What does product management look like across different industries?

What does product management look like across different industries?
Photo by airfocus on Unsplash

In this article, we take a look at the impact on businesses and their products.

What is Product Management?

Product management drives the development and continuous improvement of products or services.

What is the role of a Product Manager?

A product manager has responsibility for some key functions, including:

1. Conducting Research

Researching to gain expertise about the company’s market, target personas, and competitors.

2. Communicating Plans

Developing a strategic plan and presenting it to key stakeholders within their organization. Furthermore, ongoing communication throughout the development process and beyond is important.

3. Developing Strategy

Shaping industry knowledge into a high-level strategic plan for the product.

4. Coordinating Development

Coordinating relevant product, marketing, and development teams.

5. Acting on Feedback and Data Analysis

Once the product is live, product development through data analysis will continue. Learning what works, what doesn’t, and what to improve on will be a continuous process.

What is Product Management like in…

To understand the impact made by product management, let us take a look at six industry examples:

Tech

A man looking at a laptop
Photo by Headway on Unsplash

Product managers identify customer needs and develop strategies aimed at increasing business value. The difference is the skill set required based on the type of product they manage. For example, software (PayPal), SaaS (Adobe Photoshop), or hardware (Macbook Air).

Marketing

‘Passion led us here’ on the sidewalk
Photo by Ian Schneider on Unsplash

Marketing has become the domain of a product manager within consumer companies. This means specialist skills including product positioning, messaging, and branding are very important.

Software Development

Little girl holding a robots hand
Photo by Andy Kelly on Unsplash

Digital or software product management is the management of software or digital products. A product manager creates roadmaps, fields feature requests, and manages the product backlog.

E-commerce

Shipping containers in a storage area
Photo by CHUTTERSNAP on Unsplash

A product manager oversees all brand touchpoints and not only the digital component. Within the e-commerce sector, the ‘product’ is the primary reason for users to engage. Whether browsing or ordering, the experience needs to be consistent and positive.

Retail

A shopping street in south east asia
Photo by Jezael Melgoza on Unsplash

Within retail, a product manager oversees a product or product line. Everything from concept to sales performance to marketing, fall within this remit.

Financial Services

Skyscrapers by the water in the city state of Singapore
Photo by Swapnil Bapat on Unsplash

Product managers are responsible for the effectiveness of financial products and services. With the goal of increasing profitability, whilst building customer satisfaction and brand loyalty.

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Financial Independence | Remote Working https://kapechurco.com/

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Kape Chur Company

Kape Chur Company

Financial Independence | Remote Working https://kapechurco.com/

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