What is Product Management ?
What is Product Management? Simply put, product management is how we manage a product. But what exactly do we manage? Why is a product manager needed? Well, at this time the Product Management field is again famous and booming in this start-up era. Even though they have been around for a long time, the products they hold are different. At that time the products held were not digital, but products in physical form, for example, Sprite drinks, Coca-Cola, Fanta, etc. Why is it booming right now? Let’s read this article to the end.
Product Market Fit
We as product managers don’t just want to answer the customer’s pain points, but try to see if there is a business opportunity or not there. Now for example like this, the Flip application is an e-wallet application that is booming because of its advertisements on the internet that claim to be able to transfer between banks without restrictions and transfer fees are quite cheap. What Flip is doing is the right approach because he can see what the problem is in society? which until now no one has answered. Transfers between banks are usually subject to an admin fee of 6,500 rupiahs. There is no definite solution to answer this problem. Maybe there are already some e-wallets that answer this problem. For example, DANA provides ten free transfers every month. But there is still a limit. So the Flip Product came along that claimed unlimited free interbank transfers. So, there is an unresolved need in the customer or in the community which Flip is answering.
This issue also generates money or profits for Flip. From the business side, there are still income opportunities, not only helping the community or customers. This is the main focus of Product Management, which is finding a market fit.
Next, let’s discuss Who is the Product Manager?
Product Manager is a proxy, why? The Product Manager is the liaison between the customer and the company. imagine if there is no product manager, how the company can know what the customer wants. Problems that usually occur in product management include business & results, technology & solutions, and UX & design. A Product Manager is also required to have writing skills, Why? Because if a PM lacks writing skills, problems will arise such as undocumented problems, focusing too much on details (grammar, document aesthetics), not distributing documents to relevant stakeholders, and only using workflows and diagrams. Well, there are also benefits if a PM can write. The first benefit is to carry out daily activities and for future careers
How interested in becoming a Product Manager?
See you in the next article on Product Management.