Product Manager

What is a Product Manager?

A product manager is responsible for guiding the development, strategy, and success of a product by balancing market demands, customer needs, and business goals. They conduct research, prioritize features, and collaborate with cross-functional teams to ensure smooth development and successful product launches.

The Basic Idea

Have you ever come across a new app, gadget, or tool and thought, “Wow, I didn’t even realize I needed this until now?” Often, the development of a successful new product that fills a gap in the market is thanks to a stellar product manager. On a professional team, the product manager (PM) is responsible for guiding a product’s development, strategy, and success, all while balancing the market’s demands, customer needs, and the goals of the business.

Defining The Goals

But what does a product manager actually do? To start, a good product manager will first define the product vision and strategy. They identify market opportunities, set long-term goals, and ensure that the product aligns with the company's strategic objectives. Product managers conduct extensive research to understand customer needs, market trends, and competitive landscapes. This involves gathering feedback from users, analyzing market data, and staying informed about industry developments.

Connecting the Product and Stakeholders

In addition to collecting data from customers on the product and its pain points, product managers will work closely with a variety of team members, including engineers, designers, marketers, and sales teams. Product managers prioritize features, manage the product backlog, and ensure the development process runs smoothly. They are the primary point of contact between different departments and stakeholders, communicating the product vision and ensuring alignment across the organization.

Executing Project Launch

Finally, product managers are responsible for planning and executing product launches, working with marketing and sales teams to develop go-to-market strategies. They ensure the product reaches the target audience and has the desired impact on the market. After the product is launched, product managers monitor its performance using key metrics and feedback, analyzing the data to identify areas for improvement and work on iterating the product to enhance user satisfaction and achieve business objectives.

“Your job as a product manager is not to define the ultimate product. It’s to define the smallest possible product that will meet your goals.”


– Marty Cagan, Inspired: How To Create Products Customers Love

About the Author

A smiling woman with long blonde hair is standing, wearing a dark button-up shirt, set against a backdrop of green foliage and a brick wall.

Annika Steele

Annika completed her Masters at the London School of Economics in an interdisciplinary program combining behavioral science, behavioral economics, social psychology, and sustainability. Professionally, she’s applied data-driven insights in project management, consulting, data analytics, and policy proposal. Passionate about the power of psychology to influence an array of social systems, her research has looked at reproductive health, animal welfare, and perfectionism in female distance runners.

About us

We are the leading applied research & innovation consultancy

Our insights are leveraged by the most ambitious organizations

Image

I was blown away with their application and translation of behavioral science into practice. They took a very complex ecosystem and created a series of interventions using an innovative mix of the latest research and creative client co-creation. I was so impressed at the final product they created, which was hugely comprehensive despite the large scope of the client being of the world's most far-reaching and best known consumer brands. I'm excited to see what we can create together in the future.

Heather McKee

BEHAVIORAL SCIENTIST

GLOBAL COFFEEHOUSE CHAIN PROJECT

OUR CLIENT SUCCESS

$0M

Annual Revenue Increase

By launching a behavioral science practice at the core of the organization, we helped one of the largest insurers in North America realize $30M increase in annual revenue.

0%

Increase in Monthly Users

By redesigning North America's first national digital platform for mental health, we achieved a 52% lift in monthly users and an 83% improvement on clinical assessment.

0%

Reduction In Design Time

By designing a new process and getting buy-in from the C-Suite team, we helped one of the largest smartphone manufacturers in the world reduce software design time by 75%.

0%

Reduction in Client Drop-Off

By implementing targeted nudges based on proactive interventions, we reduced drop-off rates for 450,000 clients belonging to USA's oldest debt consolidation organizations by 46%

Read Next

Notes illustration

Eager to learn about how behavioral science can help your organization?