The Product Area Manager is a pivotal position at Monster with global reach. The PAM has the unique opportunity to directly and positively impact Monster’s sales and profit goals by leading the development of innovative, premium, high performance products; that support the company’s goal to leverage the power of the Monster brand and the strengths of our relationships with our channel partners.
The PAM acts as the CEO of his/her product areas/categories. The PAM is an entrepreneur, innovator, product category expert, marketer, sales person, project manager, business person, and a leader. The PAM is expected to have a complete understanding of retail including big box retail channels, independent retailers, specialized channels, e-commerce, distributors, sales and marketing strategies
The PAM is accountable for leading the development of products by getting the right products, at the right price, to market on-time, with the proper sell-in and sell-thru support, and is responsible for the overall product category/area profitability success worldwide.
The PAM will:
Product Category Profitability:
Be accountable for the overall success of his/her product category or area worldwide, which will be measured by revenue growth and profitability.
Product Strategy, Ideation & Business Case:
Drive and be accountable for developing, defining, and articulating the strategic product direction with Noel and senior management for his/her product category/area. This includes working with Noel and Monster’s technologists on ideation, identifying trends and new product opportunities, market research, competitive analysis, technology research, and developing the business case, and getting management approval.
Create, manage, and consistently update a category business plan consisting of an evergreen product roadmap, a product lifecycle management plan, and a market and technology assessment.
Drive and be accountable for the development and launch of products from product ideation through the product end of life. This includes, but is not limited to, driving the ideation of new products, development of the product strategy, setting launch dates, setting pricing with the Sales team and management, defining the product attributes and positioning, managing relationships with technology and license partners, creating the BOM, packaging development, launch plan, supporting the sell-in, sell-through, directing value-engineering, managing inventory levels, forecasting, planning, and managing the product lifecycle through end of life.
Sell-in & Sell-Thru Support
Partner with Sales, Marketing and Sell-Thru team (“Training”) to ensure the development of successful sell-in and sell-through strategies Drive and be accountable for supporting the sell-in and sell-through effort by directing the creation of spins and messaging, sell-in slides, mix, price sheets and materials, planograms, NPA’s, point of purchase displays, and collaborate with the Sell-Thru team on the creation of dealer trainings. The PAM will meet and communicate with the Sell-in and Sell-thru teams regularly to achieve this.
Vendor Selection & Costing
Drive and be accountable for managing the supplier relationship. The PAM, in collaboration with the Purchasing department, is accountable for sourcing products, which includes the “make vs. buy” analysis, selecting and qualifying suppliers, negotiating initial pricing (Phase 1), and value engineering product. The PAM will finalize the standard cost of the product with Purchasing and Finance and conduct periodic pricing reviews. The PAM will authorize (per company purchase authorization policy) and ensure purchase orders are placed. The PAM will ensure and oversee that the Commodity Specialist is driving down down PPV (Phase 2) and working to value engineer the product by materials substitution, re-engineering, and seeking production and manufacturing efficiencies. The PAM will ensure that the second sourcing process is adhered to, for each of his/her product areas/categories.
Forecasting & Planning (S&OP):
The PAM is responsible for collaborating with the S&OP team (Sales, Supply Chain, and Finance) and adhering to the S&OP process. The PAM is responsible along with SC and Sales to ensure the volume projection accuracy for his/her product categories/areas.
Inventory / EOL / Returns
The PAM is accountable to ensure the inventory turns of his/her product areas/categories meet the company goal of 6x/year (i.e. Cost of Sales divided by Inventory value). The PAM is responsible for driving the End of Life process for his/her product categories/areas. The PAM is accountable for managing the returns level of his/her product areas/categories, and will work to reduce the returns level to below the company goal of 5%.
