Service product management

Service Product Management deals with managing a service product across it's complete life cycle. This organizational function is equally common between Business-to-business as well as Business-to-consumer businesses. Manage the knowledge management process and best practices for the service.

A service product, unlike a hardware or software product, is intangible and manifests itself as pure professional services or as a combination of services with necessary software and/or hardware. The Service product management practice ensures management of a profitable service in the market place. 

Service Product manager identifies profitable service space, packages services in a productized form and deliver's the same to the market. Manage the decision process of ramping down service product, and executing the service ramp down thus ending the service product management process.

The function is a core service business management function and is a mix of sales and marketing functions. The function interfaces with various organizational groups like Strategy, Planning, Financial controls /Management Accounting, Sales, Marketing Communications etc.