What is Product Management?

A Definition of Product
Management
“Product Management is the process of conceiving,
planning, developing, testing, launching, delivering
and withdrawing products in the market”

Internal: current teams, management

External: supply chain, market
Upstream: planning, development, launch
Downstream: ongoing lifecycle management
Product Management’s Purpose Is To
Create…

Customer + Measurable Business

Value Benefits
 IT CAN BE ACHIEVED BY

● By identifying unsolved Customer Problems

● To create product experience
● That outwit the competition over a sustainable
period
● By thinking differently
So what do Product Managers do?

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Guiding product and market strategy
Product managers must Senior
managers
deliver value to the
business and play a Strategy Marketing
strategic role in
determining the actions to
achieve this.
Finance Sales
Product
But their role is also Manager
hands-on and involves
collaboration with
Customer
multiple internal R&D
service
stakeholders

Production Operations

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9
● Product managers like to solve problems

● Product managers spend time understanding

their needs and wants
How a Product Manager sees it
The carpenter has a problem. He needs a hole in the wall. A
drill can solve this problem, but there’s much more to it than just
creating a hole. The carpenter is concerned with multiple factors:

The speed at which the hole is made

The accuracy of the cut
The safety of the device that makes the hole
The ease of using the device
The reliability of the device
Where the device can be purchased or accessed
The price of the device
After sales support of the device

Product managers define the problem using criteria such as

these before working on possible solutions
Product Management
in action

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Product Management Framework

Two Operational
Modes:
Launch Ideate Product Development
Prepare
Explore Product Strategy and
Product Strategy
and Lifecycle Management
Lifecycle
Management
Build Focus

Define Immerse
Lifecycle Product Management

Launch Ideate

Is The Starting Point.

Prepare
Explore
Product Strategy

‘Lifecycle Management’, Product Managers

and
Lifecycle
Management

must: Build Focus

Grow product performance in the Define Immerse

market Monitor product performance

Report on the results
Respond to the
issues
Plan for the future

No product can survive by only doing without

adapting to changing market conditions.
Product Development

Launch Ideate

An area of focus for Prepare

Explore

many Product Product Strategy

and
Lifecycle
Management

Managers. Build Focus

Initiated when new ideas require Define Immerse

assessment and support from

development to launch.

Product and Market

Development initiatives help
extend the life of the product.
Product Development Process

3 Phases
Launch
1.
Prepare
Innov
ate

2.
Build
Desi
gn

3. Define Immerse
Impleme
nt
How does one get into
product management?

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Becoming a Product Manager
Become good at understanding problems and following
a logical process to define and develop solutions that
could solve these problems.

Read books and blogs, listen to podcasts and watch

videos to learn more about the Product Management
profession
Talk to Product Managers
Use principles of Product Management in your current role
Look at products and services that you buy & use and apply a
Product Manager’s perspective to these
Apply for jobs in Product Management
Dream big!
So to summarise

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In Summary

Good Product Management is about delivering

products that customers love.

Product Managers use logic, insight and a

degree of creativity in defining, developing,
deploying and maintaining these products.

Product managers must guide and collaborate

with other parts of the business and external
stakeholders.

Product managers have a duty to deliver

measurable benefits to their organisation.
THANK
YOU
Presented by -

Yash Duggal

Yashass Poojari

Anirudh