Discussion: The Product Management

Product management is very important aspects in order to manage the products and services of any company, however, products management include the management of the product characteristics that will satisfy the customer needs. In product management, the management or marketing department of the company manages the branding, packaging as well as the labeling so that product could be according to the desire of the customers and so that customers could be attracted. Consequently, product management also relevant to the positioning of the product, which is based on creating an image in the mind of the customers so that they get attracted towards the brand and product.

According to the article by Delmarva, et al. (2013), it is analyzed that there are challenges that are facing by the industries, regarding managing variety as well as the managing the products life cycle in the company for the customers. It is analyzed that there is products variety in the market, in this way, marketers can face the issues related to the complexity and cost of the products. The company Volkswagen Group focus on the customization of the product as the products management. There is a focus to increase the services and features of the products in order to enhance the consumers’ value. The marketers are concerned about the variety and approaches so that there could be molecularity in the product.

However, the article and the concepts in the book are related because both focus on the efficient products management as it is the need of the time and industry, there should be a focus on the commonality and differentiation of the products. Example, it is discussed in the article that manufacturing systems of the Volkswagen Group is focused on the product variety so that there could be effective co-development and so that there could be an increase in the effectiveness of the products in order to satisfy the customers’ demand. Thus, products management focused on the companies in the industry through undertaking the effective technologies. Moreover, there are companies in the market, that are enhancing the consumer's value through concerned about the new product functions and through making the product different in the market or market segments so that need of the customers could be effectively responded (ElMaraghy, et al., 2013).

Reference

ElMaraghy, H., Schuh, G., ElMaraghy, W., Piller, F., Schönsleben, P., Tseng, M., & Bernard, A. (2013). Product variety management. Cirp Annals, 62(2), 629-652.