Product Management

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    Product Management

    Product management is an organizational function that guides every step of a product’s lifecycle: from development, to positioning and pricing, by focusing on the product and its customers first and foremost. To build the best possible product, product managers advocate for customers within the organization and make sure the voice of the market is heard and heeded.

    Thanks to this focus on the customer, product teams routinely ship better-designed and higher-performing products. In tech, where entrenched products are quickly uprooted by newer and better solutions, there is more need than ever for an intimate understanding of customers and the ability to create tailored solutions for them. That’s where product management comes in.

    Customers’ needs, and expectations are changing, sometimes overnight. To make sure your products and service keep pace you need a product management strategy built for today’s dynamic business environment. We can help you achieve an end-to-end transformation that enables you to:

    • Reinvent your offerings based on a complete understanding of your customers’ raw need
    • Work across organizational boundaries to effectively harness your talent and IP
    • Apply test-and-learn approaches to boost innovation and shorten time-to-market
    • And, install a closed-loop system to measure and improve every element of the customer experience
    • From strategic planning and portfolio management through agile, front-line execution, we work closely with you to create a world-class product management capability.

    Core Functions of a Successful Product Management Routine

    There are actions that every product manager must do, and most are developed through experience, good role models, and mentoring. Some examples of the routine of a PM are:

    • Conducting customer interviews and user testing
    • Running design sprints
    • Feature prioritization and roadmap planning
    • The art of resource allocation
    • Performing market assessments
    • Translating business-to-technical requirements, and vice versa
    • Pricing and revenue modeling
    • Defining and tracking success metrics

    The product manager’s role goes beyond only strategizing. More often than not, these professionals adopt a hands-on approach to promote and improve collaboration among many other roles.

    And to manage all functions within the Product Management role, it’s essential to define what to prioritize, how to communicate with other teams and standardize the process. You can count on Niftek to help you with organizing and controlling your daily work.

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