A product planning manager develops and oversees the processes for introducing products into new markets, conducts surveys, mentors marketers, and creates proposals. They must have a solid understanding of factors such as prices, trends, and laws. They also determine how products should be packaged, sold, and marketed in different regions.
A product planning manager is an experienced professional responsible for developing and overseeing the processes by which products are introduced into new markets. For example, a product planning manager might be responsible for conducting surveys that allow executives to determine which products they should develop and to whom they should sell them. After projects are created, a planning manager can participate in describing a product’s features and benefits. It is also common for product planning managers to mentor and coach marketers who develop campaigns.
In many cases, a product planning manager is highly trained, usually with an undergraduate degree in a field such as marketing or management. It is also common for professionals in this field to have many years of experience in a particular industry. A planning manager must have a solid understanding of factors such as prices, trends and technological developments. He or she must also have a strong understanding of laws and regulations that affect an industry they work in.
Product planning managers play an important role in determining a company’s direction. They gather business intelligence based on competitor behavior, market research and economic perspectives to create proposals. These proposals can be for new products or products that executives aren’t sure how to price and sell.
When a company starts producing a product, a product planning manager can work to determine how it should be packaged and sold. By studying the customer’s demographics, he or she can find out who marketing campaigns should target. This research can also guide when a product is introduced and how it is priced.
A product planning manager may also compose a product portfolio. This is a matrix or graph that shows the performance of a company’s products in various markets. The information gained from a portfolio can help executives learn which products they are most successful with and where they might consider cutting production costs due to low profit margins.
When a company starts marketing its products, it changes campaigns to match the behaviors and tastes of those in different regions. For example, a marketing campaign in a small rural area might not be as effective in a densely populated urban area. A product planning manager often works closely with marketers to ensure that sales tactics meet the needs of particular regions. Their decisions are typically guided by market research conducted in each of these regions.
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