Product Management Director

Overview

IDEAL INDUSTRIES, INC. has built a reputation for over a century by crafting iconic tools and practical technology required in aerospace, data communications, electrical, wire processing and construction. The global family of IDEAL brands includes IDEAL Electrical, Anderson Power, and Enatel.

 

A vibrant and dynamic company, IDEAL is best known for our wire connectors, the gold standard for making electrical connections around the world. Nearly every commercial jet is assembled using IDEAL wire strippers and, as part of the critical equipment on NASA missions, our tools even help NASA astronauts fly to the moon. Most important, our products benefit skilled tradespeople, who reach for IDEAL tools every day.

 

IDEAL is propelled by the concept of Building an IDEAL World. Our family-run business is committed to building ideal relationships with customers, employees, and communities by crafting some of our industry’s most innovative and trusted tools.

 

The Director of Product Management has a strategic role in the IDEAL Electrical Leadership team. This individual will lead the team of Product Managers and End User Experience Managers to expand our understanding and position of IDEAL in the marketplace. He/She/They will work cross-functionally with Engineering, Channel, Marketing, Sales, and Operations to ensure our products provide differentiated value to our end users and solve their most pressing needs. The team of Product Managers that he/she leads will be subject matter experts responsible for product lifecycle management, tracking changes in market share on an annual basis, and working with our Channel and Sales team to deliver on our annual plan.

Responsibilities

RESPONSIBILITIES INCLUDE:

 

Product Management:

• Lead all product lifecycle initiatives from ideation through commercialization and discontinuation  
• Develop and execute product portfolio strategy for the business to achieve growth goals
• Oversee market and competitor research and analyze data to inform the product strategy. 
• Lead the Product Management team, focusing on coaching for performance, conducting regular one on one(s), and hiring activities as needed.
• Collaborate with global IDEAL businesses to ensure strategic alignment.
• Ensure the team he/she leads is the subject matter expert in the competitive landscape (including the analysis and comparison of pricing, product features, performance, applications, and innovation) and develop strategies to differentiate IDEAL in the marketplace.
• Oversee market sizing and forecasting to continually improve internal knowledge and support better decision making
• Identify target audiences and value propositions for portfolio of products and align with marketing initiatives and communications
• Drive annual marketing plan and budget development to support product strategy partnering with marketing ops and digital marketing teams
• Work with Sales and IDEAL Electrical Leadership team to set and meet annual sales objectives.
• Work with the Channel Marketing team to develop and implement IDEAL Electric pricing strategies for all channels, reduce complexity and ensure proper execution.
• Track performance against established targets and develop timely corrective actions for items not meeting expectations.
• Support Channel and Sales leaders with Product Line Reviews (PLRs), and sales / customer training opportunities as needed.

 

New Product Development:

• Develop and execute the product strategy and annual new product roadmap
• Coach Product team members on best practices to ensure timely completion of required stage gates ensuring product launches are both completed on time and maximized in terms of revenue and profit generated
• Work with Engineering leaders to address roadblocks during development and ensure we have properly scoped a good mix of longer-term R&D projects.
• Lead development of research plans with Product team to clearly articulate end user pain points and establish Jobs to Be Done during NPD concepting.
• Develop commercialization strategies with the Product and Channel team to maximize new product opportunities
• Coordinate between the Product, Marketing Operations, and Digital Marketing teams to ensure launch plans are established, resourced, and executed

 

Leadership:

• Lead cross functional internal teams to develop and implement product strategy.
  • Promote a culture of continuous improvement, promoting a work environment that fosters creative thinking, innovation and rational risk-taking.
  • Balance immediate and long-term priorities to achieve critical objectives and long-term