Vice President of Product Management

Pay: Salary and bonus

Job type: Product management, product development

Req'd education: Minimum Bachelors Degree, MBA preferred

 

As Vice President of Product Management, you will guide a team that is charged with building and managing a product line that extends the reach of the Midwest Center’s critically acclaimed products and programs for battling stress, anxiety, and depression.  The Midwest Center has already touched almost 1 million consumers with its life-changing products, and the VP of Product Management’s job will be to 1) build products that extend the lifetime value of customers already part of the Midwest family, 2) build products that increase the total pool of customers that the Midwest Center touches, and 3) extend the impact of The Midwest Center’s unique programs and products to address the broader set of life-challenges faced by our customers.

 

You will build products that expound upon existing ideas, as well as develop new ideas based on industry research, analysis of existing data, and regular contact with customers. You must possess a unique blend of business savvy, a big-picture vision, sensitivity to the unique challenges of our customers, and the drive to make that vision a reality. You must enjoy spending time in the market to understand customers’ problems, and find innovative solutions for the broader market. A subset of the functions you will have ownership over includes:

  Defining new products Gathering market requirements Building product roadmaps Product lifecycle considerations Product differentiation Product positioning and outbound messaging Promoting the product externally with press, customers, and partners Monitoring the competition Keeping abreast of trends and developments in the self-help and wellness segments Monitoring the status of Midwest Center products in market and updating the positioning and content of those products, as appropriate

 

As a member of the executive team, you must be able to communicate with all areas of the company. You will work with the creative department to generate content and messaging. You will work with the sales and telemarketing departments to define the go-to-market strategy, helping them understand the product positioning, key benefits, and target customer. You will work directly with the key media personalities of the company in shaping new content. You will also serve as the internal and external evangelist for new product offerings, occasionally working with the sales channel and key customers.

 

You will have a full plate from Day One and be asked to perform both strategic and tactical functions. Expect to get your hands dirty in the day-to-day fight, but also expect to enjoy being a critical part of all big-picture successes at the Company.

 

More About the Company:

 

The Midwest Center is the leading provider of self-care and coaching programs for people who suffer from stress, anxiety, and depression. During its 20-year history, Midwest has sold over 900,000 of its Attacking Anxiety & Depression programs to consumers in addition to the best-selling books, From Panic to Power and Life Without Limits, written by Lucinda Bassett, Midwest's founder. The Company has many exciting product growth opportunities that the VPof Product Management will be an essential to managing and bringing to market.

 

KEY RESPONSIBILITIES

  Managing the entire product line lifecycle from strategic planning to tactical activities. Specifying market requirements for current and future products by conducting market research supported by on-going visits to customers and non-customers. Driving a solution set across development teams (primarily Creative, Business Development, and Sales) through market requirements, product contract, and positioning. Developing and implementing a company-wide go-to-market plan, working with all departments to execute. Analyzing potential partner relationships for the product.

 

REQUIREMENTS

  7+ years of product management experience. Knowledgeable in consumer packaged goods and, preferably, media, entertainment, and/or self-help products. Experience in direct response marketing preferred. Bachelor’s Degree required, MBA strongly preferred. Experience in on-line delivery of products preferred. Background or experience in psychology, therapy, nutraceuticals, and/or healthcare fields preferred This position requires light travel to customer and non-customer sites in North America (~5%).

 

Detailed job functions

 

The VP of Product Management will be responsible for driving all of the following activities:

  Idea Generation: Develop ideas for new products from market and consumer trends, company's creative department, competitors, focus groups, employees, salespeople, trade shows, or ethnographic discovery methods.

  Idea Screening: Eliminate unsound concepts prior to devoting resources to them, by asking questions such as: Will the customer in the target market benefit from the product? What is the size and growth forecasts of the market segment/target market? What is the current or expected competitive pressure for the product idea? What are the industry sales and market trends the product idea is based on? What is the preferred channel and offer with which to deliver this new product? Is it technically feasible to manufacture and deliver the product? Will the product be profitable when manufactured and delivered to the customer at the target price? Does the product further the brand strategy and image of the company?

  Concept Development and Testing: Develop the marketing and product details by answering questions such as:  Who is the target market and the decision maker in the purchasing process? What product features must the product incorporate? What benefits will the product provide? How will consumers react to the product? How will the product be produced most cost effectively? Prove feasibility through rapid concept development What will it cost to produce and deliver the product? Follow this by testing the concept by asking a sample of prospective customers what they think of the idea.

Business Analysis

Estimate likely selling price based upon competition and customer feedback Estimate sales volume based upon size of market, channel delivery method, and target take-rates Estimate profitability and breakeven point



Beta Testing and Market Testing Produce a physical prototype or mock-up Test the product (look, feel, message, packaging) in typical usage situations Conduct focus group customer interviews or introduce at trade show Make adjustments where necessary Produce an initial run of the product and sell it in a test market area to determine customer acceptance



Technical Implementation New program initiation Resource estimation Requirement publication Department scheduling Supplier collaboration Logistics plan Resource plan publication Program review and monitoring Contingencies - what-if planning



Commercialization  Launch the product Produce and place advertisements and other promotions Fill the distribution pipeline with product Monitor success of product and make changes to product and/or go-to-market strategy, as appropriate