New Product Planning Manager Job Profile and Description
To remain enjoying a competitive edge, a brand often has to be continuously offering new products to its existing markets or expand to new markets with new products. This is where the New Product Planning Manager comes in. Based on market research information, new market needs can be identified for certain demographs or lifestyles. In addition, new products, whether evolutionary or revolutionary, can be positioned to create market demands from existing or new markets. Going beyond what the product development department can do, the New Product Planning department works to market entirely new or derivative products and ancillary services.
New Product Planning Manager Duties and Responsibilities
- Analyze market demographics and psychographics to discern buying trends, habits and preferences per market segment to confirm target markets for new products or services.
- Present to management recommendations on market positioning of new products and services.
- Design products and services based on market preferences and perceptions for maximum penetration and reach.
- Gather and analyze data on competing products and determine the best product mix and where to compete effectively.
New Product Planning Manager Skills and Specifications
- Has thorough knowledge about the company products and services as well as their marketing potentials
- Can think out of the box and recommend solutions to marketing problems
- Excellent organizational, communication, people management, marketing, planning and interpersonal skills
New Product Planning Manager Education and Qualifications
- A BA/BS degree in marketing, commerce, mass communication or management is basic and a course related to the industry where the business operates is an advantage.
- A few years of experience in brand management or marketing is preferred while an MBA is an advantage
New Product Planning Manager Salary
The median annual salary for product managers in 2008 was at $106,000 with a wide latitude between lowest and highest. The salary often depends on the nature of the product being developed and the extent of its marketing operations. For sure a new product manager that handles a new aircraft will have a higher salary than one that comes out with new pair of athletic shoes.
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