Various definitions of product management have been floating around for more than two decades now. In fact, product managers themselves may have varying definitions of product management.

Martin Eriksson’s representation, though overused, remains extremely relevant to the present day. The product manager’s role oscillates between gathering customer needs/wants, aligning business objectives, hand-in-glove relationship with the tech and design teams; and extensive data crunching. Product managers can perform these roles by interacting with business stakeholders or meeting users directly. He can also do market analysis, competitive analysis, derive impact of product changes and more.

“A product manager is essentially a person who is tasked with identifying the customer needs and the larger business objectives that a product or feature will fulfill, thereby articulating what success looks like for the product, and drives the team to turn that vision into a reality.”

In our earlier published article, we have addressed the key questions one may have in product management. Here we will cover the myths, core values, methodologies, and scope of product management.

Myths about product management

Over the years several myths about the function have surfaced. It is influenced by the fact that there is no exact definition and job description of Product Manager or PM. Some of these myths are listed below –

PM is CEO of the product – Unlike the CEO, a PM gets pulled in all directions by various stakeholders. The PM commands minimal authority as the stakeholders try to incorporate their own suggestions into the product. Even the team the PM rallies, do not report to him/her. Hence the reality is far from this loosely thrown moniker.

PM should be creative – The primary role of the PM is to solve the customers’ problems. It is their responsibility to pull all the strings together to deliver a quality product. So rather than having abundant creativity, a PM must pay attention to all minute details.

PM should be a visionary – The PM looks for the most efficient way to solve customer’s problem. He doesn’t go deep into the future problems or solutions the customer may face or need. It is futile to expect a prediction of exact date and time of migration of entire Web 2.0 to Web 3.0 from a PM.

PM needs to make every stakeholder happy – The only person a PM should look to make happy is the customer. It doesn’t matter whose suggestions and needs get more priority as long as the customer is happy. Due to this, many times some key stakeholders will not be happy. But a PM must always look at the ultimate goal.

PM must know coding – Technical knowledge does help when allocating tasks and assigning timelines. But that doesn’t mean only software engineers can be exceptional product managers. You can do very well without knowing how to code via the help of various software tools.

Product Manager and Project Manager are the same – Product Management and Project Management are loosely interchanged in corporate parlance but essentially, they are worlds apart.

Some common methodologies/models in product management

Agile

The idea is to set product strategy and create product roadmaps in an agile environment. Agile methodology encourages an adaptive approach to product planning and implementation. It enables organizations to quickly respond to feedback and build products that customers love. At its core, agile product management is a response to the widespread use of agile software development methodologies. These methods emphasize evolutionary development, early delivery, and continuous improvement.

Scrum

Scrum is a type of agile development methodology. It is used in the development of software based on an iterative and incremental process. It is an adaptable, fast flexible, and effective agile framework used during development.

Scrum delivers value to the customer throughout the development of the project. It creates an environment of transparency in communication, collective responsibility, and continuous progress.

Waterfall

Waterfall model can be best put as a linear product management approach. Here the PM creates a sequential project plan after gathering stakeholder and customer requirements at the beginning of the project. It is named the waterfall model because each phase of the project cascades into the next, flowing steadily down like a waterfall.

General Structure of Product Manager/Product Owner Squad

The basic structure of the Product Manager Squad remains the same despite having a fluid headcount.

• The Scrum Master handles picking up the tasks for the developers and designers and clearly capturing them in time bound sprints.
• The Business Analyst helps in writing user stories that are captured in product management tools like Jira. They also help with data crunching – market and competitive analysis, how the changes in the product are faring, etc.
• Then there are development team members – the ones working on the front end, back end, and middleware. They comprise of Developers, Testers, Solutions Architects and DBAs. The profiles of developers vary according to their expertise in specific technologies.
• And last but not least comes the creative lot – the designers. They comprise of Design Architects, UX Designers and UI Designers.

Now these team members could be working on the payroll of the product organization, or they may be outsourced.

What makes a great Product Manager?

Before deciding what makes a great product manager, we need to understand and appreciate their role. A product manager’s role is truly a people’s role that involves taking inputs/ buy-ins of numerous stakeholders and getting work done through multiple team members.

Hence, we can say that although technological know-how/ core competencies are imperative, the one skill that really distinguishes good product managers from great ones is – stakeholder management.

And if one wants to shift organizations for personal growth, the following aspects must be looked at with great detail:

• The current stage of the organization – introduction/ growth/ maturity/ decline.
• Industry analysis– which sector the company operates in. The learnings in one industry will vary from the other. Hence the decision to shift should be made by weighing the learning trajectory and not just the compensation on offer.
• Culture fit– All companies have different ways of working. What works for one product manager might not work for the other and vice versa. Look into the company philosophy and vision.

Thus, we can argue that it’s the “product management mindset” that helps you grow in this profession rather than just having skills.

