Role & Responsibilities :
The role of the Product Manager for Furniture Fittings is to strategically drive the development, launch, and continuous improvement of innovative furniture fitting products that meet customer needs and enhance overall market competitiveness.
By leveraging market insights, cross-functional collaboration, and data-driven decision-making, the Product Manager will ensure successful product lifecycles that contribute to the company's growth and profitability, while fostering strong relationships with customers and stakeholders.
Job Description
1. Product Strategy Development :
- Define the product vision and strategy for the product line.
- Establish short- and long-term goals, aligning them with overall organisation objectives.
2. Market Research and Analysis :
Conduct thorough market research to identify customer needs, preferences, and pain points.Analyse competitors and industry trends to inform product positioning and differentiation.3. Product Development Oversight :
Collaborate with design and manufacturing teams to develop innovative, high-quality furniture fittings.Manage the product development process from concept through to final production, ensuring adherence to timelines and budgets.4. Product Lifecycle Management :
Manage the entire product lifecycle, from ideation to launch, and through ongoing iterations and improvements.5. Cross-Functional Collaboration :
Work closely with marketing teams to develop effective product launch strategies, including promotional materials and campaigns.Partner with sales teams to provide the necessary training and resources for successful product selling.6. Customer Engagement and Feedback :
Interact with customers, stakeholders, and end-users to gather insights and feedback on product performance and potential improvements.Facilitate focus groups or surveys to understand customer preferences and validate product concepts.7. Performance Monitoring and Analysis :
Track product performance metrics post-launch, including sales figures, customer feedback, and market trends.Utilize data analytics to assess product success and make informed recommendations for enhancements or new features.8. P&L Management :
Own the product's Profit & Loss (P&L) by ensuring revenue growth, cost management, and profitability throughout the product lifecycle.Manage product-related budgets and resources, ensuring efficient use and alignment with project priorities.9. Sales & Demand Forecasting :
Analyse market demand, sales data, and customer trends to create accurate sales forecasts and align production with demand.10. Product Training Monitoring :
Oversee the creation and delivery of product training for internal teams and external stakeholders to ensure knowledge transfer and product expertise.11. New Product Development & Go-to-Market Strategy :
Collaborate with marketing, sales teams & other department stakeholders to develop and execute a successful go-to-market strategy for New Product Development.12. Continuous Improvement :
Identify opportunities for product improvements based on customer feedback and market analysis.Stay updated on industry innovations and technological advancements to enhance product offerings.(ref : iimjobs.com)