Product Manager, Service Plan and Warranty Products

Hitachi

Michigan City, IN
Permanent
Full-time

30 days ago

DescriptionSummary of the position:The product manager is tasked with achieving sustained growth, profitability, and customer satisfaction for their defined product line in support of the company’s overall strategy and goals. This involves working at both a strategic and tactical level across all relevant markets, channels, and regions.The incumbent will manage the lifecycle and roadmap of the assigned products across all facets of the organization; including but not limited to new product development/sustaining engineering, program management, sales, marketing, finance, supply chain, and manufacturing. Success in this role requires a comprehensive understanding of the market conditions and customer needs combined with a technical understanding of the features/benefits/functions of the products.Duties and responsibilities:Strategy and Market Management:

Define, develop, and launch a suite of service and warranty products to align with corporate strategy and initiatives
Conduct analysis to examine competing opportunities and initiatives and make trade-off decisions on which opportunities and initiatives to pursue as part of the overall service plan strategy
Track service plan’s aftermarket attach rate and manage against it; quantifying growth opportunities for Hitachi Global Air Power to participate to ensure sustainable, profitable growth by market
Develop business case volume, sales, and profitability targets in alignment with company expectations on Aftermarket attachment rate and service business growth
Prepare financial reports on service and warranty plan offerings
Keep leadership informed of progress towards meeting or exceeding expectations to the company’s plan
Gather and analyze market, customer, and competitor intelligence to identify and quantify opportunities for growth and margin expansion
Gather the voice of customers and insights of key stakeholders
Define value proposition/product differentiation that provides competitive advantage
Through on-going customer and marketplace interaction, define and document customer requirements for new products, as well as desired changes/enhancements for existing products
Develop List Pricing and discount strategy to maximize revenue and margin

Product Portfolio Management:

Lead/coordinate efforts to understand unmet customer needs for new product offerings/line extensions to drive aftermarket retention and service growth
Partner with multiple matrixed functions to develop and maintain product offering roadmap for new and updated prime equipment products
Lead the execution of the analytics required to determine recommended launch pricing and pricing policies for new or updated service plan offerings or extensions
Conduct regularly scheduled, customer-focused product line reviews of all product/service lines under management, enabling effective decisions related to product lifecycle management (including product rationalization)
Develop product lifecycle management roadmaps for products already in the market

Product Launch and Sales Enablement:

Lead regularly scheduled, customer-focused, and multigenerational reviews for product offerings to ensure sales success against market expectations
Develop List Pricing and discount strategy to maximize revenue and margin
Assist in the creation of service quoting material and literature for the service plan portfolio
Train direct and indirect sales teams in the process of selling service plan products and providing product support wherever required

Qualifications:Education:

Bachelor’s degree in Engineering, Business Administration, Marketing, or Equivalent field
MBA preferred

Professional experience:

5 – 10 years of relevant experience in industrial/manufacturing/capital equipment environment
5 – 7 years in related product management experience or equivalent required
Global product management experience a plus
Experience with operating in a matrixed organization including cross-departmental initiatives required
Experience in developing service plan, warranty, and intangible products
Experience with compressors and/or industrial equipment solutions a plus

Knowledge, Skills, & Abilities

Product strategy and product roadmap development
Business case development
Strategic product pricing
Product launch and product lifecycle management
Product marketing and channel strategy development
Indirect team management, cross functional team experience, matrix management experience
Divergent thinking, Courage, Creativity
Ability to effectively work remotely
Ability to travel up to 25%

Key behaviors:

Planning and organization
Influence and negotiation
Communication for understanding
Collaboration across boundaries
Customer insight and curiosity
Information analysis
Improvement and innovation mindset
Decision making and risk-taking
Business and financial acumen
Accountability for results

Direct reports:

The successful candidate is responsible for complying with Hitachi Global Air Power’s Code of Ethics and related policies. In performing the job, the incumbent shall take all steps necessary to comply with our safety rules and requirements and must actively support the organization's efforts to meet and exceed its goals of creating and maintaining a safe workplace.This description is to serve as a guide. It is intended to be flexible and will continue to evolve over time with business needs and demands and may be updated periodically and at the Company's discretion.Hitachi Global Air Power is an equal opportunity employer and will not discriminate based on race, religion, color, age, gender, sexual orientation, national origin, genetic information, veteran status, physical or mental disability, or other protected categories under applicable law, whether in recruitment, employment, promotion, transfer, compensation, or other conditions of employment.

Hitachi

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