Product Management

According to the Business Dictionary,  product management  is the development, marketing and sale of a product to a customer.

Product management starts from when a product is merely just an idea and continues all the way through the  lifecycle  of a product, including when the product arrives in the customer's home. A  product manager  drives the  strategy  for a product or group of products. Product managers are often responsible for educating the executive staff on the need for the product in the market.

  • Product management differs based on the company and type of products.

    However, one thing is consistent, the product manager represents the customers' needs. The product manager is responsible for bringing together the  technology,  business, and  users. The technology includes the actual product itself.

    The business represents those that have the ability to bring the product to market, and the user is the customer that has a desire for this product. The product manager is the only person in the company other than the Chief Executive who has a focus on bringing all the aspects of a product together.

  • The  concept of product management  is increasingly prevalent for both the startups and enterprise companies, but it’s still difficult to define it in a single sentence.

    That’s because it doesn’t fit any of the traditional roles you may already be familiar with: business strategy, design, marketing, and engineering. Product management is the voice of the competitive market inside the business venture.

    The market in the product management include the customers, and non-customers, buyers and users at companies in target market segments. To be simple, the product management is an interdisciplinary role that reaches across teams to design, bring better products to the market, set your business plan, and marketing.

For example, if a small company is trying to develop a website and writing code without fully understanding of who will be using the services and products, then the odds of success diminishes drastically as you have no idea how one is going to compete with rivals in a competitive business world.