Today, various business management jobs are in great demand with job applicants, as over the last decades the business environment has gone through a series of significant changes. It has resolved in the emergence of a number of new marketing, public relations and management concepts and, consequently, job positions. Among them, there are various business management jobs. Take into account some clues on one of such relatively new business management jobs. It is the position of a product manager. This position is one of the most sought after among the business management jobs. However, there are quite a few things job applicants need to know and understand in order to become competitive and to find good work propositions.
The primary things product managers need to know about and have skills in are sales, since their job is to support the sales process. It means they need to be well acquainted with all the inns and outs of it. Let us start with introducing an idea of the sales cycle. It has several stages. Here they are: prospecting, qualification, discovery, solution, implementation, service and support, and references and referrals. In order to do their job well, product managers need to know and understand all these product sale stages.
Prospecting is a stage, where you should define who your target customers and prospective consumers are. Saying it in other words, you have to find out who you are to target with your advertising and product promotions. A little research might be required to do that.
The next stage is a qualification. It narrows down your search. On this stage you should make a decision on whether any particular prospect is open for making a purchase. You should be able to determine whether your product meets the prospect's needs or whether your prospect is willing to make a purchase within a relevant time frame.
The following one is the discovery stage of the sales cycle. Here it is where you need to detect what can drive a person to make a purchase, or if you have a corporate client, find out who is responsible for a final decision making on purchases.
On the solution stage of your product sale cycle you have to be able to present your product or service as a solution to your customer's needs and problems. By now, you should be able to give him or her valid reasons why they should buy your product or service.
The implementation stage represents an execution of the actual sales agreement and the delivery of the promised solution to your clients. However, the closing of a sale should not mean the end of your interaction with your customers.
Many products require after service and support. No product manager can neglect this stage of the sale cycle, as it opens up the way to build up a good reputation for your company and to close more sales with the same customers. Moreover, showing your support, you may offer to send them informational collaterals or newsletters. It will develop your relationships with those customers and help you close more sales with them.
Finally, there comes thereferences and referrals stage. It is when your consumers direct you to their friends and relatives as to the prospective customers and allow you to mention them as a reference. This sale stage can bring you even more income and profits than all the previous ones.
Those were some hints on what product managers should know and understand for executing their management in order to work well.