All tasks of a product manager can be correlat with different stages of the life cycle. 1. Market research and idea development At the first stage, the product manager researches the market and potential customers, namely: Analyzes competitors. Evaluates which solutions have already been creat and which niches are still free. Studies trends. Gets acquaint with news and innovations in the industry in which he works.
Including conducting marketing research
Surveys, interviews, focus groups. Bas on the analysis, the manager comes up with a number of hypotheses about what kind of product the market nes: what romania phone number library problems the target audience has and how they can be solv. If there are many hypotheses, the team conducts additional research and selects one or two best ideas that will be put into operation.
The most effective way to confirm or disprove
A hypothesis is to create a minimum viable product (MVP). Such a product has a minimum of functions, but still solves the client’s main problem. If you offer it to users, you can confirm or disprove the existence of demand. 2. Creating a product strategy In the second stage, the manager creates a product strategy. This is a document that describes: CA. For whom the product is creat. Functionality. What capabilities will it have?
Competitive advantage
How the new solution will differ from existing products. Finance. What expenses are plann and what should be the financial result. Project roadmap . Stages indulge in luxury dining like never before of product creation and launch to the market. If the product is being develop internally, such a strategy must be defend before the management or investment committee. If the product is for an external client, the presentation is made for them.
After the product strategy has been agre upon
Funding must be allocat for development. 3. Product development At the third stage, the product manager is directly involv in the development of the product. To cg leads do this, he assembles a team and organizes its work. The team may include analysts, programmers, designers, testers and other experts. In some cases, a project manager is involv in the development . This is a specialist who coordinates the team and brings the work to the final within the specifi time frame and with the requir budget.