While most people associate the term “product management” with new products, this definition encompasses much more than that. The term also includes defining support policies and End-of-Life guidelines. Product management is also responsible for ensuring that product quality is high and that the company adheres to legal and compliance guidelines. These are all crucial elements to the success of any product. This article will explore these three aspects of product management in more detail. The final goal of product management is to ensure that a company has a well-defined product roadmap and that it communicates progress against this plan.
As a result, product management involves many aspects of product creation, from conception to development to marketing. The role of product management requires a thorough understanding of the customer’s needs and the company’s strategic direction. It also includes developing a product and selling it to the right customers to ensure profitability. To be effective, product management should involve several aspects of the business. Here are some of them:
The role of product management is often referred to as a “brand man”. The role originated during the Great Depression when a 27-year-old marketing executive proposed the idea of a person responsible for a particular product, a new role that was more closely aligned with a traditional business role. Product management has continued to gain popularity and spawned product organizations in many sectors, including advertising. Neil H. McElroy’s 300-page memo defining the role of a “brand man” was widely accepted by other business leaders, including Bill Hewlett and David Packard.