Product management targets the connection between a company's product development capabilities and the marketplace. It requires determining market needs and defining products to meet those needs and achieve corporate goals. This involves quantitative and qualitative research, justifying development costs, defining requirements, and coordinating launch activities. Product managers have cross-functional responsibilities including engaging with customers, analysts, engineering, and financial managers. They must have strong communication, planning, and entrepreneurial skills.

1. What is Product Management? Cindy F. Solomon, CPM/CPMM AIPMM* Certified Product Manager (CPM) Certified Product Marketing Manager (CPMM) *The Association of International Product Marketing and Management (AIPMM)

2. Product Management Whether a company is a new venture or a well-established firm, the role of product management is a critical business function.

3. Product Management Targets the connection point between a company's product development capabilities and the marketplace.

4. Product Management Entails the art of determining market needs and defining products tailored to meet those needs in order achieve corporate goals.

5. Product Management Requires both quantitative and qualitative market research, business-case justification for development expenditures, definition of specific product requirements, and coordination of development and launch activities across the organization.

6. Product Managers Typically have very cross-functional responsibilities, from engaging with customers, analysts and the press to working with engineering and financial managers.

7. Product Managers Must have excellent communication skills, along with a talent for planning, long-term vision and attention to detail.

8. Product Managers Tend to have a well-developed entrepreneurial spirit, exhibiting insight for recognizing opportunities for new or increased revenue.

9. Product ManagementBest Practices Forecasting and planning for a product, including projections of market size, market share and revenue.

10. Product ManagementBest Practices Performing customer research and competitive research.

11. Product ManagementBest Practices Documenting product plans, in market requirements documents (MRD) and sometimes functional specifications (product requirements document - PRD), business plans, or other planning documents (product road maps).

12. Product ManagementBest Practices Evangelizing the product, both within the company and via presentations to customers, media and analysts.

13. Product ManagementBest Practices Project management tasks, such as negotiating feature/schedule tradeoffs during development, and coordinating launch activities both within and outside of the organization.

14. Product ManagementBest Practices Providing sales support, including training the sales force, monitoring sales trends, and answering questions for sales prospects.

15. Product ManagementBest Practices Managing the product lifecycle, including planning for initial launch, follow-on releases, and eventual retirement.

16. Cindy F. Solomon, CPM/CPMM AIPMM* Certified Product Manager (CPM) Certified Product Marketing Manager (CPMM) *The Association of International Product Marketing and Management (AIPMM) http://www.linkedin.com/in/cfsolomon