How to become A Product Manager

• Product Development Manager
• Product Design Manager
• Associate Product Manager
• Technical Product Manager
• Growth Product Manager
• Strategy Manager
• Product Marketing Manager
• Project Manager
• Program Manager

What do Product Managers do?

A Product Manager would typically need to:

• Define, develop, and deliver a successful product by aligning customer needs with business goals; guide the product life cycle from concept to market
• Collaborate with stakeholders to identify evolving customer expectations and develop a vision for a product that can successfully meet those expectations
• Conduct market research to optimise the product; analyse potential opportunities and challenges; assess competition and customer response to the product
• Use competitor price points, product-market valuation, and customer opinion to set up product pricing
• Unfold a strategy to direct product creation and distribution and manage the staff responsible for them
• Identify and set product goals; establish KPIs (key performance indicators) to evaluate product quality at every stage of product life cycle
• Develop a roadmap outlining the product’s features and functionality to be released over a given time
• Assist the development team in creating and prioritising backlog features and functionality as per customer needs, business objectives, and technical feasibility
• Engage in cross-functional collaboration with the design, development, finance, marketing, sales, and customer support teams to ensure successful product development, launch, and promotion
• Offer short- and long-term product reports proposing approximate product reception and sales figures
• Review and modify inventory levels and production schedules to ensure the product is available when needed
• Provide regular updates to and get periodic feedback from relevant stakeholders such as customers, internal teams, and senior management
• Brief the investors on product successes, failures, and optimisations made; recommend future initiatives based on the reception of current products and market interest in related products

Product Managers work out of comfortable, well-lit offices. Remote work is becoming increasingly possible. You will collaborate with cross-functional teams and multiple stakeholders to complete challenging and time-sensitive tasks. Domestic and international travel may be a requirement for meetings, site visits, and conferences, depending on your organisation and location.

Product Managers usually keep regular business hours but may work evenings, weekends, and holidays to meet deadlines, attend meetings, and keep up with production schedules.

Research suggests that flexible hours and generous telework policies appeal more than salary to the younger generation. There has been an incremental increase in employers willing to give promising employees a chance to adjust their schedules per the job demands.

Finding a new job may be challenging. Product Managers can boost their job search by asking their network for referrals, contacting companies directly, using job search platforms, going to job fairs, leveraging social media, and inquiring at staffing agencies.

Product Managers are generally employed by:

• Digital Consumer Companies
• SaaS Companies
• E-Commerce Firms
• Internet & Web Services
• Computer Hardware Development
• Information Technology Support Services
• Enterprise Software & Network Solutions
• Banking & Finance Companies
• Transportation Equipment Manufacturing
• Financial Transaction Processing
• Aerospace & Defense
• Healthcare Facilities
• Broadcast & Cable TV Networks

Professional associations and organisations, such as the Product Development and Management Association (PDMA), are crucial for Product Managers interested in pursuing professional development or connecting with like-minded professionals in their industry or occupation. 

Professional associations provide members with continuing education, networking opportunities, and mentorship services. Membership in one or more adds value to your resume while bolstering your credentials and qualifications.

• Successful coordination of business goals, resource constraints, heavy deadlines and market demands
• Strong communication and negotiation skills required for complex cross-functional collaboration 
• The high likelihood of being held responsible by senior management for crises or failures despite a lack of adequate resources and control over a project
• A constantly evolving job that needs one to adapt and stay ahead of innovative competitors while managing the expectations of various stakeholders
• Tendency to prioritise product design, development and fixes instead of recruiting, upskilling, and retaining high performers who can ensure product success
• Inaccurate product decisions based on unreliable or unstructured customer satisfaction data
• Improper use of consumer data due to a lack of relevant data strategies and disregard for standard website tracking and data protection laws
• Lack of adequate finance training to get a proper understanding of the product’s financial impact
• The need to keep up with the latest technology trends despite a lack of time and clear vision 
• Extended time spent performing monotonous tasks
• Toll on physical and mental health due to a lack of work-life balance

Pre-entry work experience shows potential employers that Product Managers have some of the required skills and an interest in the field.

Even while in high school, you can check with a teacher or counsellor about relevant work-based learning opportunities available in your school or community to connect your school experiences with real-life work. Join entrepreneurship, business, innovation, student government, public speaking, and debate clubs to gain skills to help you become a successful Product Manager. 

Learn about basic programming and web development while getting to know technology trends. You can now develop a website, create a mobile app, or organise a community event to practice your creative, problem-solving, and leadership skills. Take online courses, attend workshops, and read industry publications to learn more about product management. 

