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Managers allocate product development costs to maximize returns on investment and enhance competitive advantage. By investing in innovative products, they can meet customer demands and capture market share, leading to increased revenues. Additionally, effective cost allocation helps in budgeting and resource management, ensuring that projects align with strategic goals. Ultimately, successful product development can enhance a manager's reputation and career prospects within the organization.
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What are different types of managers in a organization?
In a manufacturing company you would have:Sales Managers - responsible for making salesMarketing Manager - responsible for advertisingPurchasing Managers - responsible for buying raw materialsProduction Managers - responsible for making the productFinance Managers - responsible for the moneyCost Accountants - responsible for analysing costsIT Manager - responsible for computingHuman Resources manager - responsible for staff training and welfare.Product Development Managers - responsible for new product designPersonnel Management - responsible for hiring, firing, and trainingTHIS IS A PROFESSIONAL EDIT
What is the difference between Product Management and Operations Management?
Product management in many cases involves a single line of products within the larger corporate framework. The product managers are tasked with making sure the procutes they are responsible for are manufactured or purchased economically, shipped, delivered, sold at a profitable price. An example would be within the old Borden corporation there were separate product management groups that dealt with Cracker Jacks and Elmers' glue products. Operations management deals with the infrastructure that enables the product managers, development managers, research managers, accounting managers and all of their staffs to do their work. Operations often will be the ones who provide the desk, the buildings, the telephones, computers, janitor services, security and on and on.. Sometimes the definitions change and operations will be the group directly responsible for the product, especially in a service business. Sometimes operations will be split into other areas, facilities, IT, food service, etc.. The definitions are flexible and unique to each company.
What is the salary for product manager?
It depends on the product, the company, the current employment market for product managers, and the individual's education, experience and performance.
What is a product by value analysis and what type of decision does it help managers make?
A product-by-value analysis lists products in descending order of their individual dollar contribution to the firm, as well as the total annual dollar contribution of the product. It helps managers evaluate possible strategies for each product. The product-by-value report focuses management's attention on the strategic direction for each product.
When 3m managers decided to manufacture post its notes a new product was born this is an example of in action?
When 3M managers decided to manufacture Post-it Notes, this exemplified innovation in action. They identified a unique opportunity to leverage a failed adhesive experiment into a successful product that transformed office supplies. This process showcases how creativity and strategic thinking can lead to the development of a new market category, illustrating the importance of adaptability in business.
What organization offers numerous programs and incentives to a variety of businesses for research and new product development?
The Department of Energy offers programs and incentives to businesses for research and new product development.
What organizations offers numerous programs and incentives to a variety of businesses for research and new product development?
The Department of Energy offers programs and incentives to businesses for research and new product development.
What of these organizations offers numerous programs and incentives to a variety of business for research and new product development?
Department of energy
What are the duties and respocsabilities of a marketing manager?
Marketing managers develop the firm's marketing strategy in detail. With the help of subordinates, including product development managers and market research managers, they estimate the demand for products and services offered by the firm and its competitors. In addition, they identify potential markets-for example, business firms, wholesalers, retailers, government, or the general public. Marketing managers develop pricing strategy to help firms maximize profits and market share while ensuring that the firm's customers are satisfied. In collaboration with sales, product development, and other managers, they monitor trends that indicate the need for new products and services, and they oversee product development. Marketing managers work with advertising and promotion managers to promote the firm's products and services and to attract potential usersMarketing managers develop the firm's marketing strategy in detail. With the help of subordinates, including product development managers and market research managers, they estimate the demand for products and services offered by the firm and its competitors. In addition, they identify potential markets-for example, business firms, wholesalers, retailers, government, or the general public. Marketing managers develop pricing strategy to help firms maximize profits and market share while ensuring that the firm's customers are satisfied. In collaboration with sales, product development, and other managers, they monitor trends that indicate the need for new products and services, and they oversee product development. Marketing managers work with advertising and promotion managers to promote the firm's products and services and to attract potential users Marketing managers develop the firm's marketing strategy in detail. With the help of subordinates, including product development managersand market research managers, they estimate the demand for products and services offered by the firm and its competitors. In addition, they identify potential markets-for example, business firms, wholesalers, retailers, government, or the general public. Marketing managers develop pricing strategy to help firms maximize profits and market share while ensuring that the firm's customers are satisfied. In collaboration with sales, product development, and other managers, they monitor trends that indicate the need for new products and services, and they oversee product development. Marketing managers work with advertising and promotion managers to promote the firm's products and services and to attract potential users
What are some of the management positions available in the IT field?
Product and process managers are responsible for design, development, and production of IT hardware and software components. Once the components are available for sale, sales managers are responsible for placing the product with customers.
What is 'the nature of management?
The nature of production management is to drive the development of the product for the company and business. The product managers are in charge of making sure the product is performing, developing, and growing for the company.
What is the nature of production management?
The nature of production management is to drive the development of the product for the company and business. The product managers are in charge of making sure the product is performing, developing, and growing for the company.
What does a production manager do?
"A Product Manager oversees the development of a product from concept development, through system demonstration, and into production. The Product Manager is responsible for the COST of the overall program to bring the item to market, the SCHEDULE of the development process, and the PERFORMANCE of the item once it is into production." This is the way most people think of product management, and it's a little off. In reality this is what a PROJECT manager is responsible for. A project manager is responsible for getting the product completed on time, on budget and on schedule. In simple terms a PRODUCT manager is responsible for the overall success of a product from its birth to its burial; the product lifecycle. Product managers maximize a products return on investment by evaluating the product vs. its place in the market and where the product is in it's lifecycle. Maybe the product needs to an update to extend its lifecycle or maybe the product has matured enough to become a commodity in the market so it's price may need to be rethought. Product Managers are the key to getting the most bang out of you products.
What are different types of managers in a organization?
In a manufacturing company you would have:Sales Managers - responsible for making salesMarketing Manager - responsible for advertisingPurchasing Managers - responsible for buying raw materialsProduction Managers - responsible for making the productFinance Managers - responsible for the moneyCost Accountants - responsible for analysing costsIT Manager - responsible for computingHuman Resources manager - responsible for staff training and welfare.Product Development Managers - responsible for new product designPersonnel Management - responsible for hiring, firing, and trainingTHIS IS A PROFESSIONAL EDIT
Which organization offers numerous programs and incentives to a variety of businesses for research and new product development?
The Small Business Administration (SBA) offers various programs and incentives to support businesses in research and new product development. Through initiatives like the Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR) programs, the SBA provides funding opportunities for innovative projects. Additionally, organizations like the National Science Foundation (NSF) and the Department of Energy (DOE) also offer grants and resources to facilitate research and development in various sectors.
What is the difference between Product Management and Operations Management?
Product management in many cases involves a single line of products within the larger corporate framework. The product managers are tasked with making sure the procutes they are responsible for are manufactured or purchased economically, shipped, delivered, sold at a profitable price. An example would be within the old Borden corporation there were separate product management groups that dealt with Cracker Jacks and Elmers' glue products. Operations management deals with the infrastructure that enables the product managers, development managers, research managers, accounting managers and all of their staffs to do their work. Operations often will be the ones who provide the desk, the buildings, the telephones, computers, janitor services, security and on and on.. Sometimes the definitions change and operations will be the group directly responsible for the product, especially in a service business. Sometimes operations will be split into other areas, facilities, IT, food service, etc.. The definitions are flexible and unique to each company.
Where is it possible to learn about the product development process?
It is possible to learn about the product development product at your local factory. Ask the manager nicely to have a tour in the product development lines.
