Product management is a critical component of the overall success of a business, particularly in the development, launch, and ongoing management of products. The role of a marketing manager in this process is to oversee all aspects of product management, including market research, product development, pricing strategy, marketing, and sales.
Market research is a crucial aspect of product management. A marketing manager will use various techniques, such as surveys, focus groups, and customer feedback, to understand customer needs and identify opportunities for new products and product improvements. This information is then used to inform product development and design, ensuring that the product meets and exceeds customer expectations.
Product development is a collaborative process that involves close collaboration between the marketing team, engineering and design teams, and sales team. The marketing manager is responsible for ensuring that the product is designed and developed to meet customer needs and business objectives. This may involve making decisions about features, design, and pricing.
Pricing strategy is another important aspect of product management. A marketing manager must work closely with the sales team to determine the optimal price point for the product, taking into account the target market, competition, and cost of production.
Ultimately, product management is about achieving the company's business objectives and ensuring on-time and within-budget delivery and customer satisfaction. The marketing manager plays a critical role in this process, working closely with other teams to develop and launch products that meet customer needs and achieve business goals.
There has been a lot of discussion about Platform Engineering lately. From being dubbed as the ‘next stage of the DevOps evolution’ to the ‘substitution of SRE,’ it stirred contentious conversations around the future of Ops. However, its scope, capabilities, and application now testify that neither of the two judgments is (completely) true. Together they ensure smooth software development and delivery, and issue-free run of production systems.
Businesses are drowning in data from all the systems that run their processes—from enterprise resource planning to supply chain management and all points in between. For most, this means these systems spend most of their time running in the background, collecting data but doing nothing with it. However, it’s possible to turn this massive stream of data into meaningful insights that can be actionable in real-time with Process Mining. Even though the name might sound complicated, the thing itself is not.
Business agility, resiliency, and productivity are the most important factors in determining the success of any organization, irrespective of its size. A well-charted Digital Transformation Strategy is a must to leverage the advancements of technology.
All the businesses that survive and thrive have one thing in common: the ability to be nimble. A successful business is business agile - it knows when to bend, pivot and change to accommodate forces by developing an Agile Environment. Business agility is adaptive, continuous, competitive, evolutionary and innovative in nature. And this is the step towards transformation.
A product roadmap visualizes and communicates the product plan including what and why of product building. Roadmap creation is often a huge topic for most organizations. This article is a continuation of my Product Management article series and talks about Product Roadmap and Customer journey.
My first article in the series talked about establishing Product Vision, Strategy, and Metrics. I gave bonus tips on building Product Vision, Strategy, and Metrics with a detailed example of LinkedIn product Vision strategy. In case you have missed it, give it a read here.
Digital Economy represents a departure from traditional service business model to shared value creation and deliver value continuously. As we are talking about creating transformative moments of success in Digital Economy, Product Management Mindset is a differentiator factor in Value Creation, Innovation, and Delivery.