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Product Management

Definition:

Product Managers can be thought of as CEOs of their respective products. The primary responsibility is to own the success of the product and defining and executing the product strategy. Product Managers are expected to possess a unique blend of business and technical skills. Product management is a cross-functional role that requires the professional to work with many divisions across the organizations, from Engineering to Management and from Sales to Operations. Typically has got strong quantitative and qualitative analysis skills.

Typical Day In The Life of a Professional – DILO:

This is a fictitious calendar and is meant to give an idea of the different tasks that the professional performs and different people that the professional needs to coordinate with. This may differ from organization to organization and context.

Context For DILO:

Context: Software product in pilot phase. Product manager is in the midst of receiving the feedback from pilot phase analysis and also planning the next release at the same time.

DILO Calendar:

Time Activity
9:00 am – 11:00 am Review market feedback and customer survey data from the pilot. Based on the data, prepare the list of feature enhancements. Review the competitive scenario data and prepare a list of proposed features for the next release.
11: 00 am – 12:30 pm Meeting with an engineering counterpart to understand the technical aspects of the proposed features, features changes and define product release requirements for the next phase
1:30 pm – 2:30 pm Review sales data sheet. Give a presentation to marketing communications to define the go-to-market strategy, helping them understand the product positioning, key benefits, and target customer.
2:30 pm – 3:30 pm Attend a sales call with customer and support sales in explaining the product features.
3:30 pm – 4:00 pm Prepare next release product road map and hand over to the project manager for execution planning.
4:00 pm – 4:30 pm Meeting with senior leadership on business case /ROI analysis, feasibility and price modeling to provide the proposed feature recommendations to sr. management.
4:30 pm – 5:30 pm Prepare the goals and objectives document for the focus group study for the proposed release 2 features. Meeting with the marketing research group to plan the proposed focus group study schedule and resource requirements.

Career Ladder Disclaimer:

Exact ladder may change from organization to organization, but below is a typical path. Note. These are roles. Not necessarily titles in an organization. Titles amy differ for the same role based on the customer facing needs of the organization.

Typical Career Ladder:

Marketing_PrM_CareerLadder.jpg

Certifications:

Certification Description Career Level Certifying Body
Certified Product Manager (CPM) Certification exam that shows mastery of core Product Management & Product Marketing concepts essential to managing strategic and tactical efforts for a product and portfolio. Product Managers and marketers with some experience (and/or an MBA) AIPMM
Agile Certified Product Manager (ACPM) Certification exam that shows mastery of core Product Management & Product Marketing concepts essential to managing strategic and tactical efforts for a product and portfolio. Product Managers of all levels who are new to Agile or transitioning to Agile AIPMM
Pragmatic Marketing Certified Course and Test based Level I to Level VI (Level 1 to Level 6) Pragmatic Marketing

Associations and Groups:

Association Description More Info
PDMA Product Development and Management Association PDMA
AIPMM The Association of International Product Marketing and Management (AIPMM) AIPMM

Product Management Tools:

Tool Purpose More info
ProdPad A way to visualize the roadmap, collaborate with teams and manage features, feedback and their priorities ProdPad
InnovateNow Enterprise software for Product Management. It has some key capabilities essential for Product Management, including, the ability to manage roadmap, ideas, features, backlogs, timelines etc. InnovateNow

Product Management Methods:

Method Description
Develop product road map Product Managers use Product Roadmap to show the high level vision of the expected evolution of the product in terms of features and the release timeline.
Conduct concept test Concept is an idea aimed at satisfying consumer wants and needs.

Product Management Experts: