The key words here are digitization
Start immediately! Product Management Challenges Challenges in product management arise from the coordination tasks of internal processes on the one hand, and from changing external environmental conditions on the other hand, such as dynamic pricing changes in the demand structure of the market. Because these sometimes have a direct impact on business development, they also ultimately trigger changes in the company's structure and process organization.The following points summarize the main challenges of product management: Markets that are Phone Number List largely saturated with consumption, high market density, and high substitution potential make it difficult to implement profitable product innovations in global competition. Demand-oriented functionality, high demands on design and the desire for personalization increase innovation and cost pressures. Health issues related to sustainability and environmental compatibility are also of increasing concern.
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Particularly in the food, cosmetics and healthcare sectors, product management must minimize possible intolerances, such as allergies. Existing value chains are being eroded and must be rethought and implemented in the context of technological advancements, automation, gamification and the use of so-called artificial intelligence. Socio-economic and socio-political developments constantly create new framework conditions at local and regional as well as national and global scales. At this point, product management requires a holistic vision. For example, events and developments that influence consumer behavior and consumer choice needs must be considered in planning and management.
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