According to the Bureau of Labor Statistics, proficient product managers have the potential to transform their careers into lucrative professions. It is anticipated that the demand for skilled product managers will escalate at a faster-than-normal rate when compared with other professions. Even today, all sorts of organisations, from media to manufacturing, find this profession vital for their expansion in the competitive business environment.
A Product Manager’s foremost duty is to initiate a vision and goals for an organisation’s products and carry out every necessary step to execute that vision. In addition, they ensure the smooth functioning of the four core elements, including technology, marketing, design, and customer satisfaction. Thus, Product Managers must be well-informed with the latest technological advancements and possess comprehensive marketing knowledge in order to enhance user experience and maximise the business value of the organisation’s product.
These renowned universities impart niche programmes to train future product managers with requisite skills. For example, a PGDM in Product Management at ISBR, Bangalore, deals with the supervision and administration of the complete life process of a product, from the foundation of product idea and strategising its marketing campaigns to the delivery of the product. A PGDM in Product Management encompasses the study of everything associated with a product’s successful launch in a market. Additionally, ISBR’s Product Management programme not only enlightens you with marketing expertise but also assists you to be proficient in working with the latest technological tools and platforms.
Let’s explore how the PGDM programme in this multi-disciplinary area can expand a perfect launching pad for exceptional opportunities and career growth.
How does ISBR’s PGDM in Product Management help you shine as a leader?
Being a product manager, you are the central hub for immense knowledge. You are responsible for every nuance, from crucial information about the product to the market. Additionally, it would be best to build specific skill sets to thrive in this profession. Therefore, a PGDM in Product Management enables you to develop a range of skills essential to succeed at a role that requires coordination and communication with varied departments, other business leaders, and customers.
While work experience or past education may provide exposure to particular skills, a PGDM in Product Management leads you to an in-depth view of the subject matter and help you hone your skills.
Some of those skills include:
- Being transparent: Most of the time, a Product Manager has to explain the “why” of the product to various stakeholders. Questions like “Why to choose a particular theme?” or “Why focus on a particular feature?” frequently come up for Product Managers. Therefore, Product Managers need to be transparent with their strategic ideas and logical with their plans.
- Capable of making evidence-based decisions: A product manager should possess expertise in utilising real-time data, metrics and customer feedback to make informed strategies. Product Managers should be proficient in making rigid arguments when required, and assembling evidence should be a legit skill.
- Be able to prioritise activities ruthlessly: Being a Product Manager, you must know the art of prioritising activities. Be it the number of members in the team or the budget; you will have access to limited resources. So, you need to prioritise and consider only the things required more than the other.
- Be an empathetic leader: All the employees of an organisation look up to a product manager for numerous answers and guidance. Therefore, a Product Manager should be able to intelligently guide their team members and be empathetic with them as you are in a position of authority. Thus, leadership skills should be deeply rooted in an aspirant who desires to be a Product Manager.
- Possess business skills: Product Managers should know how to bring profits to an organisation by developing a profitable product. Hence, business skills are incredibly essential for a product manager.
In the coming decade, Product Management will evolve tremendously, which will open doors to numerous opportunities for the professionals in the area. Hence, possessing all the above skills are valuable for you to be an intrinsic part of an organisation.
Moreover, the future of a product manager does look bright as the demand for professionals will only elevate over time. A range of organisations will demand skilled product managers who are versatile all-rounders who understand the distinction of product concept and development, design and marketing.
In addition, ISBR, Bangalore is one of the leading Business Schools of India that imparts a two-year AICTE Accredited PGDM in Product Management that is internationally validated and industry-accepted. Unlike general management programmes, ISBR’s Product Management Programme enables you to learn the general principles of management, business and leadership along with specialised new age Product skills for this digital age of advancements.