- Blog Categories
- Software Development Projects and Ideas
- 12 Computer Science Project Ideas
- 28 Beginner Software Projects
- Top 10 Engineering Project Ideas
- Top 10 Easy Final Year Projects
- Top 10 Mini Projects for Engineers
- 25 Best Django Project Ideas
- Top 20 MERN Stack Project Ideas
- Top 12 Real Time Projects
- Top 6 Major CSE Projects
- 12 Robotics Projects for All Levels
- Java Programming Concepts
- Abstract Class in Java and Methods
- Constructor Overloading in Java
- StringBuffer vs StringBuilder
- Java Identifiers: Syntax & Examples
- Types of Variables in Java Explained
- Composition in Java: Examples
- Append in Java: Implementation
- Loose Coupling vs Tight Coupling
- Integrity Constraints in DBMS
- Different Types of Operators Explained
- Career and Interview Preparation in IT
- Top 14 IT Courses for Jobs
- Top 20 Highest Paying Languages
- 23 Top CS Interview Q&A
- Best IT Jobs without Coding
- Software Engineer Salary in India
- 44 Agile Methodology Interview Q&A
- 10 Software Engineering Challenges
- Top 15 Tech's Daily Life Impact
- 10 Best Backends for React
- Cloud Computing Reference Models
- Web Development and Security
- Find Installed NPM Version
- Install Specific NPM Package Version
- Make API Calls in Angular
- Install Bootstrap in Angular
- Use Axios in React: Guide
- StrictMode in React: Usage
- 75 Cyber Security Research Topics
- Top 7 Languages for Ethical Hacking
- Top 20 Docker Commands
- Advantages of OOP
- Data Science Projects and Applications
- 42 Python Project Ideas for Beginners
- 13 Data Science Project Ideas
- 13 Data Structure Project Ideas
- 12 Real-World Python Applications
- Python Banking Project
- Data Science Course Eligibility
- Association Rule Mining Overview
- Cluster Analysis in Data Mining
- Classification in Data Mining
- KDD Process in Data Mining
- Data Structures and Algorithms
- Binary Tree Types Explained
- Binary Search Algorithm
- Sorting in Data Structure
- Binary Tree in Data Structure
- Binary Tree vs Binary Search Tree
- Recursion in Data Structure
- Data Structure Search Methods: Explained
- Binary Tree Interview Q&A
- Linear vs Binary Search
- Priority Queue Overview
- Python Programming and Tools
- Top 30 Python Pattern Programs
- List vs Tuple
- Python Free Online Course
- Method Overriding in Python
- Top 21 Python Developer Skills
- Reverse a Number in Python
- Switch Case Functions in Python
- Info Retrieval System Overview
- Reverse a Number in Python
- Real-World Python Applications
- Data Science Careers and Comparisons
- Data Analyst Salary in India
- Data Scientist Salary in India
- Free Excel Certification Course
- Actuary Salary in India
- Data Analyst Interview Guide
- Pandas Interview Guide
- Tableau Filters Explained
- Data Mining Techniques Overview
- Data Analytics Lifecycle Phases
- Data Science Vs Analytics Comparison
- Artificial Intelligence and Machine Learning Projects
- Exciting IoT Project Ideas
- 16 Exciting AI Project Ideas
- 45+ Interesting ML Project Ideas
- Exciting Deep Learning Projects
- 12 Intriguing Linear Regression Projects
- 13 Neural Network Projects
- 5 Exciting Image Processing Projects
- Top 8 Thrilling AWS Projects
- 12 Engaging AI Projects in Python
- NLP Projects for Beginners
- Concepts and Algorithms in AIML
- Basic CNN Architecture Explained
- 6 Types of Regression Models
- Data Preprocessing Steps
- Bagging vs Boosting in ML
- Multinomial Naive Bayes Overview
- Gini Index for Decision Trees
- Bayesian Network Example
- Bayes Theorem Guide
- Top 10 Dimensionality Reduction Techniques
- Neural Network Step-by-Step Guide
- Technical Guides and Comparisons
- Make a Chatbot in Python
- Compute Square Roots in Python
- Permutation vs Combination
- Image Segmentation Techniques
- Generative AI vs Traditional AI
- AI vs Human Intelligence
- Random Forest vs Decision Tree
