Product managers are in charge of bringing a useful product to market that aims at meeting a need and assists the company to succeed as a business. They steer such projects in the right direction right from the word GO i.e. from thinking of an idea to analysis and from product development to marketing. They manage products in various stages of the lifecycle with a prime focus on customers. Let’s delve deep into the role and responsibilities of a product manager and how to be best equipped.
Master Product Management
Role & responsibilities of a Product Manager
Become a Well-equipped Product Manager
Stay abreast with market trends
Study product strategy development
Learn about consumer behavior
Understand product sales management
Upskill by joining the product management programme
Key Points
You need not be from any specific background or have qualifications in any specific stream to be a product manager. Even engineers can become good product managers with the right training.
IIM Kozhikode’s Advanced Product Management (APM) is the right choice for middle to senior-level product managers, marketing managers, and sales managers across all industries who want to excel in their careers.
The average salary for a Product Manager is ₹15 LPA as per Glassdoor.co.in, ₹ 16.0 LPA as per Ambition Box, ₹18 LPA as per LinkedIn, and ₹13.8 LPA as per Payscale.
Role & Responsibilities of a Product Manager
Product managers analyse the potential customers and market needs to come up with a product that is in demand. For this, they research and study the data gathered.
They chalk out the product’s vision, and various strategies and devise a plan of action to attain product development goals.
They need to work with product designers and engineers, QA managers, marketing specialists, project managers, various partners, including end parties and internal stakeholders. In a nutshell, they work with cross-functional teams.
They ensure that the project is moving at the right pace and review the work being carried out by all departments involved.
They need to employ their abilities to mediate between the internal team and external parties to meet divergent needs.
They might also need to work on something as simple as amending the company’s privacy policy or collaborating on a new product with a UX team.
While carrying out the above responsibilities, they always keep the end customers’ needs on top to ensure the success of the product.
Become a Well-equipped Product Manager
Stay abreast with market trends
It is important to have a thorough understanding of the competitive landscape. A product manager needs to assist in defining the organisation’s purpose, and have a clear vision of the product, and practical goals. Following trends necessitates good forecasting skills, rational and reasonable thinking, inductive reasoning skills, decision-making skills, and the ability to establish clear objectives and stick to them or modify them as needed.
Therefore, being informed about the market trends is necessary for developing an all-inclusive product plan. In addition, you should estimate the length of each stage in the product life cycle. When you enrol in a product management professional certification, you can expect to learn all the required skills and market trends needed to excel.
Study product strategy development
A product strategy serves as a blueprint for developing a new product or service. It outlines all the activities that your team must complete to achieve its goal. It is a high-level vision that outlines what a company hopes to accomplish through its product or how it intends to do so. Additionally, product planning explains how the product will benefit the business. It describes the exact problem that the service/product will address and its impact on the client and the company.
It must also specify what you want to accomplish through the strategies or defined plan. The product plan then operates as a yardstick to assess the progress. Creating a product plan and strategy is a difficult task. It comprises a deeper study of your concept or brand and making appropriate changes to your development process to help define the product’s design direction.
The best-equipped product manager must know effective product strategy development. A product management professional certificate offers a comprehensive idea of product strategies and how to devise them.
Learn about consumer behaviour
Consumers are the target audience of any product development. Now because each product is unique, it’s tough to provide generalised direction but if you follow the below-listed factors concerning your consumers, it will help you reach your goals effectively.
Get accustomed to your target audience
Understand consumers’ expectations
Create a vision of your product
Envision potential consumers’ response to the product
The primary goal of every business is to increase production and sales. To do that, any company or corporation must gain the trust of its clients by learning about their tastes, likes, and preferences. Advanced product management certification course helps candidates to learn the behaviour of the end clients. This is imperative to become a well-equipped product manager.
For example, for any product to succeed, its pricing must be as per the target consumer’s buying capacity and mindset. Only then one can expect to increase sales. So, the product must be excellent, the price must be reasonable, and the location distribution must be extensive and appropriate. The products need to aim at customers’ tastes and preferences and then be placed in the market strategically.
Understand product sales management
Sales management entails more than just keeping track of the orders received or offering support to your sales force. It begins with developing appropriate items, pricing, and distribution and extends with marketing content, customer service, and other sales initiatives. The sales funnel is as important as the people who implement it, and hiring, training, and managing sales staff is an essential aspect of every sales management programme.
Further, sales statistics not only tell the product manager what’s being sold and how much it’s selling, but they also reveal where the sales are coming from, thanks to the modern marketing and distribution systems. A sales management programme gives complete knowledge of sales and distribution techniques and how to make the most of them. A product manager must be proficient with all this.
Upskill by joining the product management programme
While pursuing a professional course from a reputable institute like IIM Kozhikode, the people you will meet have the positions you dream of, and the knowledge they will impart will be vital for your career advancement. You will get exposure to various key aspects of the industry that will prove excellent in shaping you into becoming an adept product manager. This will make you the first choice of the employers leaving others behind. During the course, you would meet people who had taken the same journey and arrived at the same destination.
IIM Kozhikode’s Advanced Product Management (APM) focuses on advanced concepts and skills that will help aspiring Product Managers to improve their career trajectories. They learn about product mindset, customers’ needs, product strategies, value creation, product launching and more.
Apart from knowledge of key functional aspects, the IIM Kozhikode’s APM will help sharpen various essential skills like conceptual, analytical, and decision-making skills along with knowledge of industry best practices. So, sign up for the best product management course from IIM Kozhikode, in collaboration with Times TSW and master key skills and competencies.
To know more: https://timestsw.com/course/iim-kozhikode-advanced-product-management/
IAS professional team has expertise in implementing green certification Services in Singapore in your organization for sustainability among competitors.IAS professional team has expertise in implementing green certification Services in Singapore in your organization for sustainability among competitors.Green Certification
Before knowing about the clauses and rules of certification we must know what is actually BIS certification.
In this article we will tell you everything you should know about the BIS certification this certification is, however, one of the most prominent ways to make your product immediately trustworthy in the eyes of the customers wholesalers retailers and other parties as the certificate provides a sense of truth and perfection to the product so let’s just know a bit more about this certification through this article
What is the Bureau of Indian standard?
To be very authentic this certification has taken place in our country many years ago it has been established in our country since the time of 1947.BIS came into existence in 1987 through an Act of Parliament.
So what is this is product certification scheme before heading towards the deep insides of the scheme we should know what actually it is and how does it work it is truly said that this BIS Compulsory Registration Scheme is eventually every essential for those manufacturers those are manufacturing some particular goods which throw bad effects on the public health and environment
BIS product certification scheme is one of the largest in the world, with over 26500 licensees covering more than 900 products.
Halal Certification IraqHalal Certification ensures the served food is Halal and is prepared in compliance with Islamic law requirements.
It establishes food quality and safety.
This globally recognized certification enhances the marketability and the reputation of your business.
It helps meet potential customers overseas.
This certification also helps to import your products from other countries.IAS is a famous certification body for auditing and issuing certifications for management systems and products.
We offer various product certifications such as Kosher, Halal, GOST-R, cGMP, HACCP, RoHS and so on.
