Managing Products

Alexander Chernev

Cerebellum Press

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A company’s products—along with its services and brands—are a key source of customer value and one of the primary reasons why customers buy and use a company’s offering. In this context, product management aims to optimize the value that a company’s products deliver to target customers and do so in a way that benefits the company and its collaborators. The key product-management decisions are the focus of this note. The discussion of product management is complemented by an in-depth overview of three additional topics: design thinking, benefit visibility in product design, and product patents. This note is an excerpt (Chapter 9) from Strategic Marketing Management: Theory and Practice by Alexander Chernev (Cerebellum Press, 2019).