what is product management?
Post on 19-Sep-2014
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A high level discussion of the focus and challenge for product managersTRANSCRIPT
What is Product Management?
Cindy F. Solomon, CPM/CPMM
AIPMM* Certified Product Manager (CPM)Certified Product Marketing Manager (CPMM)
*The Association of International Product Marketing and Management (AIPMM)
Product Management
Whether a company is a new venture or a well-established firm, the role of product management is a critical business function.
Product Management
Targets the connection point between a company's product development capabilities and the marketplace.
Product Management
Entails the art of determining market needs and defining products tailored to meet those needs in order achieve corporate goals.
Product Management
Requires both quantitative and qualitative market research,
business-case justification for development expenditures,
definition of specific product requirements, and
coordination of development and launch activities across the organization.
Product Managers
Typically have very cross-functional responsibilities, › from engaging with customers, analysts
and the press › to working with engineering and financial
managers.
Product Managers
Must have excellent communication skills, along with a talent for planning, long-term vision and attention to detail.
Product Managers
Tend to have a well-developed entrepreneurial spirit, exhibiting insight for recognizing opportunities for new or increased revenue.
Product ManagementBest Practices
Forecasting and planning for a product, including projections of market size, market share and revenue.
Product ManagementBest Practices
Performing customer research and competitive research.
Product ManagementBest Practices
Documenting product plans, › in market requirements documents (MRD)
and › sometimes functional specifications
(product requirements document - PRD), › business plans, or › other planning documents (product road
maps).
Product ManagementBest Practices
Evangelizing the product, both within the company and via presentations to customers, media and analysts.
Product ManagementBest Practices
Project management tasks, such as negotiating feature/schedule tradeoffs during development, and coordinating launch activities both within and outside of the organization.
Product ManagementBest Practices
Providing sales support, including training the sales force, monitoring sales trends, and answering questions for sales prospects.
Product ManagementBest Practices
Managing the product lifecycle, › including planning for initial launch, › follow-on releases, and › eventual retirement.
Cindy F. Solomon, CPM/CPMM
AIPMM* Certified Product Manager (CPM)
Certified Product Marketing Manager (CPMM)
*The Association of International Product Marketing and Management (AIPMM)
http://www.linkedin.com/in/cfsolomon