- Product marketing
Product marketing deals with the first of the "4P"'s of
marketing, which are Product, Pricing, Place, and Promotion. Product marketing, as opposed to product management, deals with more outbound marketingtasks. For example, product management deals with the nuts and bolts of product developmentwithin a firm, whereas product marketing deals with marketing the product to prospects, customers, and others. Product marketing, as a job function within a firm, also differs from other marketing jobs such as Marcomor marketing communications, online marketing, advertising, marketing strategy, etc.
A Product Market is something that is referred to when pitching a new product to the general public.The people you are trying to make your product appeal to is your consumer market.For example: If you were pitching a new
video game consolegame to the public, your consumer market would probably be a younger/teenage market (depending on the type of game). Thus you would carry out market researchto find out how best to release the game. Likewise, a massage chair would probably not appeal to younger children, so you would market your product to an older generation.
Role of product marketing
Product marketing in a business addresses four important strategic questions:ref|wheelright-clark-1992
* What products will be offered (i.e., the breadth and depth of the
* Who will be the target customers (i.e., the boundaries of the market segments to be served)?
* How will the products reach those customers (i.e., the distribution channels to be used)?
* Why will customers prefer our products to those of competitors (i.e., the distinctive attributes and value to be provided)?
Product marketing vs. product management
Product marketing frequently differs from product management in high-tech companies. Whereas the
product manageris required to take a product's requirements from the sales and marketing personnel and create a product requirements document(PRD),ref|social-good-sample-prd which will be used by the engineering team to build the product, the product marketing manager can be engaged in the task of creating a marketing requirements document(MRD), which is used as source for the product management to develop the PRD.
In other companies the product manager creates both the MRDs and the PRDs, while the product marketing manager does outbound tasks like giving product demonstrations in trade shows, creating marketing collateral like
hot-sheets, beat-sheets, cheat sheets, data sheets, and white papers. This requires the product marketing manager to be skilled not only in competitor analysis, market research, and technical writing, but also in more business oriented activities like conducting ROI and NPV analyses on technology investments, strategizing how the decision criteria of the prospects or customers can be changed so that they buy the company's product vis-a-vis the competitor's product, etc.
In smaller high-tech firms or
start-ups, product marketing and product management functions can be blurred, and both tasks may be borne by one individual. However, as the company grows someone needs to focus on creating good requirements documents for the engineering team, whereas someone else needs to focus on how to analyze the market, influence the "analysts", press, etc. When such clear demarcation becomes visible, the former falls under the domain of product management, and the latter, under product marketing. In Silicon Valley, in particular, product marketing professionals have considerable domain experience in a particular marketor technologyor both. Some Silicon Valley firms have titles such as Product Marketing Engineer, who tend to be promoted to managers in due course.
The trend that is emerging in Silicon Valley is for companies to hire a team of a product marketing manager with a technical marketing manager. The
Technical Marketingrole is becoming more valuable as companies become more competitive and seek to reduce costs and time to market.
Typical qualifications for this area of business are is a high level Marketing or Business related degree, e.g. an MBA, not forgetting sufficient work experience in related areas. As a key skill is to be able to interact with technical staff, a background in engineering is also an asset.
1. This is described in further detail by S. Wheelright and K. Clark in "Revolutionizing Product Development" (1992), p. 40-41; at the beginning of the section titled "Product/Market Planning and Strategy".
2. This thirty page PRD details the authoring of the product requirement document in further detail, and can be viewed at http://software.franteractive.com.
Wikimedia Foundation. 2010.
Look at other dictionaries:
product marketing — UK US noun [U] MARKETING, COMMERCE ► the process of attracting people s attention to a product and persuading them to buy it: »I coordinate all phases of product marketing including launch, planning, budgeting, packaging, sales, and pricing … Financial and business terms
Association of International Product Marketing & Management — The Association of International Product Marketing Management (AIPMM) is a professional association for product managers, founded in 1998. It has approximately 8,000 members worldwide. It runs certification courses for product managers and… … Wikipedia
Marketing research — Marketing Key concepts Product marketing · Pricing … Wikipedia
Marketing mix — Marketing Key concepts Product marketing · Pricing … Wikipedia
Marketing management — Marketing Key concepts Product marketing · Pricing … Wikipedia
Marketing ethics — Marketing Key concepts Product marketing · Pricing … Wikipedia
Product management — is an organizational function within a company dealing with the planning or marketing of a product or products at all stages of the product lifecycle. Product planning (in bound marketing) and product marketing (outbound marketing) are different… … Wikipedia
Marketing effectiveness — Marketing Key concepts Product marketing · Pricing … Wikipedia
Marketing communications — Marketing Key concepts Product marketing · Pricing … Wikipedia
Marketing performance measurement and management — Marketing Key concepts Product marketing · Pricing … Wikipedia