Product Management an der Fachhochschule Oberösterreich | Karteikarten & Zusammenfassungen

Lernmaterialien für Product Management an der Fachhochschule Oberösterreich

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TESTE DEIN WISSEN

How can customer benefits be classified? (5 level of satisfaction)

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TESTE DEIN WISSEN

Table Stakes

  • Are an absolute minimum requirement
  • No potential to differentiate from competitors

Functional benefit

  • Address benefits with regard to efficiency and performance
  • For a long time key to success for B2B

Support benefits

  • Support costumers in reaching their own goals
  • Objective (productivity, operational) vs. First subjective criteria (relationship)

Individual benefits

  • Address individual preferences and needs
  • Focus on personal and career-enhancing elements
  • Often irrational and emotional considerations

Inspirational benefits

  • Factors which support vision, hope, social responsibility
  • Abstract factors, strongly emotional
Lösung ausblenden
TESTE DEIN WISSEN

Analysation of the environment of a product? How to?

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TESTE DEIN WISSEN

U can use different tools to identify the environment of a product.

- PESTEL 

- Scenario methods --> possible futures



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TESTE DEIN WISSEN

Market and customer analysis? How to?

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TESTE DEIN WISSEN

- Market analysis

- Porters five forces 

- Market lifecycles 

- Customer analysis 

- Persona 

- Focus groups 

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TESTE DEIN WISSEN

What is product bundling? Why is t practised? 

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TESTE DEIN WISSEN

Compilation of two or more products which are sold as bundle

Important for success:

  • Selection of right products is critical
  • Advantages: Cost synergies, Increase sales volume, Differentiation from competitors, Market barrier
  • Key decision: Product/services to be bundled, Pricing, Branding
  • Example: Tv program offerings (Sky+Netflix+DAZN)
Lösung ausblenden
TESTE DEIN WISSEN

Explain product vs. functional management: 

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TESTE DEIN WISSEN

Functional managers are:

- specialists in their respective functions 

- product generalists 

- focus on the resources and the budget 


Product managers are:

- Product-market specialists 

- functional generalists 

- focus on market , customer and products 

Lösung ausblenden
TESTE DEIN WISSEN

What are the dimension of customer benefits? (4 dimensions)

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TESTE DEIN WISSEN

Mobility example:

1. Basic benefits: transport form a to b

2. Added benefit: Environmental friendliness and automatic updates 

3. Aesthetic benefits: Design, usability

4. Social benefits: social recognition and acceptance.  


= product value for the customer--> combines all aspects 

Lösung ausblenden
TESTE DEIN WISSEN

What is the typology of products? What is the difference between B2B and B2C? (3 classifications)

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TESTE DEIN WISSEN

B2B:

Convenience goods (milk, batteries,…)

Shopping goods (Furniture, TV, computer,…)

Speciality goods (real estates, cars,…)


B2B

Value: How big is a value of a product and therefore the risks?

Novelty: How familiar is the company with buying such goods?

Change requirements: How big is the degree of necessary change that is associated with a product?

Lösung ausblenden
TESTE DEIN WISSEN

What are the tasks of a product manager? 

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TESTE DEIN WISSEN

Strategic tasks:

- Analyse: Collect information, discover insights

- Design: Transformation of insights into customers problems, Formulate problem, strategy, positioning, differentiation, marketing and business plan

- Implement/Coordinate: Realisation of product concept, coordination effort

- Benchmarking 

- Optimise: Monitoring and improvement of products, create variations 

- identifying opportunities 


Operations: 

- Day-to-day tasks: Maintenance, Motivating, Collecting info, Controlling budget

- Short-term tasks: Marketing and promotion plans, Coordinating trade fairs and conventions, Participating in new product development teams, initiating product changes


Lösung ausblenden
TESTE DEIN WISSEN

What are the organisational forms pd product management and there pros and cons? (3 forms)

Lösung anzeigen
TESTE DEIN WISSEN

Line function

  • Directly reporting to executives
    1. +high hierarchy, authority, direct contact to executives
    2. -Overload for executives, additional operational tasks
  • Within marketing
    1. +Concentration on market-orientation
    2. -no contact no executives, long decisions, overload for marketing

Staff function

  • +bundling of product related tasks
  • -No authority, Complex alignment

Matrix function

  • +high collaboration, fast decisions, high involvement
  • -time consuming alignment, Capacity constraints lead to conflicts
Lösung ausblenden
TESTE DEIN WISSEN

What are the different product components? 


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TESTE DEIN WISSEN

Car example 

Product core: core functionality of a product --> mobility 


Added Function/ actual product: features such as comfort, security, engine power, image 


Basic services: contract for regular checks of the car, spare parts


Added services: insurance etc.

Lösung ausblenden
TESTE DEIN WISSEN

What are B2B elements of value for the customer?

