Levels of managing products
The product decisions are an important aspect for marketers because they decide if the customer will be interested in buying the product or not. Marketers are confronted with many decisions concerning a product such as special benefits, the package and the form of a product. The article “Managing Products” explains the different levels of Product Management such as: . . .
· Product Item level
· Brand Product Line level
· Category Product Line level
· Product Mix level
At the Product Item level responsibilities are associated with marketing a single product or brand as for instance a startup company may initially market just one product.
Then, at the Brand Product Line level the marketer has to manage two or more similar product items. Similar are products which carry “the same brand name, fit in the same brand category and offer similar solutions to customer’s needs” such as different packaging sizes, different forms (powder, liquid, etc.) or different added features. Brand product lines are often managed by a Product Line manager or a Brand Manager.
At the next level, the Category Product Line level, responsibilities are associated with managing two or more brand product lines within the same product category. These products offer similar benefits but target their offerings to different needs.
Finally, at the Product Mix level the manager decisions include “more category product lines that are directed to different product categories. In large companies the product lines are “very diverse and offer different solutions”. That means that the category product lines require similar general solutions but are aimed at different target markets in order to enlarge the target groups and to increase sales.
Importance of product decision-making
Product decisions represent just one aspect of marketer’s overall activities but these decisions are often the most important because they lead directly to the reasons for why the customer decides to choose the organization’s goods, services or ideas. Click to read article
0 Responses to “How to manage products”