How to Become a Product Manager(11 courses)
What do I need to study to become a Product Manager?
Accelerate your career as a manager with this online Advanced Diploma of Leadership and Management (BSB61015).View course information
An Associate Degree of Applied Business is the perfect course for those who want to kickstart their career in the business world with just two years of study.View course information
The Bachelor of Applied Business is a comprehensive online course, providing a solid foundation of business knowledge and skills suitable for a wide range of careers.View course information
The Bachelor of Applied Business (Management Major) is a comprehensive online course that equips students with the knowledge and skills needed for careers in business management.View course information
The Bachelor of Applied Business (Marketing Major) is a comprehensive online course that equips students with the essential business knowledge and fundamental marketing skills needed for a range of careers.View course information
Delivered by Ducere Global Business School in partnership with the Torrens University Australia, the Bachelor of Applied Business (Marketing) connects marketing creativity with the innovation skills of the 21st century. If you want to harness your creative skills towards professional success, then this is the degree for you!View course information
Build in-demand skills and knowledge to propel your career with the RMIT Online Graduate Certificate of Product Management.View course information
Academy Xi's Product Management course equips students with a thorough understanding of how to launch, test and build successful and financially viable products.View course information
This Product Management Part-Time course provides students with the knowledge, tools, strategies and skills they need to pursue a career as a product manager.View course information
This Service Design accelerated course packs essential service design tools and techniques, as well as real-world problem-solving experience, into one week.View course information
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Definition of Product Manager
A Product Manager holds overall responsibility for conceiving, researching and developing new merchandise, software and other goods aimed at increasing a companyâ€™s profits and market presence. They are typically thought of as the intersection between technology, business and user experience; creating strategies, determining the value and defining the purpose of a product.
Product Managers evaluate market trends, identify intended demographics and monitor competition. Considering factors such as the companyâ€™s business model and consumer opinion, the Product Manager determines what features are needed to ensure that the final product meets the needs of the end-user.
Once they have created a blueprint and strategy, the Product Manager must communicate their product vision and value to everyone from executives and senior management to the development and marketing teams. They ensure cohesion across all aspects of product strategy and execution, from research and engineering to sales and marketing.
What are the responsibilities of a Product Manager ?
- Conceptualising and developing new products in order to improve market share and maximise profits.
- Defining the purpose, value and target market of new merchandise, software and other goods.
- Outlining and maintaining product development strategies, timelines and budgets.
- Monitoring and researching market trends to identify customer needs.
- Assessing and comparing competitor products in order to create differentiation.
- Conducting market research to determine competitive pricing and promotional plans.
- Supervising recruitment and training of product management staff.
- Liaising with other departments such as engineering, sales and marketing to ensure a cohesive product vision.
- Generating and presenting reports, sales forecasts and market analyses for management and executives.
Career Outlook for Product Manager
The average age of people working as is 43 with 61.10% of them being male. 90.70% of are employed full-time and they typically work around 42.3 hours per week.
Unemployment is below average and, with A Bachelor Degree or higher, the average Community Worker can earn around $1,669 per week Before Tax. In 2015 there were 12,600 working and the future growth of the profession is predicted to be very strong, with numbers around 14,800 in 2020.