In the digital world where customer engagement is premium, creating great products matters more than ever. With both digitally transformed tech and non-tech companies striving to deliver digital products, Digital Product Management has emerged as a new function in the digital world.
The job description of Product Managers (PM, for short) is ambiguous – it differs across companies and industries. To know the important roles of a Product Manager, we must know what Product Management is.
WHAT IS PRODUCT MANAGEMENT?
Product Management is the process of managing the lifecycle of a specific product of a business. It cuts across the phases of idea generation, product development and product marketing. It is a function at the heart of an organization as it strives to balance the needs of providing the customers’ wants and creating value for an organization as much as operationally possible.
Now that we technically know what Product Management is, let us discuss the roles of a Product Manager.
THREE IMPORTANT ROLES OF A PRODUCT MANAGER
- Product Strategy
- Team/Stakeholder Communication
- Managing the Product Lifecycle
A product strategy is a high-level plan describing what a business hopes to accomplish with its product, and how it plans to do so. Product Managers develop the product strategy for execution.
Product Managers persuasively communicate the product strategy using a product roadmap to key stakeholders across their organizations: Executives, Investors, Development Team, etc. They sustain ongoing communication across their cross-functional teams throughout the development process and beyond. They also ensure all decisions made concerning development, marketing, etc. reflect and support the product strategy.
MANAGING THE PRODUCT LIFECYCLE
Product Managers manage the lifecycle of a product from inception, through engineering design and manufacture, to service and disposal of manufactured products.
At Lead Resources, assisting businesses and organizations to build sustainable digital products is our forte. We offer consultation and incubation services to technology and non-technology startups. For more information, you can contact us at firstname.lastname@example.org or call 08097777094.
Itua Emmanuel is an Associate Solutions Architect at Lead Resources and a Digital Marketer and Product Manager at Lanepact Ecosystems, a tech solutions organization that aids individuals and organizations to build sustainable solutions. Itua Emmanuel is also a business enthusiast and during his free time, he watches anime or reads a book.