Successful product launch depends heavily on the quality of product management. How your company handles each stage, right from product development to post-launch user experience, determines whether your new product makes a mark on your target market.

In this article, we look at what product management is, how product strategy plays a role here, and why the product manager role is very important.

What is product management?  

Product management team

Product management refers to a series of activities that deal with managing a product's lifecycle. The product management job starts right from planning for a new product. It includes every day to day task that is performed to plan, design, develop, promote and launch a product, plus manage post-launch customer feedback and experience.

The primary objective of product management is to build a product that adds value to customers. Employers and C-suite management roles work with the product manager and engineering teams to develop and launch a high-quality customer-focused product.

The product manager is at the helm of the product management job. The product manager collaborates with top management and the engineering team to articulate how to develop the product. This role involves managing the start-to-finish operations in a product's lifecycle. The product manager works with various departments to ensure that the entire company operates as a cohesive unit to bring the product vision to life.

Role of product management in product success

Product management is exceptionally important when your company wants to launch a new product. Some of the reasons why a well planned and smartly implemented product management process leads to product success are –

product management process

Product management leads to sustainable products

Since product management takes into consideration the needs of the customer, companies start to build value into their products right from scratch. This ensures that the newly created product is something that people want to buy and which helps solve their unique needs and challenges. Such products will have a greater chance of being bought and recommended by customers, making their demand evergreen.

men checking the product development updatesProduct management reduces the need for product reworking and product failure.

From a hardware & software development perspective, such a customer-centered product requires little reworking at the design and development level. This is because everything has already been planned to keep in mind what the end consumer wants. This will save precious company resources and reduce the product's time to market. When the product is launched, it will lower the chances of outright product failure or drastic changes to the primary design.

Product management helps increase sales and revenues.

One of the main functions of product management is its role in increasing sales and revenues. It improves communication and collaboration between the product owner (i.e., the product manager), the engineering teams, and other customer-facing teams. This includes sales and customer support teams.

customers support team feedbacks

Let's talk about sales first. A large part of the jobs of both the product management team and the sales team is understanding what the customer wants. Each team can help the other achieve its short-term and long-term goals by working together. First off, product management helps the engineering team liaise successfully with sales teams and design product elements/features that the target market wants. Second, product management ensures that the sales team gets the correct information about the new product to help them plan a compelling sales pitch when contacting prospects. The development team can share case studies, product test reports, and more with the sales team to give them the information they need to generate leads and close the sales.

The product development team can work closely with the customer support staff to find out customer feedback about the new product when it comes to the customers support team. That way, the design & development team can keep making any modifications or additions at the earliest, without waiting for any issues to pile up. New product iterations will be of higher quality and will be less likely to be rejected in the market, leading to fewer losses and higher revenues.

Product management strengthens the company's position in the industry.

Product management isn't just about developing and launching a product, and it involves being responsive to market evolution and ensuring the company moves along the right track.

The product management team in the company, which comprises the product owner, engineering team, and product marketing team, keeps track of industry developments to inform the product designers of changing trends and needs. They also keep an eye on competitors' performance and new product launches to ensure that your business stays ahead of the curve. By doing this, they protect and preserve the company's position in the dynamically changing industry.

Stages in the product management process

Product management is a process. There are various stages involved in product management. Let’s discuss them now –

Product ideation & screening 

Product ideation

The first stage of product management is ideation – where you come up with ideas for the new product you want to create and launch. When we talk of new products, these could be –

  • New to the world products.
  • New to the firm products.
  • Additions to existing firm product lines.
  • Upgrades or modifications to existing products in the company portfolio.
  • Modifying existing products for new applications.

At this stage, your product team will come up with multiple ideas and sound them off each other. Both the product team and employees in the management roles will work together to screen through these ideas based on cost, time to market, expected profits, competition, etc., to select a single feasible idea. Tools like SWOT analysis and PESTLE analysis may be used here.

Market research

Next, your team will conduct comprehensive research to identify –

Product research

  • A number of similar products are present in the market.
  • How close is the similarity & what may be missing from those products?
  • Competitor weaknesses you can take advantage of.
  • Cost vs. benefit of manufacturing this product for this market.
  • Size of the target market for your product.
  • What this target market may be looking for in such a product.
  • Your company’s ability to create such a product.
  • Customer/prospect avatar – Demographic, psychographic, and taste differences.
  • Preferred functional and aesthetic specifications.
  • Expected revenues and expenditures from this idea.

