What is ICP-PDM (Product Management Launchpad) ?
6th Oct, 2022
Who is a Product Manager, their Roles, and Responsibility, and how much do they earn? An overview.
Product management is a well-balanced combination of Technology + Business + UX. A product Manager is the facilitator of these 3 important factors. Let’s dig in a little deeper.
Who is a Product Manager
Building products that customers love and generating ROI for the company are the responsibilities of a product manager. Entrepreneurs in startups, product owners in agile teams, account managers in service businesses, general managers in hotels, etc. are all examples of different types of product managers.
Roles and Responsibilities of a Product Manager
Product Managers are responsible for creating value for customers as well as revenue for the organization. To build such products, Product Managers need to work with:
Users: to understand their requirements, and problems, and translate them into Product features.
Buyers: to recognize their economic needs and position the product in the market by examining the competitors.
Sponsors: to establish a company strategy that achieves the desired revenue and margin goals.
Development Team: to create a product that satisfies the needs of all 3 above
A product manager's main responsibility is to discover useable and feasible products. Below is a list of the additional roles and responsibilities.
silent heroes of innovation
They ultimately control every phase of a product's life cycle, earning them the title "the mini-CEO of a product." A product manager provides leadership throughout the whole product lifecycle, from ideation to retirement.
They imagine, define, and create the customer experience while serving as entrepreneurs, strategists, team leaders, and customer advocates. Additionally, product managers have a say in not just what is developed but also how it is built.
Analyzes market trends to unearth new opportunities.
Customer satisfaction is the ultimate goal. Product Managers give insight into distinctive selling features which increases profits. They monitor the overall performance of the company and its products with a focus on broad. They define the goals that lead to the creation of products.
Visualizes the complete life of a product.
They picture a product's performance and life cycle from Concept to Cash. Since their responsibilities extend to the entire company, product managers have to learn everything that could impact their product's success to be an effective CEO of the product.
Responsible for defining the bigger picture
The duties of a product manager vary, as does their area of interest. They are in charge of establishing the product vision, which includes all of these elements and much more. They go beyond just how the product will look, what its price point will be, or how long it will be in use.
They are in charge of determining the product strategy, interacting with and having influence over internal and external stakeholders. They are essential to an organization's long-term strategy.
Co-ordinating to ensure product aligns with product vision
Product managers establish the product vision but also need to build the project strategy in collaboration with a larger group of stakeholders. This entails coordinating with several organizational departments to make sure the produced product is in line with the product vision.
Product Manager’s salary?
Product Manager is one of the most demanding jobs in the industry. According to Glassdoor, a Product Manager earns an average of 15 Lakhs, with a Higher side being 29 lakhs. The right skill-set will help you secure a job in any part of the world.
How to get started?
The difference between a chief and an elite chief is the skills that go into their cooking. Simply put, the right skills can advance your career.
Similarly, the first step in becoming a Product Manager is to begin learning the necessary skills. Skills, unlike knowledge, can’t be gained through reading. It comes from years of experience which is often time-consuming. However, a quicker way to learn these skills is by grasping them from an experienced Coach.
That's where we step in, With a 4.9 star Google rating we have trained over 800,000+ people, and 100+ companies, across 12+ countries. Our value-packed ICP-PDM (Product Management Launchpad) workshop helps you get your career in product management up and running.
Your career will ultimately benefit from the guidance and mentoring of our renowned practitioners as they share all their insider knowledge.
About ICP-PDM (Product Management Launchpad) Workshop by Leanpitch
A 100% experiential learning, with a maximum of 15 participants each session for improved interaction and post-workshop support. We focus on upskilling you through case studies and role plays. ICAgile Certified Professional in Product Management Launchpad(ICP-PDM) workshop is role Specific, with 21 PDUs towards PMI credential, certification, and Life long membership with ICAgile.
Register Now! to our ICP-PDM workshop to advance your professional development and excel as a Product Manager.
Every component of the product is under the responsibility of the product manager. They ensure to build usable and sellable features that give higher ROI. They must be enthusiastic and knowledgeable about each of the three fields since they are masters of all trades at the junction of business, technology, and user experience.
Throughout a product's lifecycle, Product Managers own all the phases and delivery. Hence they are called the owner of the product. They impact every aspect of product life, including design, engineering, marketing, and finance.