A Job Description for Product Management

People who work in product management are involved in all phases of marketing a specific product line.

People in product management are marketing employees who make strategic decisions on developing, pricing, promoting and distributing a particular product or line of products. Product management is on par with brand management in consumer products companies, but people in product management tend to deal with more technical products such as software and industrial goods; or books and other products that fall under one particular name. The job description for product management can include many other responsibilities as well.

Significance

The job description for product management mainly entails managing the product life cycle of a particular product and making necessary changes to extend the life of that particular product. A product goes through introductory, growth, maturity and decline stages. Product management's job is to tweak the product, find new uses for it or create additional products to maintain or increase sales and profit margins.

Identification

The job description of product management also entails working with the marketing research department in doing-in-depth studies of the competition, determining the strengths and weaknesses of the company's products versus the competition and developing strategies that will provide the company with a competitive edge, according to the Association of International Product Marketing and Management.

Function

The job description of product management also includes working with the sales team and developing visual aids and training programs that can help them increase their sales. Product management should design sales collateral materials that stress how the company's products can best benefit the customer or end user. A mandatory aspect of product management's job description should include supplying sales with the most up-to-date secondary research and market data available.

Other Responsibilities

Another key facet of product management's job description is writing the business plan. The business plan should include every detail about each of the products, including all price points, sales forecasts, special features of new and existing products, all existing and new channels of distribution and all of the sales promotions and advertising that will be used to market the product line.

Salary

Salary expectations for product management positions average about $95,900 per year in 2010. A person can make more money as they advance into more senior product management or director positions. According to State University.com, the outlook for careers in product management are very good in companies that keep up with technology and stress sales and marketing as cornerstones for the organization.

References

• Association Of International Product Marketing And Management: Product Management Job Description
• American Chronicle: Product Manager Roles: Business Planning Marketing Strategy Product & Life Cycle Management
• State University: Product Manager Job Description