IGNOU MS-63 - Product Management

1. (a) What is a Product? Discuss the classification of products with suitable examples. Explain the major areas of responsibilities of product management function. (b) Discuss the constituents of product planning system. Explain the matrix approach to product planning. 2. (a) Explain the concept and logic behind product line decisions. Indentify and elaborate the features that companies pursue line extensions as a tool for business development. (b) Explain the concept of portfolio. What is BCG growth share matrix? Explain the methodology of constructing BCG matrix. 3. (a) Distinguish between brand name and branding. Discuss the various branding policy decisions available to the marketer. Cite suitable examples for each of these brand policy options. (b) Explain the various options available for a firm in setting responsibility for a new product development. Highlight the advantage and disadvantages for each of these options. 4. (a) Discuss the major concept generation methods that you are familiar with. Analyse the caveats of concept generation in terms of market acceptance of the product. (b) Is product launching a necessity? If yes or no, justify with an example. What are the steps involved in the launch of a new product in the market.

1. (a) What constitute a product? Discuss the role and scope of product management function in an organization. Highlight the key possible responsibilities of a product manager in a automobile company. (b) Explain the term product line and the bases for product line extensions by taking suitable example from an Indian FMCG company of your choice.  2. (a) Discuss the various stages involved in Product Life Cycle (PLC). What decisions are to be considered for putting PLC concept into operation? Elaborate. (b) Explain the concept of pricing and its relationship with other elements of marketing mix. Discuss the various types of pricing methods available to the marketers.  3. (a) Distinguish Product from a brand. Discuss the strategic relevance of branding with an example. (b) What do you understand by the term positioning and its importance for the marketer? Discuss the various positioning strategies available for a marketer.  4. (a) List out and discuss the various reasons for the growing importance of packaging in today’s market environment. (You may access secondary data/internet sources). Discuss the major functions of packaging. (b) Identify the factors that determine the decision to offer new product by firm. Illustrate.