Product Manager – Who is it?

Product Management – What is it?

On these pages, we have talked in detail about product management, an organizational function widespread within those companies that are dedicated to the development of products and/or services. The product management function goes through several stages, from the generation of ideas to the creation of the prototype, to the launch on the market, passing through the analysis and receipt of feedback. Within these processes, product management is that iterative framework essential for intercepting, deciphering, and measuring needs from the public side, so as to be able to imagine and deliver products that bring real value to the end-user.

Product Manager – Who it is?

In this article, we will go into detail on the figure of the Product Manager – to understand what his role is, what his responsibilities are, how much he earns and how to pursue this career. Until twenty years ago there was still a lot of confusion behind this profession, in Europe as well as overseas. Product management in one form or another already existed, but the term “product manager” only started popping up in job description title taglines after 2000.
To better understand who the product manager is in terms of knowledge and skills, we can refer to the diagram of Martin Eriksson, founder of ProductTank, which places him at the intersection of business, technology, and user experience.

What does a Product Manager do?

The product manager is the person in charge of identifying the customer’s needs, placing them in an economic relationship with the business objectives of the company. Its role is fundamental in the research and analytical processing phases, in the development of the strategic vision shared with the management and stakeholders. Product managers set goals, define ways of success, help motivate teams, and are directly responsible for the final result.

The Responsibilities of a Product Manager

We can define some responsibilities on a general level, the specific responsibilities vary according to the size of the company. In larger organizations, for example, product managers are integrated into larger teams that include researchers, analysts, developers, designers, and marketers. Within these environments, work on the product is in a continuous flow: projects are developed, prototypes are tested, feedback is received and bugs are fixed. At the same time, there is a lot of work to be done to keep the teams and internal departments involved together. In smaller organizations, on the other hand, there are fewer stakeholders to agree on, but also less productive force and useful resources in developing a strategic vision.

Generally speaking, the 6 responsibilities of a product manager are:

1. Understanding and representing user needs.
2. Monitor the market and develop competitive analyzes.
3. Define a vision related to a product.
4. Align stakeholders around that product vision.
5. Prioritize product features and capabilities.
6. Ensuring that larger teams have access to that shared intelligence that enables them to make decisions on their own.

These numbers are much lower than the American average: in the United States, the RAL of a product manager on average is 99,000 euros a year – given that it immediately makes us understand how this figure is more taken into account overseas. But even in England, we are on proportions of double or triple the Italian figure – ranging from 80,000 to 120,000 euros gross per year.

What a job posting looks like

Below are the skills, duties, and activities envisaged taken from a real job advertisement for ‘Product Manager for eCommerce’.

Skills required

• Verbal, written, and visual communication
• Strong organizational skills
• Compliance with the deadlines
• Skills in managing online communities

Software, tools, and operating environments

• Acquaintance with Atlassian
• Basic knowledge of Adobe package (XD, Illustrator, InDesign
• Good familiarity with Apple Keynote and Microsoft Powerpoint
• Using Ahrefs and Semrush

Planned activities

• Continuous analysis and research of the competitive scenario
• Report preparation aimed at involving stakeholders
• Identification of buyer personas and development of ad hoc strategies
• Setting up the corporate website organic growth strategy
• Preparation and coordination of the editorial plan
• Constant follow-up with external supply companies for the preparation of digital assets
• Communication plan on product update releases
• Monitoring of product and brand positioning on foreign markets
• Positioning on comparison portals and management of reviews
• Support the product owner in the management of customer satisfaction analysis campaigns
• Develop communication strategy in line with objectives and budget

The job market for a Product Manager in Italy

Looking at the job vacancies on Glassdoor for Italy, the search trend is growing. If we look at the Florence area, for example, there are many open positions. Brands such as Granarolo, Menarini, Team system, Yoox, Knauf, Vodafone, Baker Hughes, Monte Dei Paschi, Trenitalia, Cisco System, and many others are looking for a product manager. Apparently at the level of demand, on the national level, large companies are beginning to understand the importance of this role. But how are we doing with the offer? How does one become a product manager and what are the training courses?

How do you become a product manager?

To date, there is no course of study to undertake this profession, nor a qualification or certification, nor is there a history of hiring to determine a standard training model. However, we know that most companies looking for product managers look to undergraduate and postgraduate education. The presence of relevant qualifications, especially a bachelor’s or master’s degree, is, therefore, one of the minimum requirements. What are the sectors in which to specialize? What are the sectors in which to specialize? There is no single answer to this question. Looking at the market, it can be seen that skills in economics and business organization, communication, marketing, and sales are often required. The driving sectors – those in which there are more job opportunities, according to the ProductPlan types, are four: IoT; Health; Banks and Finance; Entertainment. Regardless of the areas of intervention, that of the product manager is an increasingly sought-after figure.

Depending on the specific product sector, the skills required can be very specific: just think of the profound background differences between a product manager who has always worked in the fast fashion sector and one who comes from the world of pharmaceutical chemistry.

The education courses offered in Italy

In Italy, those who want to take up this profession enroll in courses in business administration, business management, communication sciences, and marketing.
The specific offer for product managers is mostly limited to sporadic higher university training courses and small intensive seminars. For example, the School of Management of the Politecnico di Milano organizes a two-day course for marketing and product managers. The idea is to provide the skills to develop a new product development plan in a marketing logic, understanding the insights from customers.

Product Manager vs Project Manager

The differences between the two figures are substantial – the function of backlog analysis, vision processing, directional alignment, and strategic supervision is reserved for the product manager. The project manager, on the other hand, takes care of everything that has to do with the executive plan: the planning, choice, and control of resources, the passage through the different phases of the lifecycle.

Product Manager vs Product Owner

The term Product Owner is related to Scrum, a framework for applying the Agile methodology. Specifically, the product owner is the customer’s representative within the work team. Compared to the product manager, the product owner is less concerned with strategy and marketing. His figure is that of a project manager who identifies the needs, needs, and desires on the customer side, organizing himself in the phases of receiving the product backlog and interacting with the development teams.

What are the skills of a Product Manager?

There are 5 essential skills

Strategic processing

Strategic thinking gives us a clear view of the market and the state of affairs of the competition. By proposing a vision, the product manager sets realistic and achievable goals in front of the teams. By planning it is possible to respect those objectives or change them, if necessary.

Different roles of Product Management

Going to close the picture we have drawn, let’s see what the specific roles are. The two most successful product manager cases are:

• a corporate marketing expert with a great passion for the UX
• a lead developer who understands the product so well that he can start guiding its creation

Since it is often difficult to find these people, in some companies the product management function is widespread. Let’s find out more with the example of Atlassian. There they use a triad – one lead of development, one of design, and one in business. Three figures work together to guide the product strategy. In support of the triad there are certainly project managers, but also other figures:

• Chief Product Officer (CPO) – Leads the product function within the company organization, assigning project managers to their respective teams.
• Product Owner (PO) – Has a more active role in product development – manages the backlog and communication with other stakeholders.
• Product Marketing Manager (PMM) – Increase the product team’s abilities to reach and learn from customers through tailored marketing campaigns.
• User Experience Researcher (UX) – Dedicated UX Researcher studies user behavior and makes usability recommendations.