What does a Product Manager do?
The Product Manager manages the product development life cycle to ensure that it meets the requirements of customers. They create the product development strategy and oversee multiple teams involved in the process to deliver a product that will satisfy the customer base. Product Managers work with other department heads such as the sales teams, Project Managers and Customer Service Representatives. They establish the key features of a product and use market trends and customer buying habits data to create specifications and prototypes. Product Managers also develop strategies for positioning and pricing products.
Product Manager skills and qualifications
A successful Product Manager candidate will have various prerequisite skills and qualifications that include:
- Proven experience in product management or related role
- Knowledge of every aspect of the product development life cycle
- Excellent written and verbal communication skills
- Proven ability to manage and supervise multidisciplinary and cross-functional teams
- Ability to create product development and marketing strategies
- Strong leadership and project management skills
- In-depth knowledge about the industry and product’s users
- Ability to analyse complex data to identify market trends and customers’ behaviour
Product Manager experience requirements
Product Managers typically need to have working experience in their employer’s industry. Because of the organisational nature of the role, many employers prefer candidates who have management experience or have worked in positions related to the job. Product Managers should be experts in their product and have a good understanding of the business ecosystem. Employers often look for people who have successfully managed commercially successful product development and marketing campaigns.
Product Manager education and training requirements
The educational and training requirements of a Product Manager depend on the industry and the employer. Most employers consider candidates with a bachelor’s degree or higher national diploma in business management or related fields. Others accept Product Manager candidates with relevant apprenticeships or university short courses. Some employers prefer candidates with degrees in their industry. Certain Product Manager roles may also require industry-specific qualifications, although many employers provide on-the-job training. Candidates with extensive industry experience should also be considered even if they lack academic credentials.
Product Manager salary expectations
According to Indeed Salaries, the average salary for Product Manager candidates in the UK is £40, 207per year. Actual salary may depend on experience, educational qualifications, the employer, job duties and responsibilities, the industry and location.
Job description samples for similar positions
Here are job description samples for related positions if you are not specifically looking to employ a Product Manager: