What is product management, really? Simply put, product management is a lifecycle organizational role that deals with research, conceptualization, development and marketing of a product or service.
It is the over-arching function that consists of two vital and complementary fields – product development and product marketing.
Aside from the benefit of shared research, these fields have very different focal points. At a specific link in the value chain, there is a transitional phase where the product changes hands between product development and product marketing.
While this isn’t rocket science, there still exists a lot of confusion over the subject. The situation does not improve as organizations and recruiting managers often transpose the titles – Product Manager, Product Marketing Manager and Product Development Manager. Much of that confusion stems from ‘who does what?’. So, let’s have a look at what each role entails.
PRODUCT DEVELOPMENT MANAGER
The Product Development Manager (PDM) mainly focuses on defining the product’s vision, strategy and features. The PDM acts as a subject matter expert. The role is the ‘glue’ that moves the product from concept to final production. It is more concerned with the why, what and when of the product.
PRODUCT MARKETING MANAGER
The Product Marketing Manager (PMM) on the other hand, is responsible for go-to-market strategies. The role manages all marketing related activities that facilitate customer adoption through the products lifecycle. Essentially, once the product is ready, the PMM oversees communication of the same why, what and when to the intended audience.
In truth, product management is an all-encompassing function that drives both product development and product marketing. Hence the product manager oversees both sub-sets of activities. The role is responsible for the overall performance of the product or category, including financial responsibility.
Why separate the roles?
There are so many reasons why organizations split the product management function. Few of them are listed below.
- Company size
- Country-specific trends
- Type of product
- Intricacy of product
- Size of product portfolio
- Market complexity
- Geographic coverage,
- The speed of lifecycles
- Distribution channels
It also draws from the amount of time and attention devoted to the various activities in the value chain. It is not uncommon to find more than one product development manager working with a single product marketing manager and vice versa.
If the need for separation is inevitable, there must be a seamless relationship and information flow between the two functions. This ensures a successful product-market fit. Such synchrony ensures that the right product is marketed to the right people at the right time and in the right manner.
For more articles on the subject of product management visit the “product files” on the blog.