Introduction to Product Management
Product Management is a function that strategies, defines, and manages an organisation’s range of products and services. It is the important function that brings together Customer, Market, Technical and Financial knowledge so that it is easier to determine the types of products and services that a company should develop and continues to offer in the market.
To increase a company’s products and services chances for success in the market, it is important to engage with Product Managers.
Product management plays a vital role in the digital age since it enables innovation and growth. More and more companies are therefore establishing product management groups — including retailers, publishers, and banks that traditionally don’t employ product managers.
The product manager role actually evolved from the brand manager position that is often found at consumer packed goods companies.
The product manager is responsible for the product strategy, roadmap, and feature definition for that product or product line. The position often also includes marketing, forecasting, and profit and loss responsibilities.
The product manager often use his time on analyzing the market & competitive conditions, so that he can outline a product vision that is differentiated and delivers great and unique value based on user demands. Product management activities spans from strategic to tactical. Product management provides cross-functional leadership — bridging gaps within the company between different functions. Primary between engineering-oriented teams, sales and marketing, and support.
