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The role of the product manager dramatically changed and become vastly more important in companies around the world in the last few years. It is now a vital role that many industries bring on board, such as software, consumer goods, and healthcare, among others, something that was mostly seen in the tech world. Even though product management is growing fast, many people still aren’t quite sure what product managers actually do. It’s common to hear questions like, “What does a product manager really do?” or “How can I switch to a product management career?”
It makes sense that there’s confusion because product management combines different skills—like strategy, marketing, design, and technology. It’s a mix of creativity and data-driven decisions, all while working closely with different teams. A lot of people in related fields, like marketing, engineering, or project management, are now interested in becoming product managers because the role is both challenging and impactful.
Product management now forms one of the most highly respected positions in companies, having gone from a supporting role a few years ago to now being a leadership role within the company. Today, product managers are no longer just overseeing or guiding products to be ready for launch or improvement; they are making big decisions that will indeed affect the company’s direction, how happy customers are, and the overall success of the business. Thus, companies need product managers, where the emphasis on digital products and customer satisfaction has increased and they have managed to become essential in products working fine, making customers happy, and helping grow the company.
Are you planning for a career in product management or thinking of making a move to this exciting field? Read this blog to learn what product managers do, the skills required, and how you can start your journey to becoming a product manager.
The product manager is, essentially the connecting bridge between the production team within the company and the product development team. It drives a product from idea to launch, not coding or designing the product itself, but ensuring that all producers of the product are aligned in what it should do and why it matters.
One might imagine a product manager to be at the same time a person who sees the big picture and is attentive to fine details. He might not be an expert in all aspects of the product, but he makes sure that any team-whatever it is, developer, designer, or marketer-knows what to do, why to do it, and even how their work relates to the final goal.
For example, creating a budgeting mobile app might result in the product manager defining what that app will be about, saying something like, “We’re going to make budgeting easy and accessible to everyone,” and communicating that vision to the development and design teams, and then working with marketing to get that message to the right people. The process, at any one point, involves checking in on an ongoing basis to keep the project aligned.
In short, a product manager ensures that the product is useful, marketable, and satisfies the strategic objectives of the company. It’s something that balances several interests—the customers’, the company’s, and the team’s.
There is no shortage of responsibilities in a product manager’s job description. However, every single role has to do with one thing: making sure the product is a success. Let’s deconstruct the key roles and responsibilities so that one can understand better what a product manager does on an everyday basis:
1. Defining the Product Vision
Every product starts as a vision. The product manager is the person who sets this vision. In other words, this means answering basic questions: What is the product supposed to do? Who is it for? Why would somebody use it? A vision gives the right direction on the purpose of the product and provides guidance in every single decision taken while developing it.
A great product vision acts like a lighthouse and guides even on the hard days. So, if one imagines a product manager building a fitness app, the vision would likely be that the app must feel simple, and friendly, and enable users to track their workouts with ease. Every feature and update will be evaluated against this vision to ensure the app stays on course.
2. Creating and Managing the Product Roadmap
Once the vision is clear, the next step is to build a roadmap. So, in short, it’s a game plan for the product. A road map would specify the development of how things will happen, which are the critical milestones, ensuring the whole team is on the same page about what needs to happen and by when. It is never rigid or fixed, but changes with the product, and helps everyone stay on the right track in terms of maintaining organization and focus on priorities.
Activities like “build core functionality,” “test the product with beta users,” and “prepare for public launch” can be decomposed into roadmap items. The product manager must ensure a realistic and attainable roadmap flexible enough to be adapted as new information becomes available.
3. Working with Different Teams
Collaboration is a huge part of a product manager’s job. Since they aren’t building the product themselves, they need to communicate effectively with people who are doing that. So they will be working very closely with designers and engineers, marketers, and even, at times, customer support teams. A product manager ensures that every individual understands the goals and is working together to achieve those goals.
For example, while developers are focused on writing code, marketers may be preparing campaigns for the product launch. The product manager ensures that both teams are aligned, so the product is ready when the marketing campaign kicks off.
4. Understanding Customer Needs
Most importantly, a product manager defines one of the roles: understanding people to be used by a product. The role, therefore, involves one conducting research, gathering feedback, and analyzing data about customer problems, needs, and desires. With this information in mind, a product is developed to solve real problems in users’ lives.
This would include conducting user interviews, administering surveys, or merely observing customer behavior through data analysis. For instance, if the users of a travel application generally drop their bookings, the product manager will be forced to find his way out by identifying what is wrong and then making changes on the way to improving the user experience.
5. Measuring Success
A product manager’s job does not end with the launch of the product; they are to measure how well the product performs against the established goals at the start. This is done by tracking success metrics, also known as Key Performance Indicators (KPIs). These might include user engagement, customer satisfaction, sales figures, or any other measure that shows whether the product is achieving its intended purpose.
For example, success in a mobile game may be about the frequency of use or time spent interacting with the game or how many times in-app purchases are achieved. These metrics are tracked by the product manager; the product does not move appropriately and thus, he or she works with the team on which areas need improvement and how these changes may be implemented.
Becoming a successful product manager requires a unique blend of skills. It’s not just about having technical knowledge or business acumen; it’s about being able to connect the dots between different teams, customers, and the overall product vision. Let’s break down the key competencies that help product managers thrive in their role:
1. Communication
Communication forms the very core of a product manager’s job. Therefore, product managers spend most of their time talking to various groups- be it the development team or stakeholders in the company, or indirectly, the customers who will use the product. The person should be able to clearly explain the product vision, and the progress, and make sure everyone is on the same page. Good communication can also help avoid misunderstandings and keep the project moving as agreed to ensure everyone involved knows what to do.
2. Problem-Solving
No product development process is without its challenges. Problems are bound to come up. They can be technical constraints, design-related worries, or even unforeseen requirements from the users’ side. Here, the product manager enters and sorts out the problems very effectively and quickly. He has to critically think about the situation and weigh all his options in hand before selecting the best one he could take to put the product back on track.
3. Leadership
While a product manager does not have the right over the people with whom he works, he is still a leader at the team level. They lead through influence, inspiring and motivating others to work toward a common goal. A product manager sets the tone for a team by creating excitement, hence focus and energy, as they work through problems and progress toward product launch.
Leadership in product management is about guiding the team, making thoughtful decisions that benefit both the product and the company, and creating an environment where everyone feels valued and driven to contribute.
4. Research and Data Analysis
Successful product managers rely heavily on research and data to make informed decisions. They need to have a strong understanding of the market, their competitors, and—most importantly—their customers. This means conducting research, gathering user feedback, and analyzing data to identify trends and opportunities.
5. Technical Understanding
While product managers do not necessarily need to know how to code, they do need a basic understanding of technology. This helps the product managers communicate better with the development team and understand ‘what is possible from a technical standpoint’. It also makes them make smarter decisions on the features as well as the limitations of the product.
A product manager is responsible for producing several very important documents and plans that help guide the team during the development process, keeping the product on the right track. Here are some of the key deliverables that product managers typically create and manage
1. Product Vision and Strategy
This is an important document that gives the whole picture of the product. It describes what the product is, who its target customers will be, and how the product will achieve its goals. The product vision works to be a guiding light for the entire team so people know what they’re working on and why the product matters. It helps guide the efforts of the team and sets up a clear sense of direction in the development process.
2. Product Roadmap
A roadmap is a detailed elaboration of how the development journey of the product may break down in terms of timelines, and key milestones or things to be accomplished. The roadmap is always a means through which the team can stay on track, showing them what needs to be done next while they ensure they are focusing on the most important work at the right time. It also serves as a tool to deliver progress to stakeholders and keep all parties in line with the planned goals and deadlines for the product.
3. Feature Specifications
Once the direction of the product is clear, the product manager creates feature specifications. These are detailed descriptions of what needs to be developed for each feature. They describe the expectation about what each feature should do, how it should behave, and all the technical or design requirements. This way, the development team understands the specific expectations from them with less confusion and certainly sure that everyone is on the same page before building the product.
4. Performance Reports
After the product is launched, the product manager’s job isn’t over. They must regularly check in and see how the product is performing in the real world. Performance reports include such aspects as user engagement, customer satisfaction, and revenue. Through such reports, product managers gauge whether the product is fulfilling the objectives or needs adjustments in some areas. Holding all these numbers in view, product managers can make data-driven decisions in improving the product over time.
