Product Management As A Career
Summary
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- The product managers set the vision for the product and integrate their knowledge of technologies, various marketing techniques to enhance user experience, and thus maximizes the bussiness value of the product. Their main focus is on healthy functioning of three vehicles namely, the technology, designing and the users.
Career Opportunities in Product Management
How to Pursue a Career in Product Management
Stream | Graduation | After Graduation | After Post Graduation | |
---|---|---|---|---|
Path 1
| Clear Class XII in any Stream | Pursue Graduation in Any Discipline for 3-4 years | Pursue M.B.A in Marketing for 2 years | - |
Path 2
| Clear Class XII in any Stream | Pursue Graduation in Any Discipline for 3-4 years | Pursue Certificate Course for 1 year in Product Management | - |
Important Facts
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Leading Institutes
Top Institutes in India to Pursue Product Management
College | Location | Website |
---|---|---|
Indian Institute of Management - Ahmedabad | Ahmedabad | www.iimahd.ernet.in/ |
Indian School of Business -Hyderabad | Hyderabad | www.isb.edu |
Indian Institute of Management - Bengaluru | Bengaluru | www.iimb.ac.in/ |
Indian Institute of Management - Kolkata | Kolkata | www.iimcal.ac.in/ |
Indian Institute of Management - Lucknow | Lucknow | www.iiml.ac.in/ |
Xavier Labour Research Institute (XLRI) | Jamshedpur | www.xlri.ac.in/ |
Faculty of Management Studies - Delhi | Delhi | www.fms.edu/ |
S.P. Jain Institute of Management and Research (SPJIMR) | Mumbai | www.spjimr.org/ |
Indian Institute of Management - Indore | Indore | www.iimidr.ac.in |
Indian Institute of Management - Kozhikode | Kozhikode | www.iimk.ac.in |
TISS - Tata Institute of Social Sciences - Mumbai | Mumbai | www.admissions.tiss.edu/ |
Management Development Institute, Gurgaon (MDI) | Gurgaon | www.mdi.ac.in |
MICA - Mudra Institute of Communications Studies - Mumbai | Ahmedabad | www.mica.ac.in/ |
Apeejay School of Management, Delhi (ASM) | Delhi | www.apeejay.edu/asm/ |
WLC College India, Bangalore | Bangalore, Karnataka | www.wlcibusiness.in/ |
Narsee Monjee Institute of Management Studies - (NGA - SCE) | Mumbai, Maharashtra | www.distance.nmims.edu/ |
Top Institutes in the World to Pursue Product Management
Institution | Location | Website |
---|---|---|
Northwest University | USA | www.northwestu.edu/home/ |
Harvard Business School | USA | www.hbs.edu/about/Pages/default.aspx |
The Wharton School | Pennsylvania | www.wharton.upenn.edu/ |
INSEAD | Singapore | www.insead.edu/ |
Stanford University | USA | www.stanford.edu/admission/ |
London Business School | UK | www.london.edu/ |
Important Entrance Exams
Postgraduate
Institution | Tentative Date | Important Elements | Website |
---|---|---|---|
CAT | Aug-Sept | Quantitative Aptitude; Verbal & Reading comprehension; Data Interpretation & Logical Reasoning | www.iimcat.ac.in/per/g01/pub/756/ASM/WebPortal/1/index.html?756@@1@@1 |
GMAT/GRE – Anytime over the year | Jan | Verbal Reasoning, Quantitative Reasoning and Analytical Writing | www.isb.edu/pgp/admissions/admission-calendar |
XAT | Aug-Nov | Verbal and Logical Ability; Decision Making; Quantitative Ability & Data Interpretation; General Knowledge. Also includes Essay Writing as a part of the test. | www.xatonline.net.in/ |
SPJET | Oct-Dec | Quantitative Aptitude; Verbal & Reading comprehension; Data Interpretation & Logical Reasoning | www.spjain.org/programs/undergraduate/entrance-test |
TISS-NET | Dec | General Awareness, English Proficiency, Logical Reasoning | www.admissions.tiss.edu/admissions/ma/programmes/ |
MICAT I MICAT II | End of Sep– Nov (for MICAT I) Jan (for MICAT II) | MICAT – Psychometric, Verbal Ability, Quantitative Ability, General Awareness, Divergent-convergent Reasoning, Descriptive test | www.mica.ac.in/postgraduate-programme/selection-process-and-timelines |
AICET | Aug– Dec | Quantitative Ability, Communication Ability, Analytical Ability, General knowledge & Current affairs | www.admissions.wlci.in/aicet-2016.html |
NMAT | July– Oct | Language skills, Quantitative skills, Logical reasoning | www.nmat.org.in/test-takers/dates-and-fees/ |
Work Description
- Have a deep understanding of customer experience and identify and fill product gaps
- Generate new ideas for the product to grow market share
- Create new products or strategies based on market and consumer research
- Determining a product's pricing based on exhaustive reach of competition and target customers
- Convert product strategy into detailed requirements and prototypes for development
- Work closely with multiple stakeholders like management team, engineering team and marketing team
- Evaluate promotional plans to ensure that they are in-line with product strategy
- Be Responsible for the creative, innovative side of business as well the analysis and strategy end sides
- Lead product launches by coordinating with public relations team, analysts, executives and other marketing team members.
Pros & Cons of a Career in Product Management
Pros
- Get to explore various fields such as technology, designing, marketing, etc.
- Remunneration is good
Cons
- They are the stratergy leader, therefore if a product doesn’t do well, they are accountable for that.
- Should be good at influencing, in order to align work to others.
- Have to come up with new ideas, which can be tedious.
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