Director of Product Development
Quick Facts
What They Do
A Director of Product Development is responsible for directing the overall product development of a business. This may include of developing the company strategy for the product, and collaborating with other directors from the engineering, marketing, sales, and operations departments in order to ensure that the strategy for the product aligns across the business.
Core Tasks:
- Identify, develop, or evaluate marketing strategy, based on knowledge of establishment objectives, market characteristics, and cost and markup factors.
- Formulate, direct, or coordinate marketing activities or policies to promote products or services, working with advertising or promotion managers.
- Evaluate the financial aspects of product development, such as budgets, expenditures, research and development appropriations, or return-on-investment and profit-loss projections.
- Develop pricing strategies, balancing firm objectives and customer satisfaction.
- Compile lists describing product or service offerings.
- Direct the hiring, training, or performance evaluations of marketing or sales staff and oversee their daily activities.
- Consult with product development personnel on product specifications, such as design, color, or packaging.
- Use sales forecasting or strategic planning to ensure the sale and profitability of products, lines, or services, analyzing business developments and monitoring market trends.
- Negotiate contracts with vendors or distributors to manage product distribution, establishing distribution networks or developing distribution strategies.
- Coordinate or participate in promotional activities or trade shows, working with developers, advertisers, or production managers, to market products or services.
- Initiate market research studies, or analyze their findings.
- Confer with legal staff to resolve problems, such as copyright infringement or royalty sharing with outside producers or distributors.
What to expect as a Director of Product Development
54% of people achieve this level of education.
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584 openings for Directors of Product Development
Career Progression
in United States (Nation)
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