Product Manager 101 Presented by Christopher Cummings

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

"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

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

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

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

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

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

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