What is product management?
People working in product management are responsible for the entire lifecycle of a specific product within a company.
product managers work on things like new product development, business cases, product life cycle, market and customer research, product marketing, product launch. They also provide an essential link between businesses and their customers
It takes input across the company from marketing, the customer team, analytics, leadership, and growth. It aims to continually improve our product to better serve our current and future customers.
When developing a business case for a new product idea, it's essential that you answer three key questions
- What problem does this product solve?
- How does this product solve the problem in question?
- Why is this solution the best option out there?
What does a product manager do, exactly?
- Researches, develops, and defines elements like product vision, product strategy, and product roadmap.
- Researches, collects, and analyzes data related to target market, target audience, and customers in general. They use this information to produce market and/or product requirements.
- Acts as a continuous link between customers and companies, prioritizing their needs and relaying it back to product development teams.
- Acts as a go-between between various company departments, such as the engineering, marketing, and sales team.
- Carries out product testing