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Product Management Overview & Role

Product Management has emerged as a distinct function in response to the growth of tech and digital companies, emphasizing the importance of creating great products in a competitive market. A Product Manager serves as the crucial link between Business, Design, and Engineering, focusing on identifying profitable opportunities, defining product features, guiding development, scaling products, and managing product strategy. The role encompasses a variety of responsibilities that can vary by company but fundamentally revolves around understanding market needs and aligning product goals with business objectives.

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8 views5 pages

Product Management Overview & Role

Product Management has emerged as a distinct function in response to the growth of tech and digital companies, emphasizing the importance of creating great products in a competitive market. A Product Manager serves as the crucial link between Business, Design, and Engineering, focusing on identifying profitable opportunities, defining product features, guiding development, scaling products, and managing product strategy. The role encompasses a variety of responsibilities that can vary by company but fundamentally revolves around understanding market needs and aligning product goals with business objectives.

Uploaded by

greyswan9741
Copyright
© All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd

‭ hapter 1 — What is Product Management &‬

C
‭What does a Product Manager do?‬

‭ ith the growth of tech companies and non-tech companies foraying into digital‬
W
‭space, (Digital) Product Management has evolved as a separate function.‬

‭ urthermore, in a world, where a user has tremendous choices, has low switching‬
F
‭cost and is influenced from the social network (through rating, reviews, and‬
‭recommendations); making a great product matters more than ever. Therefore,‬
‭that’s the key function of Product Management.‬

‭So, what does a Product Manager do?‬

I‭ n simple terms, they are the critical link between Business, Design, and‬
‭Engineering.‬

‭Source — © 2011 Martin‬


‭Eriksson‬
‭ bove Venn diagram might not provide an accurate illustration of the scope of‬
A
‭Product Management. You can refer to the following illustration where I’ve tried to‬
‭capture the scope (mind it this is Non-Exhaustive).‬
‭Scope of Product Management‬
‭Product Manager Focus Areas‬

‭ t a high level, we can classify the focus areas of product managers into 3 types as‬
A
‭shown below.‬

‭Source – [Link]
‭ lthough the responsibilities of a Product Manager has wide variations in various‬
A
‭companies, we can still summarize the primary role of a PM as follows:‬

‭1.‬ I‭ dentifying Profitable Opportunities‬‭— by understanding‬‭the market,‬


‭overseeing the products already in the market and researching into‬
‭user’s needs‬
‭2.‬ ‭Defining the Product‬‭— deciding which features to‬‭be present in what‬
‭releases based on market, target users, and impact of each features on‬
‭different user groups‬
‭3.‬ ‭Guiding the development‬‭— by writing requirements,‬‭user stories and‬
‭prioritizing features based on effort and impact‬
‭4.‬ ‭Scaling the product‬‭— defining Go to Market Strategies,‬‭understanding‬
‭the user interactions, experimenting and focusing on what’s working and‬
‭leaving out what’s not, deriving and using market insights‬
‭5.‬ ‭Product Strategy‬‭— Managing road-map as a function‬‭of the market,‬
‭keep product goals aligned with company’s goals‬
‭Product Manager Role‬
‭ he following illustrations explain the core skills and roles of a Product Manager‬
T
‭and the immediate function that each of the roles touches. With a fair idea of what‬
‭a PM does, let’s move on to the next chapter where we’ll understand how to‬
‭develop a thorough market understanding.‬

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