Friday, September 28, 2012

Marketing Functions of Product Management

In the world on enterprise software, Product Managers have to wear several hats - one of them is a "Marketing Hat", and perform marketing functions. Product managers support marketing in following areas:

1. Retain existing Customers. 

  • Add new features/functionality: Listen to customers and enhance current products
  • Product Sustenance  Direct customer support teams when needed
  • Provide upgrades: Encourage customers to upgrade to newer & better products
  • Develop product integration solutions: Integrate current product with other adjoining products for deeper customer penetration

2. Selling more to all Customers

  • Add new products into the solution mix.
  • Increase the wallet share

3. Establishing the Brand Value

  • Deliver on the promise: Ensure products perform as promised
  • Run Beta programs. 
  • Match the price the product with customer affordability
4. Acquire New Customers

  • Do product demo
  • Support product road shows
  • Support customer POC
  • Develop Marketing Collateral: Help develop Product Videos & white papers

Not all product managers do all the above marketing activities, but these are the most common marketing activities.

No comments: