What is Product Management?

A Definition of Product
Management
“Product Management is the process of conceiving,
planning, developing, testing, launching, delivering
and withdrawing products in the market”

Internal: current teams, management

External: supply chain, market
Upstream: planning, development, launch
Downstream: ongoing lifecycle management
Product Management’s Purpose Is To
Create…

Customer Value + Measurable Business

Benefits
 IT CAN BE ACHIEVED BY
● By identifying unsolved Customer Problems
● To create product experience
● That outwit the competition over a sustainable
period
● By thinking differently
So what do Product Managers
do?

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Guiding product and market strategy
Product managers must Senior
managers
deliver value to the
business and play a Strategy Marketing
strategic role in
determining the actions to
achieve this.
Finance Sales
Product
But their role is also
hands-on and Manager
involves
Customer
collaboration with R&D
service
multiple internal
stakeholders
Production Operations

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9
● Product managers like to solve problems

● Product managers spend time understanding

their needs and wants
How a Product Manager sees it
The carpenter has a problem. He needs a hole in the wall. A
drill can solve this problem, but there’s much more to it than just
creating a hole. The carpenter is concerned with multiple factors:

The speed at which the hole is made

The accuracy of the cut
The safety of the device that makes the hole
The ease of using the device
The reliability of the device
Where the device can be purchased or accessed
The price of the device
After sales support of the device

Product managers define the problem using criteria such as

these before working on possible solutions
Product Management
in action

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Product Management Framework

Two Operational Modes:

Launch Ideate Product Development

Prepare
Explore Product Strategy and
Lifecycle Management
Product Strategy
and
Lifecycle
Management
Build Focus

Define Immerse
Lifecycle Product Management

Launch Ideate

Is The Starting Point.

Prepare
Explore
Product Strategy
and

‘Lifecycle Management’, Product Managers Lifecycle

Management

must: Build Focus

Grow product performance in the market Define Immerse

Monitor product performance

Report on the results
Respond to the
issues
Plan for the future

No product can survive by only doing without

adapting to changing market conditions.
Product Development

Launch Ideate

An area of focus for Prepare

many Product
Explore
Product Strategy
and
Lifecycle

Managers.
Management

Build Focus

Initiated when new ideas require Define Immerse

assessment and support from

development to launch.

Product and Market

Development initiatives help
extend the life of the product.
Product Development Process

3 Phases
Launch
1. Innovate
Prepare

2. Design
Build

3. Implement
Define Immerse
How does one get into
product
management?

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Becoming a Product
Manager
Become good at understanding problems and following
a logical process to define and develop solutions that
could solve these problems.

Read books and blogs, listen to podcasts and watch

videos to learn more about the Product Management
profession
Talk to Product Managers
Use principles of Product Management in your current role
Look at products and services that you buy & use and apply a
Product Manager’s perspective to these
Apply for jobs in Product Management
Dream big!
So to summarise

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In Summary

Good Product Management is about delivering

products that customers love.

Product Managers use logic, insight and a

degree of creativity in defining, developing,
deploying and maintaining these products.

Product managers must guide and collaborate

with other parts of the business and external
stakeholders.

Product managers have a duty to deliver

measurable benefits to their organisation.
THANK
YOU
Presented by -

Yash Duggal

Yashass Poojari

Anirudh