- Neural Network Overview
- Perceptron Learning Algorithm
- Selection Sort Algorithm
- Career and Practical Applications in AIML
- AI Salary in India Overview
- Biological Neural Network Basics
- Top 10 AI Challenges
- Production System in AI
- Top 8 Raspberry Pi Alternatives
- Top 8 Open Source Projects
- 14 Raspberry Pi Project Ideas
- 15 MATLAB Project Ideas
- Top 10 Python NLP Libraries
- Naive Bayes Explained
- Digital Marketing Projects and Strategies
- 10 Best Digital Marketing Projects
- 17 Fun Social Media Projects
- Top 6 SEO Project Ideas
- Digital Marketing Case Studies
- Coca-Cola Marketing Strategy
- Nestle Marketing Strategy Analysis
- Zomato Marketing Strategy
- Monetize Instagram Guide
- Become a Successful Instagram Influencer
- 8 Best Lead Generation Techniques
- Digital Marketing Careers and Salaries
- Digital Marketing Salary in India
- Top 10 Highest Paying Marketing Jobs
- Highest Paying Digital Marketing Jobs
- SEO Salary in India
- Brand Manager Salary in India
- Content Writer Salary Guide
- Digital Marketing Executive Roles
- Career in Digital Marketing Guide
- Future of Digital Marketing
- MBA in Digital Marketing Overview
- Digital Marketing Techniques and Channels
- 9 Types of Digital Marketing Channels
- Top 10 Benefits of Marketing Branding
- 100 Best YouTube Channel Ideas
- YouTube Earnings in India
- 7 Reasons to Study Digital Marketing
- Top 10 Digital Marketing Objectives
- 10 Best Digital Marketing Blogs
- Top 5 Industries Using Digital Marketing
- Growth of Digital Marketing in India
- Top Career Options in Marketing
- Interview Preparation and Skills
- 73 Google Analytics Interview Q&A
- 56 Social Media Marketing Q&A
- 78 Google AdWords Interview Q&A
- Top 133 SEO Interview Q&A
- 27+ Digital Marketing Q&A
- Digital Marketing Free Course
- Top 9 Skills for PPC Analysts
- Movies with Successful Social Media Campaigns
- Marketing Communication Steps
- Top 10 Reasons to Be an Affiliate Marketer
- Career Options and Paths
- Top 25 Highest Paying Jobs India
- Top 25 Highest Paying Jobs World
- Top 10 Highest Paid Commerce Job
- Career Options After 12th Arts
- Top 7 Commerce Courses Without Maths
- Top 7 Career Options After PCB
- Best Career Options for Commerce
- Career Options After 12th CS
- Top 10 Career Options After 10th
- 8 Best Career Options After BA
- Projects and Academic Pursuits
- 17 Exciting Final Year Projects
- Top 12 Commerce Project Topics
- Top 13 BCA Project Ideas
- Career Options After 12th Science
- Top 15 CS Jobs in India
- 12 Best Career Options After M.Com
- 9 Best Career Options After B.Sc
- 7 Best Career Options After BCA
- 22 Best Career Options After MCA
- 16 Top Career Options After CE
- Courses and Certifications
- 10 Best Job-Oriented Courses
- Best Online Computer Courses
- Top 15 Trending Online Courses
- Top 19 High Salary Certificate Courses
- 21 Best Programming Courses for Jobs
- What is SGPA? Convert to CGPA
- GPA to Percentage Calculator
- Highest Salary Engineering Stream
- 15 Top Career Options After Engineering
- 6 Top Career Options After BBA
- Job Market and Interview Preparation
- Why Should You Be Hired: 5 Answers
- Top 10 Future Career Options
- Top 15 Highest Paid IT Jobs India
- 5 Common Guesstimate Interview Q&A
- Average CEO Salary: Top Paid CEOs
- Career Options in Political Science
- Top 15 Highest Paying Non-IT Jobs
- Cover Letter Examples for Jobs
- Top 5 Highest Paying Freelance Jobs
- Top 10 Highest Paying Companies India
- Career Options and Paths After MBA
- 20 Best Careers After B.Com
- Career Options After MBA Marketing
- Top 14 Careers After MBA In HR
- Top 10 Highest Paying HR Jobs India
- How to Become an Investment Banker
- Career Options After MBA - High Paying
- Scope of MBA in Operations Management
- Best MBA for Working Professionals India
- MBA After BA - Is It Right For You?
