Product management organizations can have a profound effect on a company’s success – or failure – and every C-level executive should thoughtfully and intentionally utilize product management as a key member of the C-team.
Simply put, no other person in the company understands all the following better than the product manager:
- Market
- Sales process
- Competition
- Product roadmap
- Why the product(s) win and lose
- Users
- Product lifecycle
- Price sensitivity
- M&A opportunities
- Vision
Here are statements from C-Suite friends of mine from different companies who have embraced Product Management:
Product management decisions can make-or-break a company or a product. Product management should be the central aggregation point that considers market needs, customer needs, and company strategy. From those inputs, a product vision and associated strategy is the outcome of which priorities for funding engineering efforts, sales, go-to-market strategy, pricing, packaging, positioning, services, and operation plans result. In this manner, product management should be the heart and soul of the product direction.
If you haven’t had a thorough assessment of your product management function performed, then you’re creating risk for the health and performance of your company. At Egress Solutions Inc., we help companies gain deeper insights into their markets and dramatically improve the effectiveness of their product teams. Contact us today!
A special thanks to our contributors: Greg Coticchia, Jim Holland, Mike May, Jay Nakagawa, Mike Smart, Steve Veregge
