Career Profiles Product Development Manager
This title - Product Development Manager - does not actually means that the person responsible for the product has to get in to production & then put in the market. However, it does mean that this person is responsible for nurturing the product, defining the product & then as per the definition target your market & customer profile.
In earlier days we used to just have a product development manager in pharmaceutical companies or the FMCGs. However, now a days we have these guys are all over the place - jewellery, watches, electronics and even in electricity companies which prefer to have their own managers handling the defined markets and getting the business on a smoother road.
Now this product can be already existing in the market and your job is to keep up with the competition and keep within the sight of the people. Or it can be a new product which you might have to identify from the available range to market in the area that is being targetted.
Some amount of market research is necessary. However, if it is expensive, a small survey can be exhaustively made in order to find our the position where we want to market the product. What is the demand of the product? What percentage of the population can do without our product? So exactly how many need it? How do they need it - meaning packaging, size, design etc? How frequently do they need it? Is it going to be retailed? At what price? What does the competition say in the market to our product? What will they do to outdo us? Can we both survive in this market? And so on. Believe me it is not so difficult. But yes the knowledge on the product and the market helps us to establish the need to be there and the tactics to be there as well.
Usually, a product is a part of the channel chain - meaning the manufacturer, super distributor, distributor, wholeseller, retail and then buyer. The bigger the channel to manage, the tedious the task of a product development manager. And the more expensive the product can become. So these days, companies are trying to minimise the channel length and take advantage of the cost-saving thus.
In doing all this one has to keep the channel links happy, satisfied and motivated which is another big task because the competition in the market is over-loaded always and if they are not focussed enough, we may lose some share - market share, mind share or the loyality share.
Once established, it is another task to maintain the position in the market and continuosly work on the development of the product, the packaging and the people who manage it. One has to be self-motivating too and keep all involved motivated as well.
Go ahead, its a rewarding job.
