The Product Manager is responsible for the product planning and execution throughout the Product Lifecycle, including gathering and prioritizing product and customer requirements, defining the product vision, and working closely with engineering, sales, marketing, and support to ensure revenue and customer satisfaction goals are met. The Product Manager’s job also includes ensuring that the product supports the company’s overall strategy and goals.
Product Manager Job Duties:
- Determines customers’ needs and desires by specifying the research needed to obtain market information.
- Recommends the nature and scope of present and future product lines by reviewing product specifications and requirements; appraising new product ideas and/or product or packaging changes.
- Assesses market competition by comparing the company’s product to competitors’ products.
- Provides source data for product line communications by defining product marketing communication objectives.
- Obtains product market share by working with the sales director to develop product sales strategies.
- Assesses product market data by calling on customers with field salespeople and evaluating sales call results.
- Provides information for management by preparing short-term and long-term product sales forecasts and special reports and analyses; answering questions and requests.
- Facilitates inventory turnover and product availability by reviewing and adjusting inventory levels and production schedules.
- Brings new products to market by analyzing proposed product requirements and product development programs; preparing return-on-investment analyses; establishing time schedules with engineering and manufacturing.
- Introduces and markets new products by developing time-integrated plans with sales, advertising, and production.
- Determines product pricing by utilizing market research data; reviewing production and sales costs; anticipating volume; costing special and customized orders.
- Completes operational requirements by scheduling and assigning employees; following up on work results.
- Maintains product management staff by recruiting, selecting, orienting, and training employees.
- Maintains product management staff job results by counseling and disciplining employees; planning, monitoring, and appraising job results.
- Maintains professional and technical knowledge by attending educational workshops; reviewing professional publications; establishing personal networks; participating in professional societies.
- Contributes to team effort by accomplishing related results as needed.
Product Manager Skills and Qualifications:
Product Management, People Management, Understanding the Customer, Product Development, Requirements Analysis, Pricing, Planning, Competitive Analysis, Sales Planning, Inventory Control, Financial Planning, and Strategy