This role is responsible for translating business and marketing objectives into strong product portfolio to meet the needs and preferences of customers and maximize profitability. This role leads the identification of emerging consumer trends and partner with Product Innovation to create a pipeline of delicious, good value for money, profitable, branded products that address key opportunities.
Key Accountabilities:
Product Portfolio Management
Understand competitors’ activities, customers’ need & preferences based on sales data and market research to proactively propose interventions, develop strong product portfolio to deliver sales target, increase customer satisfaction and loyalty
Develop product roadmap and menu management to ensure they align with the overall product strategy and brand positioning
Identify gaps in the market and develop new products to fill those gaps
Regularly review the menu, evaluate performance of individual products and the overall product mix to make decisions about which products to keep, which to replace, and which to add to optimize sales and profitability
Commercial
Build plans, calendars and budgets for product lines including product positioning, target audience identification, pricing strategies
Define a clear value proposition for products that differentiates them from competitors and resonates with the target audience to drive commercial success, achieve profitable product, category, and market share growth
Design product specific marketing campaigns, track and analyze product campaign effectiveness, utilizing metrics and analytics tools, and provide recommendations for continuous improvement
Cross-functional Collaboration
Build and maintain strong relationships with key stakeholders, including internal teams, external vendors, and industry partners, to support product marketing initiatives
Ensure Product Innovation team is briefed to deliver right variety of products that deliver to our product experience goals
Work closely with Supply Chain to ensure food and merchandise products provided by vendors are in accordance with the product strategy, quality standards, and customer expectations.
Collaborate with Supply Chain to provide insights on market trends, emerging ingredients or materials, and changes in customer preferences for sourcing decisions.
Consumer Market Understanding
Understand competitors' products, marketing strategies, target audience, positioning within the market to identify market gaps or opportunities
Stay abreast of industry trends, market dynamics, changes in consumer behavior and regulatory requirements related to food and merchandise and incorporate relevant insights into marketing strategies and product development efforts.
Job Requirement
07+ years of experience in multi-unit retail, restaurant, food & beverage industry, with an emphasis on tea&others products.
Experience across consumer insights, product marketing, product development, store marketing.
Proven track record of building strong product portfolio and driving business results
Product roadmap development and menu management
Ability to move products from ideation to commercialization
Knowledge of:
Profit & Loss Statements
Planning, Budgeting, Marketing ROI Analysis
Category Management, Portfolio Management
Pricing Management
Product Development, Insight Generation, Concept Development
