The role of Product Manager is very critical to the success of your company. The Product Manager carries market opportunities, profitability, development and value creation on their shoulders. The role is challenging, hectic and comprehensive. If your company’s product management and leadership needs an upgrade, you should turn to our experienced consultants.
What is the Product Manager responsible for?
Product Manager, eli tuotepäällikkö on vastuussa tuotteen tai tuoteportfolion visiosta, strategiasta sekä roadmapista. Hän tuntee tuotteensa asiakkaat, toimialan ja markkinan erinomaisesti. Tyypillisesti hän vastaa myös kannattavuudesta ja hinnoittelusta. Hän työskentelee läheisesti sekä myynnin, markkinoinnin, tuotannon että tuotekehityksen kanssa. Hän myös määrittää tuotteen tai tuoteportfolion arvolupaukset ja kommunikoi asiakkaiden tarpeet tuotekehitykselle. Hän ymmärtää tuotteensa tai tuoteportfolionsa elinkaaren vaiheet ja osaa johtaa toimintaa sen mukaisesti.
The Product Manager is responsible for the vision, strategy and roadmap of the product or product portfolio. They know their product’s customers, the industry and the market very well. Typically, they are also responsible for profitability and pricing. They work closely with sales, marketing, production and product development. They also define the value propositions of the product or product portfolio and communicate customer needs to product development. In addition, they understand the life cycle stages of their product or product portfolio and know how to manage operations accordingly.
Not just product management
The role of a Product Manager is versatile and challenging. The PM is like the CEO of the product or product portfolio, holding all the elements of product management in their hands. Instead of product management, we actually want to talk about product leadership, because the role of a product manager emphasizes above all the ability to lead operations in a business-oriented manner.
The Product Manager must know how to manage people, things, expectations and value generation. The PM’s stakeholders and responsibilities are so broad that without sufficient management skills, the job becomes a chore, which also affects the return on value. Central to the role of a Product Manager is the ability to say no to something that does not improve the value of the product or product portfolio in the desired way. The ability to prioritize is needed daily, as well as thick skin. It is indeed difficult to please everyone in the role, but prioritization is eased by the product strategy linked to the company’s strategy and the goals derived from it.
Where can our experts help?
Our Product Manager can come to your aid to solve for example the following challenges:
- You are still missing elements of product management, the entirety of product management is not being understood, or the entirety is difficult to manage.
- Your product portfolio has grown uncontrollably large, it causes costs and needs simplification.
- Your customers can’t find your products in the way you’d like, and the value proposition of the products needs to be clarified.
- Your daily work is hectic and needs a vision, product strategy and clear goals to support it.
- Your product development lives its own life and is not really connected to your company’s business.
An external and experienced Product Manager helps to see the problem points and draws attention to what is essential, making it possible to change direction. They will put the missing elements in place, making it easier for your business to move forward. An experienced Product Manager can also act as a coach for your company’s own PM and help them flourish in his role. An external professional can also fill in a temporary product management gap in your company, giving you time to focus on finding a new internal Product Manager.