Every now and then digital products and brands keep upgrading and launching new features to keep users engaged and offer new and innovative services. All these creative ideas are brought alive by Product Managers.
If you are wondering “How to become a Product Manager in India?”, this article will provide all the details about Product Managers, what a product manager do, the technical skills required for a product manager, what to study to become a product manager, salary, etc.
What is Product Management?
Project Management is an essential Organizational function involving the building of new digital products and features.
The process involves every step of a product’s lifecycle from the conception of an idea to launching for general access and keep upgrading to meet user expectations and behaviour.
Product managers make sure to understand customers and that their interests are reflected in the product of the feature.
Effective Product Management is a sign of Entrepreneurial behaviour. It enables identifying the gap in service and customer expectation by deploying a solution to reap economic or marketing value out of it.
Many products and features make an emotional impact that becomes a Unique Selling Point. Product Management makes a meaningful impact by aggregating feedback from all the stakeholders to optimize the product offering.
Who is a Product Manager?
A Product Manager is a professional who conceptualizes, oversees, and manages a product throughout its lifecycle.
From brainstorming to reap the economic benefits of a product, a Product Manager strategizes the product placement.
In simple terms, the role of a Product Manager is to
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- Conceptualize an idea, and build a vision, strategy, and roadmap.
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- Prioritize customer interest and behaviour and ensure it is reflected in the product.
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- Work in collaboration with engineering, sales, marketing, and support departments to optimize the product before and after launch.
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- Act on the statistical data by analyzing the insights generated from user activities.
Types of Product Managers
Depending upon their core area of expertise and the business domain, Product Managers are of different types to suit changing digital business dynamics. They are
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- Design Product Manager
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- Tech Product Manager
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- Business Product Manager
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- Data Product Manager
Product Manager Roles And Responsibilities
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- Conduct research on user or customer interest and behaviour.
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- Build products in collaboration with engineering, sales, and marketing teams by understanding customer requirements.
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- Manage, monitor, and control the lifecycle of a product
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- Generate insights based on product performance and analytics
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- Explore internal opportunities for improvement and scaling a product
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- Provide expertise and guidance to the team to build a viable product.
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- Device strategy to launch and promote the product to the right target audience in collaboration with the marketing team.
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- Manage end-to-end development from product conception to launch.
Skills Required to Become A Product Manager
Here is a list of product manager skills that you should consider holding if you want to be a good product manager.
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- Strong Communication and Interpersonal skills
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- Proficiency in technical products
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- Business and management skills
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- Customer Relationship Management
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- Leadership skills
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- Analytical and Presentation skills
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- Conduct efficient Market Research
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- Marketing strategies
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- Understanding customer interest and behaviour
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- Understanding of Business and Finance terminologies
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- Project Management
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- Teamwork and collaboration
Qualifications of a Product Manager
If you are wondering about Product Manager Qualifications, there are a few academic requirements to become a Product Manager. They are
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- Undergraduate degree preferably in Engineering, Computer Science, or Management.
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- Master of Business Management (MBA) (not mandatory).
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- Certification and Training in Product Management.
How to Become a Product Manager in India? A Step-by-Step Guide!
Here is a step-by-step guide to becoming a Product Manager in India:
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- Take up Science or Commerce stream in +2 or 12th standard.
- Candidates from a Science background in +2 should clear the entrance exam to secure admission to engineering courses in Software Engineering or Information Technology. If not, they can also enroll in a Bachelor’s program in Computer Science.
- Candidates from a Commerce background should enroll in Bachelor’s program in Business Management.
- After completing Bachelor’s program, candidates need to clear PG entrance exams to secure admission to the Master of Business Administration (MBA) program.
- MBA is not mandatory but will help develop the major skills required to become a Product Manager.
- Enroll in certification programs in Product Management.
- Start working at entry level in companies involved in digital product building and gain practical experience and over a course of a few years, you can become a Product Manager.
Career Opportunities For A Product Manager
Product managers are a key part of an Organization with digital offerings and platforms for customer engagement.
Product management is a process that helps build products to customer interest. Here are some of the popular designations in Product Management.
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- Associate Product Manager
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- Product Manager
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- Group Product Manager
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- Director of Product Management
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- VP of Product Management
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- Chief Product Officer
Product Manager Salary
The Average Salary of a Product Manager is India is Rs.16L/annum. The entry-level salary of a Product Manager is Rs.5.5L/annum.
Depending upon the experience and success in the portfolio, the salary can range up to Rs.35L/annum.
Product Management Courses In India
Although Product Management is playing a vital role in the digital business environment, the academic field is yet to match the pace.
Most of the courses available in India are online and offered in partnership with international universities. The top courses for Project Management are
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- Post Graduate Program in Product Management
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- Post Graduate Program in Business Analysis and Product Management
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- Post Graduate Certificate Program in Product Management
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- Professional Certificate in Product Management
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- Executive program in Product and Business Management
Pros and Cons of Being a Product Manager
The pros of being a Product Manager
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- Highly paying role
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- Influence market behaviour
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- Work with people with different expertise
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- Higher Career prospects
The cons of being a Product Manager
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- No clear definition of the role
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- Accountability
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- Less Authority
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- Less Appreciation
Summary
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- Product Managers are a vital part of digital product building where they provide a vision for a product taking into account a lot of factors such as economic viability, target customers, market dynamics, etc to launch a digital feature or a product.
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- Although a high-paying designation, Product management is stressful and is often a lonely job where there is a high level of accountability and less appreciation.
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- The academic approach is not quite developed and there are many short-term certification programs offered by prestigious institutions in India which can be pursued to become a Product Manager.
Frequently Asked Questions
Product Management is a multi-skill role. Check if you have the necessary skills to become a Product Manager.
There is no set timeline for becoming a Product Manager and it takes between 5-10 years to become a Product Manager.
MBA is not needed for Product Management but it’ll help your candidacy to become a Product Manager.
Yes, the Product Manager is a high-paying designation.
Strategic thinking, Communication, and Negotiation are three important skills of a Product Manager.
Yes, coding is not mandatory to become a Product Manager but having a brief idea about technical aspects is a good trait in a Product Manager.
Because of the dynamic nature of the role, being a Product Manager is stressful.
The entry-level salary of a Product Manager is Rs.5.5L/annum and the average salary is Rs.16L/annum.
Product Management is a lonely job and one usually needs to work alone in certain stages of development.
Yes, Product Managers use SQL to generate reports and retrieve information. To know more about how to become a product manager in India go through the article above.
