THE COMPANY

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POSITION OVERVIEW

The Senior Product Manager is responsible for developing and optimizing an offering portfolio strategy based on customer insights, competitive and market intelligence, and executing that strategy to optimize the offerings, market position, organic growth, and financial return of the product portfolio across the product lifecycle. Offering Managers work closely with cross-functional departments, such as engineering/R&D, manufacturing/sourcing or software development, internal sales and field sales, marketing, as well as Honeywell senior executives to maximize the growth, development and return on investment of the organization’s product portfolio today and in the future.

The Senior Product Manager will manage the Business Line’s offerings. They should have demonstrated advanced skill levels across all of the below competencies and will be expected to coach and manage offering managers performing their primary responsibilities and become more autonomous based on demonstrated skills and abilities. They are expected to provide strong cross-functional influence.

RESPONSIBILITIES

Market Research & Competitive Landscape

• Understand big-picture market drivers, challenges, competitors, and overall business environment.
• Identify critical gaps and execute primary/secondary research to address or leverage the Strategic Marketing Team to do so.
• Calculate the maximum potential market size (Total Addressable Market – TAM) with help of the Strategic Marketing Team, evaluate the solution for commercial viability, and calculate Share of Demand (SOD). Continually assess market traction and competitiveness to re-evaluate New Product Introductions (NPI), pricing, or end-of-life (EOL) actions.

Voice of Customer & Segmentation

• Able to conduct both VOC and Observational VOC (OVOC) by spending time with customers.
• Perform continuous discovery to identify and articulate the high value problems customers have, and the linkage of those problems to how customers make money.
• Connect key customer stakeholders and what our offerings do for them, and which needs drive purchase decisions.
• Evaluate sources of disruption and understand the customer decision journey and how to utilize key personas to transition to each step.
• Perform customer market segmentation analysis

Value Proposition & Competitive Positioning

• Identify and state the target segment and problem to be solved in value propositions.
• Understand the value drivers and quantify them relative to the Next Best Alternative in value propositions.
• Perform competitive analysis of Honeywell products and services vs. the Next Best Alternatives.
• Work with Customer Marketing (CM) & Commercial Excellence Teams (CE) (i.e. Sales and Service) to communicate value propositions and their monetary values to the customer.

New Offering Management

• Translate customer and business needs into actionable product requirements.
• Provide customer marketing with appropriate information on offering, target segments and value propositions for effective sales collateral and campaigns.
• Ensure requirements of each participating function are accurately represented in the product plan and launch timeline.

Business Models & Pricing

• Define the appropriate value capture model (one-time sale, subscription, service, outcome-based, etc.) and pricing strategy based on appropriate value share relative to Next Best Alternative and ensure implementation by the commercial excellence team.
• Develop financial models for new and current offering, quantifying and balancing expected revenue against investment and ongoing fixed and variable costs to estimate projected margin, operating income, revenue, and return on investment.
• Develop a negotiation walk to close a sale for/with sales.
• Utilize a management operating system (MOS) to track pricing – PVA (price-volume analysis), etc.
• Demonstrate variable margin understanding and the linkage pricing has margin performance.

Portfolio Lifecycle Management

• Understand, articulate, and own the financial impact for portfolio decisions (both P&L & balance sheet) and ensure alignment with business strategy.
• Build and maintain a multi-year roadmap which includes a detailed 1-year plan and take action relative to changing market conditions, competitor actions, and new entrants.
• Effectively manage products across their lifecycle from demand planning of new offerings on ongoing basis through including managing End of Life (EoL).
• Apply 80/20 analysis to portfolio to define offerings that should be sunset and appropriate pricing during sun setting.

Go To Market Design

• Understand, design, and optimize routes to market based on segmentation, cost-to-serve, and cloud operations.
• Utilize synergies across Honeywell, Honeywell partners, and different 3rd parties. Co-drive simplification of product sales, subscriptions & renewals.