Product marketing and management is one of the fastest growing segments as companies develop new products. It is one of the most difficult skills to find, particularly for large companies launching numerous products, product line extensions and/or refreshing old brands.
The top determinant of a product’s revenue success is whether it meets real customer needs. The real revenue is driven by pricing and packaging.
A company must have a detailed understanding of the product and a detailed appreciation of the customers’ problem and do the following:
– Determine the market needs
– Create persona's for each of the needs
– Determine product differentiation
– How success will be measured (revenue, margin, market share).
To be successful and grow your business and revenues, you must match the way you market your products with the way your prospects learn about and shop for your products.
Co-author of Inbound Marketing