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Product Management As A Career

Product Management As A Career

Summary

  • 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

StreamGraduationAfter GraduationAfter Post Graduation
Path 1
Clear Class XII in any StreamPursue Graduation in Any Discipline for 3-4 yearsPursue M.B.A in Marketing for 2 years-
Path 2
Clear Class XII in any StreamPursue Graduation in Any Discipline for 3-4 yearsPursue Certificate Course for 1 year in Product Management-

Important Facts

NA

Leading Institutes

Top Institutes in India to Pursue Product Management
CollegeLocationWebsite
Indian Institute of Management - AhmedabadAhmedabadwww.iimahd.ernet.in/ 
Indian School of Business -HyderabadHyderabadwww.isb.edu 
Indian Institute of Management - BengaluruBengaluruwww.iimb.ac.in/ 
Indian Institute of Management - KolkataKolkatawww.iimcal.ac.in/ 
Indian Institute of Management - LucknowLucknowwww.iiml.ac.in/ 
Xavier Labour Research Institute (XLRI)Jamshedpurwww.xlri.ac.in/ 
Faculty of Management Studies - DelhiDelhiwww.fms.edu/ 
S.P. Jain Institute of Management and Research (SPJIMR)Mumbaiwww.spjimr.org/ 
Indian Institute of Management - IndoreIndorewww.iimidr.ac.in 
Indian Institute of Management - KozhikodeKozhikodewww.iimk.ac.in 
TISS - Tata Institute of Social Sciences - MumbaiMumbaiwww.admissions.tiss.edu/ 
Management Development Institute, Gurgaon (MDI)Gurgaonwww.mdi.ac.in 
MICA - Mudra Institute of Communications Studies - MumbaiAhmedabadwww.mica.ac.in/ 
Apeejay School of Management, Delhi (ASM)Delhiwww.apeejay.edu/asm/ 
WLC College India, BangaloreBangalore, Karnatakawww.wlcibusiness.in/ 
Narsee Monjee Institute of Management Studies - (NGA - SCE)Mumbai, Maharashtrawww.distance.nmims.edu/ 
Top Institutes in the World to Pursue Product Management
InstitutionLocationWebsite
Northwest UniversityUSAwww.northwestu.edu/home/
Harvard Business SchoolUSAwww.hbs.edu/about/Pages/default.aspx 
The Wharton SchoolPennsylvaniawww.wharton.upenn.edu/ 
INSEADSingaporewww.insead.edu/ 
Stanford UniversityUSAwww.stanford.edu/admission/
London Business SchoolUKwww.london.edu/ 

Important Entrance Exams

Postgraduate
InstitutionTentative DateImportant ElementsWebsite
CATAug-SeptQuantitative Aptitude; Verbal & Reading comprehension; Data Interpretation & Logical Reasoningwww.iimcat.ac.in/per/g01/pub/756/ASM/WebPortal/1/index.html?756@@1@@1 
GMAT/GRE – Anytime over the yearJanVerbal Reasoning, Quantitative Reasoning and Analytical Writingwww.isb.edu/pgp/admissions/admission-calendar 
XATAug-NovVerbal 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/ 
SPJETOct-DecQuantitative Aptitude; Verbal & Reading comprehension; Data Interpretation & Logical Reasoningwww.spjain.org/programs/undergraduate/entrance-test
TISS-NETDecGeneral Awareness, English Proficiency, Logical Reasoningwww.admissions.tiss.edu/admissions/ma/programmes/ 
MICAT I MICAT IIEnd of Sep– Nov (for MICAT I) Jan (for MICAT II)MICAT – Psychometric, Verbal Ability, Quantitative Ability, General Awareness, Divergent-convergent Reasoning, Descriptive testwww.mica.ac.in/postgraduate-programme/selection-process-and-timelines 
AICETAug– DecQuantitative Ability, Communication Ability, Analytical Ability, General knowledge & Current affairswww.admissions.wlci.in/aicet-2016.html 
NMATJuly– OctLanguage skills, Quantitative skills, Logical reasoningwww.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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