Question

Many large, packaged goods marketers like Procter & Gamble, Kraft, and Pillsbury have used the product manager (or brand manager) system of marketing organization and implementation. Which of the following is the key advantage of this system?
A. Product managers have relatively little authority
B. Product managers are short-term in their orientation
C. Product managers have direct responsibility for research and development of new products
D. Product managers can assume profit-and-loss responsibility for the performance of the product line
E. Product managers have line responsibility over sales managers

Answer 1

Answer:

C. Product managers have direct responsibility for research and development of new products

Explanation:

The position of Product manager is an all-encompassing role. He is tasked with the job of ensuring the members of the team are up and doing; he ensures each member of the team supplies considerable input to the end that the team effort can be evidently seen. The Product manager is also saddled with the responsibility of ensuring swift communication amidst all parties; he splits complex tasks into easily understandable processes. He sets the target and goal for each team member; he is the one who accesses and optimizes team members' performances.

Despite and inspite of these varying responsibilities, the biggest and most vital task of the Product manager is to research products, assess the market (customers), create services/products which are innovative and solve critical problems thereby, adding value to the customer base. The more information he has about the market and need of the customers, the better he is able to tailor the products and services rendered to address those needs. Overall, the Product manager due to his extensive involvement and oversight, he ensures that the chances of product failure is significantly reduced.

In the light of the explanation above, Option C. (Product managers have direct responsibility for research and development of new products) is the correct answer.