A product planning manager is an experienced professional who is in charge of creating and overseeing processes for introducing products into new markets. A product planning manager, for example, might be in charge of conducting research to help executives decide which products to develop and to whom they should sell them. Following the creation of projects, a planning manager may assist in describing the features and benefits of a product. Product planning managers are also frequently seen guiding and instructing marketing professionals working on campaigns.
A product planning manager is often well-educated, with a master’s degree in a field such as marketing or management. Professionals in this field are also likely to have extensive experience in a specific industry. Pricing, trends, and technological advancements are all things that a planning manager should be well-versed in. He or she should also be well-versed in the laws and regulations that apply to the industry in which he or she works.
Product planning managers play a significant role in determining a company’s direction. To create proposals, they gather business intelligence based on competitor behaviors, market research, and economic forecasts. These proposals could be for brand new products or ones that executives are unsure how to price and sell.
A product planning manager may be hired after a company begins producing a product to determine how it should be packaged and sold. He or she can figure out who marketing campaigns should target studying client demographics. This research can also help determine when a product will be released and how it will be priced.
A product portfolio may be put together a product planning manager. This is a graph or matrix that depicts how a company’s products perform in different markets. Information obtained from a portfolio can assist executives in determining which products are proving to be the most successful and where they may need to reduce production costs due to low profit margins.
When a company first starts marketing its products, it adjusts its campaigns to match the preferences and behaviors of people in different parts of the world. A marketing campaign in a small rural area, for example, might not be as effective as one in a densely populated city. A product planning manager frequently collaborates with marketing professionals to ensure that sales strategies are tailored to the needs of specific geographic areas. Market research conducted in each of these regions usually guides his or her decisions.