Product Manager

Job Description

Product Managers are responsible for product planning and marketing. Their role is essential as it sets the strategy, roadmap, and feasibility of a product or product line. Product Managers identify potential products, conduct product research, produce production timetables, and develop marketing strategies. They also help determine product pricing. 

Typical Duties and Responsibilities 

  • Determine customers’ needs and desires for a product or product line
  • Recommend the nature and scope of present and future product lines to customers
  • Articulate the business value to the product team, so they understand the intent for a new product or product release 
  • Define the release process and coordinate the activities needed to bring the product to market 
  • Identify potential products
  • Conduct product research
  • Produce production timelines
  • Develop marketing strategies
  • Generate and develop new product ideas 
  • Ensure product planning and development integrates customer feedback and requests 
  • Communicate ideas to customers, partners, and internal team members 
  • Work closely with engineers on technical specifications 

Education and Background 

This position requires a bachelor’s degree in business or a related field, preferably with classes in marketing, communications, economics, advertising, and statistics. 

Skills and Competencies 

  • Excellent verbal and written communication skills
  • Computer skills, including Microsoft Office Suite (Word, PowerPoint, and Excel)
  • Strong interpersonal skills and the ability to work well with others
  • Outstanding math and analytical skills
  • Solid decision-making skills
  • Expertise in negotiating
  • Keen attention to detail 
  • Ability to delegate tasks to a team
  • Proficiency in research and analysis 

Compensation 

According to Payscale the median annual salary of a Product Manager with

1 Year of Experience:

  • Orlando, Florida: $60,000
  • Tampa, Florida: $69,000
  • Jacksonville, Florida: $63,000
  • Miami, Florida: $58,000
  • Atlanta, Georgia: $76,000
  • Chicago, Illinois: $65,000
  • Houston, Texas: $71,000
  • Los Angeles, California: $70,000
  • New York City, New York: $70,000
  • Seattle, Washington: $80,000
  • Overall: $68,000

5 Years of Experience:

  • Orlando, Florida: $65,000
  • Tampa, Florida: $75,000
  • Jacksonville, Florida: $70,000
  • Miami, Florida: $70,000
  • Atlanta, Georgia: $80,000
  • Chicago, Illinois: $83,000
  • Houston, Texas: $73,000
  • Los Angeles, California: $80,000
  • New York City, New York: $90,000
  • Seattle, Washington: $88,000
  • Overall: $84,000

Similar Job Titles 

  • Product Marketing Manager 
  • Business Analyst 
  • Technical Product Manager 
  • Program Manager 
  • Product Owner 
  • Technical Program Manager 

Career Path 

The path to becoming a Product Manager starts with earning a bachelor’s degree in business or a related field, preferably with classes in marketing, communications, economics, advertising, and statistics. Most employers provide on-the-job training to help an individual become familiar with a product’s features. 

Position Trends 

One major trend changing the product management field is Product Managers are playing a more significant role. They no longer simply oversee product development or organize team tasks; they now play a role in product strategy and overall customer experience. Product Managers are increasingly seen as leaders within their companies. 

Job Outlook 

According to the U.S. Bureau of Labor Statistics, the need for Product Managers should grow by eight percent between 2018 to 2028. This growth rate is faster than average. 

Typical Hours 

Product Managers usually work regular office hours, 9 a.m. to 5 p.m., in an office setting.

Where You Can Find Jobs 

  • 4 Corner Resources
  • Career Builder 
  • Glassdoor 
  • Indeed 
  • LinkedIn
  • Monster

Are You Interested in Becoming a Product Manager? 

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