Examples of Product Management
Apple’s design and development of the iPhone serve as one illustration of product management. Here is this example:
The members of the product management team in charge of the iPhone would have needed to:
- Gather market data.
- locate possible clients.
- Work with engineering, design, and marketing teams to develop this product that would satisfy the target market’s needs.
- Ensure that the iPhone was released on schedule and within the allocated spending;
- Evaluate customer input and gradually make changes to the product.
The design and development of the Tesla Model provide yet another illustration. For this model, the product manager would have needed to:
- Determine the needs of the automotive industry, such as the need for sustainable and environmentally friendly transportation
- Work with cross-functional teams to design and build a car that meets these needs.
- Ensure that the Model S is launched on schedule and within budget.
- Evaluate user feedback and make necessary changes to the vehicle over time.
Learn Product Management | Beginner to Advanced Tutorial
Product management is an all-around process that involves planning, development, launching, marketing, and post-sales improvement of a product and service. Product Management includes the complete lifecycle of the product or service, from idea generation to development of the product to the final launch. The product manager is an entity or a person who is responsible for looking after all these issues and collaborating with different teams, to bring out the best product that fits every need of customers.