Product manager (Productmanager)
Information on this skill...
A product manager is responsible for various activities related to product development. In short, we can best describe the work of a product manager as devising and realising new products and/or services. One of the most important tasks of the product manager is to optimally guide this process. In most cases, the product manager will work with multiple departments to achieve this. A product manager ensures that new ideas become reality. The focus of the product manager profession is on concept development and product development. Conducting market research with regard to new products is also part of the work of the product manager. A product manager is responsible for the entire product lifecycle, which includes development, marketing, quality assurance and financial results. Logistical issues are also generally part of the product manager's work. In addition, the product manager weighs other important factors against each other, such as demographics, competitive offer and the match between the product and company. The work of a product manager is important, because it is important for companies to develop products in the right way. In addition, the need for products must be estimated in the right way in order to achieve good results. As a product manager, you are therefore responsible for product development in a broad way. This means that the product manager will work together with different departments and managers to achieve the best result. It's not that product managers are solely responsible for coming up with physical products. A product manager may also be responsible for developing new services.
As a product manager, you are therefore involved in the entire product life cycle. A product manager is therefore involved in the process in all ways, so a product manager must have a lot of knowledge, because development goes beyond just coming up with new products. Devising and developing new products is usually only the first step, because there are even more important things that need to be researched and worked out. Think, for example, of drawing up and conducting market research and possibly consulting with the contract manager to arrange all legal matters in the right way. In addition, as a product manager you will usually work together with the business analyst. A business analyst is responsible for translating new business into usable solutions. Consulting with the sales manager can also be important as a product manager to determine how a product and / or service can best be put on the market. In general, the product manager will be part of a development team, in which the scrum methodology can also be applied. In that case, the product manager can also work as a scrum master. As described earlier, the work goes beyond just developing new products. As a product manager, for example, you are also responsible for the marketing of products. In that case, as a product manager, you will also have to deal with the marketing analyst and online marketers.
WHAT DOES A PRODUCT MANAGER DO
As a product manager you are responsible for all activities related to products. This means that as a product manager you are not only responsible for developing and executing product strategies. A product manager is also responsible for marketing, budgeting, and analyzing results. As a product manager, you are also responsible for determining the final price of products together with the marketing and communication department. Other activities may include following the latest trends. In that respect, the product manager can also be regarded as a trend watcher. In some cases, the product manager is also responsible for having promotional materials made or organizin trade shows to properly promote products. It is conceivable that a product manager will also approach various tech bloggers.
WORKING AS A PRODUCT MANAGER
The profession of product manager can be regarded as a versatile profession. It is a challenging and highly responsible position that requires a good understanding of the company, the products and the target market. He also requires excellent communication and analytical skills, and the ability to work with teams. In addition, you are also responsible for conducting market research. The profession of product manager mainly occurs within the larger companies that often also have to deal with a large selection. Developing a product or service is important for large companies. After development, a product manager may also be responsible for controlling production. Obviously, a product manager can also have other tasks. Not all product managers have the same job description
TASKS OF A PRODUCT MANAGER ARE:
- Managing project staff
- Evaluating certain results
- Implementing products
- Monitoring products and results
- Developing concepts
- Developing ideas into workable concepts
- Conducting market research
- Setting prices and budgeting
WHAT DOES A PRODUCT MANAGER DO:
TRAINING TO BECOME A PRODUCT MANAGER
If you aspire to a career as a product manager, it is best to opt for a bachelor's degree, in which product management is an important part. Think of the Hbo programme in commercial economics, the HBO programme in marketing management, the HBO programme in business management or the HBO programme in business administration. Some important areas of focus within product management are product development processes, business administration, economics, communication, brand policy and marketing communication strategy. Various training courses and courses related to product management are also offered by external trainers. Which education will fit best as a product manager also depends on the industry in which you wish to work. It is conceivable that a product manager must have a university degree. In addition, there are also plenty of external training institutes where you can follow a course. Accounting is also important as an entrepreneur.
COMPANIES WHERE A PRODUCT MANAGER CAN BE EMPLOYED
As a product manager you can work for various companies and organizations. This generally concerns companies and organizations that focus on commercial activities. Think, for example, of manufacturers, large small businesses, internet entrepreneurs and the food industry. In addition, a product manager may work for insurance companies, banks, energy suppliers or work for marketing agencies. As described earlier, a product manager can deal with different products. Products that can be classified as services are also included. In general, you will work as a product manager for the large companies and other types of organizations.
COMPETENCES PRODUCT MANAGER
As a product manager, you must have many different competencies, because you are responsible for product development in a broad way. The most important competence is still being able to analyze data, because this is important as a product manager. In addition, you have to deal with many different managers, employees and the board of directors. A product manager must therefore have good communication skills. Innovation is also an important word for a product manager. Another important competence is that you can be classified as a futurist. This is the case because a good product manager will keep a close eye on the market in order to discover new trends and opportunities. Networking can therefore also be very important as a product manager. Generally important words are inspiration, vision, control, motivation, decisiveness, anticipation, planning and organizing.
LABOUR MARKET PERSPECTIVE AND CAREER OPPORTUNITIES AS A PRODUCT MANAGER
The job market perspective as a product manager is generally fairly good, provided you have the right education and work experience. The profession of product manager is not a profession that occurs on a large scale and therefore will certainly not be accessible to everyone. The career opportunities as a product manager cannot simply be indicated because it is already a higher position. If you have a university degree, obtaining a PhD can be regarded as growing within your career.
TERMS OF EMPLOYMENT AND SALARY PRODUCT MANAGER
A product manager falls under the higher salary scale and earns between 3000 and 4500 euros gross per month depending on his age and responsibility. The salary can vary greatly per company or responsibility as a product manager.
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