look at vocabulary related to product management. In many companies product

managers help develop and promote a product. Companies conduct a market

analysis as well as competitive research in order to develop a business case for

a product. A product roadmap lays out the plan for developing a product including

the go to market strategy and the product launch.

Product management

Product management involves the planning production and marketing of a product.

product manager A product manager guides all aspects of

product management including the technical and financial

Tom is senior product manager for our entire suite of accounting software.

market analysis

market analysis is a detailed study of a products industry and customers

analysis helps determine the price forecast sales and develop a marketing

strategy for a product it sounds like a great idea but we'll

need to do a complete market analysis before we can commit

competitive research competitive research competitive research is the

study of other companies that sell competing or similar products this

research involves looking at the competition's strengths weaknesses and

product offerings

competitive research has shown us how our strengths will help us in the shoe

market

business case business case a business case lays out the reasons for

launching a new product or service

this includes information on the product the market risk finances and operations

this business case supports our plans to expand into the mobile games market

product roadmap product roadmap

a product roadmap is a clear plan for the development of a product

road maps timeline helps people understand the development process

with all the delays in development we'll need to have another look at our product

roadmap

go to market go to market

go-to-market is a plan for attracting new customers to a product and gaining

market share a go to market strategy includes decisions about pricing

distribution and marketing

in the toy industry pricing and packaging are a really important part of

any go to market strategy

launch launch a launch is a series of events or

activities supporting the official release of a new product

purpose of a launch is to create excitement and promote sales of the

product Apple does a great job of building excitement before each new

product launch

now it's your turn to practice some of the words we've looked at in this lesson

in a moment you'll hear a series of sentences with a word replaced with a

beep repeat each sentence including the missing word

for example if you hear we're planning a really big for our new electric car

you can say we're planning a really big launch for our new electric car

we'll provide the correct answer after each question ready let's give it a go

after three years as a business analyst I've been promoted to product

answer after three years as a business analyst I've been promoted to product

manager

if you can put together a good business I'll help you present it to the product

team

answer if you can put together a good business case I'll help you present it

to the product team

before I agree to your idea I'll need to see a detailed market

answer before I agree to your idea I'll need to see a detailed market analysis

that's all for this episode of video vocab be sure to check out our website

at wwlp.com