The term ‘product management’ refers to an important organisational role. Product managers are usually found at companies which are building products or, alternatively, technology for customers or internal use. The role of product manager evolved from the brand manager position which is often to be found at consumer packaged goods companies.
The product manager is accountable for the strategy, roadmap as well as feature definition for that product or product line. The position may also include marketing, forecasting in addition to profit and loss (P&L) responsibilities.
What is involved in product management?
Activities of a product manager span from strategic to tactical. The role of this individual includes the following objectives:
- Set a product vision as well as strategy which is differentiated. In addition, it must deliver unique value that is based on customer demands. The task includes defining personas and analysing market as well as competitive conditions.
- Define substance of what the product team will deliver in addition to the timeline for implementation. This includes creating a release plan, securing actionable feedback and ideas in addition to prioritising features.
- Provide cross-functional leadership, most especially between engineering teams, sales as well as marketing, and support. A fundamental aspect of this is communicating the product roadmap in addition to keeping everyone informed of updates.
The skills of a great product management professional
Product managers just don’t have any direct authority over most of the things which are needed in order to make their products successful. This goes from user in addition to data research right through to design as well as development,marketing, sales, and support.
Product managers are not the CEO of a particular product. The roles of PMs vary widely depending on a number of factors. Aspiring product managers should consider three primary factors when evaluating a role in addition to whether or not they want to take this up:
- Core competencies,
- Emotional intelligence (EQ), and
- Company fit.
The best product managers we have worked with have mastered the core competencies in terms of what it takes to be a great product manager, have a high EQ, and work for the company which is right for them.
Beyond shipping new features on a regular cadence and keeping the peace between engineering and the design team, the best PMs create products with strong user adoption that have exponential revenue growth and perhaps even disrupt an industry