Product Management Flashcards
1
Q
Product Management
A
- provides managerial focus to products and brands as profit-generating systems
- It is the organizational function dealing with thoughtful and proactive management of a product or a group of products thoughout all stages of the product lifecycle
2
Q
Product life cycle
A
-Life span of a product
“cradle-to-grave
3
Q
Sigmoid Curve
A
Learning phase, growth phase, saturation phase, decline phase
4
Q
7 steps of Product life cycle:
A
- Conceive
- Plan
- Develop
- Qualify
- Launch
- Deliver
- Retire
5
Q
Why management of product is needed?
A
Without management:
- Guesswork
- Chaos
- Misguided development
- Missed opportunities
With management
Increased probability of market success
6
Q
Upstream functions
A
- Strategies of product roadmap
- New product development
7
Q
Downstream functions
A
- Post-launch activities
- Including refresh/new line items after launch
8
Q
PM (Product Manager)
A
Strategy, planning, revenue, cost, marketing, sales, product delivery, operational rollout, and support of product
9
Q
GM (General Manager)
A
Profit and loss
Functional managers report to GM
10
Q
Value preposition of product management
A
Increase probability of success in the market
