Types of product management:
Insights :
a. User Research:
A product manager conducts user research to understand the needs and preferences of their target audience. For example, they might conduct surveys or interviews to gather feedback on a new product feature.
b. Market Research:
A product manager conducts market research to understand the competitive landscape and identify trends and opportunities in the market. For example, they might analyze sales data or conduct a SWOT analysis to inform their product strategy.
Growth:
a. Engagement Growth:
A product manager focuses on increasing user engagement with their product. For example, they might implement gamification techniques or introduce new features to encourage users to spend more time using the product.
b. User Growth:
A product manager focuses on acquiring new users for their product. For example, they might launch a referral program or invest in targeted advertising to attract new customers.
c. Revenue Growth:
A product manager focuses on increasing revenue from their product. For example, they might introduce new pricing plans or upsell existing customers to generate more revenue.
Analytics:
a. Success Indicators:
A product manager uses success indicators to measure the performance of their product. For example, they might track metrics such as user retention, conversion rates, and customer satisfaction to evaluate the success of their product.
b. Tooling & Reporting:
A product manager uses analytics tools and reporting to gather and analyze data about their product. For example, they might use tools such as Google Analytics or Mixpanel to track user behavior and generate reports on key metrics.
c. Generating Insights:
A product manager uses data analysis to generate insights about their product and inform their decision-making. For example, they might use data mining techniques to identify patterns in user behavior and make data-driven decisions about how to improve their product.
Shipping:
a. Collaborate with Tech/Design:
A product manager works closely with technical and design teams to develop and launch new products or features. For example, they might collaborate with developers and designers to create wireframes and prototypes for a new feature.
b. Prioritization:
A product manager is responsible for prioritizing the development of new features and enhancements for their product. For example, they might use a prioritization framework such as the Kano model or the MoSCoW method to decide which features to develop first.
c. Project Management:
A product manager uses project management techniques to ensure that new products or features are delivered on time and within budget. For example, they might use tools such as Gantt charts or agile methodologies to manage the development process.
Strategy:
a. Vision:
A product manager develops a vision for their product that outlines its long-term goals and direction. For example, they might create a vision statement that describes the impact they want their product to have on the world.
b. Product Strategy:
A product manager develops a strategy for their product that outlines how it will achieve its goals and compete in the market. For example, they might conduct a Porter’s Five Forces analysis to identify opportunities and threats in the market and develop a plan to address them.
c. Product Roadmap:
A product manager creates a roadmap for their product that outlines its development plans over time. For example, they might create a timeline that shows when new features will be released and what resources will be required to develop them.
Domain Expertise:
a. Industry Landscape:
A product manager has a deep understanding of the industry landscape in which their product operates. For example, they might have expertise in the regulatory environment or the competitive dynamics of their industry.
b. Resourcefulness:
A product manager is resourceful and able to find creative solutions to challenges that arise during the development of their product. For example, they might use crowdsourcing or open innovation techniques to generate new ideas or solve problems.
I hope these examples help illustrate the different types of product management