A Complete Guide to Product Management
Product management is the area of the company that specializes in monitoring all stages of the development of products that will be marketed by the company.
Basically, it is a job that includes, in part, monitoring the definition of the products that will be produced, which processes will be carried out, the market positioning of the items, and their pricing.
During this digital transformation era, it is important to incorporate modern strategies into product management. That’s why you should use different tools available. This article will help you understand more about product management.
What Is Product Management?
Product management is the sector responsible for thinking about the product strategically, always aiming at customer satisfaction. It is an interdisciplinary area that mixes skills and knowledge from different fields, such as:
This integration happens because the main objective of product management is to make the product the best possible for the customer. For this, the area manager must:
● Know the life cycle of the product;
● Think of strategic solutions to problems that arise;
● Pay attention to market feedback.
In addition, a good product manager needs to master some pillars. They include:
● IT: understanding the technology behind the product and how it can solve problems;
● UX (User Experience): take into account the user experience to meet their needs and exceed expectations;
● Service: it is a sector that unites the two ends between the customer and the technology and design team that creates the product.
Knowing these details, you can already have a more targeted view of product management.
Technology In Product Management
Currently, it is impossible to think about product management without considering the technology present in the tools used by the sector.
For you to have an idea, in each step or essential issue of agile product management, you can use an average of two product management tools.
These product management tools are allied with the work routine of the team and managers. They facilitate processes and make them even more agile, thus generating good results.
Agile Management Methodologies: What Are They?
Agile methodologies bring more speed to project management. It is an ideal management model to lead the team in a way that meets market dynamics and improves productivity.
Thus, the product manager and project manager must know this practice well to exercise their function effectively with the product management tool.
Product Owner x Product Manager
Despite a certain proximity between the two functions, there is a big difference between them. In general, it is possible to say that the Product Owner’s (PO) role is more tactical, while that of the Product Manager (PM) is more strategic.
On the one hand, we have Product Management with a more strategic and creative focus. This person develops solutions to problems that have been found and creates suggestions for product reinventions. On the other side, Product Ownership coordinates and organizes tasks for the operational team daily.
Despite these differences, the positions have points in common. Both must have constant contact with feedback from customers, the market, and the team, and focus on carrying out initiatives that will solve the identified problems.
The development of a product could rely on a PM and PO team working together. This way, product management becomes more effective and productive with well-defined and aligned positions.
Product Management: Skills Needed By The Team
This information is important for anyone wishing to enter product management and companies wanting to hire someone to work in this area. During the selection process, try to identify some of the characteristics below to verify if the candidate is suited for the position.
1. Technical Knowledge
Good technical knowledge is essential for success in this profession. For this, it is important to have notions of marketing, IT, and UX. With these skills, you can analyze the reality of the product with professional knowledge, data, and information. You also must be able to assess the product’s life cycle characteristics and the target audience that needs to have its needs met.
When taking on a position to carry out agile product management, you will be responsible for raising customer needs and passing them on to the operator to make changes. That is why it is necessary to have a spirit of leadership.
It’s important to:
● Take initiative;
● Have a good relationship with everyone on the team;
● Encourage and motivate your team;
● Keep calm and establish good work dynamics;
● Distribute tasks and control deadlines;
● Measure the quality of deliveries.
3. Good Communication
Although the Product Owner figure will be the one closest to the internal team on a day-to-day basis, the Product Manager figure will also have a great presence in this exchange with the client and the team.
Therefore, establishing good internal communication without noise is extremely necessary. This capability should include not just staff but all other stakeholders, such as suppliers and customers. Good communication is one of the points that improve the user experience with the product. Always keep that in mind.
When carrying out product management, your performance needs to be broad and agile and must accompany the development of the product. Not to mention that it also has a direct relationship with both the internal team and the external stakeholders of the company. The organization is vital to avoid getting lost in the midst of so many important functions. Because you are a leader, it is only possible to be at the head of a team with the ability to organize all the steps, processes, documents, professionals, deadlines, and more.
5. Strategic Vision
The Product Manager has a more strategic analysis of the product. So they must take a macro look at the entire market and target audience. This way, you will be able to identify needs and better understand customer feedback.
We are talking about an area that deals with problems all the time and whose objective is to create solutions that improve the product even more. Especially if it’s a digital article, reinvention is very common in this medium. Therefore, product managers have much to gain if they develop their creativity.