A definition of product management
Anyone who wants to accompany goods or services from the idea to the advertising strategy can work in product management. The definition of the profession promises a lot of variety.
Product management does not have a precise job definition. In general, the job of a product manager can be described as a task in which one is responsible for the complete care of a product. This includes all areas of the product life cycle such as the product idea, implementation, market launch and success control.
Definition of the area of ​​responsibility
- In product management, you take on responsibility for a product in all production phases. Before it is produced, you are responsible for developing ideas, planning and analyzing the market.
- This includes, for example, the trend and competitor analysis, as well as the demand analysis.
- In product management you determine what, how and for when manufactured or should be offered. The general definition of occupation also provides that product management should use the typical instruments of the Marketing, such as price, distribution and communication policy, is used to make the product profitable market.
Product management and success control
- In addition, you will be responsible in product management for the subsequent analysis of the success of a product that has already been introduced in order to improve processes if necessary.
- In these cases, your responsibilities include controlling sales, product image, and product handling. You also need to make sure that the audience you want is reached.
- The general definition of the profession also makes it clear that the manager must always cooperate with and exchange ideas with all other departments in the company. Knowledge of the work processes of other departments is therefore advantageous.
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