Product Management For Dummies

Chapter 15

Maximizing Your Product’s Revenue and Profits

IN THIS CHAPTER

Getting a handle on marketing fundamentals

Using forecasting to look ahead

Making your marketing plan the best it can be

Tracking marketing activities

Adjusting your plan to increase success

This chapter discusses the phase that your product is likely to stay in the longest: maximize. Many products in the mature phase of the four-phase product life cycle (see Chapter 3) stay there for years or even decades. Maximizing revenues requires working through all aspects of marketing to continually improve the message, marketing programs, pricing, channels, and possibly the product itself.

Marketing is a vast topic, and it’s covered in-depth in books such as Marketing For Dummies by Alexander Hiam (Wiley). In this chapter, we focus on the marketing knowledge and tools that allow you as a product manager to have an effective conversation with your sales and marketing colleagues. In the end, product management, marketing ...