Product Management Library of Knowledge
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Business Anthropology and the Culture of Product Managers
The first section of this paper explores the history and evolution of the three domains in the field of business anthropology. The second part utilizes a business anthropology lens to examine the field of product and brand management.Business and industry, according to Marietta Baba (2006) noted business anthropologist and professor, are fundamental ways of organizing and categorizing economic activity to meet basic human needs in modern market societies. Baba defines business, commerce and trade as the buying and selling of goods and services in the marketplace. She defines industry as the organized production of goods and services on a large scale.
7 Business Development Marketing Tips For Social Media
By Patrick Zuluaga
You have heard so many marketing experts telling everyone to use social media as part of their promotional marketing mix. The Internet is flooded with information on using Facebook, Twitter and other social sites. Numerous articles have been written on how using social media can help promote your brand image and how it can generate web traffic for your main business website.
Factors Affecting Consumer Behavior
By Asifo ShahConsumer behavior refers to the selection, purchase and consumption of goods and services for the satisfaction of their wants. There are different processes involved in the consumer behavior. Initially the consumer tries to find what commodities he would like to consume, then he selects only those commodities that promise greater utility. After selecting the commodities, the consumer makes an estimate of the available money which he can spend. Lastly, the consumer analyzes the prevailing prices of commodities and takes the decision about the commodities he should consume. Meanwhile, there are various other factors influencing the purchases of consumer such as social, cultural, personal and psychological. The explanation of these factors is given below.
Marketing Courage - Having What It Reality Takes
by Brian LawleySure you have a great product idea and the guts to build it, but do you really have a realistic picture of what it is going to take to bring it to market? Since we work with many startups (and also with larger companies that are trying to get breakthrough products off the ground) we'll oftentimes get to be in the thick of things when the tough go-to-market decisions get made. This article sums up a phenomenon that we see far too often.
Navigating the Changing Winds - 6 Master Strategies to Building Customer Loyalty
Navigating the Changing Winds - 6 Master Strategies to Building Customer Loyalty
By Kellie D'Andrea
The winds - "they are a changing my friend".... The current state of the economy, a new President, failing financial systems, fluctuating prices and high unemployment have caused many of us to pause and evaluate opportunities to reduce expenses and to optimize our performance. As our economy continues to fluctuate, controlling expenses and optimizing service levels from partners and vendors is going to become the focus for all of our customers. We all must be sensitive to these "changing winds" and enhance the experience of our customers each time we interact with them. We must go back to the basics of serving our customers and take the actions that make a difference. The simple actions - a patient ear, a please, a thank you, a quick update on status (even if you don't' have update to give - the fact you are reaching out to let them know you are working on their problem goes a long way) and a smile that can be heard over the phone are all simple things that we can do each and every day to stand apart from our competition.
The art of hospitality can be very profitable, but it does take some practice and effort. To succeed, you must be dedicated to customer service first, always demonstrating that you care about their issues. Although customers may not always be right, we all must agree that it is okay for them to be wrong. Treat everyone with concern and compassion. After all, our business is not about us - it's about the people we service and that single fact is more critical now as we navigate the changing winds... Below are 6 strategies that when applied, will evolve your customer service to the next level - customer loyalty.
Writing Effective Benefits Statements
Writing Effective Benefits Statements
by: Brian Lawley
One of the most common trap the marketing folks get into when working on technical products is focusing on the features of a product rather than the benefits to the end user. Features are great - we all want to know what is in a product and want to be able to compare it to other products. But at the same time there are many features that, while the benefits may be obvious to the Marketer or Product Manager working on them, may leave potential customers wondering why they matter.
Business Value of Outsourced Product Testing
By Somenath Nag
Introduction
The recent sharp downturn in the economy is forcing independent software vendors to reconsider their approach towards product engineering. In light of the new business realities, companies are forced to consider how they can reduce their R&D budget, or get higher return on the same or incremental investments. However, it is becoming increasingly important for ISVs to enhance customer loyalty and reduce support cost! ISVs are realizing that one way to achieve this is by improving the quality of the product without increasing the cost of quality. Consequently, ISVs are actively considering outsourcing non-core functions like testing to cut costs quickly, avoid new capital investment, and improve product quality.
Once Upon a Time, There Was a Wonderful Brand
By Martin Lindstrom
http://www.martinlindstrom.com/
The year was 1895. King Camp (his real name) stood before his shaving mirror, as he'd done many times before. A new thought occurred to him. His cut-throat razor was performing its job as well as usual, but so little of the blade was actually used in the shaving process. King Camp wondered about a new type of blade, one practically all edge. He thought about housing it in a device that would make shaving cuts and accidents nearly impossible. Then, he thought about making it disposable. If he could make a blade that was thin, flat, efficient, cheap, and disposable... did I neglect to mention King Camp's surname was Gillette?
Usability Engineering - A Key Component of Software Product Development
By Somenath NagUser experience is increasingly emerging as a key competitive advantage for software products. A software product that meets the customer needs, but unable to appease user passion, is not considered a winner anymore. Hence, it is critical today that ISVs are able to provide their users a compelling user experience - by focusing on aesthetics, and factoring in the ease of use and efficiency of use.
Lean Product Development Process - Using Stage-Gates® to Speed the Development Cycle
By Mitch MillsteinAbstract
How many products hit the market and are too expensive, too big, don't have the desired features or take too long to develop?
Lean is a Process Improvement Tool to reduce waste in organizations. Few processes cross over as many different departments in a company as product development. Product development can include hard-goods, software or new services. As the efforts cross marketing, research, engineering, purchasing, operations and sales there are numerous opportunities for the product development effort to stall or reverse direction. This can be due budget problems becoming visible; product definition being rushed and/or the operational problems.