- Best Online MBA Courses India
- MBA Project Ideas and Topics
- 11 Exciting MBA HR Project Ideas
- Top 15 MBA Project Ideas
- 18 Exciting MBA Marketing Projects
- MBA Project Ideas: Consumer Behavior
- What is Brand Management?
- What is Holistic Marketing?
- What is Green Marketing?
- Intro to Organizational Behavior Model
- Tech Skills Every MBA Should Learn
- Most Demanding Short Term Courses MBA
- MBA Salary, Resume, and Skills
- MBA Salary in India
- HR Salary in India
- Investment Banker Salary India
- MBA Resume Samples
- Sample SOP for MBA
- Sample SOP for Internship
- 7 Ways MBA Helps Your Career
- Must-have Skills in Sales Career
- 8 Skills MBA Helps You Improve
- Top 20+ SAP FICO Interview Q&A
- MBA Specializations and Comparative Guides
- Why MBA After B.Tech? 5 Reasons
- How to Answer 'Why MBA After Engineering?'
- Why MBA in Finance
- MBA After BSc: 10 Reasons
- Which MBA Specialization to choose?
- Top 10 MBA Specializations
- MBA vs Masters: Which to Choose?
- Benefits of MBA After CA
- 5 Steps to Management Consultant
- 37 Must-Read HR Interview Q&A
- Fundamentals and Theories of Management
- What is Management? Objectives & Functions
- Nature and Scope of Management
- Decision Making in Management
- Management Process: Definition & Functions
- Importance of Management
- What are Motivation Theories?
- Tools of Financial Statement Analysis
- Negotiation Skills: Definition & Benefits
- Career Development in HRM
- Top 20 Must-Have HRM Policies
- Project and Supply Chain Management
- Top 20 Project Management Case Studies
- 10 Innovative Supply Chain Projects
- Latest Management Project Topics
- 10 Project Management Project Ideas
- 6 Types of Supply Chain Models
- Top 10 Advantages of SCM
- Top 10 Supply Chain Books
- What is Project Description?
- Top 10 Project Management Companies
- Best Project Management Courses Online
- Salaries and Career Paths in Management
- Project Manager Salary in India
- Average Product Manager Salary India
- Supply Chain Management Salary India
- Salary After BBA in India
- PGDM Salary in India
- Top 7 Career Options in Management
- CSPO Certification Cost
- Why Choose Product Management?
- Product Management in Pharma
- Product Design in Operations Management
- Industry-Specific Management and Case Studies
- Amazon Business Case Study
- Service Delivery Manager Job
- Product Management Examples
- Product Management in Automobiles
- Product Management in Banking
- Sample SOP for Business Management
- Video Game Design Components
- Top 5 Business Courses India
- Free Management Online Course
- SCM Interview Q&A
- Fundamentals and Types of Law
- Acceptance in Contract Law
- Offer in Contract Law
- 9 Types of Evidence
- Types of Law in India
- Introduction to Contract Law
- Negotiable Instrument Act
- Corporate Tax Basics
- Intellectual Property Law
- Workmen Compensation Explained
- Lawyer vs Advocate Difference
- Law Education and Courses
- LLM Subjects & Syllabus
- Corporate Law Subjects
- LLM Course Duration
- Top 10 Online LLM Courses
- Online LLM Degree
- Step-by-Step Guide to Studying Law
- Top 5 Law Books to Read
- Why Legal Studies?