If the research indicates that the product vision can be made into reality, it’s time to move on to the next stage.

Product strategy development and product roadmap creation

Product roadmap journey

A product strategy refers to the company's long-term vision for a particular product. When it comes to product management, companies must strategize how they intend to bring the product vision to life, what challenges and pain points they may experience, and what the business can do to address these.

When this strategy is drilled down further to describe more nuanced activities, and day to day responsibilities, it becomes what is called a product roadmap.

In essence, a product strategy is a fundamental blueprint that forms the foundation of a new product. A product roadmap is the meaty actionable plan for every stage and activity within the product development and product management process. This roadmap gives a detailed guide to both the internal and external stakeholders of the company about how to implement their plans and strategy. It offers an order of priority for tasks, key performance indicators for each stage of the product development and management process, and short-term goals to achieve.

Product design & development 

At this stage is the actual implementation of the roadmap. Here the hardware & software development teams work together to create an initial design for the product. The product manager liaises with other departments like sourcing, sales, finance, delivery, etc., to understand how best to build a product that is feasible and which can offer real value to customers.

Minimum viable product (MVP) market testing, feedback collection & MVP improvements

product testing and improvements

When the new product reaches a developmental stage where it can be used by customers, it is tested for performance. At this stage, it is still considered a minimum viable product (MVP) and not a fully developed product.

The MVP may be given as free samples to a small population. Or it may be sold in select geography at a low starting price. The opinions and reactions of the users will be noted, along with active feedback. This stage is crucial to product management since it helps the company create a product that is designed for customers to add true value.

Any changes that may be suggested or any other observed flaws in the MVP will be addressed at this stage. This MVP market testing, feedback collection, and MVP improvement loop will continue happening until the product reaches a developmental stage where it is relatively free of all flaws and can be safely used by customers.

Product Marketing

This stage happens after the product’s design is finalized and production is underway for more units before the official launch. The product manager works with the marketing team to create content to advertise the upcoming launch. More marketing materials will be created to facilitate prospects’ decision-making and purchase journeys.

Product launch

The product launch refers to the formal release and introduction of the product to the world. The launch can happen in multiple ways, from simple advertisements to full-scale parties. This is again a great time to collect user feedback and plan for future product iterations.

Post-launch customer support

The role of a product management team does not end with the launch. Product development isn’t a linear process; instead, it involves continuous improvements and updates. The product management team will also take care of the post-launch customer feedback collection, support provision, product modifications, etc.

The product management team is responsible for the product until it is retired from its product portfolio.

Product manager v2

A great product manager and the perfect development teams can make your product launch a roaring success.

Product management can set your company up for success in your competitive market when done smartly and skillfully. Whether you’re a start-up releasing its very first product or a decades-old company looking to revamp your product management process, you can work wonders when you have an expert’s insights at your disposal.

Our team of highly experienced product managers and engineering teams at Pro Dev have helped many companies worldwide and from different industries bring their product visions to life. Our tailored product design, development and project management services can give you the leg up you need to thrive in your market. Contact us to start discussing your product management needs.

product design data

5 Important Ethical Considerations in Product Design

Explore critical ethical considerations in product design, from accessibility and user privacy to data security and digital well-being. Learn more now.

read more
product designer digital tool

How to Create a Successful Product Design Portfolio

Impress potential clients and employers with a curated product design portfolio highlighting your expertise. Crafted for success in New Zealand.

read more
industrial designers NZ

Navigating Intellectual Property in Industrial Design

Learn how to safeguard your designs and stay ahead in the market by understanding intellectual property in industrial design. Get expert insights and tips now.

read more
product design planning

Applying the Principles of Minimalism in Product Design

Discover how to integrate minimalism into your product design with essential functions, streamlined form, high-quality materials, and optimal user interaction.

read more

Sustainable Practices in Industrial Design and Manufacturing

Explore key sustainable practices in industrial design and manufacturing, from responsible material sourcing to energy efficiency.

read more
recycling materials

Designing for the Circular Economy: Embracing Reuse and Recycling

Learn about designing products for a circular economy: reuse, recycling, waste reduction, and energy efficiency for sustainability.

read more
product prototyping

Understanding the Importance of Prototyping in the Design Process

Explore how prototyping drives innovation, turning ideas into functional products that exceed expectations and thrive in competitive markets.

