Subject: MM- 304C PRODUCT MANAGEMENT Course Objectives: The objective of this course is to acquire the conceptual understanding of Product Policy Management and its applications for corporate growth and development. Examination Scheme: The faculty member will award internal marks out of 40 based on three assessments of 20 marks each of which best two will be considered. The end semester examination will be worth 60 marks having theory and cases/practical problems. Course Content: 1. Introduction to Product Policy Management: Why Product Management, Relationship between Competition, Marketing and Product Management, Types of Product, Product classification, Product Management Process. 2. Product Manager: Functions of Product Manager, Role and Responsibilities of Product Manager, Qualities required for successful Product Manager. 3. Product Life Cycle: Concept of PLC, Operationalizing the aspects of PLC concept, PLC as forecasting model, PLC as guideline for Marketing Strategy, Extension of PLC. 4. Product Planning and Strategies: Proposed Product Planning Model-Setting Objectives, Monitoring the Environment, Situation Analysis; Development of a Product/Market Program, Product Mix Strategy. 5. Product Design and New Product Development: Characteristics of Successful Product Development, New Product Development Process and Organizations. 6. Test Marketing Product Launch and Commercialization: Test Marketing Objectives, Limitations of Test Marketing, Design Consideration in Test Marketing, Alternatives to test Marketing Procedures, Product Launch, Tracking, Relaunch. . Future Trends and Product Management: Obstacles to success of Product Management, Copying Strategies, Direction of Future Research. Text Readings: 1. Wind Yoram J. , “Product Policy: Concepts, Methods and Strategies”, Massachusetts, Addison-Wesley Pub. Co. , Reading USA. 2. Baker Michael and Hart Susan, “Product Strategy and Management”, London, Prentice Hall. 3. Ramanuj Majumdar, “Product Management in India”, New Delhi, Prentice Hall, India. . Lehman, D. R. and Winer, R. S. , “Product Management”. Suggested Reading: 1. Ward John, “Profitable Product Management”, London, William Heinemann Ltd. 2. Urban L. Glan, Hauser R. John, and Dholkia Nilkesh, “Essentials of New Product Management” New Jersey, Prentice Hall, Englewood Cliff. 3. Ulrich Karl T. , Eppinger Steven D. , “Product Design and Development”, Boston, Irwin McGraw Hill.
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