What is Product Management?
- by Sanjeev Kulkarni
- Product Knowledge
Product Management is the function that bridges the gap between customers and the ‘Teams’ that build the product.
Let us take a closer look at what the Product Management function helps achieve for Digital Products.
A Product Manager works closely with the customers to understand their needs, and fulfills those by creating a product idea, defining a product vision, strategy and a roadmap, and securing funds to take the idea from conception to launch.
To do all of this the Product Management function has to a Analyze the Market/Competition, define target customer base, analyze internal and external data, justify investment etc.
Once the Product development is approved the Product Manager makes himself / herself available to the development team, defines the product requirements and clarifies the team’s understanding of the requirements. Most importantly the Product Manager plans and prioritizes the work for the team.
The product manager defines the Go-To-Market, test and launch strategies for the product, and after the product is developed, works closely with customers to absorb early feedback and incorporates that into the product roadmap.
In many large organisations Product Managers own the P&L of the entire product lines.