What is the definition of product service management?
Product service management (sometimes product/service management) is the process of shaping a company's offerings in response to demand stemming from market fluctuations. A product service manager (PSM) anticipates customer needs and then guides product development to meet them.
What are examples of product service management?
Product as a service is the concept of selling the services and outcomes a product can provide rather than the product itself.
What is product service management and why is it important?
Product management allows you to make your business more flexible about changing market conditions and customer demands. The bottom line is that you need to know where your company will be in the next few years and what its goals are, therefore, use product service management as a way of achieving these objectives
What does product management mean to you?
Indeed, the role itself means very different things in different organizations. Here is the most concise response we’ve come up with for the “What is product management?” question: Product management is the practice of strategically driving the development, market launch, and continual support and improvement of a company’s products.
Is software a product or a service?
For example, software can be considered both a product and a service. Traditionally, you would purchase a physical version of the program and install it on your computer — but today most software products are sold virtually. This approach uses a web-based delivery model and customers pay a recurring subscription fee to access the software.