Planning to become a Product Manager? Are you good at product planning & marketing strategies? The product manager job description includes collecting product and customer requirements. As a product manager, you have to manage the design, concept, sample production, testing, and forecast.
Additionally, you have the responsibility for cost, design, mass production, promotion, support, and finally product end of life. In short, the whole product lifecycle depends on you.
You also have to deal with sales, marketing to ensure revenue and customer satisfaction goals. The Product Manager’s job is to ensure that the product and marketing efforts support the company’s overall strategy and goals.
Also, find the list of top 2020 high paying jobs in India for freshers & experienced.
Product Manager Job Description – Responsibilities:
Typically, a Product Manager is responsible for product pricing, planning as well as the execution throughout the Product Lifecycle. These responsibilities include collecting customer requirements, determining the product vision, working closely with engineering, sales, and marketing teams.
Moreover, here is everything a product manager overlooks and holds responsibility for:
- To establish a long-term vision and strategy for the company’s products.
- To deliver the same strategy to all of the appropriate participants as well as stakeholders
- Satisfy customer’s needs and desires through extensive market research and data.
- Establish a product strategy and roadmap.
- Deliver a monthly revenue forecast.
- Develop sales tools as well as collateral.
- Acquire product strategies & pricing, evaluate competition by comparing products.
- Generate new ideas that grow market share, improve customer experience and drive growth and revenue is your ultimate goal.
- As a product manager, you have to see the scope and also prioritize activities based on business and customer impact.
- Work closely with public relations teams, executives, product management team members to deliver with quick results.
- Evaluate promotional plans to ensure that they are consistent with product line strategy and that the message is effectively conveyed.
- Represent the company by visiting customers regularly for feedback on company products and services.
- Provides information for management by preparing short-term and long-term product sales reports and analyses.
- Brings new products to market by examining the proposed product requirements and product development programs.
- Manage staff recruiting, selecting, as well as training employees.
- Attending related workshops; going through professional publications; building personal networks. With this, try participating in professional societies.
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Requirements & Skills:
Mostly, a product manager job description will ask for a Bachelor’s degree in Business, Computer Science, Economics or other related fields. However, inclination might be towards a Masters’s degree holder, preferably an MBA. Apart from that, other requirements for a product manager might include:
- Proven work experience & track record of managing products and other aspects of a successful product manager
- Excellent written and verbal skills
- Great teamwork skills
- Solid technical background with hands-on experience in software development and web technologies
- Expertise at working effectively with cross-functional teams.
- A strong technical background, with N years of experience.
- High commitment to work
- Willing to travel when required
A Product Manager job requires exemplary people skills, communication skills, project management & leadership qualities. And you should also be great at handling team & maintaining a relationship with both external & internal parties.
Balancing the diverse needs of a product manager entails stress management and organizational skills. Collaboration, teamwork, and communication are key to the release of a new product. The Product Manager must also have a better follow-through than anyone else.
The Product Manager job requires a sense of what will sell in the marketplace. Additionally, they need to possess a sense of consumer behavior. Appraising market trends as well as conjecturing the approach of competitors is a significant part of this role.
The average salary for a Product Manager is more than INR 9 LPA. The typical tenancy for a Product Manager is 1-3 years. Besides, you should remember that a product manager’s salary depends on a lot of factors. The most prominent factors among them are location, experience, and expertise.
Also, read about the salary of a product manager. As economic activity takes its pace, the demand for product managers will only increase.
Tips For Product Managers
Product managers serve a critical role at different companies, but good ones are usually hard to find. Moreover, they are constantly under the pressure to perform to the best of their abilities. Product managers vary in terms of experience or skill set. So, here are a few tips to help you stay on top of your game:
- Be a future visionary to predict upcoming trends
- Have an innovative approach with a vivid imagination
- Become a jack of all trades
- Master the technical know-how
- Stay up to date with the latest tech developments and industry news
- Become well versed with metrics and analytics
Lastly, just remember to give yourself time to work and adapt. It is crucial to understand not all product manager roles are the same. Each role demands its own set of unique approaches and it mainly depends on the kind of product that is involved. Looking after product sales and customers is an essential part of the job.
As long as you have the product knowledge and constantly work on updating your skillset, you will be able to make your product a success.