less on incremental enhancements and more on new
innovation
 Improving the overall product lifecycle management
framework/process
 Portfolio management, including investment allocation
 Getting consistency across the entire product management
organization (e.g. activities, deliverables)
 Defining roles and responsibilities for product managers and
related functions
 Product Management Challenges
 Cross-organizational collaboration
 Innovation
 Meeting customer expectations
 Managing diverse product-lines and categories at various
stages across PLC
 Exploring new global markets
 Harnessing power of Market Research
 CLASS ACTIVITY - 2

 Select any product category of your choice, and

illustrate Product-mix and product-lines offered by
any two competing brands in the market. ( Time
alloted 10 minutes)

 Identify 5 challenges to manage above mentioned

product portfolio.