Product management is the process of planning, developing, launching, and managing a product or service throughout its entire lifecycle. It’s a dynamic role that involves guiding teams, understanding the competitive landscape, and delivering excellence at every stage of a product’s life.
Product managers are responsible for:
Defining a product vision: Setting the strategy for the product and executing on it
Prioritizing: Prioritizing what the team should work on next
Aligning the team: Aligning the team around the product roadmap
Championing the customer: Representing the customer inside the organization
Communicating: Communicating with other teams and stakeholders
Problem-solving: Using logical and analytical thinking to solve problems related to product development
Creativity: Looking at tasks and problems in a new way to guide the team in developing innovative products
Product management is a cross-functional role that involves working with teams in engineering, marketing, sales, and support. It’s a key part of a company’s product development cycle, and effective product management can increase profit by up to 34.2%.