Achieving Peak Performance in International Product Management
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.
Specific challenges arise for international product managers when new products are launched in emerging markets. In this case, either existing products are adapted to specific market requirements or completely new solutions are developed. A ´side effect´ of the second option is the so-called ´Reverse Innovation´. This means that new products are first developed for emerging markets and are subsequently launched in the company´s home market and other countries as well.
Peak performance in International Product Management rests on three pillars, says Hans Walter Fuchs.
- Product managers´ roles in the organization have to be clearly defined so that they can effectively perform their tasks.
- Product managers need high-level personal, professional and intercultural skills and they must be able to get their foreign colleagues´ and partners´ full commitment for their projects.
- Companies need a clearly-defined international product management process - including product innovation, market introduction, product relaunch and elimination.
Hans Walter Fuchs helps companies achieve excellence in all three areas and thereby dramatically increases their International Product Management´s performance.
International Product Managers are in charge of global product development and they support their local partners with the introduction and marketing of new offerings. The prerequisites for achieving peak performance are an effective organizational set-up, product managers´ high-level personal and professional skills and a clearly-defined International Product Management process.