Contact experienced Product Managers for informational interviews. Begin documenting your projects, achievements, and leadership experiences in a portfolio, which can prove handy when applying for postsecondary education, internships, and jobs. 

If they can intern or volunteer in the technology, business, marketing, sales, or product development industries, aspiring Product Managers will get invaluable hands-on experience. In addition to benefiting from tasks outside the classroom that align perfectly with lessons inside it, interns may also earn college credits that help with early graduation, GPA, and tuition. Besides, you may hear countless stories from more experienced colleagues who can turn seemingly routine incidents into unique learning moments. Sometimes, internships can lead to permanent employment.

Your career path may differ based on the industry and company you choose to enter. Choose an entry-level position as a project manager or junior/associate product manager in a field you can work in consistently. You can also specialise and gain experience in specific stages of a product’s life cycle, such as graphic design, copywriting or market research. 

A few years of experience in a marketing or sales role will prove your ability to develop and market products in ways that meet or exceed employer expectations. Five years of experience as a technical lead or engineer will also give valuable insight into how a company works and help build useful contacts. Close association with an experienced Product Manager will offer a better understanding of the different types of product management roles in the job market.

The experiences may also help determine whether the public, private or voluntary sector is best suited to realise one’s ambitions. Your educational provider’s career service department can provide information about viable work placements, internships, and voluntary work opportunities in diverse sectors.

Aspiring Product Managers require a bachelor’s degree in marketing, business, economics, finance, computer science, supply chain and operations management, statistics, advertising, or communications. You can also pursue a business administration program, including product management as a specialisation or course. 

Though not mandatory, some employers may prefer candidates with a master’s in product management and a better understanding of advanced strategies and hands-on applications. A multidisciplinary MBA (Master of Business Administration) degree with a concentration in product management can also strengthen your resume. In addition to advanced leadership and management skills, you will build a strong foundation in product management principles. You may need a specialised degree to work in an industry such as engineering, technology, or agriculture. 

Short and cost-effective online certificate courses in product management allow students to learn about strategy building, product launching, and leveraging user research to understand customer preferences. You can apply for entry-level Product Manager positions after obtaining the certificate.

Another popular alternative to college education is a product management boot camp from a reputed education provider. The intense short-to-medium-term programs teach strategic thinking, data analysis, communication, and presentation skills. Students will also learn about tools such as Jira, Excel, and Agile Methodology.

Recommended high school courses include mathematics, business, economics, finance, accounting, computers, marketing, entrepreneurship, social science, and foreign languages. English and speech classes will help you develop your research, writing, and oral communication skills. Science and coding classes can build problem-solving skills.

Remember that completing a particular academic course does not guarantee entry into the profession. Be that as it may, professional qualifications and transferable skills may open up more than one door.

Do your homework and look into all available options for education and employment before enrolling in a specific programme. Reliable sources that help you make an educated decision include associations and employers in your field. 

Certification demonstrates a Product Manager’s competence in a skill set, typically through work experience, training, and passing an examination. Successful certification programs protect public welfare by incorporating a Code of Ethics.

Certification in product management, marketing, business analytics, innovation and product development, and project management from an objective and reputed organisation can help you stand out in a competitive job market and carry a significant salary premium of up to 18 per cent. An Agile certification will add further value to your resume. While Product Managers do not require a licence to work, they must know about industry-specific regulations that apply to the products they manage.

Product Managers may also need to undergo an employment background check, including but not limited to a person’s work history, education, credit history, motor vehicle reports (MVRs), criminal record, medical history, use of social media, and drug screening.

As a Product Manager, you may find multiple paths to advance your career. Choose what aligns with your professional interests and ambitions.

You can become a Lead Product Manager, Senior Product Manager, Product Marketing Manager, or Product Marketing Coordinator in your current organisation or move to a larger company with better opportunities for career growth. At this point, one may be promoted to senior management positions, including Group Product Manager, Vice-President of Product Management, Director of Product, or Chief Product Officer, after gaining significant experience. Starting your own product management consulting firm is an alternate option if you have a business mentality, a robust network, and adequate funds. 

The desire to accelerate career growth and personal development has an increasing number of millennials choosing to job hop and build a scattershot resume that showcases ambition, motivation, and the desire to learn a broad range of skills.

Studies prove that job hopping, earlier dismissed as “flaky” behaviour, can lead to greater job fulfilment. Employees searching for a positive culture and satisfactory work are willing to try out various roles and workplaces and learn valuable, transferable skills along the way.

