Daimler Teves – Assistant Product Manager at ASB (New Zealand)
In some ways, Daimler might be considered a Segment manager as he works across the various banking products for the Youth Customer Segment.
We caught up a few weeks back and I asked him our questions on Product Management.
How would you describe Product Management?
Taking ownership of the product/service and being responsible for its marketability. This means that you take the product at a particular stage in its life and you create and realise strategies that will make the product more competitive in the market.
- Analysing and managing the actual product with regards to competition and consumer trends
- Communicating and promoting the product through channels and advertising mediums.
What are your main responsibilities as an Assistant Product Manager at ASB?
I help to look after the banks youth banking portfolio. I manage a part of the overall youth budget and deal with agencies, suppliers and internal departments (both head office and branch). I have to monitor the market and my product to achieve set business goals such as sales and quality growth.
What are the main issues facing Product Managers in general?
Increased competition and finding a way to differentiate and improve the product. For larger firms, it’s getting the product priority internally with regards to budget and focus.
I see you do both Marketing Communications and Product Management, how much time to do you allocate to each functions?
|Marketing Communications and Product Management differ in that product management is an everyday ongoing thing. We have to continually look for new opportunities and potential weaknesses with the product as well as how the product is positioned externally in the market. Good Marketing Communications is a result of good Product Management because the preparation of the product is already done – now we’re just trying to tell people that it’s the product that they want to buy. A communications campaign takes up lots of time up front, whereas Product Management takes up small bits of time over a longer period of time.
How do you find wearing ‘2 hats’?
I’ve found that it’s not so difficult wearing two hats as the Product Management hat is usually always ‘on’. We’re always subconsciously managing the product even though we may not be making any changes to it. The communications hat is on for a longer period of time, but only really in bursts.
Thanks for your time Daimler. I think you raise a really interesting point about Good Marketing Communications coming from good Product Management. Perhaps our readers might like to comment on this point.