High product quality is paramount to Monster’s success and to meet our quality promise to our dealers and customers. The PAM is accountable for ensuring that their product areas/categories adhere to the highest product quality standards. The PAM will work with the PE’s and SC to develop build specifications, test parameters, and supply QA audit procedures and supplier quality score-carding. The PAM will be measured by a quality scorecard for his/her product categories/areas (i.e. defect rate per thousand, and customer breakage reports)
Making high quality and high performing products that our customers love is key to Monster’s success. The PAM is accountable for ensuring the products they bring to market exceed customers’ expectations. The PAM will work with R&D, Marketing, PE’s, RPM, MAMs, and SC to create and design products in true Monster Style and appeal to our customers. The PAM will be measured by consumer and press feedback: on blogs, Internet, and through surveys.
Marketing & Tradeshows
The PAM will ensure that all products in his/her product area are supported by website, social media, sell-in slides, press, dealer launches, as necessary. The PAM will promote their product areas/categories at tradeshows, like CES, CEDIA, and IFA, by conducting presentations at Summits, for Retailers, or at the Monster booth.
PAM As The Team Leader
Monster deploys a matrix management structure for product development. The PAM will lead cross-functional teams to drive successful product launches. The PAM will act as both a strategist and a mentor to these cross functional resources, while always maintaining accountability for their combined success.
Provide direction and guidance to a cross-functional teams of project managers, engineers, industrial designers, strategic buyers, creative artists, copywriters, analysts, and sales people responsible for the design, production, marketing, and selling of your product category/area.
Work Collaboratively With The RPM Project Manager:
The PAM must work collaboratively with the RPM Project Manager. The PAM should meet with their RPM Project Managers often throughout the day, and at a minimum, once a day. The RPM Project Manager should attend ALL product related meetings with their PAMs. When this is not possible, they should get an immediate download afterwards form the PAM. Constant and open communication between the PAM and the RPM Project Manager is necessary for success. The Project Manager will be work closely with the PAM, so that the PAM knows everything they know, and vice- versa.
The PAM will successfully partner with his/her RPM Project Manager Partners to drive Product development initiatives at Monster. The PAM will ensure that his/her RPM Project manager partners do the following:
Drive Product Development Schedules:
Drive and be accountable for product development schedules from product inception, through the full launch of product, including implications on product end of life.
Drive Teams & Elevate Constraints:
Accountable for drives teaming and people across the company to ensure that project schedules stay on schedule while addressing, elevating, and finding solutions to remove constraints. Proactively anticipate and prevent potential risks to the timeline. Resolve issues as they arise and escalate critical problems to the project team, RPMLT, or senior management as needed. If the project slips from the defined schedule, the Project Manager will be responsible to identify the root cause and work to bring the project back on schedule or get approval for the new timeframe.
Work With The RPM Leadership Team:
Meet with RPMLT on a daily basis daily to identify and remove constraints, improve process, force Interaction with other parts of the company, communicate, and mentor or team with the other RPM Project Managers. These meetings will occur in the late afternoon, everyday.
Create and Maintain Project Schedules:
Accountable for creating and maintaining accurate project schedules within the Monster RPM Project Management system.
Accountable for ensuring that all product development and launch steps are met for each of his/her projects.
Completeness and Accuracy of the RPM Project Management System:
Ensure the completeness and accuracy of the data in the RPM Project Management System, and that the project management system is up to date, at all times, for your product categories and categories. Utilize Monster’s Project Server and SharePoint and other systems and tools to ensure overall program success.
The RPM Project Manager is empowered to, and accountable for communicating the status of his/her projects across key stakeholders and management in the company.
The RPM Project Manager will regularly reach out to the Sales Team and have the most accurate information on the status of a product, when it will be shipping, and any constraints.
The RPM Project Manager will be the single source of communication for the project schedule, and regularly communicate to all necessary stakeholders in Product Development, Engineering, Supply Chain, Sales, Sell-Thru, Marketing, and Management.
Regularly communicate product plans and objectives to all necessary internal and external constituents. Will regularly reach out to the Sales Team, Supply Chain, and Senior Management and will have the most up to date and accurate information regarding his/her products.
