Question

Explain  the factors that affect Product Management Decisions​

Answer 1

Answer:

Whether the product can satisfy the customer needs fully or partially. ... The cost of manufacturing the product, whether is too high or managable. 5. Cost of raw materials for manufacturing the product is key to effective product management.

Answer 2

Answer:

The factors are as follows:

1.The product life cycle. Whether the product can be reused or not.

2. Customer need satisfaction. Whether the product can satisfy the customer needs fully or partially.

3. Availability of the product's substitutes in the market.

4. The cost of manufacturing the product, whether is too high or managable.

5.Cost of raw materials for manufacturing the product is key to effective product management.

6.Product diversification- whether the product can be easily diversified to look unique for competition purposes.

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