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Communication that cuts across the market as well as ease in passing of information among the various departments has been an issue of concern for firms. This has resulted to product management training. This is due to the fact that most managers tend to be market-driven. They keenly observe the market trend, listening to the market and coming up with appropriate solutions to the various problems that are faced in the market.
Managers thus tend to be consumer-oriented. They hence fail to pay attention to the various departments in an organization. They are able to note the difference between the marketing departments and a market itself. This has resulted in the need to train employees of an organization the various skills required in this field. Market situation might be different from what is perceived by the departments that deal with marketing.
The aspect of being driven by a market is crucial to success of an organization. This is because the firm is able to focus on the unanswered questions in its market area and design its objectives towards answering that. It thus does not pay much of its attention on the capacities of a firms input but rather ability to offer what market requires. The manager is thus the spokesperson of a market.
Commodity management is needed because it has various roles in the company or organization. It reduces risk exposure to a company as it is able to concentrate on the final consumers of their goods and services and thus stabilize demand. This avoids variations in revenue and costs which alter effective decision making.
A product manager is able to pass information about the various opportunities available in the market to an executive team. It also includes the strategies to be used in pursuing the opportunity. Risk assessment reports as well as the financial analysis regarding that opportunity are offered. It is thus a channel through which information regarding the market is passed to different implementing parties.
Requirements of a market is what product management focuses on. It communicates to developers in form of response documents from each type of consumer. It enhances the sales in an organization in that it is able to match the output of a firm to what the consumers actually need. This way the asymmetry in information is reduced.
Marketing is normally thought to be sales in most cases. Thus people involved in sales are regarded as a reliable source of information about the market. They speak to consumers all the time. However, they do not listen to what the customer want or requires.
Some form of training is thus required in all firms to ensure some basic skills in management are taught to all the employees in the organization. This will increase their productivity as well as how they relate to the consumers.
Managers thus tend to be consumer-oriented. They hence fail to pay attention to the various departments in an organization. They are able to note the difference between the marketing departments and a market itself. This has resulted in the need to train employees of an organization the various skills required in this field. Market situation might be different from what is perceived by the departments that deal with marketing.
The aspect of being driven by a market is crucial to success of an organization. This is because the firm is able to focus on the unanswered questions in its market area and design its objectives towards answering that. It thus does not pay much of its attention on the capacities of a firms input but rather ability to offer what market requires. The manager is thus the spokesperson of a market.
Commodity management is needed because it has various roles in the company or organization. It reduces risk exposure to a company as it is able to concentrate on the final consumers of their goods and services and thus stabilize demand. This avoids variations in revenue and costs which alter effective decision making.
A product manager is able to pass information about the various opportunities available in the market to an executive team. It also includes the strategies to be used in pursuing the opportunity. Risk assessment reports as well as the financial analysis regarding that opportunity are offered. It is thus a channel through which information regarding the market is passed to different implementing parties.
Requirements of a market is what product management focuses on. It communicates to developers in form of response documents from each type of consumer. It enhances the sales in an organization in that it is able to match the output of a firm to what the consumers actually need. This way the asymmetry in information is reduced.
Marketing is normally thought to be sales in most cases. Thus people involved in sales are regarded as a reliable source of information about the market. They speak to consumers all the time. However, they do not listen to what the customer want or requires.
Some form of training is thus required in all firms to ensure some basic skills in management are taught to all the employees in the organization. This will increase their productivity as well as how they relate to the consumers.
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