Product Management Definition in Marketing

Here’s the product management definition in the marketing guide you need to know. Scroll down to learn more.

Product Management Definition in Marketing

The product management definition is simple: Product managers are responsible for the ultimate success of a product. 

Product managers need to balance the needs of the customer, market, and company to build a successful product.

That’s it. There’s no secret formula, no hidden code.

Product managers don’t just set product strategy: they carry out that strategy. They don’t just define the product: they’re responsible for the success of that product.

How can we break down what a product manager does? Let’s start with what a product manager isn’t.

Product managers aren’t just marketers. 

A good marketer must know how to drive demand, but without a solid understanding of the customer and product, marketing efforts will fall flat.

A good marketer must understand the nuances of their market and competition, but without a solid understanding of the customer and product, they’re just guessing.

Also, a good marketer can’t sell a product they don’t understand, but without a solid understanding of the customer and product, how will they know what to sell?

What a Product Manager in Marketing Does

Product managers are responsible for making sure that their company’s marketing efforts support the ultimate success of their product.

 PMs use analytics and deep insights into customer need to define what problems should be solved for which segments of customers. 

They also work closely with designers and engineers to make sure that problems are properly understood before solutions are built. 

Once solutions are built, PMs determine whether those solutions will work as intended; if not, they work with designers and engineers to iterate until the solution is right. 

Product managers’ roles, then, are far more complex than just setting strategy or defining products. 

They’re responsible for making sure that the right products are being built in the first place. 

What’s more, product managers are responsible for the success of their products. That’s why good product managers are always learning. 

They’re constantly researching what’s happening in their markets, looking for ways to improve their products and solve problems in new ways. 

Product managers know that no matter how successful their products are, there’s always room for improvement. 

They also know that there’s always something new to learn – and if they don’t keep learning, they’ll be replaced by someone who does.

How to Be a Product Manager in Marketing

If you’re interested in becoming a product manager, the first step is to understand the product management definition. 

The best way to learn how to be a product manager is to study successful product managers. Look at how successful companies like Amazon approach the development and launch of new products and try to figure out why their products are successful.

Product managers also need to be great communicators. It’s important for them to articulate the vision of their products in a way that inspires and excites both customers and employees. 

Conclusion

The product management definition is simple: Product managers are responsible for the ultimate success of a product. 

Product managers need to balance the needs of the customer, market, and company to build a successful product. 

If you think that you’d be a good product manager, then start learning as much as you can as early as possible. If you want to become a great product manager someday, then don’t wait! Start learning now!