Published on April 24, 2025. Modified on May 12, 2025.
- Analyse the market situation by forecasting & future planning.
- Identify gaps through product benchmarking with competition.
- Analyse the product lifecycle of value-added products by studying trends across national & international markets.
- Prepare cost benefit analysis for new products.
- Emphasize on development of value-added products and make strategies to improve the sale of value-added products.
- Conduct meetings with different customer segments to know Voice of Customers. Conduct Primary & Secondary studies in order to estimate market demand for potential product/service/idea.
- Analyse the current product basket on a regular basis and , share critical insights and work with CFT's to improve the product basket continuously for the business units.
- Drive conversions of insights into workable product ideas and suggest future road map of the product basket.
- Conduct competition benchmarking - product benchmarking, geographical mapping, Product-Price Mix etc. and suggest course correction wherever required.
- Study changes in government regulations & standards and generation new product/service ideas from the same
- Conduct various techno-commercial and market feasibility studies with CFT to ascertain selection of idea, define specification & prepare business plan (Sales Strategies, Customer Segments, Channel selection, Product Positioning, Price, USP, Competitor's product comparison)
'-Attend Customer complaints related to products along with quality and service teams to understand product issues and derive actionable for product improvement.
- In conjunction with Sales & Marketing ensure availability of marketing collaterals & Sales Tools - Product Catalogue, Technical Data Sheet, Samples, Video etc. before the product launch.
- Prepare key project win and loss analysis and derive learnings & share the same with sales team for learning & development.
- Develop and implement a company-wide go-to-market plan by working with all departments to execute the new product introduction plan.
- Lead the cross-functional team – consisting of NPD, Sales, Marketing, Production, CSD, Installation, MIS, Finance to ensure product readiness before launch within the specified timeline.
- Set KPI's for the new products and monitor the same for 6 months along with business/s and update the management on the performance w.r.t KPI. Identify and implement changes in Product/ Go to market for success.
- Take actions to phase out the products in matured stage.
- Identify training needs of sales & marketing staff through regular interactions and assist Head Product Management in identifying and finalizing training programs.
