Product Manager 101

Product Manager 101
Presented by Christopher Cummings

What is a Product Manager?
"A Product Manager fills in the gaps between different functions and departments in order to make sure that the product develops and makes progress, with the aim of making the product perform better relative to the competition." - Jacques Murphy
Gaps occur between...
development and direction
sales and reality
revenue and profit
managing and doing
Source: http://www.pragmaticmarketing.com/publications/topics/04/0403jm_d

What does a PM do?
Understands the market
Develops a product vision and strategy based on market needs and company strategy... not competition’s actions
Creates product specs and requirements that reflect the overall product vision and strategy
Understands “pioneering doesn’t pay” -- but doesn’t fall behind the curve; timing is essential!
Talks with the customers to understand their needs

What else does a PM do?
Manages the brand
Generates sales leads and biz dev opportunities
Champions the product internally and externally
Responsible for the profit & loss of the product
Brings new products to life ... maximizes profits in existing ones ... winds down unsuccessful products

In 20 words or less...
The product manager is…
the glue that binds the team together and
the grease that keeps things moving

Five tips for success
Spend time with your customers, on a regular schedule, with a clear goal in mind
Ask questions, do research, challenge assumptions (politely!), gather data (internal, external, market, etc.)
Leverage the knowledge of experts inside & outside the company
Don’t try to define how things are done; focus on what needs to happen and when
Communicate! Sell the product! But don’t be all talk -- be vigilant, look for gaps, always be prepared to lend a helping hand

Resources
How To Be A Good Product Manager: http://www.goodproductmanager.com /
Pragmatic Marketing: http://www.pragmaticmarketing.com /
All About Product Management: http://allaboutproductmanagement.blogspot.com /
New Product Development Blog: http://blog.pdma.org /
Marketing Charts: http://www.marketingcharts.com
Boston Product Management Association: http://www.bostonproducts.org

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Product Manager 101

by Christopher Cummings on Oct 21, 2008

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Product Manager 101 — Presentation Transcript