Manufacturers of complex technical products often believe that Marketing is synomymous with marketing communications. This includes producing sales literature, organizing trade fairs and publishing advertisements in the specialized press. However, with this thinking, companies only leverage a tiny part of Marketing´s full potential, because Marketing is more than advertising!
In turbulent markets, a superior business strategy is the key to long-term success. Cost cutting and process optimization are necessary, but they are not sufficient for a company to remain competitive in the long term.
In a global world, International Product Management plays a key role. Products need to be adapted to the individual requirements of different markets and have to be sold locally. As intrapreneurs, product managers coordinate the international product development process and support their local partners with the introduction and marketing of new offerings.
Many companies today are facing increasing price pressure and are looking for new ways to boost their profits. The prevailing view is that customers buy ex- clusively based on price and that they hardly appreciate any added value
Companies which are confronted with rising costs often offer an inflated portfolio of products and services, many of which are neither profitable nor competitive. These organizations can be compared to a growing tree which develops an increasingly complex structure of twigs and branches. To make sure that the tree survives in the long term, it has to be pruned and reshaped regularly.