A glimpse of popular tools used by product managers worldwide

There’s no dearth of online tools which can life easier for any role nowadays. Here are a few common tools to meet the common needs of a product manager.

What is MVP and its significance beyond the set features?

Of all the milestones in the career span of product managers, the MVP is arguably the most important milestone.

Minimum Viable Product (MVP) can be graphically represented as below:

This graph takes the assumption that customer expectations remain static with time, which usually is not the case. All the skills, tools and methodologies are applied to arrive at this milestone. It further lays the foundation for incremental features in the product.

A timely MVP is hence the validation of all the inputs at play. These are – stakeholders’ inputs, market research and data crunching done to arrive at handpicked features, the effectiveness of the design and development teams, and of course, the dexterity of the omnipresent PM. A great MVP is reflection of a team which is working like a well-oiled machine. It is bound to achieve great heights with its vision and execution capabilities.

Product management: eternally relevant

With the increasing adoption of tech in all spheres of life, the relevance of product management will continue to grow. As we can see, traditional companies continue to invest in and augment their digital infrastructure. Top tech companies are pivoting their business strategies. The final execution of all these responsibilities comes on the shoulders of the product management team.

Just as brand management is an amalgamation of several skill sets, so too is product management. It calls for an understanding of consumer behavior, market trends and the role of technology in solving consumer pain points and meeting their needs. Given the central role of digital experiences in our lives, the relevance of a specialist role like product management will only increase.

A decade or two ago, it was common for engineers or graduates to complete their MBA and then take up a career in Marketing or Finance. Several industry leaders in these domains have come through this path. The explosive growth of IT services and followed by digital solutions has opened up new career opportunities in software engineering, design, quality assurance, and so on. In the world of digital solutions, the role of a Product Manager, Product Lead, or CPO has come into focus over the past few years.

As a digital transformation company, we at Robosoft have product management specialists in our team working closely with counterparts at client companies. So if you are considering a career in product management, this article attempts to answer a few key questions that you may have. In this article we are referring to Product Management from a digital experience perspective – be it a mobile app on a phone, a Smart TV app that is typically accessed via Firestick or Chromecast, or even a website.

What is Product Management?

A web search on the topic would result in videos and articles outlining a few common things: that despite the practice being around for a couple of decades there is still some ambiguity on what it’s all about. In 2012, Ben Horowitz, the legendary venture capitalist described a product manager as the ‘CEO of a product’. However, that may give connotations of an all-powerful role that has the power to be the final authority on every aspect of a product. According to Product Plan, Product management is the practice of strategically driving the development, market launch, and continual support and improvement of a company’s products. The role is pretty similar to brand management in consumer goods companies, specialized by giants such as Proctor & Gamble, Unilever, and others.

In 2019, Sherif Mansour, Distinguished Product Manager at Atlassian, an Australian company that develops products for software developers, project managers, and other software development teams, shared this video which could be a great place to start in terms of giving a perspective on various challenges of a product management role.

[su_youtube url=”https://www.youtube.com/watch?v=yUOC-Y0f5ZQ”]

Another starting point would be read to this series of tweets from Shreyas Doshi who is considered an authority in this space. As Syed Abbas, our Principal Digital Consultant says ‘A great product manager ensures that all team members work harmoniously towards achieving the product vision. The key responsibilities include setting the long term vision and strategy, ensuring user engagement, satisfaction, and monetization’. In other words, product managers are responsible for the end-to-end product experience for users.

Why has Product Management gained prominence of late? Is it a fad or does it offer a long-term career opportunity?

The rise of Product Management as a career option can be linked to the uptake in the use of digital experiences by consumers and the rise of tech startups. Over the last few years, and accelerated fuelled by the COVID-19 pandemic, consumers have resorted to digital options for their day-to-day needs – be it banking, payments, hailing taxis, watching movies, or connecting on social media. Using digital products has become a way of life for a large section of society across the globe. Enterprises believe that their business success depends on the quality of their digital experience. Hence there is a premium on talent which can drive great product experiences.

Media too has celebrated the success of brands created for the digital world. Paytm, Netflix, Amazon, GoJek (an Indonesian SuperApp), Facebook, Hotstar, Twitter, Dunzo, WhatsApp are just some of the brands which get wide coverage for offering great product experiences. Companies too have given visibility for their product management teams, acknowledging them as key players in business success. As we increasingly depend on digital products to get things done or entertain us through streaming or gaming, the discipline of product management is not a fad and here to stay. Tech-enabled or tech-focused start-ups and established businesses such as CRED, Dream11 among others offer an attraction as a career option as opposed to the old practice of moving to marketing or finance after completion of an MBA.

Are there college courses available? How can I formally learn about Product Management?

