Tag Archives: market analysis

A responsible species called product manager

Is that an amusing title? If yes, then product management (PM) has retained its title of being one of the most esoteric functions in IT. And this has reasons: compared to the epic number of service organizations, there exist only a few product companies, implying a fewer number of product managers – a breed that can’t be found in herds. Despite of a severe need for PMs within¬† the chamber, the absolute demand compared to other profiles is minuscule, causing the profile to remain unexplored even by recruiters. Whether or not that makes PM a big deal, the ones that have tasted it will agree that it demands a unique mix of aptitude, attitude & innovation – that can’t be taught in class. And above everything else, it demands hell-a-lot of responsibility.

Most people destroy the niche status of product management (PM) by confusing it with project management. I would say, planning, execution & reporting is only a minuscule part of the PM profile. PM is everything about the product from vision to release which is not a simple 1-step transition. At least, it involves:

  • Envisioning a product that solves a problem or improves some productivity parameter
  • Understanding the market for the product & preparing a market requirement document (MRD)
  • Creating a concept to get management buy-in; At senior levels with P&L responsibility, it may accompany projecting numbers
  • Detailing the product functionality & behavior through prototypes & product requirement document (PRD)
  • Maintaining a prioritized feature roadmap Continue reading A responsible species called product manager

Jargon: Disruptive Innovation

Disruptive innovation describe innovations that tend to get competitors jump out of their seats. This is something – highly desirable – that the market has never seen before. Wikipedia gives the example of lowering price, but undercutting is a relatively common phenomenon. However, ‘designing for a different set of consumers’ is quite apt.

It is every product manager’s dream to conceptualize a product, or at least a feature that does creates such a wave in the market! And if you ever happen to be at the receiving end of a product demo – like the one that I usually deliver – this is the best compliment you would give. Cheers!