Product Management is an organisational function that is based around managing product offerings through all stages of the product lifecycle. Functions range from product development, along with forecasting, positioning, pricing, through to marketing strategies and product launches. This involves formulating strategies around products and customers across the entire organisation’s portfolio, with a customer centric view to accurately assess impacts of product transformations to be undertaken.
Roles performing Product Management functions require deep understanding of the competition, buyer personas, channel, and industry trends to influence product, development, and value propositions. This knowledge ensures customer needs are clearly understood, which leads to opportunities to iterate and build on product offerings and optimise the customer experiences.