Product Manager

Job Summary

The Product Manager is responsible for all marketing-related aspects of the products within the assigned product portfolio and/or therapeutic area(s) for Terumo Interventional Systems (TIS). This includes developing and implementing effective marketing strategies and tactics to ensure that products in the assigned portfolio achieve revenue and operating profit targets. 

Keys to success for the Product Manager are the ability to build successful partnerships with the sales force, develop relationships with key opinion leaders and to modify strategies and tactics when necessary based on voice of customer and emerging trends.  Successfully developing and cultivating relationships throughout the Shared Services group that support the business is critical to success.  Through these partnerships, the Product Manager is responsible for ensuring uninterrupted product availability, high quality and proper promotional efforts and ensuring products meet all product performance-related characteristics. 
This role may be responsible for both downstream and upstream activities. Responsible for traditional marketing deliverables such as business plans, pricing, product positioning, promotional strategies, life cycle plans and advising on product improvements and new product needs. Traditional downstream activities include product launches, sales training & education, developing go to market strategies and generally building and executing product commercialization plans. Collaborate with training partner to support the development of sales education with updated materials and communicates on an ongoing basis. The position is also responsible for identifying winning strategies and products and is responsible for partnering with R&D and New Business Development (NBD) on projects that fit strategically within the assigned portfolio. 
 

Job Details/Responsibilities

• Lead the development of annual marketing/brand plans for designated product portfolio supported by adequate market insights and customer feedback, with minimal supervision.
• Prepare and partner with demand planning for regular product forecasts based on customer information and market analysis. Analyze and regularly report on product usage trends.
• Secure alignment with the supply chain team on supply and inventory strategies.
• Perform periodic business reviews of product portfolio, analyzing key internal/external data to understand the health of the business and market/competitive landscape, and processes data into actionable business insights.
• Pursue product line extensions, labeling revisions, clinical studies and any other activities which would ultimately build the value of the product line and maximize product line earnings.
• Contribute to portfolio strategy and product life cycle management activities in partnership with cross-functional partners to support organic/inorganic growth market opportunities, post market surveillance, etc.
• Routinely communicate with the sales force regarding product updates and availability, competitive activity, sales positioning, best practices, and new product development updates.
• Develop rationale and make recommendations to management on pricing, manufacturing, packaging, distribution, promotion, market research, regulatory, legal and any issue which impacts product responsibility.
• Develop and expand clinical and technical knowledge necessary for product line management and customer interaction as the procedural SME.
• Remain abreast of the market, the competition and the environment.  Act as an information resource to all functional areas. Identify key competitors, understand and analyze the competitive market environment and act to position TIS as the preferred product supplier.
• Identify and propose new projects which will enhance the performance of the product line, broaden the offerings and maximize the product line earnings.
• Partner with internal cross-functional teams to create content and messaging for promotions through various distribution channels (email, tradeshows and digital media) and maintain library of sales and marketing materials. 
• Build and cultivate relationships with key customers to achieve key business objectives which may support downstream and upstream activities.
• As required, contribute to the definition of marketing requirements to champion through the development process.
• Demonstrate a commitment to patient safety and product quality by maintaining compliance with all TMC Quality Systems requirements. This includes but is not limited to the prompt recognition and forwarding of customer complaints (i.e., adverse events, product performance reports, etc.) to Quality Assurance (QA), and by ensuring all promotional messaging (i.e. branding strategies, product claims, etc.) and materials (i.e. literature) discussed or presented to customers are clinically accurate and adhere to AdvaMed guidelines and Terumo’s policy on Interactions with Healthcare Professionals.  Maintain strong knowledge of and adherence to regulations regarding promotional material content and control. Follow procedures for good clinical practices and Design Control when participating in new product development and clinical activities. Fully adhere to all applicable FDA regulations, international guidelines and Terumo’s policies at all times.
• Perform other job-related duties as assigned.

Working Conditions/Physical Requirements

• This position exists in an office environment. Approximately 30% overnight travel is required including occasional weekend travel. 
• Occasional entry to hospitals and other medical facilities is required. Many facilities have instituted vendor credentialing policies which require vendors to meet defined training, background check and proof of immunization requirements as a condition of entry. Terumo Associates entering these facilities are required to abide by these credentialing requirements. 
• When visiting hospitals and other medical facilities, must be able to gain access to and work in the IR suite, Cath lab and operating room. Entry into these areas requires an ability to wear appropriate gowning, stand for long periods of time, comply with hospital policy/protocol and be aware of potential biohazards such as blood borne pathogens.  
   

Knowledge, Skills and Abilities (KSA)

• Requires a high level of analytical skills (including ability to create accurate forecasts), an ability to think strategically and translate into effective tactics. Must be able to use these skills to solve complex problems. 
• Must have strong clinical acumen. 
• Demonstrated track record of managing products including meeting revenue and profit objectives.
• Ability to understand complex medical procedures and engage in in-depth technical conversations with physicians, staff and key opinion leaders regarding medical procedures and proper product usage. Is seen by physicians, staff and others as knowledgeable and credible.  
• Proficient in Microsoft Office applications (Word, Excel, PowerPoint, Outlook and Project) and I-Pad navigation. 
• Ability to work on multiple projects simultaneously and be flexible enough to change priorities with short notice when necessary. 
• Must possess excellent communication / interpersonal skills and an ability to relate well with Territory Managers, Region Managers, and customers on the phone and in person. 
• Must be able to work independently with minimal direction and make informed business decisions. 
• Must exhibit strong teamwork and be adapt at working cross-functionally. 

Qualifications/ Background Experiences

• Requires a Bachelor’s degree, preferably in marketing, business, biological/clinical science, or engineering; or equivalent combination of education and years of experience. 
• Requires a minimum of 5 years relevant business experience with a minimum of 3 years of medical device marketing, engineering, sales or clinical. 
• Demonstrated track record of managing products including meeting revenue and profit objectives.