Establishing an excellent product management process requires integration of five primary process elements: strategy, product management, portfolio management, project management, and resource management. Product management is comprised of a collective set of functions including planning, marketing, and delivery of the product to the market, managed throughout all stages of the product’s lifecycle. Consequently, product management must be supportive of a company’s product strategy which is, in turn, driven by the marketing strategy.
The marketing strategy is shaped by the broader business strategy. It defines how the organisation will engage customers and prospects and integrates the organisation’s marketing goals, policies, and tactical initiatives into one overall plan.
Many companies struggle to maintain product management and marketing strategy alignment due to ever-changing market dynamics and their influence on the marketing strategies. Unless a formal product management process is in place, unplanned market events can quickly undermine the products counted on to deliver a company’s strategic objectives.
This paper will describe the five elements of the product management process required to support an overall Integrated Business Model.
Sign up to our newsletter for updates, insights and news straight to your inbox.
Taking you from Method to Meaning™️ to deliver…
How Leading Organisations Partner with Us to Drive Lasting Improvement
Method to Meaning™️: Our human-first approach to performance improvement
Global reach. Local understanding. Real-world experience.
