There is a product at the end of the rainbow. It can be a website, a mobile app, an online service (SaaS) or a toy. Someone needs to imagine it. Someone needs to visualize it and someone needs to build it. Most of the startup companies are formed around an idea for a product. The rest are developing products to support their service idea.

Product Life Cycle Management is significant to the operation: It sets the market’s needs and expectations from the product; It makes sure that the stakeholders are all on the same page when planning and developing the product and it is the organizational function that launches the product, creates the marketing collaterals and gathers feedback for ongoing development. Whoever is responsible for product management in the company is the market's representative within the organization. This is the focal point responsible for getting business strategy and market needs aligned.

In various organizations there are all kinds of product departments. In some, these are strong departments, with product managers, UX designers and even technical writers. In other organizations, the product manager is a single person, who sometimes writes product requirements documents in the hope that they will someday be read by the development manager. In such organizations, if they are somewhat successful, the roadmap is determined by the sales department and it is customer-reactive rather than proactive.

Product management is also extremely important in the execution level: the product manager is the link between the marketing to the design to the development. These are separate functions which usually do not speak the same language and any misunderstanding between them may cause delays in the best scenario or bad products in the worse one.

In short: Product Management is responsible for creating a product that the company wants to sell and that the market really needs.  Product Management is significant because if it doesn’t achieve this goal, then the product is likely to fail.

Posted by Samuel Miller

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.