What Is Product Management

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WHAT IS PRODUCT MANAGEMENT?

As the world leans towards the fourth industrial revolution, digitization and automation are leading the way in which people do stuff and how business transactions are carried out. This odds reality is handled by a variety of software that computers, raising the demand for different software products to meet the needs of the company.

This rapid development has made it important for the needs of managing such digital products to meet the needs and desires of the consumer who uses the software product as a service in their day-to-day business activities.

Different brands (companies) have created different goods, some of which are similar, and competition can not be undermined while fulfilling the needs and protecting the interests of consumers with an acceptable Return on Investment (ROI). Achieving the necessary business requirements can not be accomplished by merely finding the best selection of software developers to code, taking into account the needs of consumers or customers, this is precisely what product management is all about.

Product Management means to develop the right product for the right users and to ship it at the right time.

Product management is not an event, but a method of managing the affairs of a product, ranging from preparation or idea generation, design, production and delivery to meet the needs of business and customers.

The product management process doesn’t stop at deploying the products it is a continuous process often managed by a Product Manager to keep track of the product usage by the clients who use the product through analytics, this helps determine features to be retained or adjust, new features that could aides clients retention and new market penetrations.

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