Utilize Sharepoint, RPM, and other tools to archive and communicate key documents and information. Serve as a key category and product Evangelist both internally and externally.
Maintain professional relationships with external partners such as suppliers, technology alliances, manufacturers, customers, and others.
The success of the Product Development Process is dependent on constant attention to process improvement and efficiency. The PAM will proactively assist the PDLT, SCLT, and RPMLT in the improvement and documentation of product development procedures and their implementation.
The PAM’s performance and success will be measured on the following:
On-Time Product Release To Promised Dates
Ability to successfully manage project launches to the approved timeline, within Monster company goals (no airfreight (inbound,or outbound), meeting quality, etc.)
Ability to escalate constraints in a timely and effective manner.
Completeness of Releases
Will be graded on the accuracy, completeness, and quality of product launch, per the agreed upon standard for each product. Were all steps required to support the product launch met (global launch vs. regional launch vs. line refresh).
Product Category Profitability
Will be graded on ensuring all products meet or exceed the minimum margin requirement set by the company at launch, and that all products are managed to drive down PPV and value engineered.
Will be measured on whether the inventory turns of his/her product areas/categories meet the company goal of 4x/year.
Revenue Growth For Product Area / Category
Will be graded on the revenue growth by Product Area / Category.
Company Booking and Profit
Will share in the success of the company, measured by total bookings and profit.
Inventory Levels / Product Quality / Returns
Will be measured on the inventory levels, product quality and returns rate of products in his/her categories/areas.
The PAM will be measured by consumer and press feedback: on blogs, Internet, and through surveys.
Skills & Attitude:
Elevating Constraints Together
Works well with team members across all pillars to elevate and resolve constraints in a timely and effective manner.
Communication and Teamwork
Ability to interact with other departments in order to gather relevant data and assist with potential constraints.
Confidence to state opinion, even when the majority disagrees.
High sense of urgency – Delivers on the critical few. Knows how to prioritize and deliver on critical projects.
Treats fellow Monsters well under times of stress.
Demonstrates a positive attitude, and a high degree of Monster Attitude.
Provides positive motivation to teams and other Monsters.
Performance against these goals will be evaluated by: VP of Marketing and Product Development, PDLT, and HR.
At least once a year, the supervising manager will conduct a performance review in conjunction with HR, with input from VP of Marketing and Product Development, Sales, RPMLT, PDLT, SCLT, PAMs, and HR, this will include a 360 evaluation.
Partner with the following internal constituencies:
- The Head Monster – align the product category business plan with the Head Monster’s strategic corporate vision
- Daily reports to The Head Monster and Senior Management
- Getting approval of The Head Monster as required.
- Sales – assess and address channel opportunities, channel strata and customer requirements, including developing strong relationships with key customers, dealers and reps by regularly accompanying the Sales team into the field
- Trainers – co-author and monitor the effective rollout and execution of sales floor training programs
- Engineering – define product specifications, proactively manage the entire product lifecycle, and provide detailed guidance on release requirements, action items and deliverables as they pertain to product specification and design, engineering, project management, and quality assurance
- Marketing – develop product launch plans, packaging, POP, and ongoing promotions and product revitalization campaigns
- Supply Chain – vendor selection and costing, forecasting and planning, and develop optimized processes based upon actual costs in order to build accurate sales forecasting and inventory management plans
- Merchandising – develop effective pricing and product positioning plans appropriately aligned to the product lifecycle
- Finance – develop accurate business cases, profitability, cost analysis, and financial planning models.
SKILLS & EXPERIENCE:
The successful candidate will have the following experience or knowledge in the following areas:
- Successfully managed an entire product life cycle
- Experience managing a product category characterized by high volume sales of multiple SKUs
- Preference given to candidates with relevant category experience in the Consumer Electronics industry, particularly in accessories and/or attachments