What does a product manager do and why are they the rockstars of tech?
In our technologically advanced generation, the world has expanded opportunities thanks to the integration of technology and the internet.
Several jobs have progressed thanks to the technological facilities, to name a few, marketing, product management, social media management, and many other opportunities.
Product management is among the few options which converge the digital world of technology into the physical industry.
The intertwining of both network and physical worlds has built better tech products in suitable shapes like 3D modeled objects which ought to be used for technical and discretionary purposes.
However, few examples could be considered, the drones in Robotics made with cameras for diverse purposes, or another sample is the functional prosthetic robotic hands for surgical goals.
Those outcomes are received from special product designing equipment carried out in the three-dimensional format and detailed operating algorithms.
After all, can we assume that the primary rockstars of the tech industry are product managers and their teams?
Who is a product manager, and what are their responsibilities?
By its literal role, a product manager takes responsibility for the product that a business generates.
Objectively speaking, a product manager is an individual charged with the strategy, production plan, production line, or cycle, eventually defining the product’s value with the purposes and benefits behind its usage.
Overall, based on LinkedIn estimation, almost 700,000 product managers are currently employed for the position globally.
These leaders are concentrating on every cycle of production, starting from conception to its launch. They are prominent with their creativity and ideas embedded into the product line and know how to make a prototype that will turn into something beneficial both for customers and business.
Overall, those managers’ focus and responsibilities are on marketing, future forecasting, and the profit and loss of the ventures embarked.
A product manager prioritizes and scrutinizes the opinion and feedback of the customers for eventually laying out the company’s vision including profit and loss.
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The product management part is where the user’s experience, the technologies implemented for the production process, and the business objectives and goals overlap.
After all, the business’s future expectation is to optimize its products with reforms and generate a feasible return on investment strategy.
Below we can find the precise and concise responsibilities of the product manager:
- Projection of the strategy and the vision of the product
- Introducing the business values to the product team
- The trajectory and the planning of the process behind business mentorship and development
- Collaborating with the design and engineering team for building the product
- The content and the timing of the deliverable of the team
- Preparing a prototype to facilitate it
- Determine the pros and cons of the product or the SWAT of the business itself
- Examining and analyzing the market with all the correlations and obstacles and focusing on details.
- Possession an outstanding notion and the ideation establishment with all the processes of generation, developing, and implementing new ideas.
- Collecting, blending, analyzing, promoting the features, and eventually transforming all these ideas into elements and authentic forms
- Ensuring the coherence of the product planning and development procedures with the customer’s constructive feedback and request on the product.
- Determine necessary features integrated to the delivered product in the market with upgrades by answering the “What” and “When.”
- Leading the product development process and management team to success and cooperating closely with the expert engineering team to properly use the resources.
- Closely follow up with the customers through a marketing and monitoring team responsible for collecting customer feedback and suggestions to increase customer engagement.
Tech product management
As part of technology, product management is among the technical product management categories as it ranks among the relatively high technical complexities.
Those tech products are either produced internally for the company or external users like customers; mostly, we pertain to the hardware and software usages. They are either used intentionally made for a purpose or for manufacturing other products.
A primitive example could be a massive robot as the product used for construction with all the background algorithms for robotic functionalities that are the basis used for primary construction purposes, eventually generating new incremental values in the construction industry.
This increment refers to the unceasing and tirelessly functioning of the robots during work, which is ideally an efficient and productive approach compared to the human construction labors they have replaced.
Therefore, their investment cost is enormous enough to return almost all the incurred expenses for the laborers hired with their insurance, sick leaves compensation, retirement, taxes, training, salaries, and so on. Such projections require a long-term planning and decision-making process.
Moreover, this strategic approach will help find investors and platforms for getting financial aid, discover failures, and turn your idea into one of the most funded Kickstarter projects.
The technological product management job is so sensitive for the products they are planning to introduce since those managers need to have a basic or deep acute knowledge of how the product functions and understand and evaluate the impacts caused to their users.
This implies all sorts of products be it electric skateboards or a CRM or rocket building. In addition, a significant role is played by the Business Intelligence team, who design the complex algorithm of their product.
For instance, any Catering industry software, who has access to all the financial status of a restaurant company, is highly vulnerable to any hacking and disclosure of their user’s corporate classified information.
Therefore, the function of the technological product management group extends, but their relative responsibility and confidentiality intensify under the rules of the specific country.
Or if it is outsourced from another country, the need for adaptation to the other country’s laws and regulations.
