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Organizination And Management Of Advertising
Agencies And Advertising Departments- Stimulating interest in and support for the products among persons, distributors and the
distribution channel. - Direct control over product innovation, quality and development.
- Production profit and loss performance.
- Marketing information management by collecting, on continuous basis, information on
products performance, customer and dealers’ attitude, and new problems and opportunity. - Formulating a competitive strategy to deal with competition as it affects his product line.
ADVANTAGES OF PRODUCT MANAGEMENT SYSTEM
- The product manager balances and harmonizes the various marketing inputs needed by
a product. - The product manager can react more quickly and tactically to the market change, without
involving a lengthy organizational approach. - No brands are neglected, even if they are not market leaders.
- Product management enables the company to train its young executives, to develop skills
needed for top management functions.
DISADVANTAGES OF PRODUCT MANAGEMENT SYSTEM
- Product management introduces many sources of personality conflict; such conflict can
arise between the product manager and the functional departments. - The product manager does not have total authority over his responsibilities.
- The product manager becomes an expert on his product with lesser knowledge about other
departments’ activities. - Product manager system is usually expensive to run.
TYPES OF PRODUCT MANAGERS
ESTABLISHED PRODUCTS ONLY:
Here, product manager is concerned solely with the management of an established product line.
ESTABLISHED AND NEw PRODUCTS wITHIN A GIVEN PRODUCT LINE: In this type, the
product manager is fully in charge of a given product line. He shoulders the burden of innovation in
addition to his duty of managing the established products.
NEw PRODUCTS ONLY: Product manager, in this case, is only concerned with the development and
management of new products.