‘Market Development’ is a (prerequisite) complementary management discipline to that of ‘Product Management’ (appearing adjacent to Product Management on the Matrix). The primary role of ‘Market Development’ is to focus on ‘market solutions’ and manage resultant offerings in alignment with business objectives and market deviations. Idiosyncrasies of the target market are typically defined and understood within the ‘Market Development’ activity and potentially could lead to further primary and secondary Market Segmentation.

There are many similarities in the way that customer / user ‘Solutions’ (a collective of Products) are managed and to a certain extent, can actually be considered a Product within their own right. The way the solution in question is marketed, is therefore specific to that particular target market. The benefits from a management point of view are many but include the ability to correctly position the solution within the market together with the alignment of a market price from a value proposition point of view.

The PMM fully embraces the concept of the Market Development Manager and as such the PM process and the collective of Tools and Processes contained within are immediately aligned and applicable.

We offer several training courses which the market development manager will find immensely useful. Please refer to PM Training or contact us for further information.

Portfolio Management

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