Product management is one of the most specialized areas in any business development plan. Product managers are highly skilled and knowledgeable, and oversee the development of the product in every stage of its cycle, from conception to launch. The required technical proficiency and expertise in this profession are encompassing. This field demands professional well-roundedness and familiarity with all the aspects of the creation, marketing, and sale of the product.
This type of management essentially works with various strategies ensuring the product’s success. The business equation always includes the consumer, and the product manager also takes note of that reality in the development of specific products. The decisions made within product management can affect everything and everyone, from the consumer to every employee in the production line.
Complex market cycles influence product development in many ways. The manager has to understand completely the driving components shaping the future of any product introduced to the market. He or she must also have a clear grasp of the whole business environment, including both existing and nascent competitors. A thorough insight into the psychology of consumers and the movement of market forces can aid in the implementation of effective marketing plans and value propositions.
Product management involves many intersecting fields and concerns. The technology that guarantees the success of a line can only work if the people behind the management of the product have accounted for all the variables. In the end, the product does not exist inside a vacuum. Its inception is occasioned by a multitude of factors.
Steven Rindner is a results-oriented executive with a strong background in business development and growth strategy across a number of industries including media, technology, real estate services, and healthcare. To learn more about his professional work, visit this page.
Industry reports indicate that more than 3 million bosses are going to retire this year. It’s not surprising then that recognizing that more and more millennials in the workforce is an important trend. They now make up the largest slice of the industry pie, and mentoring them for leadership positions is of prime importance for the future.
Aside from the increasing number of young faces, there will be an increase in customer engagement for the rest of this year and 2018. As more and more businesses embrace digital-based models, the need to maintain good relationships with customers is more important than ever. Many companies are investing in personalized customer experience, investing in things such as instructional sessions for clients instead of just selling products.
With the rise of the Internet of Things (IoT), collecting data from customers has likewise seen improvement. This allows for higher levels of service and stronger brand-customer relationships. Better data on customers allow companies to now make improved decisions from a wide variety of channels, offering more personalized and real-time involvement and service.
Crowdfunding, once relegated to artisan projects and specialty endeavors, is starting to play a bigger role in validating company products in the market in 2017. It has proven to be a very useful method for engaging customers and gaining insight on products. Crowdfunding actually raised $34.4 billion for businesses in 2015.
Businesses are also seeing the importance of automating things, as evidenced by the inclusion of chatbots in company websites. Voice-based technologies like Siri or Google Assistant are being intertwined with smartphone services, and it won’t take long before even more immersive innovations like holographic computing become the norm and redefine market interaction.
Steven Rindner is a business and corporate development executive with experience in media, technology, real estate services, and healthcare businesses. He is currently leading a number of corporate development initiatives. For similar reads, drop by thisblog.
The common misconception about businesses is that they’re only truly good for the business owner, and they are the only one who truly profits from it. But that’s not entirely true. Businesses, especially thriving ones, are great for everyone in the long run.
Everything that is bought to help a business flourish, from vehicles and computers to office supplies, tables, and chairs, all contribute to the growing economy. The money put in to purchase all this is called capital investment and part of it is given to the federal government.
Sure, when a business grows, business owners profit from all their hard work. They also get to buy more equipment for their company to help it expand. Again, part of the money used goes to the government as taxes. As a company increases its profit and as it expands, the more it can give to the economy. The more taxes means the government can pay for better infrastructure for its citizens.
As businesses in a community begin to flourish, so does the community itself. Better roads and better government service come from all the taxes that are paid. This is a huge reason why people are not only urged to help businesses thrive, but start businesses of their own.
Steven Rinder is a business and corporate development executive with experience in different fields. He is also a running enthusiast. To learn more about Steven Rindner and the stuff he’s passionate about, check out this Google+ page.
There are people who “go for a run” when things aren’t going very well.The feeling of freedom while breaking a sweat is an activity that never fails to soothe the mind. Especially in stressful situations, physical activity has been proven to release endorphins that boost mental capacities. Aside from giving the brain a jolt, these endorphins are also known for being the body’s natural antidepressant.
The Anxiety and Depression Association of America says that managing stress can be learned. Individuals can resort to different activities that can help them cope with anxiety and depression resulting from stressful situations. One of the most effective ways is by engaging in regular physical activities such as running.
