The organizational structure within a business that manages the development, marketing and sale of a product or set of products throughout the product life cycle. It encompasses the broad set of activities required to get the product to market and to support it thereafter.
The role may consist of product development and product marketing, which are different (yet complementary) efforts, with the objective of maximizing sales revenues, market share, and profit margins. The product manager is often responsible for analyzing market conditions and defining features or functions of a product. The role of product management spans many activities from strategic to tactical and varies based on the organizational structure of the company. Product management can be a function separate on its own, or a member of marketing or engineering.
While involved with the entire product lifecycle, the product management's main focus is on driving new product development. According to the Product Development and Management Association (PDMA), superior and differentiated new products — ones that deliver unique benefits and superior value to the customer — are the number one driver of success and product profitability.
Creating Media Products
The task for today's production management lesson was to create three media products which would cater for 7 to 70 year old's who have a interest in things which are alternative and indie. The company was called 'Trashload' and the task was to stick to the brief as much as possible. We got put into groups of three by our choice and as a team create a mind map with our idea's, then a shortlist of our top three and reasons why. Then finally present our ideas in front of the class.
This mind map shows the varied amount of ideas my group and I had, we liked the thought of creating merchandise products like clothing items, stationary and camping equipment as people from all ages could relate and interested in those things. We also decided to look more at media products as we thought that would be successful with the style of the company we were given.
The three media products we choose were:
- Smartphone apps
- Clothing products
- Television channel
Why we choose these media products?
- We decided smartphone apps because in today's society a large majority own at least some form of technology which can download apps. Its more popular now for people of all ages to be interested in a world of technology and that's why we've decided to create multiple apps for all ages. Younger people like children from 7 to 11 years old would be attracted to fun and educational games also parents would be more accepting for them to use these devices if more apps like this were around. The apps we'd create for teens and adults in there 20's/30's would be music related but specifically alternative, something similar to the Shazam app which allows people to get the titles of songs they hear in public just by the click of a button. This would attract this age range because they are the stereotypical target audience to listen to that style of music. Finally the app idea for the older generation would something similar to a Kindle which is a tablet catered for reading where you download books straight to the kindle rather then having to have multiple books. This app would allow you to download popular books for free, create book playlists, and send books to other people with this app.
- The reason why we choose clothing items for our second media product was because people of all ages have interests in clothing which makes it a popular issue. Because the style of company is indie we've decided the only merchandise sold would be vintage band and musician t-shirts which people from 7 to 70 would be able to wear.Although mostly younger people wear band t-shirts it would still attract older people because there interest in alternative music lifestyle ect would be appealing to them.
- Finally we decided a television channel to be our last media product. The most popular television channels often have programs which cater for all ages like ITV and BBC, both channels which have a variety of TV shows which all people can watch for a children to a pensioner. The programs on the channel we'd create would have a mixed style but still relate to the indie and alternative theme. Programs like adventure shows, cookery shows and music shows would all be popular styles on the channel as they appeal to all ages.