read more
metal material for Product design

Exploring Materiality: Choosing the Right Materials for Product Design

Choose suitable materials for product design: functionality, durability, aesthetics, cost-effectiveness, sustainability, user experience, and compliance.

read more
product manufacturing v2

Understanding the Importance of Quality Control in Manufacturing

Discover the role of quality control in manufacturing for compliance, production optimisation, cost reduction, liability mitigation, and customer satisfaction.

read more
3d printing prototype

Innovations in 3D Printing and Its Role in Industrial Design

Explore the evolution of 3D printing, its role in industrial design, and how innovations in this technology are reshaping manufacturing processes.

read more
CAD in product design

Understanding the Role of CAD in Product Design

Explore the transformative impact of Computer-Aided Design (CAD) on modern product design, revolutionizing the innovation process in various industries.

read more
Product Design Manufacturing

Understanding How Design for Manufacturability (DFM) Works

Unlock efficient manufacturing with Design for Manufacturability (DFM). Learn principles, benefits, and examples. Engage with design experts for optimal results.

read more
industrial design products 1

The Intersection of Art and Function in Industrial Design

Discover industrial design's dynamic blend of creativity and innovation, shaping a world where functionality, culture, sustainability, and emotion converge.

read more
industrial design products

A Quick Look at the Evolution of Industrial Design

Discover the history and future of industrial design, from Bauhaus to 3D printing. Explore the influences shaping this creative and innovative field.

read more
rapid prototyping

6 Benefits of Rapid Prototyping in Product Design and Manufacturing

Revolutionise product development with rapid prototyping—swift, cost-efficient, collaborative, flaw-detecting, customisable, and streamlining processes.

read more
Product design for people with disabilities

Designing for Accessibility: Inclusivity in Industrial Design

Dive into inclusive industrial design, prioritising user needs, universal principles, ergonomics, accessible materials, and intuitive controls.

read more
successful executive asia young businesswoman smart casual wear drawing writing using pen with digital tablet computer thinking inspiration search ideas working process modern office

Navigating Entrepreneurial Passion in the Realm of Product Development

Some of the best things ever made often start out as an inspirational idea. It could be because the person with the idea noticed a glaring need that was never addressed, or maybe was not addressed satisfactorily. Many people are often moved by the idea that "this could always be made better", and this idea also happens

read more
business presentation

Mastering the Complex Landscape of Product Development Challenges

In and of itself, product development is no simple feat. To the untrained eye, it involves masterful planning, complex processes, requiring accurate mathematical precision, and a good amount of monitoring when the actual production gets underway. A new product is actually the result of hundreds, if not thousands, of ho

read more
bulb with speecch bubbles

Navigating the Art of Novel Product Ideas in the Modern World

Considering the modernity of the world today, figuring out an idea for a new product is both severely limiting and potentially limitless. It is limiting in that the way product development has shaped throughout the years, manufacturers have created almost something for everything, making ideas for new products somewhat

read more
online marketing

What Goes into New Product Development?

Ask anyone who is into new product development and they will mostly agree: bringing in a new product from idea to reality is both the most wonderful thing and the most nerve-wracking thing in the world.

read more
Product concept testing team

The Role of Collaboration and User-Centered Product Design

Collaboration and user-centred design are integral to the country's design process, helping designers create functional and visually appealing products while meeting consumers' needs.

read more
emotional connection

Designing for Emotional Connection: How to Create Products That Resonate

Designers who prioritise emotional connection in their work may see more significant results in customer satisfaction, loyalty, and business success.

read more
product manufacturing

A Guide to Understanding the Manufacturing Process (+Steps and Types)

Manufacturing consulting is a crucial component of the product development process that contributes to the efficiency and competence of the entire procedure.

read more
3D model designs

A Quick Guide to Product Design: Deeper Understanding of What Your Product Designers Do

A product designer understands what it takes to produce a functional and aesthetically pleasing design. Creating a successful product design requires much effort, but another issue is rectifying faults and consistently staying current with new trends.

read more
Pro Dev with Chinese manufacturers 1

A Quick Guide to Understanding the Phases of Product Development

Every path to a final product during product development is diverse, and each sector has challenges while innovating. The process of product creation necessitates consistency and balance for most businesses. Entrepreneurs who want to be profitable and relevant must always come up with and produce new items that succeed

read more
From Ideation to Manufacturing Product Development Guide

From Ideation to Manufacturing: Product Development Guide

If you've decided to bring your idea into development into a product, understanding the process associated with it can help you understand behind the scenes better.

