![]() Pricing & PackagingĮstablishing the right price for the product’s value. Guiding Engineering Execution & DeliveryĮmpowering, leading, and motivating the development teams, while ensuring what they deliver works, is timely, and meets the market need. Sizing up competitors, to shore up your own weaknesses and identify leap-ahead opportunities. Making tough choices that drive high impact investments and allocation of scarce resources. Ideating and refining potential solutions to the discovered market problems. ![]() Uncovering unmet market needs, problems, “pain points” and the like, then determining which ones are compelling enough for the business to pursue. This often also includes Market Sizing & Segmenting: Determining which markets and sub-markets are attractive to pursue, and why. Then, helping establish and align the strategic priorities of the company. Identifying trends, opportunities, and threats in multiple domains (e.g., market, technology, regulatory, economic, among others). In practice, the PM team leads or contributes to several specific efforts: 1. The Product Management role is very broad and has significant business impact. Admittedly, this “shelf” metaphor doesn’t feel very digital – we’ll come back to that shortly. This is in contrast to other business roles, notably Sales and Marketing, who are chiefly responsible for “getting the products off the shelf”. Today, the Product Manager role is sometimes summarized as being responsible for getting the right products “on the shelf” that is, creating products that people and companies want to buy. That’s major progress, for a role which by some measures was first conceived as a ‘Brand Man’ by Neil McElroy of Procter & Gamble in the 1930’s. Today’s Mainstream Product Managerįirst, let’s recap the role of the Product Manager, which has become increasingly mainstream, and somewhat standardized – initially in tech companies, and steadily more pervasively – over the past 20 years. Opinions vary, so let us take this space to assert our position, based on training and working with more than 75,000 customers in 120 countries, over 20+ years. That’s a question that thousands of Google searches are launched each day to ascertain – a search which returns more than 2.5 billion results in half a second. Indeed: What is Digital Product Management?
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