ILLUMINATION
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ILLUMINATION

What Is Product Management?

Why Does a Business Need Product Management?

Photo by Jo Szczepanska on Unsplash

Product Management (PM) is the process of identifying, developing, and managing the products and services that make up a company’s business. It is also known as product management, product development, or product marketing.

Product management is a broad term that encompasses a wide range of activities, including product design, development and testing, marketing, sales, customer service, operations, finance, human resources, legal, information technology, and more.

The term is used to refer to all aspects of the business that are related to the creation and management of a product or service. In addition, the term “product management” is often used interchangeably with “marketing” or “sales” to describe the same activities.

For example, a salesperson may be responsible for selling products or services to customers, while a marketing manager may manage sales and marketing efforts for the company.

Those who do this job professionally are called product managers. A product manager is an individual who works closely with a team of product managers to identify, develop and manage the product’s features, functions, capabilities, and capabilities, as well as the marketing and sales efforts that support the development of that product. Also, the product manager is a rising trend and profession.

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