A product manager performs different roles in product management.
Some common types of product management roles are as follows:
Data product manager:-Data product management will be good for those who have loved numbers. A data product manager works with analytics teams and data scientists. An organization can measure the success of its new product through data product management. With the help of data product management, a customerâ€™s interaction with the new product can be tracked.
Growth product manager:- A growth product manager is focused on a specific metric through which the company can measure the growth of the business. Growth product manager works with both traditional and product marketing teams to ensure that they are expanding their product reach. Growth product manager experiment to measure the new feature of the product.
Technical product manager:- A technical product manager is generally from an engineering or development background. Because he works with the engineering team to improve a productâ€™s functionality, security, or a companyâ€™s tech stack. Technical product managers are less involved in the appearance of the product and are mainly focused on its inner working.
Types of Product Modifications
The modification in a product is generally done in the maturity stage of a product cycle. IT is done to take a competitive advantage. The modification may include new flavors, sizes, packaging, etc. Product modification is a better idea than developing a new product.
The three ways of doing product modification are as follows:-
Functional modification:- Functional modification adds those changes that affect a productâ€™s effectiveness, safety, convenience, etc. It usually means redesigning a product. It can become useful for a larger audience after functional modification. Functional modification can put a product in a favorable competitive position.
Quality modification:- Quality modification relates to a productâ€™s durability, dependability and is executed by alterations. A company reduces a productâ€™s quality to make it cheaper so that it can target a larger audience.
Style modification:- Style modification refers to changing a sensory appeal by altering the texture, sound, taste, smell, or visual characteristics of a product. A lot of buyers decide based on taste, smell, texture, etc., so style modification can impact their purchase decision.
Importance of Product Management
Product management is the basis of a life of a product. IT helps a product come into existence through the work of product managers in this process. Product managers are the key person in launching a new product and experiences for users. They help with different teams of product management like engineering team, development team, designing team, etc. to see that everything is going smoothly.
The product manager outlines the product strategy and defines the success of each product. A product manager also examines how the product will impact the customerâ€™s decision and company goals. He helps every team to get a valid solution if they are stuck somewhere.
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