What does an Associate Product Manager do
Product management and a clearly structured portfolio
Successful products inspire customers. Enthusiasm arises when expectations are exceeded. Product management is initially responsible for this. At the same time, requirements and cost pressure are increasing immensely. In this area of tension, successful product management has to prove itself.
With product management to a clearly structured product portfolio and orderly life cycle support
Drastic changes in the boundary conditions, the competitive situation, increasing cost pressure, shorter product life cycles, requirements from platform developments and technology changes are changing the rules of the game, the competitive situation and product-market strategies.
Important questions to be clarified in product management:
- Are we correctly positioned in terms of the product-market strategy for the coming years?
- How can we record the internal and external requirements in a structured way in a requirements specification? How can the requirements for a product platform be combined with those of individual product generations?
- How can you install consistent change management to prevent unnecessary variant growth?
Dr. Wüpping Consulting GmbH is a management consultancy specializing in product development in technology-oriented companies and stands for the improvement of effectiveness, efficiency and interdisciplinarity. The aim is to use the resources available to ensure the best possible innovation, product variance and yield optimization along the entire life cycle. In order to achieve these goals, effective product management is required. With our holistic concept, we align your product management to the market. Comprehensive industry knowledge and knowledge of your product, service and technology portfolios round off our range of services.
1/2 Effective product management
Product portfolios develop through innovations, customer designs or market variants - often in an uncontrolled manner. The resulting wild growth is an extreme cost driver. The resulting complexity makes it easy to lose track and the implementation of targeted improvement measures becomes more and more difficult.
The challenge of the portfolio structure: focus or everybody's darling
The challenges for product management are varied, challenging and exciting. No other corporate division moves back and forth as flexibly as a link between strategy and day-to-day operations and between the market and the company. The work content is determined by the life cycle. Various questions have to be answered along the development, introduction, growth, maturity, saturation and decline phases of a product generation.
- When do we take the product off the market?
- Does a facelift or a new development make sense?
- What cost reduction potential is still realistic and what effort is reasonable or should we prefer the new development?
- How can a platform be designed for which product families?
To master these challenges, a systematic inventory and structuring of the product portfolio helps in many cases. With the help of the knowledge that was previously gained from the market and environment analysis.
The best thing is not to let it get that far in the first place and pursue active and forward-looking product management instead of using reactive methods to eliminate past failures.
Concepts and solutions for product management
If you want to lead your company to long-term success, you first have to take the right perspective: action instead of reaction is the motto in the product-market strategy. The aim is to avoid complexity from the outset through clear objectives and expandable products as well as potentially worthwhile waivers, and not only to contain it afterwards.
With the product-market strategy, we support you in meeting the needs of your traditional market with new products (innovations) or by developing additional product variants. This procedure can be advantageous for system builders. One of the many consequences of a weak product-market strategy is a proliferation of product programs. Due to the necessity of developing markets or having to deliver new products if success is unpredictable, product development entails significantly higher risks than market penetration. The product-market strategy decides whether existing products are to be delivered to new markets or new products to existing or new markets.
Identifying the competitors and knowing their strengths and weaknesses is part of the competition analysis. The competition analysis forms the basis for other topics in the business plan, such as strategy or product development.
Methodologically, a large number of and in some cases very good approaches can be used, e.g. from McKinsey, BCG, ADL or Porter.
In most cases, we rely on a tried and tested combination of pragmatic criteria for a proven, successful planning approach. This method has already been firmly implemented many times by various TOP companies.
Successful product developments always have one thing in common: a clear specification as well as a binding, approved target based on markets, applications, functions and costs. So the success is not a coincidence. We are happy to support you in setting up a structured approach and in developing structured requirements specifications.
For this reason, it is not enough just to define a consistent specification sheet for the product and the intended product platform at the beginning of product development. The requirements specification should be seamlessly transferred to systematic change management throughout the life cycle in order to avoid uncontrolled growth and costs caused by an uncontrolled increase in variants.
Portfolio analysis / optimization
Check your strategy for expediency at an early stage. Only in this way can the opportunities and risks be compared in good time with the strengths and weaknesses of your company and the need for action clear.
Methodologically, a large number of approaches, some of them very good, can be used, from McKinsey, BCG, ADL or Porter. In most cases, we rely on a combination of pragmatic criteria for a proven planning approach. This method has already been firmly implemented many times by various TOP companies.
Actively managing the range and not allowing it to be overburdened, achieving high market penetration and counteracting creeping expansion are important points in range optimization or a platform strategy.
Collecting and expanding is easy, the pain comes here with a delay and does not initially bother anyone. Focusing and actively managing, on the other hand, is much more demanding.
The variety of products is optimized by streamlining, consolidating and streamlining the product range according to the overall profit contribution, taking into account life cycle costs and process costs. In addition, opportunities and risks and the competitive position are assessed.
Our offer: Built it, Nail it, Scale it
Maximum harmony orientation in product management is the first step towards losing competitiveness. Speed and differentiated focus in the market launch are essential today.
In order to meet changing customer needs, high-performance product management is essential. We support you in
- lay the foundation for product management and the success of your products
- Recognize opportunities and trends and establish a clear requirements management system
- to include meaningful and valid competition analyzes in the decision-making processes
- Optimizing your product range and aligning it with the needs of your target group
- Organize your product range profitably with variant management
- Realize high resale rates and more additional purchases through configuration management
At DWC, we use coordinated processes, management tools and data for every phase in the product life cycle. This enables us to achieve a short time to market (Build it) with a clearly focused product classification system in the introduction (Nail it) as well as a methodical scale optimization (Scale it).
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