As of now, there are no college degrees in product management. However, specialist online platforms such as The Product School and many other ‘EdTech’ brands such as UpGrad, Udemy, or UpGrad offer courses in Product Management (links offered for reference only and not an endorsement). You can read about the courses and choose to opt for a relevant one.

What are the skill sets required to be a good Product Manager?

Before we speak about skill sets, let us what Product Managers typically do. They:

• Define what we should build and why
• Partner with software engineering, UX, and cross-functional stakeholders such as legal, sales, and marketing to ensure that the product or the feature is built
• Evangelize the product with a clear vision internally and externally
• Define success metrics, goals for the team, and act as the user voice for the product

It is important to understand that Product Managers often need to thrive in ambiguity. They need to do tightrope walking by understanding users as well as team partners, the engineering challenges, and time constraints.  This 2017 video ‘20 Years of Product Management in 25 Minutes by Dave Wascha’ is a good watch on key aspects of the role.

[su_youtube url=”https://www.youtube.com/watch?v=i69U0lvi89c”]

So the core functions of a product manager include:

• Be the voice of users in decisions that affect the product roadmap and experience
• Hypothesize and then prioritize what users want the most
• Ensure your product and/or features are aligned with business goals
• Have a vision for how the product looks and evolves
• Make sure the team understands what to build, who to build for, and why
• Be the glue that binds all teams (UX, marketing, sales, etc)

A common mistake is to mistakenly equate product management with program management. Product managers define, scope, and focus on WHAT the end-to-end experience should be while program managers track dependencies, and ensure that the product is delivered on time.

Should Product Managers be experts in software engineering too?

In Product Management, there could be two aspects: technical side as well as pure ‘consumer product management’. The former comes with an Engineering or Computer Science background. They are typically involved from the strategy development till the execution and final launch of the product. They oversee end-to-end execution till the launch of a product by managing the design and the engineering team. The latter usually have a Design and Business background. They tend to be experts in identifying business and consumer needs by working very closely with them, identification of pain-points, developing personas, creating end-to-end user journeys, and product road-mapping.

Either way, good product managers must understand enough ‘tech’ to speak confidently and partner with the engineering team, to make them understand what they should be building. They should have a good grasp on tech to understand what can be done (aka “is this even feasible?”). Product Managers are expected to describe and understand the trade-offs involved and make necessary changes to the product. Product Managers should also understand data; they should take a data-driven approach in identifying areas of improvement or the next big opportunity for the product.

Shreyas Doshi captures some of the skills required thus:

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Is Product Management a career option for all or only for a certain kind of aptitude?

Before you consider a career in Product Management ask yourself: Are you passionate about understanding what problem a business is trying to solve and for whom? Do you put yourself in the shoes of the user, empathize with what they want and how that improves the product? If so you could pursue this discipline which has great potential for growth.

Shreyas Doshi has a great summary on the scope for growth:

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Some of the traits which may be useful for growth in this discipline would be:

• Ability to break down a problem into smaller parts. Remember, this is not a job about you building a bridge yourself but knowing what it takes to get a team to build one which consumers love
• Understanding what’s important for the consumer and then be able to whiteboard ideas, jam with the UX team
• Be creative; this is a job that solves problems and calls for innate creativity. It doesn’t mean that you have to design skills but an ability to think of unusual, unexpected ingenious solutions
• Strategic — constantly evaluate the competitive landscape, and think about the product advantage
• Have a strong handle on the economics of the business and user dynamics
• Influence people to go after high impact ideas
• Be the leader — prioritize, get resources to build things that matter to users; and ruthlessly say no to things that don’t add value to the business or the consumer needs
• Message your product and help users use and understand your product or feature easily
• Most importantly, curiosity and a growth mindset

How can I find a job in product management if I don’t have experience? 

It is generally believed that MBAs typically have the right skillsets for product management with an inkling for processes, logical thinking, GoToMarket skills, and customer management. Product Management is a natural fit for those with some experience in Business Analysis. Even if you are a fresher you can start in program management and progress towards product management. More importantly:

Learn: Read about products, be curious about what makes them successful and how they evolve. Portals such as Product Hunt and articles on product management at Medium can be a good start. A simple search for Product Management on YouTube can also give you many useful videos. You can also follow Twitter lists on ‘Product management’. Meet and learn from experienced product managers – ask them what their day looks like, what problems they think about, and what challenges they face in solving them. Books such as Art of product management, The design of everyday things, Creative confidence, and The lean start-up are some books to start off.

You can also proactively think of a problem you want to solve and ideate a solution. Another interesting act which manifests your passion for the discipline is to intern as a product manager in an enterprise.

At Robosoft, our Product Managers work closely with enterprises that already have product teams of various sizes and skills. As a full-service digital transformation company, we definitely see vast potential for product management as a sought-after skill in the years to come. After all, it is the product experience that makes the enterprise.