Faculty Advisor: Lecturer in Management, Yale University

What is product management? 

Product management is an organizational function within a company dealing with new product development, business justification, planning, verification, forecasting, pricing, product launch, and marketing of products at all stages of the product life cycle.

Research Practicum Introduction

This program will introduce students to the principles of marketing and product management. We will discuss how firms like Google, Amazon, Nike, McDonalds, Porsche, BMW, Marvel/Disney, Coca-Cola, and Microsoft practice these principles today.  

Although the implementation of marketing and product management is undergoing a massive transformation from conventional to digital media, the underlying principles of consumer driven marketing remain essentially the same. We will discuss how great marketing and product management, including digital programming, is driven by a sound understanding of consumer segmentation and distinctive product benefits.

Students will also learn general and subject-specific research and academic writing methods used in universities and scholarly publications. Students will focus on individual topics and generate their own work products upon completion of the program.

Project Topics and Key Concepts

• The Basics of Brand and Product Management: Discuss the latest examples of marketing from Apple, Samsung, and Nike. Explore a case study of new product launch in the pet food category. Key Concepts and Tools: Identify well-marketed brands; P&G Brand Building Framework.  

• Category and Competitive Dynamics: Examine frameworks to understand the categories of fast food (McDonalds) and luxury automobiles (BMW).  Key Concepts and Tools: Harvard Business School Segmentation Model, Augmented Product Framework, Perceptual Map, Brand Positioning Tool.

• Segmentation and Targeting: Learn consumer targeting as practiced by Marvel/Disney and Porsche.  Key Concepts and Tools:  Brand Segmentation Strategy, Metrics of Brand Affinity

• Product and Innovation Strategy: New product strategies from Nike and Microsoft.  Key Concepts and Tools: Product Attribute Map, Long Tail Innovation Framework

• Pricing and Retail Strategy: Channel and pricing strategy across e-commerce and traditional retailers including Amazon and Walmart. Key Concepts and Tools:  Product Concept Tool, Pricing Strategy Matrix, 

• Marketing Communications in Digital and Traditional Media: Study commercials from Coca-Cola and Apple both on television and YouTube, and influencer advertising from beauty brands such as Drunk Elephant. Key Concepts and Tools: Brand equity pyramid, purchase funnel, agency briefing tool.

Program Detail

• Cohort Size: 3-5 students

• Workload: Around 4-5 hours per week (including class time and homework time)

• Target Students: 9-12th grade students interested in marketing, brand management, product design, social media promotion, pricing strategies, or entrepreneurship. This project is best for students with genuine curiosity in the subject, diligence, and initiative.

• Schedule: TBD. Meetings will take place for around one hour per week, with a weekly meeting day and time to be determined one week prior to the class start date.