These deliverables help keep the product development process organized, efficient, and focused on what really matters: creating a product that meets customer needs and achieves the company’s goals.
There’s no single path to becoming a product manager. People come from a wide variety of backgrounds, and each brings their own unique strengths to the role. However, there are some common experiences and knowledge areas that can help you get started:
1. Experience in Related Fields
Many product managers begin their careers in related functions, like marketing, engineering, or project management. A lot of learning from that is derived from such a role to understand how the different parts of a business fit together to create a product.
2. Understanding of Business and Customers
The business side of things like revenue and strategy must be understood as well as the customer side of things like needs and pain points. This is important to make informed decisions in the company’s best interest as well as that of its users.
3. Formal Education
Some product managers hold degrees in business or engineering, while others do not. A few have actually come from less conventional backgrounds as well. The most important aspect is merely possessing the knowledge and skills that help a person thrive in this role.
Becoming a product manager is a unique journey for each person, but there are some helpful steps that can guide you along the way. Here are a few practical tips to get started in product management:
1. Gain Relevant Experience
One of the best ways to prepare for a career in product management is to first gain experience in related roles. Project management, marketing, or software development, and so on are some good ones. These jobs develop the natural skills required in product management such as teamwork, problem-solving, and decision-making. For example, if one works in project management, one can learn how to coordinate tasks between different teams, and working in marketing will provide knowledge of customer needs and market trends.
2. Pursue Certifications
If you’re looking to build your skills and deepen your understanding of product management, pursuing a certification is a smart move. Certifications can teach you the basics, such as product strategy, roadmapping, and user research, and help you gain confidence in your abilities. Plus, they make you more attractive to potential employers. Many online platforms and universities offer certifications that you can complete while still working in your current role.
3. Network with Product Managers
You can connect to existing product managers. From networking, you get to understand first what the job really is. Ask them questions. You would get advice from them. Attending industry events, online communities, or even contact product managers on LinkedIn might just open up the opportunity for mentorship, and you could build connections that would lead you to future job opportunities.
4. Stay Curious
Product management is all about solving problems, which means there’s always something new to learn. Stay curious and open to new information, whether it’s learning about new technologies, studying how other companies build products, or keeping up with changing customer needs. The more you stay curious and adaptable, the better prepared you’ll be to handle the challenges that come with product management.
By following these steps, you can gradually build the skills, knowledge, and connections you need to transition into product management. It may take time and effort, but with persistence and curiosity, the journey can be both rewarding and achievable.
Salaries for product managers in India vary depending on experience and location. Here’s an idea of what you can expect at different stages of your career (based on data from PayScale India):
While these numbers provide a rough idea, actual salaries can vary based on the company, industry, and location.
(Source: Glassdoor and Payscale)
Product management is a role that combines strategy, collaboration, and decision-making to create products that succeed in the market. Whether you’re looking to transition into the field or are already on the path, focusing on building communication skills, problem-solving abilities, and a strong understanding of your customers and market will set you up for success. By leading with a clear vision, guiding your team with purpose, and continuously learning, you’ll be well-equipped to thrive as a product manager in any industry.
Becoming a Product Manager is a rewarding career path with many growth opportunities in product management. If you’re looking to start your journey, consider the courses offered by Institute of Product Leadership (IPL). IPL provides an on-campus UGC-accredited Executive MBA in product management degree program and live online product management courses to help you build the necessary skills and network to succeed in this field. With the right skills and mentoring you can successfully navigate your journey to becoming a product manager in 2024.
A product manager is responsible for overseeing the development and success of a product. They define the product vision, create a roadmap, and work with various teams to ensure the product meets customer needs and business goals.
Key skills include communication, problem-solving, leadership, and the ability to analyze data. A basic understanding of technology and how products are built is also important.
Gaining experience in related fields, pursuing certifications, and networking with other product managers are good ways to start. Staying curious and continuously learning is also key to success in this role.
Depending on experience, product managers in India can earn between ₹8 lakhs-₹40 lakhs and above annually.
A product manager’s responsibilities include defining the product vision, creating and managing the product roadmap, collaborating with teams, conducting research to understand customer needs, and tracking the product’s performance.
