Product Manager

Terumo•Franklin Township, NJ

About The Position

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 commercial marketing strategies and tactics to ensure that products in the assigned portfolio achieve revenue and operating profit targets. This role leads go-to-market execution of high visibility product launches - may translate global strategy into regionally relevant positioning, messaging, sales enablement, and sales training & education. Key to the success of the Product Manager is 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 also 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. Traditional downstream activities include product launches, sales training & education, developing go-to-market strategies and generally building and executing product commercialization plans. 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. The ideal candidate brings strong commercial acumen, experience partnering closely with Sales, and where applicable an understanding of hospital-based capital and disposable medical device markets.

Requirements

Requires strong commercial acumen and high level of analytical skills to solve complex problems
Requires a strong customer focus and sales-oriented mindset
Ability to think strategically and translate into effective tactics
Ability to work on multiple projects simultaneously and be flexible enough to change priorities with short notice when necessary
Must possess excellent 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
Must exhibit strong teamwork and be adapt at working cross-functionally
Typically requires a bachelor’s degree, preferably in marketing, business, Life Sciences or related field possesses equivalent combination of education and directly related experience or clinical qualifications
Requires a minimum of 5 years’ overall business experience in medical device marketing or product management with strong downstream or commercial focus
Demonstrated track record of launching and managing products including meeting revenue and profit objectives

Nice To Haves

Experience in imaging, interventional cardiology, vascular, or capital equipment markets a plus

Responsibilities

Develop comprehensive marketing plans for assigned products.
Lead execution of Go-To-Market strategies, including launch planning, segmentation, targeting, and commercialization timelines
Prepare regular product forecasts based on customer information and market analysis
Analyze and regularly report on product usage trends
Analyze, revise and coordinate with manufacturing the necessary production forecasts for the US market
Ensure that an adequate inventory of products is always maintained
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
Own product positioning, value propositions, and core messaging tailored to key customer segments (e.g., interventional cardiologists, cath lab leadership, hospital administrators)
Support pricing and contracting strategy development in partnership with Sales, Finance, Pricing and Corporate Accounts team
Develop sales and marketing tactics to include but not limited to brochures, trade advertising, training manuals, show materials and other collateral materials with input from Marketing and Sales
Develop and maintain high-impact sales tools including pitch decks, objection-handling and competitive selling guides
Support sales education with updated materials and communications on an ongoing basis
Routinely communicate with the sales force regarding product updates and availability, competitive activity, sales positioning, best practices, and new product development updates
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
May gather, analyze and report on a regular basis market trends, sales and competitive information and its effect on the performance of the portfolio
Support development and maintenance of market models, forecasts, and opportunity sizing and provide actionable insights to Sales and leadership
Plan and execute integrated marketing campaigns across channels (events, digital, field marketing) in partnership with Communication & Brand Experience (CBX) team
Support congress strategy, symposia, workshops, and customer education programs
Measure commercial effectiveness using KPIs such as adoption, utilization, revenue growth, and ROI
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.
Maintain active contact with key physicians regarding clinical research as it relates to current and future product requirements
Cultivate KOL relationships in strong collaboration with Medical Affairs team to drive commercial activities including but not limited to speaking engagements, procedural development and training & education
Identify and propose new projects which will enhance the performance of the product line, broaden the offerings and maximize the product line earnings
Act as the commercial marketing voice within cross-functional teams including Sales, Clinical, Medical Affairs, Communication & Brand Experience (CBX) and Supply Chain
May partner with global marketing in Japan to ensure alignment while advocating for regional needs
Perform other job related duties as assigned
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.