It involves managing all aspects of a product's life cycle, including market research, product planning, product development, pricing, marketing, and more. The uses of product management are many and various. Maybe most importantly, it helps to confirm that products are developed and launched promptly and efficiently. Additionally, product management can help to improve communication between different departments within a company, as well as between the company and its customers. By taking a holistic view of the product life cycle, product managers can help to identify potential problems early on and take steps to avoid them.
In short, effective product management can make for better products and happier customers. Product management is a business role in which you manage specific products within your company. It combines strategy, design, leadership, and marketing to help a company successfully sell its product. Product management also guides a product’s lifecycle at every stage.
