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Product management is the business process of planning, developing, launching, and managing a product or service. It includes the entire lifecycle of a product, from ideation to development to go to market .
Hence the need for product management as a core business function in software companies. Hardware and physical product companies may also need software product management, since software and digital systems are often part of the delivery, such as when providing operating systems, or supporting the physical product or software embedded in a device.
The core product is defined as the benefit that the product brings to the customer. The actual product refers to the tangible object and relates to the physical quality and the design. [ 4 ] The augmented product consists of the measures taken to help the consumer put the actual product to use. [ 1 ]
The core of PLM (product lifecycle management) is the creation and central management of all product data and the technology used to access this information and knowledge. PLM as a discipline emerged from tools such as CAD , CAM and PDM , but can be viewed as the integration of these tools with methods, people and the processes through all ...
A management system is a set of policies, processes and procedures used by an organization to ensure that it can fulfill the tasks required to achieve its objectives. [1] These objectives cover many aspects of the organization's operations (including product quality, worker management, safe operation, client relationships, regulatory ...
A combination of a primary product with additional goods and services defines the total product to the customer. [1] In other words, a CBP is a combination of services and goods that adds value to the primary product acquired by the customer. The primary product is the "core" offering that attracts customers and satisfies their basic needs ...
Quality management ensures that an organization, product or service consistently functions well. It has four main components: quality planning, quality assurance, quality control, and quality improvement. [1] Quality management is focused both on product and service quality and the means to achieve it.
A management information system (MIS) is an information system [1] used for decision-making, and for the coordination, control, analysis, and visualization of information in an organization. The study of the management information systems involves people, processes and technology in an organizational context.
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