STRATEGIC PRODUCT MANAGEMENT
The Triad of product management
Product Management has become an important strategic function in most software and technology services companies. While the specific role and responsibilities of product management can vary depending on the company and industry, there are three important facets to the product management role:
The Function of Product Management is what is often seen as the classic discipline of product management. This focuses on the "what and why" of the products being built and involves capturing the voice of customer, defining and managing product roadmaps, driving release & sprint planning, and effectively prioritizing requirements & grooming feature backlogs.
The Business of Product Management is focused on building the foundation for commercial success. This includes developing realistic business plans, developing accurate costs models and defining pricing strategy and models. It is important to track and understand product pipelines, manage product-level profitability and make the right portfolio-level investment decisions.
The Influence of Product Management involves thinking and acting as the "CEO of the product" - fostering and driving cross-functional alignment across multiple functions to ensure product success. This entails effectively marketing your products, enabling your sales channels appropriately and ensuring that positive customer experience and support ultimately helps you build loyal and successful customers.
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