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PM career conversation_v3
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- 2. Agenda • What isProduct & product lifecycle? • What does a Product Mgr.(PM) do? • Key responsibilities • Typical PM interviews • MBA Courses that can help • IT vs Non-IT PM roles • Getting read for PM interview • Recommended resources
- 3. What is aProduct? 1 • Product: “A term used to describe all goods, services, and knowledge sold. Products are bundles of attributes (features, functions, benefits, and uses) and can either be tangible, as in the case of physical goods; intangible as in the case of those associated with service benefits; or can be a combination of the two.” • Products are created by businesses to sell to other businesses (business-to-business, or B2B) or to consumers (business-to- consumer, or B2C). • Product can be IT, non-IT
- 4. Hierarchy of Products& services1 • Product line: Collection of related products • Solution: Related products & services • Portfolio: Collection of product lines
- 5. Who is aProduct Manager? • Product Management is business management at the product, product line, or product portfolio level • The product manager is a person appointed to be a product or product line “mini-CEO” or general manager. • The product manager leads a cross-functional product team. • The product team’s responsibility is to optimize the product’s market position and financial returns, consistent with corporate, business unit, or division strategies • Product manager converts “good ideas” into successful products • Applies to IT and Non-IT both
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- 7. Key responsibilities • Inboundvs Outbound responsibilities • P: Product: What to build • Work with design & development to explain requirements • Define UX • Feature prioritization • Vision/Roadmap • P: Price: How much to Price • Based on STP • P: Promotion, P: Place • Launch planning and management (GTM) • Partner management: training, branding
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- 9. Growth path inPM PM track • Junior: PM, PM2 (Fresh MBA thru 5-6 years) • Senior: Sr. PM (>7-8 years), Principal (> 10-12 years) • PM People manager, Director, VP, Head of Product, CPO • Other growth options • PMs have experience managing cross-functional teams by influence • Heading a BU, GM, CEO • Examples: Sundar Pichai, Satya Nadella, Shantanu Narayen(Adobe), Marissa Mayer (Yahoo) • Sales/Marketing roles • Product consulting
- 10. Typical PM interviews •Product Case study questions • Test of structured thinking • Favorite product: Why? What will you improve in that? • Build a new product to solve a problem • Add a new feature in existing product • Uber for senior citizens • Mobile app for restaurant chain • Enter a new market for an existing product • Guesstimate questions • Estimate the number of autos near IIM • How much money does Google make form Gmail? • Analytical skills • Making sense out of huge data • Given the Google search terms for a certain period
- 11. MBA Courses thatcan help • Marketing • 4P, 5Cs, STP, Laddering • B2B marketing • Brand management • Marketing research • Surveys, Segmentation etc. • UX/Design, Design thinking • Business analytics • Regression, Factor analysis etc. • New product development or Product management • Ideation to GTM • Finance • NPV, projections • Some strategy • Competition, M&A, GTM/Market-entry
- 12. IT product management •IT Software, hardware & services • App on Android, ios, Windows • Database, ERP, CRM, OS • Standalone or as Cloud SaaS • Phone, PC, Router • Train booking, Bus booking services, Cloud PaaS/SaaS/IaaS • IT for Non-IT companies • Digital business, marketing • Big Recruiters • MNCs • Amazon, Adobe, PayPal, Google, Microsoft, Cisco, Juniper, Intuit, Expedia, Uber, Walmart labs • Indian • Flipkart, Snapdeal, Myntra, Jabong, Cardekho, Yatra, Makemytrip, Ola, Practo, naukri.com
- 13. IT PM samplejobs from iimjobs.com (links might expire) • PM: Paytm • PM: Amazon • PM: Cisco • PM: AMEX • PM: Intuit • PM: Cardekho.com • PM: Jabong • PM: Limeroad • PM: Digital roadmap for Genpact • PM: Digital business for ABP group • PM: Banking & Digital payments for Tally
- 14. Typical roles atbig IT firms* Inbound Defining features and requirements Building roadmaps Release management Project management Sales & support training Building roadmaps Go To Market Competitive study Positioning and messaging Naming and branding Customer communication Product launches Press and analyst relations Outbound Amazon TPM Amazon Product Mgr. Microsoft PM Microsoft PMM Cisco/FK/ Google/ Intuit Program Mgr. Cisco/FK/ Google/ Intuit/Yatra/Expedia/ Adobe/Practo Product Mgr. Microsoft EM Solutions HCL/Accenture /TCS/TechM Product Mgr. *Subject to change
- 15. Non-IT product management •Banking/Finance • Credit-card PM: Managing rewards program, partner tie-ups, merchant tie-ups etc. • Fintech: Managing partners, marketing: Paytm, Western Union • PM: Retail and SME General Insurance products e.g. IndusInd Bank • Investments: PMS, Mortgage • Retail • Responsible for product(s) e.g. • Supply-chain, Back-end/SCM • Analytics • Data Analytics & Insights e.g. AMEX • Research & deal sourcing e.g. Tracxn • Analytics Products • Others • Building materials PM: Interact with contractors and customers so as to understand product needs • Healthcare, Pharma: Manage the brand portfolio
- 16. Non-IT PM samplejobs from iimjobs.com (links might expire) • PM: General insurance • PM: Building material industry • PM: Healthcare • PM: Home loans & mortgage • PM: Pharma • PM: Glass MNC • PM: Car retail finance • PM: Equipment manufacturing • PM: Fintech • PM: BFSI, MF
- 17. Getting ready IT • Yourresume should showcase experience: product, analytics & domain • IT services people: If they have worked on product for a client or domain expertise • Technical: prep on things on your resume: architecture, Non-IT • Resume should show domain expertise and some product experience IT/Non-IT • Read a lot of stuff • Techcrunch, Quora, ET, Podcasts: TechNews • Write a blog atleast once a month • Sharpen product thinking, Play with products, form opinions • Apps, websites • Observe UX • Products you liked, disliked • Build on domain • Keep facts in memory • Revenues, # downloads • Discuss, debate, share thoughts with peers 17
- 18. Resources • Books: • Productmanagement handbook • Cracking PM interview • Product management desk reference • Lean start-up: Eric Ries • Lean analytics • UX for Lean Startups • Inspired: How To Create Products Customers Love • Videos • The Art of Product Management with Sachin Rekhi, Wharton https://www.youtube.com/watch?v=huTSPanUlQM • 16 Killer videos on Product Mgmt. essentials • https://userbrain.net/blog/12-killer-product-management-videos • Design thinking by Tim Brown, IDEO • https://www.youtube.com/watch?v=U-hzefHdAMk&t=152s • Others • KPIs for apps • Guestimate Q’s 18
- 19. More Online resources •www.productmanagerhq.com • The Top 12 Product Management Mistakes • The Product Manager’s Essential Reading List of 2016 • The Famous PM Reading List on Medium • The Past and Future of Product Management • http://www.crackingthepminterview.com/ • The Art of Product Management (author Jackie Bavaro’s blog) • What distinguishes the top 1% of product manager’s from the top 10%? • Good Product Manager, Bad Product Manager (Ben Horowitz) • How to Hire a Product Manager (Ken Norton) • The Art of Decision Making as a Product Manager (Sachin Rekhi) • 3 Reasons Better Products Don’t Always Win (Sachin Rekhi) • What I Look For in a Product Manager (David Lifson) • Be a Great Product Leader (Adam Nash) • Getting Hired: How to Get a Job in Product Management • The Product Manager Handbook (Carl Shan, Brittany Cheng) • The Art of Delivery (Ibrahim Bashir) • The PM Interview (Raphael Korach) 19