PPM

Question 1

Define product management its function and product manager job

Answer 1

_PM is the management of a piece of business
_ PM Is accountable for it without having direct authority
_PM job is to oversee all aspects of the product in order to create great value proposition and deliver superior customer satisfaction

Question 2

provide detailed description of product management framework in terms of the processes and responsabilities as well as foundation skills

Answer 2

_ Foundation skills : related to the competences that management should have (skills, intelligence )

_Up stream : PM should take care of activities like innovation and new service development (create and commercialize)

_down stream: activities PM has to take during product life cycle ( renew, rebrand)

Question 3

what type of crucial cross functional interactions do PM need to maintain

explain 4

Answer 3

_SALES: depends on type of company , in B2B, PM is a sales support.

_Operations and R&D: PM has continuos interaction with operations and R&D through new product development and strategic interactions

_ Customer and product support : PM and customer support should help each other in both way

_ Finance: PM should know general functions of financial concepts

Question 4

Elaborate on the potential decision making process Pm are faced with and provide overview on Pm most important stakeholders

Answer 4

decision making process : 
_ frame the issue
_ gather data
_ generate alternative
_ evaluate alternative 
_ select alternative
_ act 
_ evaluate outcomes

most important stakeholders ;
_customer
_engineering
_manufacture
_sales

Question 5

Product manager are leaders and managers, PM may be involved in both traformational and transactional leadership. explain

Answer 5

transactional : minor modifications
( responsive leadership / work within organizational structure)
transformational : more disruptive (proactive leadership/ work to change organizational structure )

Question 6

provide overview of activities that may influence stakeholders

Answer 6

_communicate the vision
_build a track record
_establish trust
_keep learning

Question 7

provide detailed discussion on the competitive intellgince gathering , what framework, questions and competitive categories has to be considered

Answer 7

competitive intelligence :
_ PM should know who are the competitors and know how they will impact sales and profitability
_positioning shows the unique identity you have in mind of customers

questions to ask :
_how are we doing compared to competitors?
_ how many customer they have?
_what are their strength?

Question 8

explain the type of intelligence gathering and overall process and catefories

Answer 8

intelligence gathering
internal and external

external : TIME
T: technology
I: industry
M: Market
E: events