A Product Manager is engaged in the full development cycle – from market analysis and the creation of the prototype to sales. In short, he leads a team of specialists who at different stages are involved in the creation and promotion of the product.
In the course of product development, the product manager analyzes the market situation, assortment and prices, thus forming special requirements for the new product to meet the needs of the customer.
The Product Manager actively cooperates with other specialists: marketers, engineers, designers, production structures, sellers, and technical support to achieve the main goal – to obtain maximum income from the implementation of a new product. And it is important to involve the necessary specialist at the right time. The success of any product depends on the manager’s ability to understand the needs of the target audience and have a clear idea of how to meet them.
One of the most important points in the work of a product manager is control at all levels of product creation: production, quality, personnel, and promotion of goods. And a new product, to be competitive, must meet many requirements described in documents on standardization, certification, and promotion. After all, even the most brilliant idea can be spoiled by improper execution or inconsistent actions of the team.
Responsibilities
The job responsibilities of a product manager depend on the scope of his activity. If it is the IT industry, a product manager can lead the creation of a website, games, mobile applications, etc. In the food industry – creating new types of products or expanding the range already known by adding new ingredients and improving quality. Functional responsibilities may vary depending on the type of company’s activity.
Pros and cons of the Product Manager profession
Pros
High pay
Big bonuses if a product succeeds
Promising and sought-after profession
Cons
Cooperation with different specialists needs a wide range of knowledge and a high level of communication
The complexity of coordination among different professionals
Need to work in a time-consuming environment
Increased patience at any stage of the work
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Important features
- creativity
- leadership
- systems thinking
- analytical capacity
- persuasiveness
- ability to listen carefully and articulate the problem
- interpersonal skill
- resilience
- ability to inspire and unite a team
- ability to see and choose the best professionals at the right time
- development orientation
- perseverance
