What you'll learn:
- Match phases of the product life cycle to actions that should be taken at each phase
- Sequence the stages of the new product development process
- Match current best practices in new product development with their description
- Match strategies used to manage existing and mature products and services with examples of the ways they are used
The course on Product and Service Management is part of the Operations Management Training Program which includes a number of eight sections also presented as individual courses for your convenience.
When customers walk into a shop and look at the products for sale, they probably aren't aware of the level of work that is involved in getting a product onto the shelf. They want to pay a fair price for the item and expect it to fulfill its purpose. Millions, if not billions, of similar transactions happen everyday as products are bought and sold.
Each product's journey to the market has been strategically planned, revised, and supervised in great detail. This process is known as product and service management. It is a managerial approach that companies use to understand how best to develop new products and services, and manage existing and mature ones.
The operations section of an organization deals with product and service management. How operations management interfaces with product and service management varies from organization to organization, depending on the industry and whether it's a product or service being produced.
In this course, the complexities, differences, and nuances of product and service management, are presented in a deliberately scaled-back manner for instructional and training purposes. Product and service management has a key role to play in the operations management function. In addition, it often exerts influence on the marketing function.
In an ideal situation, the idea for a new product will come from customers. Marketing will deliver the product concept to operations, where it will be designed, developed, and finally supplied to the market. Once the customer interacts with the product, marketing and sales become responsible for it again.
To further your understanding of product and service management, this course covers the product and service life cycle, the development of new products, and how to manage existing and mature products.
That’s it! Now go ahead and push that “Take this course” button, and see you on the inside!
