Wednesday, 13 March 2013

Benefits of practicing Product Management

What is product management?” Product Management consists of 2: Product Planning, which is customer advocacy and product marketing, which is articulating business value. Product planning covers market requirements and product marketing covers product positioning strategies. Practising product management may not guarantee absolute success but not practising it will guarantee absolute product failure.

It should be noted that the product management as a function should report to the CEO and not to the marketing team or the technical team. Reporting to the marketing team will make the product management team a very tactical and not a strategy oriented division. Reporting to the technical team will limit the vision of the product management function in envisioning products for the market.

A product manager does not solve the problems in the market but rather transfers it to his product architect. The architect is the one who envisions the product and features. The product manager must always stand for the customer and get to create products for them. Otherwise it will not be accepted by the market. The product manager needs to interact with all the teams in the company, i.e Development team, Sales and Marketing, but he is not in charge of those activities.

For a great product strategy and new product strategy, a Product Manager is vital person. The product management practitioners are responsible for the product planning and product marketing. Product positioning is another important responsibility for the Product Manager and there are certain companies which advocate profit and loss for the Product management function.

Confianzys is a pioneer in Product Management space and has helped in evangelising it to Indian companies. Confianzys Consulting has helped companies with institutionalising Product Management function in their companies.

It has also associated with Blackblot for Product management certification. Confianzys has helped companies equip their teams with Product Management training and has partnered with Blackblot for Product management certification Product Management certification. This helps the companies to have better qualified employees and hence better productivity. The product manager training course helps the employees with industry proven best practices and templates.

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