Career Advice

Product Manager Job Description — Skills, Salary & More4 min read

January 4, 2020 3 min read
Product Manager Job Description

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Product Manager Job Description — Skills, Salary & More4 min read

Read­ing Time: 3 min­utes

Plan­ning to become a Prod­uct Man­ag­er? Are you good at prod­uct plan­ning & mar­ket­ing strate­gies? The prod­uct man­ag­er job descrip­tion includes col­lect­ing prod­uct and cus­tomer require­ments. As a prod­uct man­ag­er, you have to man­age the design, con­cept, sam­ple pro­duc­tion, test­ing, and forecast.

Addi­tion­al­ly, you have the respon­si­bil­i­ty for cost, design, mass pro­duc­tion, pro­mo­tion, sup­port, and final­ly prod­uct end of life. In short, the whole prod­uct life­cy­cle depends on you.

You also have to deal with sales, mar­ket­ing to ensure rev­enue and cus­tomer sat­is­fac­tion goals. The Prod­uct Man­ager’s job is to ensure that the prod­uct and mar­ket­ing efforts sup­port the company’s over­all strat­e­gy and goals.

Also, find the list of top 2020 high pay­ing jobs in India for fresh­ers & expe­ri­enced.

Product Manager Job Description — Responsibilities:

Typ­i­cal­ly, a Prod­uct Man­ag­er is respon­si­ble for prod­uct pric­ing, plan­ning as well as the exe­cu­tion through­out the Prod­uct Life­cy­cle. These respon­si­bil­i­ties include col­lect­ing cus­tomer require­ments, deter­min­ing the prod­uct vision, work­ing close­ly with engi­neer­ing, sales, and mar­ket­ing teams.

More­over, here is every­thing a prod­uct man­ag­er over­looks and holds respon­si­bil­i­ty for:

  • To estab­lish a long-term vision and strat­e­gy for the com­pa­ny’s products.
  • To deliv­er the same strat­e­gy to all of the appro­pri­ate par­tic­i­pants as well as stakeholders
  • Sat­is­fy customer’s needs and desires through exten­sive mar­ket research and data.
  • Estab­lish a prod­uct strat­e­gy and roadmap.
  • Deliv­er a month­ly rev­enue forecast.
  • Devel­op sales tools as well as collateral.
  • Acquire prod­uct strate­gies & pric­ing, eval­u­ate com­pe­ti­tion by com­par­ing products.
  • Gen­er­ate new ideas that grow mar­ket share, improve cus­tomer expe­ri­ence and dri­ve growth and rev­enue is your ulti­mate goal.
  • As a prod­uct man­ag­er, you have to see the scope and also pri­or­i­tize activ­i­ties based on busi­ness and cus­tomer impact.
  • Work close­ly with pub­lic rela­tions teams, exec­u­tives, prod­uct man­age­ment team mem­bers to deliv­er with quick results.
  • Eval­u­ate pro­mo­tion­al plans to ensure that they are con­sis­tent with prod­uct line strat­e­gy and that the mes­sage is effec­tive­ly conveyed.
  • Rep­re­sent the com­pa­ny by vis­it­ing cus­tomers reg­u­lar­ly for feed­back on com­pa­ny prod­ucts and services.
  • Pro­vides infor­ma­tion for man­age­ment by prepar­ing short-term and long-term prod­uct sales reports and analyses.
  • Brings new prod­ucts to mar­ket by exam­in­ing the pro­posed prod­uct require­ments and prod­uct devel­op­ment programs.
  • Man­age staff recruit­ing, select­ing, as well as train­ing employees.
  • Attend­ing relat­ed work­shops; going through pro­fes­sion­al pub­li­ca­tions; build­ing per­son­al net­works. With this, try par­tic­i­pat­ing in pro­fes­sion­al societies.

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Requirements & Skills: 

Most­ly, a prod­uct man­ag­er job descrip­tion will ask for a Bach­e­lor’s degree in Busi­ness, Com­put­er Sci­ence, Eco­nom­ics or oth­er relat­ed fields. How­ev­er, incli­na­tion might be towards a Mas­ter­s’s degree hold­er, prefer­ably an MBA. Apart from that, oth­er require­ments for a prod­uct man­ag­er might include:

  • Proven work expe­ri­ence & track record of man­ag­ing prod­ucts and oth­er aspects of a suc­cess­ful prod­uct manager
  • Excel­lent writ­ten and ver­bal skills
  • Great team­work skills
  • Sol­id tech­ni­cal back­ground with hands-on expe­ri­ence in soft­ware devel­op­ment and web technologies
  • Exper­tise at work­ing effec­tive­ly with cross-func­tion­al teams.
  • A strong tech­ni­cal back­ground, with N years of experience.
  • High com­mit­ment to work
  • Will­ing to trav­el when required

A Prod­uct Man­ag­er job requires exem­plary peo­ple skills, com­mu­ni­ca­tion skills, project man­age­ment & lead­er­ship qual­i­ties. And you should also be great at han­dling team & main­tain­ing a rela­tion­ship with both exter­nal & inter­nal parties.

Bal­anc­ing the diverse needs of a prod­uct man­ag­er entails stress man­age­ment and orga­ni­za­tion­al skills. Col­lab­o­ra­tion, team­work, and com­mu­ni­ca­tion are key to the release of a new prod­uct. The Prod­uct Man­ag­er must also have a bet­ter fol­low-through than any­one else.

The Prod­uct Man­ag­er job requires a sense of what will sell in the mar­ket­place. Addi­tion­al­ly, they need to pos­sess a sense of con­sumer behav­ior. Apprais­ing mar­ket trends as well as con­jec­tur­ing the approach of com­peti­tors is a sig­nif­i­cant part of this role.

Salary:

The aver­age salary for a Prod­uct Man­ag­er is more than INR 9 LPA. The typ­i­cal ten­an­cy for a Prod­uct Man­ag­er is 1–3 years. Besides, you should remem­ber that a prod­uct manager’s salary depends on a lot of fac­tors. The most promi­nent fac­tors among them are loca­tion, expe­ri­ence, and expertise.

Also, read about the salary of a prod­uct man­ag­er. As eco­nom­ic activ­i­ty takes its pace, the demand for prod­uct man­agers will only increase.

Tips For Product Managers

Prod­uct man­agers serve a crit­i­cal role at dif­fer­ent com­pa­nies, but good ones are usu­al­ly hard to find. More­over, they are con­stant­ly under the pres­sure to per­form to the best of their abil­i­ties. Prod­uct man­agers vary in terms of expe­ri­ence or skill set. So, here are a few tips to help you stay on top of your game:

  • Be a future vision­ary to pre­dict upcom­ing trends
  • Have an inno­v­a­tive approach with a vivid imagination
  • Become a jack of all trades
  • Mas­ter the tech­ni­cal know-how
  • Stay up to date with the lat­est tech devel­op­ments and indus­try news
  • Become well versed with met­rics and analytics

Last­ly, just remem­ber to give your­self time to work and adapt. It is cru­cial to under­stand not all prod­uct man­ag­er roles are the same. Each role demands its own set of unique approach­es and it main­ly depends on the kind of prod­uct that is involved. Look­ing after prod­uct sales and cus­tomers is an essen­tial part of the job.

As long as you have the prod­uct knowl­edge and con­stant­ly work on updat­ing your skillset, you will be able to make your prod­uct a success.

 

Anshi Agarwal is a Computer Science Engineer. She is specialized in Digital Marketing. She loves to do research & write content that is focused on Career, as well as, Job Search.
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