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Sr Product Manager - Vehicle Dynamics Testing

Company: Illinois Tool Works
Location: Eden Prairie
Posted on: November 25, 2022

Job Description:

MTS is a leading global supplier of high-performance testing and simulation systems. Our operations span across the Americas, Europe and Asia. We deliver technology and engineering expertise to produce the highest quality and most innovative solutions for our customers.

Purpose: Advance technology through innovative Test and Simulation solutions

Aspiration: Create a better, safer, more sustainable world.

Why work at MTS

Our employees are passionate about driving innovation, creating high quality solutions, and providing an excellent customer experience.

MTS is a global company with smart people, great customers, and innovative products

MTS has an opening for a Sr. Product Manager, who has worked in the testing of automotive design. Will have an expertise in product management for incremental growth of product line. This is a cross functional role.

Manage assigned products to ensure the global success over their entire life cycle. Ensure the products meet market needs now and, in the future, and by maximizing customer satisfaction while achieving the product goals for growth, profitability, quality, and market share, consistent with business unit's objectives and strategies.

Major Areas of Responsibilities:

1. Direct product development strategy making decisions on product development, solutions, aftermarket, and service offerings that meet market needs. Create new product development business cases and justifications. Define key product benefits and value propositions. Lead the cross-functional creation of the annual product development (R&D) and maintenance (CE) plans, proposals, and budgets. Initiate R&D projects and lead these projects in collaboration with assigned engineers through the MTS development process.

2. Define market requirements for the product by obtaining customer input, performing competitive analysis, and determining market pricing. Identify product development targets including market pricing, cost, performance, quality, lead time, serviceability, ability to upgrade, and manufacturability. Set product performance, cost, and lead time targets to meet customer expectations. Collaborate with Engineering to develop technical specifications and estimates. Determine the opportunity and need for patent, copyright and trade name considerations, and coordinate with Engineering, Marketing Services and Legal to protect MTS' intellectual property.

3. Create and maintain product plans and implement them according to defined product line roadmaps and identified aftermarket strategies over the entire life cycle. Manage product line performance to achieve business objectives of growth and profitability. Manage the trade-offs between product cost, performance, and quality to optimize the financial potential of the product in the marketplace considering customer requirements, time to market, and value. Create and maintain product forecasts. Define expectations and requirements for customer support and customer service. Collaborate with service operations to implement global service strategy for product line.

4. Define product launch strategy and set objectives for product launch. Work with Marketing Services on execution of plans and decisions. Develop and conduct sales readiness training to prepare channel to support new product introduction and meet launch objectives. Measure product launch effectiveness. Define product messaging including target customers and applications, product positioning, and competitive environment. Work with Marketing Services and Subject Matter Experts to create sales tools (brochures, product specifications, bid specs, specific feature descriptions, application briefs and customer testimonials) to support sales opportunities.

5. Develop and implement pricing for product offerings. Develop promotional pricing strategies. Configure internal pricing tools and systems. Manage pricing to achieve business objectives over the entire life cycle. Monitor product price performance.

6. Respond to and solve customer product problems. Champion customer quality problems. Monitor customer experiences and advocate on their behalf. Identify and document global trends in customer feedback and prioritize action plans. Identify role for key customers in product development and Voice of Customer to engage influential thought leaders and develop relationships.

7. Enable Selling by identifying target markets and customer types to focus their efforts on optimizing return on sales investment. Collaborate with Selling on creation of sales strategy for key pursuits. Support lead generation activities and programs. Develop sales tools and content for outbound marketing efforts. Support Marketing Services on execution of marketing plans.

8. Support strategic planning, market planning and execution. Provide perspective on key market trends to support annual strategic planning activity. Identify alignment of product strategy to market competitive strategy. Support Market Management in creation of market plan and prioritize product investments to match market plan objectives.

9. Continuously evaluate the competitive landscape to define features/benefits and unique competitive advantages of the assigned products.

10. Participate in technical conferences, society meetings, trade shows and standards meetings to develop insight to into the use of assigned products by the customer base. Submit and present technical papers that help position specific product features of significant importance to the customer base.

11. Participate as a first-tier technical resource in specific sales opportunities as request by sales to improve our probability of winning specific orders.

Keywords: Illinois Tool Works, Eden Prairie , Sr Product Manager - Vehicle Dynamics Testing, Executive , Eden Prairie, Minnesota

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