Product management is an important organizational role, especially in times with the growth of technology in almost everything. A Product Manager takes care of the business that is done with a specific product. It is a business management role and naturally requires interaction with many different functions. Generally, product managers are in charge of building the entire strategy to deliver the best products to the market. They are trained to handle all the challenges and milestones, representing guidelines for making new plans and decisions. Understanding the roles and stages involved in product management would help to uncover its main objectives.
The Main Objectives of Product Management
- Creating Benefits for Everyone
- Creating New Products with a Return-on-Innovation Investment
- Making a Competitive Analysis
The scope of product management is huge, and it plays an integral role in building a product. The main question that arises is how to plan a roadmap for your product to ensure growth in business and meet customer needs. All stages have specific key players, but the product manager runs the show at the end of it all.
The Stages of Product Management
- The Conceptual Phase
- Strategy Development
- Execution and Testing
- Marketing and Sales
Tools are an essential part of your product management process and very helpful for a product manager in everyday routine. Various tools can be used to help product managers to carry out their product management process smoothly. Here in Jelvix, our product managers usually use tools for development tracking, analytics software, and road mapping software.
Best Product Management Tools
- User tracking and analysis tools such as Amplitude;
- Roadmapping tools such as ProductPlan;
- Customer survey tools such as SurveyMonkey;
- Recording apps for customer interviews such as Zoom;
- Industry analysis accounts such as Gartner;
- Team messaging tools such as Slack;
- Presentation software such as Keynote;
- Project management tools such as Trello;
- Session replay and heatmap tools such as Hotjar;
- Idea-capture and collaboration tools such as Evernote.
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