read more
Product Compliance

10 Best Practices for Management of Product Compliance

Product Compliance Management monitors future regulations to ensure that your systems, team, and processes are prepared for them. Improve your Product Compliance Management with the following practices.

read more
People using industry disrupting innovations

How To Create An Industry-Disrupting Product

Disruptive innovation spurs growth and finds new and better ways to solve problems. Understand your industry before creating a disruptive marketing strategy.

read more

12 Steps of the Product Design Process

A product design process is essential for creating high-quality, user-friendly products. Following a well-defined step-by-step process, you can create visually appealing products that work well for their intended purposes. Creating a new product should be as smooth and straightforward as possible.

read more
Facial Recognition

Facial Recognition: The Future of Biometrics Security

If you are a fan of spy movies, you will find gadgets not yet invented come to life. Fingerprint scan. Voice activation. Facial recognition

read more
a person scanning a QR Code for cashless payment

How QR Codes are Transforming the Contactless World

Quick Response (QR) Technology is an advanced innovation that became a readily available solution. It’s a type of barcode that is read by a digital device and can store information in the form of a series of packed pixels.

read more
new product launch

7 Ways to Identify a Winner Product Idea

Only a fraction of thousands of products launched every month succeed. To guarantee that your product idea will succeed, it should gain traction once it is out in the market.

read more
Design production Mass manufacturing

Find a Good Manufacturing Company: What You Need to Know

Unleash your innovative ideas with the right manufacturing company. Explore types of partners, essential considerations, and the path to turning your vision into reality.

read more
Dual level cabin

Exploring Vertically Staggered Airplane Seating

Discover the innovative concept of vertically staggered aeroplane seating and its potential benefits for airlines and passengers. Explore how this alternative seating arrangement can maximize space utilization, enhance comfort, and potentially revolutionize the passenger experience.

read more
Product Design and Parts Christchurch

Benefits of Rapid Prototyping You Should Know

All products resulted from conceptualising, designing, and prototyping hours before they hit the market.

read more
brainstorming for product design customer journey

What is Product Lifecycle Management and It's Benefits?

Discover the concept of Product Lifecycle Management (PLM) and explore how it can benefit businesses in terms of longevity, market insights, consumer behavior, and brand sustainability.

read more
Product manager v2

A Comprehensive Guide to Product Design

The term "product" can evoke a wide range of imageries in mind. When you walk into a retail store, you pick up products—things that satisfy your needs and want.

read more
product lifecycle management

Why Understanding the Product Lifecycle is Important

Gain insights into the significance of the product lifecycle and how it impacts business decisions, marketing strategies, and long-term success.

read more
product management report

Product Concept Testing

Product concept testing is a research method that involves asking your customers or target audience what they feel about the concept of a product or service before launching it.

read more
Project management

Product Management

Product management refers to a series of activities that deal with managing a product's lifecycle. The product management job starts right from planning for a new product.

read more

Benefits of CAD Design in Product Development

Time is money, as the old saying goes, so heightened productivity will positively impact your corporate bottom line.

read more
Los Angeles Product Design

A Complete Guide to Industrial Design Storyboard

A storyboard can help you predict the outcome of your product. It'll help you visualise the users' experience with the product.

read more
marker rendering of product designers

From Idea to Marker Rendering: Product Designers Guide

Whether you're working alone or with a team of designers and product managers, having a clear picture of the product you're creating is vital to the success of the project.

read more
Product design Concept

What is Product Design and How Does it Work?

Every step in the product design process involves detail-oriented expertise combined with efficient project management and today's best methods and software platforms.

read more
product manufacturing work

How Does Product Manufacturing Work

Bringing your vision for an original product to reality is undoubtedly one of many business owners' biggest hurdles.

read more
3D Product Design

What to Expect When Working with an Industrial Designer?

Industrial design is a field of design that involves creating and developing products that are not only functional but also aesthetically pleasing, safe, and user-friendly.

read more
marketing team getting to know their target market v2

Elevating Product Innovation: The 7 Stages of Product Innovation

In this article, we will explore the 7 stages of product innovation, from idea generation to launch. We will also discuss where to manufacture a new product and the importance of working with a product design services company.

read more
User centred product design and development

Why User-Centred Design is Crucial to Product Development Success

Design is all about problem-solving, and people-centred design approaches prioritise the user as the central element of the design process.

read more