Discuss the changes that are affecting product management
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The changes that are affecting product management
Increase global competition, The product managers need to deal with the worldwide competition by having appropriate organizational structures and obtaining experiences on how a variety of cultures conduct business.
Changes in the balance of market power, balance of power nowadays have shifted from manufacturers to the retailers due to the improvement in the technology, retailers must be treated as a key customer and this is very much important to treat them that way since they are the once who are close to the end customers.
Increase emphasis on the brands, Brand equity is not just a descriptive level but it is also a product attribute that require consistent investments for maintenance and enhancement.
WEB since it's evolution it has really changed the way people market, because it is a new channel of distribution, communication medium and also a new way of creating community around a brand. It helps in customer acquisition and retention and also part of brand building.
Data explosion whereby almost all products being sold are tracked. Data mining is the tool used mostly to plumb the depth of transaction and traffic data in order to better place and make unique offers to site visitors.
Increase global competition, The product managers need to deal with the worldwide competition by having appropriate organizational structures and obtaining experiences on how a variety of cultures conduct business.
Changes in the balance of market power, balance of power nowadays have shifted from manufacturers to the retailers due to the improvement in the technology, retailers must be treated as a key customer and this is very much important to treat them that way since they are the once who are close to the end customers.
Increase emphasis on the brands, Brand equity is not just a descriptive level but it is also a product attribute that require consistent investments for maintenance and enhancement.
WEB since it's evolution it has really changed the way people market, because it is a new channel of distribution, communication medium and also a new way of creating community around a brand. It helps in customer acquisition and retention and also part of brand building.
Data explosion whereby almost all products being sold are tracked. Data mining is the tool used mostly to plumb the depth of transaction and traffic data in order to better place and make unique offers to site visitors.
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