Product Manager (closed)
TxMQ is currently assisting their client in the search for a qualified Product Manager for their manufacturing facility in Western New York.
REPORTING TO: VP Product Engineering and Commercialization
- The company has chosen product leadership as its primary axis for competitive advantage in their market space. To support this objective the company has placed a focus on product innovation and leading value. The industry is both fashion driven and function driven. These trends would include such elements as style, color, texture, assortment, functionality, material & form and would be taken from other similar industries. In addition, the new product development projects must be positioned to meet the needs of the market, customers & consumers we service. The product management team will focus on gathering and understanding these specific needs and developing new product concepts & strategies to meet these needs. Then the team will compile accurate & timely needs assessments (design briefs) to guide each new product project.
- The Product Manager is a key member of the product leadership team. The Product Manager will provide strategic product, business and market direction for his/her market segment. The PM will develop effective new product concepts / platforms / architectures and communicates these requirements & strategies throughout the product development organization. This direction will be derived from the gathering of the necessary “front end” data. The resulting new products should differentiate the Company and contribute to our reputation as a product leader. The PM will be responsible for the overall management of their product portfolio. The PM will solicit & identify new product opportunities from the customers & sales teams; oversee the qualification/evaluation process used to establish the feasibility of each project.
- The PM will identify the critical current and potential new product “slots” in his/her market by Channel. He/she will direct the development of the appropriate products to successfully fill these “slots” The PM will also position these solutions for sales to the customer accounts and will provide technical sales support to the global account management teams.
- New Product - Manage the aggregate new product project portfolio for his/her market segment. Ensure new projects are financially attractive and have met the established new product development metrics. These metrics include but are not limited to minimum contribution margin, sales volume, and gross margin targets. The PM is responsible to communicate the new product objectives throughout the organization.
- Existing Product line – Responsible for the Life Cycle Management of the products within his/her market segment to ensure that all products are meeting the established product metrics. If products do not meet the established metrics (ie, contribution margin, sales $ per SKU, and/or manufacturing requirements), the products should be transitioned out efficiently. Due to the strategic nature of a particular product, some SKUs that do not meet these requirements may remain in the line if approved by the EVP of the department. The PM will be responsible for effectively communicating all product transitions throughout the organization.
Market Segment Expert
- Provide strategic product, business and market direction based upon customer feedback, market research, competitive analysis, product sales trends, and advertising data. Develop strategic plans, initiatives and roadmaps for all prioritized targets.
Key Customer/Target Customer Expert
- Provide expertise to the organization on unique characteristics and requirements of key customers as they relate to product assortments, sales metrics requirements and competitive analysis. Recommend appropriate solutions to these key customers/Channels and ensure that the key customers can successfully implement them.
Sales & Customer Liaison /Sales Support
- Help formulate & direct voice of the customer & other marketing activities to assist in idea clarification and refinement. Interacting with Customers, Marketing, Global Account Teams, Design, Product Development and Product Engineering to understand the market, customer needs, internal capabilities, competitor capabilities & consumers needs. Visit key customer accounts to present new product concepts & sell the Company solutions.
- Perform Marketplace Analysis on competitors regarding price points, features, materials
- Responsible for Marketing piece of new product phased process
- Maintain a record of large customer floor plan layouts to analyze product needs as well as other channels.
- Maintain competitive database regarding product strengths and weaknesses in relationship to current marketplace
- Maintain standards regarding product database for model #, function, family, FOB point
- Completion of Customer Presentation documents to be used at meetings with customers
- Interface with sales departments for product calendar planning
- Track product performance relative to sales life cycle in preparation for Red Listing and exit strategy
- Review Customer Power Point presentations for product selection and information
- Reporting tools for product analysis - CRM and Cognos
- Interface with Design department to review conceptual renderings prior to release into engineering and sample shop
- Completion of design briefs to set direction for projects
- Determine proper Target quote price points prior to drawing package submittal
Product Engineering Department
- Review final engineered product prior to implementation regarding final product specifications and assembly type
Accounting and Finance Department
- Submit pricing requests and program requirements for new customers and product meetings
- Interface with Finance Department to review final pricing for product regarding price points, program and FOB points
- Provide detailed product data necessary for customer set up sheets prior to shipment of product
- Answer product questions regarding materials, use limitations, etc....
- Review and approve product samples prior to customer presentations
- Direct sample shop in the disposal of samples after customer presentations
- Review Merchandising Data sheets and catalog sheets for product specifications and features prior to publication
- Assist with show and product layout and propping for trade shows such as High Point NC, Las Vegas World Market, and others
- Work with merchandising group to have materials created for new product presentations
- Work with copywriter to proof all catalog copy for Key accounts.
- Work with photo studio to complete abstract and environmental photography
- Work with MIS department to continue to increase the functionality and tracking ability of the CompanyPS System as well as CRM.
- Review NP check units for problems
- Review samples for approval regarding color, size, material
- Improve new product development process effectiveness. Increase new product success rate for specified Market Segment.
- Improve margin $ per unit shipped for specified Market Segment.
- Develop, maintain and communicate analysis of Market Segment and Key Customer product assortments, sales trends, competitive strengths & weaknesses, price point evaluation, competitive benchmark product, voice of the customer and relevant marketing data. Develop thorough understanding of the customer assortments & sales rates by slot. Ensure new products are well matched with these key slots & meet the financial objectives of both Company & the target customers.
- Create, communicate, & maintain the new product project list (Slot Analysis) to support Market Segment and Key Customer needs. Ensure new product opportunities and timeliness of the opportunity are identified on the Slot Analysis based upon the Key Customer’s requirements. (ie, planogram changes, catalog review deadlines, e-commerce site portfolio, advertising and promotional opportunities)
- Win a large percentage of the available opportunities within specified market segment each year securing Company’s position as a product leader. These products should be delivered on time and meet or exceed the customer & market requirements to drive financial success.
LIMITS OF AUTHORITY:
- Approves new product development projects ensuring they align with the company’s strategic direction, product leadership vision & financial objectives. Seeks VP, EVP, President & CEO approval for new product projects that do not meet the financial hurdles established & agreed upon.
- PM will act as the main point of contact between the organization and the key customer and the Global Account Manager for all product related issues.
- If product issues occur and consensus is not apparent, the PM will meet with design and sales to attempt to gain consensus. If this is not possible, the PM will get approval from the VP, EVP, President or CEO if necessary.
KEY INTERNAL TEAM AFFILIATIONS:
- Product Leadership Team (Key Member)
- Critical Dates Team (Key Member)
- Global Account Teams (Key Member)
- 4 year degree in; Marketing, Business or Engineering
- 3-5 years of experience in Product Line Management
- Willing to relocate to Western NY
- Motivated self starter, showing initiative with a collaborative nature
- Excellent verbal and written communication skills
- Able to Work in Microsoft Office Suite; Excel, Word, Power point
- Understanding of Retail, catalog and internet channel sales.
- Would like some experience with Furniture Industry
- This salaried EXEMPT position is based on individual’s qualifications with reference to the skills and abilities required as described above.
- This is a full-time, direct hire position that includes a competitive benefits package, paid holidays and vacation, personal time, 401(k), etc.
HOW TO APPLY:
- Interested and qualified candidates should submit a Word formatted resume, employment references, and salary history to email@example.com for immediate consideration.
- TxMQ would like to extend thanks to all applicants, however, only those that may qualify for the position will be contacted for a preliminary interview screening.
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