The transformation of business management has led to a change in the design of the strategies, in which project management was given more importance. And currently, product-centric management has proven to be more efficient, thus leading to the Product Manager role to emerge.
This made evident the urgent need of new strategies, which focused more in providing effective solutions, and most of all, fast solutions. As we live in an ever-changing society, market needs have been transforming constantly, hence the emphasis on quick, product-oriented solutions.
Therefore, these new market needs have led, as we stated before, to profiles such as the Product Manager to emerge, which despite being a very recent profile in the labor market, it is increasingly in demand within it.
The Product Manager Role
A Product manager is the person in charge of leading the product strategy and the ultimately responsible for managing the product throughout its lifecycle, since conception through end-of-life.
The Marketing Mix process focuses on the product phase creating a strategic line where defines the vision, strategy and roadmap. Always, ensuring that the product supports the company’s strategy and goals.
A key component of the Product Manager role is that is a market expert. Responsible for identifying the products that addresses a market need and represents a business opportunity. Basically is the person who identifies the success for a product.
Some of the main functions of a Product Manager are:
- Understand customer needs
- Develops positioning for the product
- Understand the market and developing competitive analyses
- Develop product pricing and positioning strategies
- Improve the product following the KPI’s
- Motivate the team and are responsible for the outcome