FREE IGNOU MMPM 003 Study Material Download The Indira Gandhi National Open University (IGNOU) offers a Master of Business Administration (MBA) program through distance learning. IGNOU free MMPM 003 Study Material Download.
FREE MMPM 003 Study Material Download Hardcopy : The study material for the program is provided to students in the form of self-learning study modules. The modules are designed to provide students with a comprehensive understanding of the various concepts and topics covered in the MBA Product and Brand Management program.
Course Code : MMPM 003
Programme Name : Product and Brand Management
FREE IGNOU MMPM 003 Study Material
Product management is the process of overseeing the development, marketing, and sales of a product. This includes conducting market research, identifying customer needs and preferences, developing a product strategy, creating a product roadmap, and working with cross-functional teams such as engineering, design, and marketing to bring the product to market. Product managers are responsible for the overall success of a product and are accountable for achieving revenue and profitability goals. They also make sure that the product is meeting customer needs and evolving to stay competitive in the market. In summary product management is the process of bringing a product from an idea to a profitable offering in the market.
New Product Development and Implementation
New product development (NPD) and implementation is the process of creating and bringing new products to market. This process typically includes several stages, such as:
- Idea generation: This is the initial stage where ideas for new products are generated. This can come from internal sources, such as employees or R&D teams, or external sources, such as customer feedback or market research.
- Concept development: Once an idea has been identified, it is further developed into a concept. This includes defining the target market, identifying key features and benefits, and creating a rough prototype or mockup of the product.
- Feasibility analysis: At this stage, a thorough analysis of the product’s potential is conducted. This includes evaluating technical feasibility, market potential, and the resources required to bring the product to market.
- Design and development: Once the product has been deemed feasible, the design and development stage begins. This includes creating detailed specifications, developing prototypes, and testing the product to ensure it meets quality standards.
- Testing and validation: Before launching the product, it is tested for any issues and validated by the target market.
- Launch and commercialization: Once the product is ready for launch, the product is marketed, and sales and distribution channels are set up to make it available to the target market.
The implementation of the new product includes the steps required to bring the product to market, such as creating a marketing plan, setting up production and distribution systems, and training sales and customer service teams. This process can take a few months to several years, depending on the complexity of the product and the resources available.
IGNOU MMPM 003 FREE Study Material
- Brand management is the process of creating, promoting, and maintaining a brand’s reputation and image. This involves developing a brand strategy, creating a brand identity, and implementing marketing campaigns to create brand awareness and loyalty.
- A key aspect of brand management is understanding the target market and identifying how the brand can meet the needs and preferences of that market. This includes researching competitors, analyzing consumer behavior, and developing a unique value proposition that sets the brand apart.
- Brand managers also develop marketing plans and campaigns to promote the brand and its products or services. This can include advertising, public relations, and sponsorships, as well as creating a strong online presence through social media and digital marketing.
- In addition, brand managers are also responsible for monitoring and analyzing the brand’s performance, and making adjustments as needed. This includes tracking sales, monitoring customer feedback, and conducting market research to identify areas for improvement.
- In summary, brand management is the process of creating a strong, positive image and reputation for a brand, and then maintaining and promoting that image to increase brand awareness and loyalty among the target market.
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