Product Executive
What's it like to be a Product Executive?
A Product Executive is responsible for overseeing and managing specific products or product lines within a company. They often work in close coordination with production, marketing and sales departments. Product Executives typically assess market trends, identify potential areas for product growth and make strategic product related decisions. This role requires constant monitoring and review of a product's performance, which includes conceptualisation, development, launch and post-launch activities. A Product Executive could be found in a wide range of industry sectors that manufacture or provide goods or services, like technology, pharmaceuticals or consumer goods. This role requires not only sound product knowledge, but strategic decision-making and leadership skills.
Tasks and duties
- Overseeing the development and launch of new products based on market needs and business objectives.
- Collaborating with various departments like marketing and procurement to ensure a smooth product lifecycle management.
- Gathering and analysing market trends, customer feedback, and competitive information to initiate product enhancements or new developments.
- Defining pricing and positioning strategies for products, and working closely with sales teams to maximise product recognition and success.
- Coordinating with the advertising or promotional team to develop effective marketing campaigns for each product.
- Monitoring and evaluating product performance to meet expected profit margins and market share.
- Providing regular product updates and reports to stakeholders and senior management.
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