Lösung anzeigen
TESTE DEIN WISSEN

Purchasing decisions are based on objectives and personal benefits 


In B2B personalised products to meet the expectation get standard


Product has to meet the benefit value composition.

Lösung ausblenden
TESTE DEIN WISSEN

Solution, value, benefit and cost relation in product management? 

Lösung anzeigen
TESTE DEIN WISSEN

In order to create high value products it is important to find the correct balance between relevant customer benefits, value proposition and related costs. Cost must be balanced with the potential value and benefits. 

A customer will always choose a product based on the highest value for himself. 

Lösung ausblenden
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Q:

How can customer benefits be classified? (5 level of satisfaction)

A:

Table Stakes

  • Are an absolute minimum requirement
  • No potential to differentiate from competitors

Functional benefit

  • Address benefits with regard to efficiency and performance
  • For a long time key to success for B2B

Support benefits

  • Support costumers in reaching their own goals
  • Objective (productivity, operational) vs. First subjective criteria (relationship)

Individual benefits

  • Address individual preferences and needs
  • Focus on personal and career-enhancing elements
  • Often irrational and emotional considerations

Inspirational benefits

  • Factors which support vision, hope, social responsibility
  • Abstract factors, strongly emotional
Q:

Analysation of the environment of a product? How to?

A:

U can use different tools to identify the environment of a product.

- PESTEL 

- Scenario methods --> possible futures



Q:

Market and customer analysis? How to?

A:

- Market analysis

- Porters five forces 

- Market lifecycles 

- Customer analysis 

- Persona 

- Focus groups 

Q:

What is product bundling? Why is t practised? 

A:

Compilation of two or more products which are sold as bundle

Important for success:

  • Selection of right products is critical
  • Advantages: Cost synergies, Increase sales volume, Differentiation from competitors, Market barrier
  • Key decision: Product/services to be bundled, Pricing, Branding
  • Example: Tv program offerings (Sky+Netflix+DAZN)
Q:

Explain product vs. functional management: 

A:

Functional managers are:

- specialists in their respective functions 

- product generalists 

- focus on the resources and the budget 


Product managers are:

- Product-market specialists 

- functional generalists 

- focus on market , customer and products 

Mehr Karteikarten anzeigen
Q:

What are the dimension of customer benefits? (4 dimensions)

A:

Mobility example:

1. Basic benefits: transport form a to b

2. Added benefit: Environmental friendliness and automatic updates 

3. Aesthetic benefits: Design, usability

4. Social benefits: social recognition and acceptance.  


= product value for the customer--> combines all aspects 

Q:

What is the typology of products? What is the difference between B2B and B2C? (3 classifications)

A:

B2B:

Convenience goods (milk, batteries,…)

Shopping goods (Furniture, TV, computer,…)

Speciality goods (real estates, cars,…)


B2B

Value: How big is a value of a product and therefore the risks?

Novelty: How familiar is the company with buying such goods?

Change requirements: How big is the degree of necessary change that is associated with a product?

Q:

What are the tasks of a product manager? 

A:

Strategic tasks:

- Analyse: Collect information, discover insights

- Design: Transformation of insights into customers problems, Formulate problem, strategy, positioning, differentiation, marketing and business plan

- Implement/Coordinate: Realisation of product concept, coordination effort

- Benchmarking 

- Optimise: Monitoring and improvement of products, create variations 

- identifying opportunities 


Operations: 

- Day-to-day tasks: Maintenance, Motivating, Collecting info, Controlling budget

- Short-term tasks: Marketing and promotion plans, Coordinating trade fairs and conventions, Participating in new product development teams, initiating product changes


Q:

What are the organisational forms pd product management and there pros and cons? (3 forms)

A:

Line function

  • Directly reporting to executives
    1. +high hierarchy, authority, direct contact to executives
    2. -Overload for executives, additional operational tasks
  • Within marketing
    1. +Concentration on market-orientation
    2. -no contact no executives, long decisions, overload for marketing

Staff function

  • +bundling of product related tasks
  • -No authority, Complex alignment

Matrix function

  • +high collaboration, fast decisions, high involvement
  • -time consuming alignment, Capacity constraints lead to conflicts
Q:

What are the different product components? 


A:

Car example 

Product core: core functionality of a product --> mobility 


Added Function/ actual product: features such as comfort, security, engine power, image 


Basic services: contract for regular checks of the car, spare parts


Added services: insurance etc.

Q:

What are B2B elements of value for the customer?

A:

Purchasing decisions are based on objectives and personal benefits 


In B2B personalised products to meet the expectation get standard


Product has to meet the benefit value composition.

Q:

Solution, value, benefit and cost relation in product management? 

A:

In order to create high value products it is important to find the correct balance between relevant customer benefits, value proposition and related costs. Cost must be balanced with the potential value and benefits. 

A customer will always choose a product based on the highest value for himself. 

Product Management

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