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Product manager jyoti

  1. What is Product Management ? What do Product Managers do ? How does one become a Product Manager ? Product Management
  2. What is Product Management Product management is an organizational function that guides every step of a product’s lifecycle: from development, to positioning and pricing, by focusing on the product and its customers first and foremost. To build the best possible product, product managers advocate for customers within the organization and make sure the voice of the market is heard and heeded 1 What do product Managers do A product manager is the person who identifies the customer need and the larger business objectives that a product or feature will fulfill, articulates what success looks like for a product, and rallies a team to turn that vision into a reality. 2 How does one become a product Manager Product management lies at the intersection of business, technology, and design, combining strategy, marketing, leadership, and other skills with the end goal of launching an amazing product. It’s all about solving problems with technology and how people use that technology. As a product manager, you will be developing pricing, distributing and promoting a particular product or line of products. As a PM, you are the voice of the users. 3
  3. Guiding the Success of Product and leading the cross functional team that is responsible for improving it. Product Managers sets the strategy, roadmap and feature definition for a product or product line. They coordinate work done by many other functions (like software engineers, data scientists, and product designers) and are responsible for the business success of the product. They often analyze market and competitive conditions, laying out a product vision that is differentiated and delivers unique value based on customer demands. Role of a Product Manager
  4. PLC is an assumption that every product goes through that involves the same pattern of introduction into the market, growth, maturity, and decline. As the product spends more time in the market and it makes its way through the cycle, its sales increase. Each product’s PLC is different in the length of scope and duration, and each product is at risk of not making it out of the introduction phase. However, the company strategy should remain consistent throughout each of the phases. Product Life Cycle
  5. Product Life Cycle in brief Product Development The new product is introduced; this is when all of the research and development happens Product Growth The product is more than an idea or a prototype. At this stage, the product is manufactured, marketed, and released. Distribution increases, demand increases, and competition also increases. Product Maturity During this stage, the product is widely available, and there are many competitors in the marketplace. You market the product to different segments, but more spending on advertising will have no impact on its demand. Product Decline The product is losing market share, or becoming obsolete. It is well past its point of highest demand, and the demand decreases.
  6. How to identify and make product improvements? Map feature usage to your user's product journey Measure feature success throughout the journey Find the correlation between feature usages and business goals Identifying what product improvement to work on 4-step process to identify product improvement opportunities for an existing product It's no secret that building a quality product is hard. But keeping your customers engaged and happy as you make product improvements is equally hard. At any given time, there will be more than a handful of improvements you can make within your product. You’ll have some ideas. Your teammates will pitch in with what they think should be improved. And of course, your customers will have a few opinions of their own. Any product improvement you make will not satisfy everyone. You need to pick your battles. But taking an informed decision on which specific improvement you should work on isn’t straight forward either. Product improvement is the process of making meaningful product changes that result in new customers or increased benefits realized by existing customers. The two most popular ways to make product improvements are to add new product features or improve existing ones.
  7. User Journey Mapping It's easy to develop tunnel vision when you're building a product. You spend a lot of time thinking about every little feature and every single process running under the hood. But that's not how your users interface with your product. They're coming from the opposite direction— they have no reason to care about your product until you show them what it can do for them. Turning first-time users into long-term customers requires an understanding of where your users are coming from and what they want to do. Creating user journey maps helps you keep user motivation at the front of your mind and create UX flows that get users where they want to go. What is a user journey map? A user journey is a timeline of user actions that describes the relationship between your brand and its customers. It's a visualization all of a user's interactions with your product, from their point of view. User journey mapping creates a timeline of all touch points between a customer and your organization, including all channels they happen in. A really simple user journey map for could look something like this:
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