- Pursuing a Career in Law
- How to Become Lawyer in India
- Career Options and Salaries in Law
- Career Options in Law India
- Corporate Lawyer Salary India
- How To Become a Corporate Lawyer
- Career in Law: Starting, Salary
- Career Opportunities: Corporate Law
- Business Lawyer: Role & Salary Info
- Average Lawyer Salary India
- Top Career Options for Lawyers
- Types of Lawyers in India
- Steps to Become SC Lawyer in India
- Tutorials
- C Tutorials
- Recursion in C: Fibonacci Series
- Checking String Palindromes in C
- Prime Number Program in C
- Implementing Square Root in C
- Matrix Multiplication in C
- Understanding Double Data Type
- Factorial of a Number in C
- Structure of a C Program
- Building a Calculator Program in C
- Compiling C Programs on Linux
- Java Tutorials
- Handling String Input in Java
- Determining Even and Odd Numbers
- Prime Number Checker
- Sorting a String
- User-Defined Exceptions
- Understanding the Thread Life Cycle
- Swapping Two Numbers
- Using Final Classes
- Area of a Triangle
- Skills
- Software Engineering
- JavaScript
- Data Structure
- React.js
- Core Java
- Node.js
- Blockchain
- SQL
- Full stack development
- Devops
- NFT
- BigData
- Cyber Security
- Cloud Computing
- Database Design with MySQL
- Cryptocurrency
- Python
- Digital Marketings
- Advertising
- Influencer Marketing
- Search Engine Optimization
- Performance Marketing
- Search Engine Marketing
- Email Marketing
- Content Marketing
- Social Media Marketing
- Display Advertising
- Marketing Analytics
- Web Analytics
- Affiliate Marketing
- MBA
- MBA in Finance
- MBA in HR
- MBA in Marketing
- MBA in Business Analytics
- MBA in Operations Management
- MBA in International Business
- MBA in Information Technology
- MBA in Healthcare Management
- MBA In General Management
- MBA in Agriculture
- MBA in Supply Chain Management
- MBA in Entrepreneurship
- MBA in Project Management
- Management Program
- Consumer Behaviour
- Supply Chain Management
- Financial Analytics
- Introduction to Fintech
- Introduction to HR Analytics
- Fundamentals of Communication
- Art of Effective Communication
- Introduction to Research Methodology
- Mastering Sales Technique
- Business Communication
- Fundamentals of Journalism
- Economics Masterclass
- Free Courses
5 Reasons Why Product Management is Important in Software Industry
Updated on 22 November, 2022
11.91K+ views
• 6 min read
Table of Contents
From Google to Microsoft, from Freshworks to UrbanClap, most technology firms have adopted successful product management strategies. To achieve such heights, software product firms should have talented product managers for growing their businesses.
Importance of Product Management In Software Firms
The world is increasingly moving towards a product-enabled services model. Whether its global technology giants like Google and Microsoft or startups such as Freshworks or UrbanClap, most successful firms have rolled out products that solve customers’ problems in many ways. This trend has further gained pace with the rising adoption of subscription-based SaaS (Software-As-A-Service) model by enterprises as a cost-effective measure to pay as they use.
In this perspective, companies have to continually innovate in the product space to stay relevant in the competitive technology market. However, the product development process requires constant feedback from customers, but it also requires an effective marketing strategy that will drive the demand. Therefore, product management is the most critical aspect of the success of a product.
Read: A complete guide on product manager career path
Importance of Product Management
The entire lifecycle of a product- since inception to disposal-requires active management. As developers of a software product are mostly technical experts with little exposure to clients, product management experts act as bridges between clients and technology firms.
Check out our management programs to upskill yourself.
1. Understanding customers’ requirement
Product management helps in gauging the changing needs of customers. As product managers regularly interact with existing customers and are on the lookout for new ones, they usually get to know the pain points first and give the product development team the lead for a new product. Their deep involvement with clients enables them to provide timely feedback to the development team about the existing products. This leads to an improvement in product features with increased customer satisfaction.
2. Developing an adequate business model
The go-to-market strategy is a critical element for ensuring the product’s success in this hypercompetitive technology market. Even the right products can fail without effective product marketing. So, product managers take the feedback from the sales team, which is spread across various geographies, to devise an adequate go-to-market strategy with the right product positioning for ensuring success. Product managers also help create the right business model for getting a good return on investment throughout the product’s life cycle.
