Project Management:
Project management is the discipline of planning, organizing, and managing resources that would cause the successful completion of specific project goals and objectives. It is sometimes conflated with program management. Regardless, a program is technically a higher level construct. Any group of related and somehow interdependent projects is key to product management.
A project is a temporary attempt. With a defined start and finish, typically reserved to a specified date, these can be by funding or deliverables, undertaken to meet unique goals and objectives, usually to bring about beneficial change or added value. The temporary nature of projects stands in contrast to business as usual or operations, which are repetitive, permanent or semi-permanent functional work to produce products or repairs. Essentially, the management of these two systems is often found to be quite different, and as such requires the development of distinct technical skills and the adoption of separate management.
The primary challenge of project management is to achieve all of the project goals and objectives while honoring the preconceived project constraints. Typical constraints are scope, time, and budget. The next and more ambitious challenge requires the optimization of the allocation and integration of inputs necessary to meet pre-defined objectives. (Nokes)
Price Objective:
Pricing objectives grant direction to the entire pricing operation. The first step in pricing concerns acknowledgement of these objectives. Here are guidelines to follow when choosing which pricing objectives to consider:
The overall financial, marketing, and strategic objectives of the company;
The objectives of your product or brand;
Consumer price elasticity and price points; and the resources available.
Many of the more common pricing objectives focus on maximizing long-run profit or maximizing short-run profit; increasing sales or increasing sale volume / quantity; increasing monetary sales or expanding market shares; obtain a target rate of return on investment (ROI); obtain a target rate of return on sales; stabilize market or stabilize market price. An objective to stabilize price means that the marketing manager attempts to keep prices stable in the marketplace and to compete on non-price...
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