How to Become a Product Manager
(13 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).
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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 informationThe 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 informationThe 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 informationThe 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.
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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 informationGet the fundamentals of marketing that you need to kick-start your career in this ever-growing industry with Monarch Institute's Certificate IV in Marketing and Communication (BSB42415).
View course informationCompleting a Diploma of Applied Business is the fastest way to gain a respected qualification and start a successful business career.
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Learn what it takes to be successful in high-level management roles and build capability in the core disciplines of human resources management with the Diploma of Leadership and Management (BSB51918) and Diploma of Human Resources Management (BSB50618), a dual diploma with LET Training.
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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 informationLearn how to develop, manage and launch great products from the comfort of your own home with this Product Management Online Course (Foundations) from Academy Xi.
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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 informationThis Service Design accelerated course packs essential service design tools and techniques, as well as real-world problem-solving experience, into one week.
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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 company’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 company’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.