Name: Rixi A.

Malayao

Definition of Product Management

Product management

-Is an organizational lifecycle function within a company dealing with the planning or
marketing of a product or products at all stages of the product lifecycle.

Product management (inbound focused) and product marketing (outbound focused)

are different yet complementary efforts with the objective of maximizing sales
revenues, market share, and profit margins. The role of product management spans
many activities from strategic to tactical and varies based on the organizational
structure of the company. Product management can be a function separate on its own
or a member of marketing or engineering.

While involved with the entire product lifecycle, product management's main focus is
on driving new product development. According to the Product Development and
Management Association (PDMA), superior and differentiated new products - ones
that deliver unique benefits and superior value to the customer - is the number one
driver of success and product profitability.

-An administrative discipline for the effective use of resources in on-schedule

production of the targeted number or quantity of end products that meet the specified
cost, performance, quality, and waste requirements.
 Different Colors and Their Meaning

• WHITE – White is associated with innocence, purity, peace and contentment.

It’s considered clean and sterile. It’s cool and refreshing. White can have a
calming, stabilizing influence.

• BLACK – Black is the ultimate power color. It suggests strength, potency,

authority, boldness, seriousness, stability and elegance. It’s distinguished and
classic, great for creating drama. Black has more weight than other colors. Too
much can be ominous.
• Gray or Silver – Gray can be associated with conservative qualities and
considered traditional. Business-wise, it symbolizes high tech and suggests
authority, practicality, earnestness and creativity.
• GOLD – Gold suggests wealth. It’s considered to be very classy.
• BLUE – Blue is the favorite color of many businesses. It suggests sanctuary
and fiscal responsibility. It inspires confidence. It is the most popular and
second most powerful color. Darker shades are authoritative. Dark and bright
blues represent trust, security, faithfulness and dignity. Paler shades can imply
freshness and cleanliness, although they can imply weakness.
• RED – Red stimulates many kinds of appetites. Red commands attention,
alerts us and creates a sense of urgency. It’s considered the sexiest of all
colors. Red symbolizes heat, fire, blood, love, warmth, power, excitement,
energy, strength, passion, vitality, risk, danger and aggressiveness.
Financially, it’s associated with debt.
• YELLOW – Yellow is the sunshine hue and is a spiritual color. Yellow
represents a warning, but it can also bring happiness and warmth. The most
preferred yellows are the creamy and warm ones. Bright yellow can be
irritable to the eye in large quantities. Yellow speeds metabolism. It’s often
used to highlight or draw attention.
• GREEN – People associate green with the color of money, as well as nature.
Olive greens are associated with health and freshness — a good choice for
environmental concerns. Green suggests fertility, freedom, healing and
tranquility. Green represents jealousy. Businesses use it to communicate status
and wealth. Green is a calming, refreshing color that is very easy on the eyes.
• BROWN – Brown is associated with nature and the earth. Dark browns
represent wood or leather. Brown and shades of cream are associated with
warmth and coziness. Brown suggests richness, politeness, helpfulness and
effectiveness. It is solid, credible, mature and reliable. Light brown implies
genuineness.
• ORANGE – Orange is associated with vibrancy and the tropics, as well as
warmth and contentment. It can instill a sense of fun and excitement. It
implies health. It suggests pleasure, cheer, endurance, generosity and
ambition. It can make an expensive product seem more affordable. It appeals
to a wide range of people, both male and female.
• PINK – Pink is considered to be a very feminine color. It represents
gentleness, romance, well being and innocence.
• PURPLE – Purple represents royalty and luxury. In darker shades, it’s
considered a wealthy color. It suggests spirituality and sophistication. In paler
shades, such as lavender, it’s feminine and romantic.
 Different Meanings of a Product

The noun product is defined as a "thing produced by labor or effort" or the "result of
an act or a process" Since 1575, the word "product" has referred to anything
produced. Since 1695, the word has referred to "thing or things produced". The
economic or commercial meaning of product was first used by political economist
Adam Smith.

In marketing, a product is anything that can be offered to a market that might satisfy
a want or need.

A product is something that is made (produced) and often something that is sold.

A product is a good or service that most closely meets the requirements of a

particular market or segment and yield enough profit to justify its continued existence.

The product aspects of marketing deal with the specifications of the actual goods or
services, and how it relates to the end-user's needs and wants. The scope of a product
generally includes supporting elements such as warranties, guarantees, and support.