What Does A Product Manager/Sales Do (2023)

FAQs

What does product manager do with sales? ›

A product manager for sales is a member of the company's sales team. Product managers for sales handle a specific product line which they will work on to boost sales. They create sales campaigns centered around the product.

A product manager connects business strategy, design knowledge, and customer needs in order to develop a product that is relevant, feasible, and valuable.

“One of the core attributes of a great product manager, at his or her core, is being a strong leader, being able to set a vision, being able to persuade people, and being able to motivate a team toward a shared outcome.”

Every product manager must understand the market, the needs of the customer, the capabilities of the engineering team, and the vision of the leadership. Keeping all these elements in mind, a product manager must chalk out a product strategy and roadmap that is sustainable, feasible, and affordable.

It also includes working with sales, marketing and support to ensure revenue and customer satisfaction goals are met. The Product Manager's job also includes ensuring that the product and marketing efforts support the company's overall strategy and goals.

Part of a product manager's responsibilities is to search out, gather, handle, and prioritize customer needs and wants. Knowing the market requirements is key to a successful product. They need to understand why customers buy products as well as what the competition is doing.

Understand the Market, the Customers, and the Product

One of the most important first steps for a new product manager is to understand the market. The best way to do so is to get as close to the customer as you can.

Team and stakeholders management.

On the other hand, the product manager has to negotiate with stakeholders and balance their demands and expectations.

What's the hardest part of product management? Our research shows that the hardest parts of the job for many product managers are organizational comms, managing deadlines, team alignment, and balancing different responsibilities.

What are the two major responsibilities of a product manager? ›

A successful product manager puts customers and their needs first. Any new or improved product should build more value for clients and the company as a whole, rather than boosting sales temporarily. As a product manager, you'll need to collect data about your customers and what makes them tick.

Product Manager Responsibilities

Defines the product vision, strategy and roadmap. Gathers, manages, and prioritizes market/customer requirements. Acts as the customer advocate articulating the user's and/or buyer's needs.

Generally, a product manager has a revenue goal equal to what's in the company's strategic plan, NOT the total target for the sales force. Nevertheless, when both the product managers and sales people have some form of aligned revenue goals, your products will generally perform better.

Product Managers guide the development of a company's product or feature, and serve as liaison between business, technology, and design teams. They lead cross-functional initiatives and manage tasks, tools, relationships in every phase of development, from product planning through launch and beyond.

Product management can be quite stressful due to the level of autonomy and responsibility given. Learning to balance the expectations of the role with the ambiguity that surrounds it is key to a successful and healthy career as a product manager.

The demand for these professionals is high in the market and many companies pay handsome amounts for this role. That's the primary reason product manager salary in India is quite high. The ever increasing demand.

Product managers must follow updates in the industry, from new trends in technology to popular marketing strategies. So, they read news/blogs related to their work area and talk to other PMs. Also, they talk to users/customers to sustain their relationships healthily and get feedback about their products.

The 5 areas you need to make decisions about are: PRODUCT, PRICE, PROMOTION, PLACE AND PEOPLE. Although the 5 Ps are somewhat controllable, they are always subject to your internal and external marketing environments. Read on to find out more about each of the Ps.

What are the 4 P's of product management? ›

The four Ps are product, price, place, and promotion. They are an example of a “marketing mix,” or the combined tools and methodologies used by marketers to achieve their marketing objectives.

In most organisations, the PM does not own the P&L. The P&L ownership lies with a general manager or the business unit leader. A PM deals with financials when preparing a business plan, and tracking usage.

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.

A product manager is the person in a company that understand the customer and his needs, the product and it's business aspects and how this product gets created and delivered to the customer. The product manager is the person that can balance these perspectives within the company.

The typical product manager has worldwide responsibility for three products.

As an example, many product managers lead with the weakness of “I wish I were more technical”, but it's rare that technical knowledge would fundamentally change the way that a product decision was made. We want to see that you understand where to focus your time, rather than just calling out random weaknesses.

A core product management skill is to have knowledge of market and industry trends and being able to set and track key KPIs, such as customer acquisition costs, customer conversion rate, daily active users, features usage, user churn, Net Promoter Score, customer satisfaction, and customer lifetime value.

What do companies look for in product managers? ›

Dark side #1: The responsibilities and boundaries of the Product Manager role are often unclear. Dark side #2: Your days are often filled with meetings, leaving you little to no focus time. Dark side #3: Everything always takes longer than you think; especially software development.

The average age of an employed product manager is 39 years old.

I learned that people and teams build great products, not processes and job descriptions. The quality of the teamwork will directly reflect in the quality of the product. My biggest failure as a product manager was failing to build a foundation of teamwork before starting a project with a new cross-functional team.

Finally, product management is not about pricing, promotions, positioning and messaging, or product launch activities. Nor is it about online marketing and customer acquisition strategies or influencer marketing programs.

You will love Product management if you are a person with great vision. If you know how to break that vision into tangible chunks and layout a plan to fulfill that vision, you will be a good PM. If you are empathetic and can put yourself into customers shoes every time before you think, you will be a great PM.

Product management is a well-paid job and has a high level of job satisfaction. The product manager's salary is primarily based on years of experience, job location and skills. The average annual salary for product managers can range from $61,000 to $200,000 per year.

The product manager's mindset is to deliver a Complete Product Experience, informed by thinking about what is best for the most customers. The sales manager thinks more of the individual customer or prospect and how to best serve them.

To the Sales team, product management can be the saviors who deliver shiny new products that let them have new discussions with their customers. They also provide information and support to help Sales to sell.

Is product manager a high paying job? ›

To put it simply - a lot! Depending upon the organization you end up working with, Product Management is one of the highest-paying jobs in the corporate world. An Indian MBA graduate can earn a median base salary of ₹ 15.2 lakhs per annum, excluding other salary components like bonuses.

The typical product manager has worldwide responsibility for three products.

The four are introduction, growth, maturity, and then decline. Products and companies progress through these stages of development and the way that you know which stage they're in is how much revenue they're making over time.

CPO / Chief Product Officer

A Chief Product Officer (CPO) is the most senior product person in an organisation. They usually manage more than one team of product managers and represent product in the C-suite or management team.

A sales team's primary objective must be selling the company products. Conversely, a product team's objectives are to fulfill the product roadmap. This can be accomplished by adding new features based on feedback, considering competitive innovations and levering the existing customer base .

The easy answer to this question — “What makes a great product manager?” — would be a list of skills. A long list that would include: subject matter expertise, outstanding communication skills, market knowledge, leadership ability, innovativeness, strong researching skills, the ability to think strategically, etc.

Crucial to the success of a company, a product manager has a big influence over every step of a product's journey. From idea inception up until delivery and beyond, their role is multifaceted. They are, at any one time, a leader, a creator, a problem-solver and a team builder.

Product management can be quite stressful due to the level of autonomy and responsibility given. Learning to balance the expectations of the role with the ambiguity that surrounds it is key to a successful and healthy career as a product manager.

With great responsibility, comes great stress. Due to its versatility, the role of a product manager is extremely challenging. Although this career is also very rewarding and fulfilling, it can often be frustrating for many reasons.

What is the minimum salary of a product manager? ›

Product Manager salary in India with less than 2 year of experience to 13 years ranges from ₹ 5.2 Lakhs to ₹ 35 Lakhs with an average annual salary of ₹ 17 Lakhs based on 32.5k latest salaries.