Brand and Product Managers are taking on increasingly important roles within the marketing industry.
Product Managers (or Brand Managers) are responsible for setting business objectives and marketing strategies, as well as defining profits, market shares, sales and turnover. They’re tasked with choosing appropriate prices and packaging, as well as planning advertising campaigns, means of communication and organising sales promotions. In essence, they’re essentially ‘product entrepreneurs,’ and their decisions affect both new and existing products.
Senior Product Managers usually coordinate a team of various Product/Brand Managers in order to establish key product features. Senior Product Managers define the ‘thing’ (i.e. the product itself), the ‘why’ (i.e. the concept and what makes it stand out) and the ‘when’ (i.e. the product launch). Product Managers are very familiar with their customers and the market, but above all the value of their product and what makes it unique.
What exactly does a Brand or Product Manager do? People in this particular role are responsible for all aspects of the brand and product. They work together with the production team, management, and the marketing, sales and communication departments.
In their capacity as Product Development Managers, Brand and Product Managers define brand identity and the qualities that allow said brand to meet consumer needs.
Individuals in this role are also tasked with performing qualitative and quantitative market analysis, studying consumer buying habits for similar products and analysing collected data. Based on the information they acquire, they then develop long-term brand development strategies and establish a marketing plan, in line with the company’s objectives.
But their responsibilities don’t end there. Brand (and Product) Managers must also take care of product image, dealing with logos, packaging, presentation and marketing plans in collaboration with the Marketing Manager. They must also handle all things communication and promotion-related, contributing to implementing communication and digital branding campaigns.
Product Managers have a number of important duties and tasks within a company. They deal with defining the brand, constructing the brand itself and identifying a target audience. They analyse the market, and pin point demand and supply and consumer habits, as well as their competitors’ preferences and activities.
Product Managers also implement efficient marketing plans, while optimising their budget. They monitor and evaluate marketing activities and measure profitability, customer satisfaction and whether or not objectives are reached. What’s more, Brand Managers also develop new strategies and measures to improve performance, identifying business opportunities and collaborating with the sales team in order to implement new sales strategies.
These days, Brand Managers benefit from an established and leading role in companies, especially in those operating in consumer electronics, pharmaceuticals, cosmetics, telephony, food and drink and the fashion sector. It’s no coincidence that a specialised role going by the name of ‘Fashion Product Manager’ was invented specifically for the fashion industry.
In order to become a Product Manager, you need to be familiar with the world of marketing and have specialised knowledge of business economics and communication. A number of cross-sectional skills are required in order to be successful in this particular role.
Product Managers must be familiar with business management, communication and marketing in order to develop strategies and achieve goals. People in this particular role must also be equipped with skills in product positioning and promotion, but above all in planning marketing strategies.
Useful skills for this role range from marketing skills to knowledge of primary IT tools. Excellent planning and analytical skills are required, as well as a strong focus on results, the ability to manage multiple tasks at once, negotiation skills, interpersonal skills and networking skills.
Brand and Product Manager roles are not only highly respected positions within themselves, they are also solid starting points for a career that offers excellent professional opportunities. These particular job roles are highly sought after by companies, which is why the salary is quite high. A Brand Manager at the beginning of his or her career can expect to earn about €150,000 a year, while those equipped with the necessary skills and experience can expect to earn up to €600,000 a year.
A high level of education is essential if you want to become a successful Brand or Product Manager, and we are offering two Master’s courses to interested students.
The school’s Full-Time Master’s in Business Management, with a focus on the Made in Italy sector is dedicated to managers who want to combine creativity with financial results, operating in sectors such as fashion, luxury goods, design and high-end vehicles. By enrolling in this course, you will be able to learn more about Italian excellence, alternating between theoretical and practical lessons. The Master’s is a 12-month course and is divided into two cycles consisting of group work,workshops, meetings with companies and a 600-hour internship. Teaching is accompanied by the implementation of three one-month company projects, and a longer programme that takes place over the course of six months.
Bologna Business School also offers a Full Time Master’s in Business Management with a focus on Retail Management. The course in question provides students with the necessary skills to work in companies, creating new business opportunities and product strategies. It represents a starting point for a career working for major sector leaders, from large sales companies to chain stores, to supermarkets and shops. The programme also includes an internship, various theoretical and practical lessons, projects and meetings.