As an exercise, running is effective not just in conditioning the person’s physique but also in increasing awareness, focus, and overall function. A body that is in a state of fatigue experiences interrupted interaction between the systems. This is why people who are stressed or are dealing with mental health issues are also suffering from slow metabolism, breathing problems, and heart ailments. Doing a physical activity that follows a rhythm such as running can restore the seamless interaction among the different parts of the body. When the rhythm is restored, a person can sleep well, eat properly, perform cognitive and physical tasks faster, and interact with others better.
Running is a proactive solution that helps alleviate the symptoms of depression and stress. It also restores physical functions that have been disturbed by stress-inducing situations. When the blues come, it’s better to face it head-on by going for a run instead of sulking.
Steven Rindner is a business and corporate development executive with an experience in media, technology, real estate services, and healthcare businesses. For similar reads, follow this blog.
The definition of business development seems to be as elusive to the definition as a catfish in a fast-moving stream. Business development, like many other things, has a lot of different aspects; it’s just that some people take these elements and call each of them “biz dev.” It can have something to do with sales, building relationships, establishing new markets, and streamlining existing processes. It’s just a question of what needs to be done in the present even if that means doing two or more at the same time.
A new business, for example, needs to take stock of where it wants to go and what it wants to achieve. It needs to concentrate on the nitty-gritty of growing a successful business succeed and allowing it to continue to expand and exceed its triumphs.
This means focusing on some basics: cost savings, capacity building, sales, networking and making strategic partnerships. It also calls for managing crucial elements: product development, supply chains, customer care, and even dealing with vendors.
All of these should focus on being able to sustain long-term value for a company. This means being able to stay in chosen markets, reaching the right customers, delivering the expected and agreed upon product or service, making sure that necessary support systems and infrastructure are always ready, and, most importantly, ensuring that any opportunity taken advantage of will create even more opportunities over the long-term.
These are the things that Steven Rindner deals with on a daily basis. He’s worked with media, technology, real estate, and health care to make sure these businesses succeed. For more business insights, click here .
The company’s brand is its symbol, and as such, should be treated with utmost respect and care. A trusted brand makes a company. A brand that is tarnished, however, can spell doom for the business. It is imperative, especially in this digital age, that business owners learn how to protect their brand.
It wouldn’t take a lot of effort for competitors or disappointed customers to damage the brand of the company, especially over the internet. Business owners should know just how significant domain names and internet addresses are. Choosing, ordering, and registering extensions at the Trademark Clearinghouse can go a long way in protecting the future trademark of a company.
Uniform Rapid Suspension, also known as URS, and Uniform Domain Name Dispute Resolution, or UDRP, may be filed when a brand is being threatened. Company owners should have people dedicated to learning about these complaints for when the worst happens. For example, when brand infringement happens, brand owners can file a URS on the people behind it, or on the domain itself. URS has the power to shut down a website. UDRPs are for more serious offenses, and often include court hearings.
On December 2016, sportswear giant Nike launched a moonshot project that was, as the company described it, “designed to unlock human potential.” The simple but audacious goal was to break the two-hour mark in a full marathon.
It took Nike two years of planning and research before finally forging ahead with its vision to top the current world record for a marathon at 2:02:57 set by Dennis Kimetto of Kenya in Berlin on September 2014. The sportswear giant also brought together a powerhouse team composed of world-class experts across the fields of biomechanics, coaching, design, engineering, materials development, nutrition, and sports psychology and physiology who scrutinized every aspect of the Breaking2 attempt, from weather conditions leading to the day of the race to products used by the runners.
Moreover, central to the success of the Breaking2 project was the team of elite athletes who were perfectly equipped to chase history down the 26.6-mile track: Kenya’ Eliud Kipchoge, Ethiopia’s Lelisa Desisa, and Eritrea’s Zersenay Tadese. Kipchoge, the men’s marathon gold medalist at the 2016 Rio Olympics, ran a personal of 2:03:05 in the 2016 London Marathon. Tadese, also an Olympic medalist and World Half Marathon Champion, is the current holder of the men’s half marathon world record at 58:23. Desisa, meanwhile, also won a number of high-profile races. During his marathon debut at the 2013 Dubai Marathon, he clocked a personal best of 2:04:45.
While Nike’s quest to beat the two-hour marathon came up short — with Kipchoge finishing the race in 2 hours and 25 seconds – it was still a laudable effort by the brand and its team of experts and elite athletes. As Kipchoge explained, his aim at the start of the race was 1:00:59; but as he crossed the finished line and realized he fell short of his goal, he remarked, “the world is only 25 seconds away.”