Roles and tasks of the Product Manager
The Product Manager is a key role in helping companies achieve their commercial objectives. He or she works with the marketing, sales and logistics teams to design, develop and market innovative and profitable products. The Product Manager is an expert in his or her field and must assess and analyse the market in order to make strategic decisions. The main duties and responsibilities of a Product Manager are as follows:
- Define the product strategy and vision: Develop clear and coherent plans for the product portfolio and ensure that they are implemented correctly.
- Analysing the competition and market trends: Researching trends, prices and the competition and ensuring that the product is competitive, attractive and profitable.
- Developing and launching new products: Designing and developing innovative products based on market needs.
- Managing relationships with customers and partners: Developing and maintaining constructive relationships with customers and partners and ensuring their satisfaction.
- Manage the team and the budget: Manage and coordinate the product team, draw up action plans and budgets for the products and monitor their performance.
- Write marketing and technical content: Write marketing and technical content to promote the product and inform the market of its benefits.
The Product Manager is a strategic role that requires excellent analytical and communication skills. He or she must be able to understand the market and its needs and make decisions that support the company's business objectives.
Salary and career development of a Product Manager
A Product Manager is an experienced professional who manages the entire product life cycle, from design to marketing and maintenance. They are responsible for marketing strategy, operations, launch plans, market research and all other production-related activities. Depending on the age and experience of a Product Manager, the gross annual salary may vary. Here is an estimate of the gross annual salary for each age and experience bracket:
- 0 to 2 years: €30,000 to €40,000
- 2 to 5 years: €40,000 to €50,000
- 5 to 10 years: €50,000 to €70,000
- 10 to 15 years: €70,000 to €90,000
- Over 15 years: €90,000 and more
A Product Manager may also choose to specialise in a particular field, thereby broadening his or her scope and career. Here are a few possible careers:
- Project manager
- Sales manager
- Marketing manager
- Product analyst
- Product management consultant