Product Manager Position Description
A product manager is a professional occupation that oversees the development and marketing of a product for an organization throughout the product's life cycle. These professionals use a unique combination of sales, marketing, management and in some cases, technical skills to drive revenue for a product. A product manager may not necessary manage people but manages the branding of a product to ensure profitability.
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Qualifications
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Educational requirements include a bachelor's degree in marketing, business management or a related discipline. For occupations that manage technical products, a bachelor's degree in engineering or a related technical discipline is required. Employment opportunities may be greater for those who obtain a master's degree in business administration.
Product Life Cycle
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A product's life cycle may last several months to several decades and beyond. Overseeing the development and marketing of a product through its life cycle includes working with designers, financial managers and sales professionals to develop a product to meet customers' needs and interests. This can involve strategic analysis and research to understand the needs of customers or to improve a product. Improvements may be required to meet technological advances or remain competitive in the marketplace.
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Marketing
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A product manager does extensive analysis and research regarding product competitors and potential customers to provide a marketing strategy and message for a product. After careful analysis, pricing is set for the product to meet profitability goals for the organization.
Sales
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A product manager develops sales tools and educates sales teams about the product and its most valuable sales approach. The product manager also routinely joins sales professionals at customer visits and sales meetings to ensure customer satisfaction. This can include receiving customer feedback and improving the product if necessary.
Salary
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Salary can range extensively for this occupation, and often includes a performance bonus based on product sales. In March 2010, CBSalary.com listed a national average annual salary of $63,928.
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References
Resources
- Photo Credit product defined image by Christopher Walker from Fotolia.com