3. Skilling strategy
Product managers help devise the right training strategy for both sales and product teams to drive demand for the product. As customers’ needs change with time, organizations fine-tune their sales strategy accordingly with the help of product managers. Even product managers give critical inputs on future skill sets that will be in demand, which help the management to align their skilling and hiring plans.
4. Creating a product roadmap
Software products usually have short shelf lives. Therefore, every technology company should have a clear roadmap for products to stay relevant in the long run. Product management helps attain this objective as product managers help the management devise a clear blueprint in product space, which leads to carve-out of funds for research and development.
Explore our Popular Management Programs
5. Timely support services
Product managers take feedback from clients and give it to the support and maintenance of team members. This leads to a vibrant support environment for the clients with early resolution of problems. As a satisfied customer usually gives more business or refers the vendor to other clients, it leads to more business opportunities for the technology firm.
As product management is critical for any software product company’s success, demand for product managers has seen a steady rise. Typically, a product manager works closely with marketing, sales, design, and engineering teams to make the product a success. Given such demand, the ed-tech firm, upGrad, offers a product management course to professionals, which imparts necessary skill sets to be a good product manager.
Read: Product Management vs Product Marketing: Which One Should You Choose
upGrad’s Exclusive Product Management Webinar for you –
How to craft GTM Strategy for a Product?
Post Graduate Certificate in Product Management
upGrad, the ed-tech company with a range of courses around deep technology domains, offers a six-month-long Post Graduate Certificate in Product Management imparts students with required skill sets to build a product roadmap after going through the needs of customers. The course also teaches the nuances to do a prototype before launching the product in the market.
Top Management Skills to Learn
The product management course has been designed in collaboration with Duke Corporate Education (CE)- the not-for-profit arm of Duke University- and is being taught by faculties drawn from Duke CE, Microsoft, Google, Amazon, Hotstar, Goibibo, BookMyShow, Freshworks, and UrbanClap among others. Students pursuing this course receive active mentoring from industry leaders for practical knowledge.
Conclusion
As emerging technologies such as artificial intelligence, machine learning, and big data make deep inroads into our daily lives, the usage of product-based services is likely to rise. This will lead to increasing demand for product managers in the market, and upGrad’s product management program can help professionals cash in these new opportunities. In a way, a product manager directs the company on a competitive path in the future.
Our Top Management Articles
Study Product Management Courses online from the World’s top Universities. Earn Masters, Executive PGP, or Advanced Certificate Programs to fast-track your career.
If you are highly intrigued by what you read, you can enroll in the Post Graduate Certificate in Product Management offered by upGrad. The certification program delivered by experts will help you kickstart your career to be a successful product manager.
Frequently Asked Questions (FAQs)
Q1. What does a software product manager do?
The software product manager is responsible for heading and managing the entire software application management department. They are in charge of tasks such as planning and monitoring critical to developing the best quality of software applications. Software product managers are also responsible for overseeing and supervising the software application's goals, expectations, specialization, and structure. They also need to be involved in steps such as ideation and product strategy formulation, along with management of software releases and implementation of feature enhancements. They have to combine their product management expertise, project management, people management, and product marketing skills.
Q2. Can a fresher get hired as a product manager?
Over the past few years, there have been rising numbers of freshers being recruited for the role of product manager. But this trend is chiefly observed in the case of startups that are looking for fresh minds to play the part of product managers. Startup companies mainly look for candidates who possess strong analytical and problem-solving skills and have sound knowledge of different aspects of the marketing domain. They must also have outstanding communication skills and be motivated players who are also driven and conscientious. As product managers, they also have to interact and deal with different external and internal stakeholders of the organization.
Q3. How is product manager different from product owner in Agile?
In the conventional software development models like waterfall or iterative, the product manager owns the product roadmap and represents the client during internal team meetings. But in the Agile environment, the product owner is responsible for holding meetings with the stakeholders, grooming the backlogs, answering the development team's questions, and others. They are the ones who need to ensure that the sprint deliverables are readied as per schedule. Sometimes, these responsibilities are appointed to the product manager, i.e., they play the role of the product owner. But whether they play overlapping roles or not totally depends on the organization and its product lines.
RELATED PROGRAMS