Empathetic Product Managers who can understand the feelings and expectations of customers, team members, and stakeholders have the best job prospects.

Continuing professional development (CPD) will help an active Product Manager build personal skills and proficiency through work-based learning, a professional activity, 

formal education, or self-directed learning. Most employers offer on-the-job training on relevant software tools, organisational policies, and workplace conduct.

Focus on honing skills relevant to your industry and region; learn how to create user personas, develop customer journeys, and conduct market research. Build relationships with essential stakeholders in and outside the organisation for effective collaboration on new products. Consider an advanced postgraduate degree in business administration/management or marketing after acquiring some experience in the industry. 

Online and part-time courses will allow you to work even while you deepen your knowledge of the organisation's strategic, financial, and operational aspects, develop strong leadership skills, and expand your network. Certification in professional management and new product development will prove advantageous, as would a certificate in product ownership analysis. Participate in workshops and industry events to enhance your personal and professional development.

In addition to offering the opportunity to continually upskill, regardless of one’s age, job, or level of knowledge, CPD also enables the periodic renewal of desirable certifications, which increase your chances of advancement and becoming an independent consultant.

Types of Product Managers

Technical Product Managers use their technical expertise to develop high-tech products, while Consumer Product Managers create products based on their understanding of consumer needs and behaviours. Agile Product Managers apply continuous innovation and collaboration with cross-functional teams to develop superior products. Platform Product Managers create and manage platforms capable of supporting multiple products or services. Brand Product Managers lead a holistic marketing strategy, including brand identity and product positioning. In contrast, Growth Product Managers determine ways to drive user growth and engagement. 

Product Manager vs. Production Manager

Product Managers use their understanding of customer needs and wants to drive product and service design, development and launch. Although they may visit manufacturing facilities to observe product development and quality control, Product Managers usually work in offices. Production managers supervise the daily production process in manufacturing facilities to ensure employees meet productivity goals safely and efficiently. 

Product Manager vs. Project Manager

Product Managers primarily guide cross-functional product teams to design, develop, and market commercially successful products and services. By contrast, Project Managers have multiple responsibilities, such as setting deadlines, safeguarding product/service quality, and ensuring that product tasks remain within set budgets. 

Product Manager vs. Product Owner

Product Managers have a strategic role in guaranteeing that any company products in the development process meet end user and business objectives. Product owners work within the Scrum framework to ensure that everyday tasks align with the Product Manager’s strategies. 

Terminologies To Note

Customer Journey Maps are visual diagrams pinpointing key touchpoints and issues during a customer’s interaction with a company to help enhance the customer experience. User Personas are a fictional representation of a target audience segment to help businesses understand and cater to their customers' needs, preferences, and behaviours. They guide product development and marketing strategies.

Brand Identity refers to a company’s logos, taglines, and values that create a consistent and immediately recognisable brand identity and foster customer loyalty and trust. Product Positioning is how consumers perceive a product uniquely, emphasising its benefits and competitive edge.

Scrum is an agile project management framework that promotes collaboration, adaptability, and iterative development to deliver high-value products efficiently. It involves short, focused work cycles (sprints) and regular feedback for continuous improvement. 

Current Scenario

The employment outlook of a particular profession may be impacted by diverse factors, such as the time of year, location, employment turnover, occupational growth, size of the occupation, and industry-specific trends and events that affect overall employment.

Product Managers have a promising future worldwide. Companies focused on customer satisfaction will continue to expand their product lines. They will need competent Product Managers to develop and launch competitive products while managing the people involved in those activities. 

Potential Pros & Cons of Freelancing vs Full-Time Employment

Freelancing Product Managers have more flexible work schedules and locations. They fully own the business and can select their projects and clients. However, they experience inconsistent work and cash flow, which means more responsibility, effort and risk.

On the other hand, full-time Product Managers have company-sponsored health benefits, insurance, and retirement plans. They have job security with a fixed, reliable source of income and guidance from their bosses. Yet, they may experience boredom due to a lack of flexibility, ownership, and variety.

When deciding between freelancing or being a full-time employee, consider the pros and cons to see what works best for you.

A 280-group survey showed that 1 out of 5 products fail to meet customer expectations, supporting another finding that a competent Product Manager can increase company profits by 34.2 per cent.

Creative thinkers and problem-solvers driven by curiosity and zeal for meaningful impact, Product Managers shape the evolution of products and services that bridge the gap between customer expectations and business goals.

Gain cross-functional skills in design, technology, and marketing. Continuously learn and adapt to excel.