With the development of domestic business, an increasing number of “point” posts that are responsible for a specific functional penetrate into all its segments. Including a product manager (he is also a product manager).
The product manager is the person who is responsible for the birth of new products in the project, their preparedness for entering the market, price characteristics, its target audience, KPI and other characteristics.
In fact, the product manager is the mom and dad of the service or product, and on his shoulders lies the concern for the birth, adulthood, and adulthood of the “child” (with all the ensuing consequences). In order for the child to grow up healthy and comprehensively developed, the product manager collaborates with third-party specialists from the departments of sales, marketing and PR, technical support. However, so that seven nannies do not have children left unattended, the specialist must know their functionality. And with Worksection, it will be easier to control the participation of involved colleagues and contractors on the project.
Product Manager Responsibilities
- Creation and promotion of new ideas, their implementation in the form of a finished product or service
- development of a line of products and services
- KPI plan and control over its clear implementation
- analytics of competitors and forecasting their activity, analysis of a market segment
- pricing policy and product life cycle forecast
- creating a sales promotion program, developing presentation and POS materials as part of marketing promotion
- work with partners and negotiations with clients
At the moment there are no educational institutions that are preparing for the graduation of certified product managers, but large companies require a candidate for diplomas in related disciplines. So, Google expects from its new product manager a diploma in computer science.
What is in the case of the product manager?
- Full control over the birth, withdrawal and existence of the product on the market. For this, the manager needs to divide the cycle into stages and understand each of them, to know what tools of influence on the target audience to use in a given situation. The task of the product manager is to provide the product / service with a long and happy life, as well as a soft “retirement”. If you played any part of The Sims, imagine the product as a child-sim, then the development of the product will become his whole life from school to a rich pension.
- The development strategy in great detail. For this, the manager needs to know the portrait of Central Asia, its aspirations and needs, as well as to comprehensively answer the question of how the product will satisfy the needs of consumers. To do this, we need to conduct comprehensive qualitative and quantitative research, the most popular tool for this is the creation of focus groups (according to a study conducted by the marketing company Alpha UX in 2015). But other sources of information should not be ignored. Since the market is full of offers, one has to find new ways of influencing the end user (not only sites, landings, social networks, but also instant messengers and Youtube)
- Monetization of goods and services. Any idea should be profitable, otherwise it becomes a hobby and has nothing to do with business. Therefore, the product manager must make independent decisions on the withdrawal of the product, ways to monetize it and increase profits / reduce costs.
- Building a Roadmap product. Roadmap is a development process with all delegations of authority to individual specialists, ways of analyzing this activity and evaluative mechanics. The product manager should be able to do this too – tactically approach strategic issues. Of course, with regular adjustment of activities.
- Collection of information from end users. CX or UX (customer experience or user experience) are universal tools that can help the product manager adjust product development to bring it to a wide market.
Conducting focus groups, surveys, questionnaires, beta tests and other activities to obtain a block of data from the user – also falls on the shoulders of the product manager. To do this, you need to create an emotional base for the product and put it into practice (in terminology, it sounds like “create a product backlog).”
- Teamwork and manifestation of the qualities of a leader. Owning rhetoric, logic and oratory is the norm for any specialist who plays the role of a product manager in a team. However, these skills are not a priority. You only need to be able to prove your point of view, but the ability to negotiate the Harvard method will certainly come in handy.