What is Product Management?

Product management is an organizational life cycle function within a company dealing with the planning or forecasting or marketing of a product or products at all stages of the product life cycle.

Product development and product marketing are different yet complementary efforts with the objective of maximizing sales revenues, market share, and profit margins. The role of product management spans many activities from strategic to tactical and varies based on the organizational structure of the company. Product management can be a function separate on its own and a member of marketing or engineering.

While involved with the entire product life cycle, product management's main focus is on driving new product development. According to the Product Development and Management Association (PDMA), superior and differentiated new products, ones that deliver unique benefits and superior value to the customer, is the number one driver of success and product profitability.

Role of Product manager (Job Description)

1. Product manager is responsible for brand strategy planning for brands
2. Developing brand strategy, promotional material & technical literature  in alignment with strategy for all the brands
3. Ensure implementation of strategy through field work and interaction with field force
4. Prepare annual Calendar for all the meetings and product launch plan
5. Achieve financial goal for each brand
6. Monthly Sales forecasting for each brand
7. Analysis of data, trends, studies
8. Continuous brand and territory wise tracking of the sales
9. Training of new team members to familiarize them with the product portfolio
10. Selling skills and management model of the organization
11. Providing Market/Field research, situational assessment, Pre-launch and post-launch strategies, competitive landscape, time-lines, key competitor details, pipeline  information and other requisitions that may drive better Business decisions and can help develop critical strategies for the client product
12. Conducting secondary research utilizing several databases [details in database-expertise list, overleaf] and other online resources
13. Handling the Product Promotion and managing conferences
14. Handling of external AD agency/PR team