As companies strive to develop innovative products that meet customer needs and drive business growth, the demand for skilled product managers has steadily increased. This is where a complete product management course can significantly impact your career trajectory. According to The Future of Product Management 2023 report, product management was listed among the top 10 most promising jobs in 2023, with a strong year-over-year growth rate. Additionally, the report highlighted that professionals with product management skills have high earning potential, with median salaries well above the national average.
According to AmbitionBox, in India, the salary of a product manager with experience of 13 years can be up to ₹36L per annum. This substantial earning potential has piqued the interest of aspiring professionals, who are now eagerly considering a career in product management.
Read on to understand the importance of completing a product management course at a renowned ISB.
What is Product Management?
Product management is a discipline within business and technology that involves overseeing the development and lifecycle of a product or service. It encompasses a range of activities focused on understanding customer needs, defining product strategy, guiding product development, and driving its successful launch and ongoing growth.
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What are the Core Skills Required for a Career in Product Management?
A career in product management requires a diverse set of core skills to effectively navigate the complex landscape of developing and launching successful products. Now, let’s check the key skills required.
- Ability to gather data, identify trends, and understand customer needs to make informed product decisions
- Understanding and overseeing the lifecycle of product development from ideation to launch, ensuring alignment with objectives and timely delivery.
- Proficiency in extracting insights from user data, market trends, and product metrics to drive data-driven decision-making.
- Solid grasp of User Interface (UI) and User Experience (UX) principles to create user-friendly and visually appealing products.
- Basic knowledge of software development concepts, programming languages, and relevant technologies for effective communication with development teams and decision-making.
While these are the key technical skills required, there are a few soft skills that an individual must have, such as communication skills, strategic thinking skills, analytical skills, and an understanding of consumer behavior.
How Will Pursuing a Complete Product Management Course Accelerate Your Career Growth?
Completing a comprehensive product management course can significantly enhance your chances of getting hired by top companies and expanding your career in the field. It helps in the following ways.
- A professional certificate program provides a comprehensive knowledge of product management principles, methodologies, and best practices.
- Certificate programs often include practical exercises, case studies, and real-world projects that allow you to apply your learning to practical scenarios.
- These programs offer opportunities to connect with industry professionals, experienced instructors, and fellow participants.
- Earning a professional certificate in product management enhances your credibility in the eyes of employers and demonstrates your commitment to professional development.
ALSO READ: How to Become a Product Manager?
What are the Benefits of Choosing ISB’s Professional Certificate in Product Management?
This program is designed for individuals who have the vision to build world-class products. It is beneficial for mid-level managers seeking to build innovative products that deliver value to customers. Additionally, senior-level managers can create prototypes, understand product pricing, and make modifications to better suit customer needs. In fact, business heads and entrepreneurs can leverage this program to launch new products, shape product strategy, and use product management as a pathway to organizational growth.
1. Developing a Product Mindset
Individuals will develop a mindset that is necessary to bring viable products or services to the market, focusing on innovation and customer value.
2. Mapping Customer Journeys and User Personas
By utilizing customer journey mapping techniques, individuals can identify pain points and opportunities for product improvement, allowing them to enhance the overall user experience.
3. Analyzing Strategies and Frameworks
This course explores various strategies and frameworks for product development, marketing, and selling. Additionally, it also provides individuals with a comprehensive understanding of the different stages of the product lifecycle and the importance of market analysis in decision-making.
4. Evaluating Product Road Mapping and Prototyping Decisions
Through the application of product management techniques and practices, individuals are able to evaluate and prioritize product features, ensuring that the product roadmap and prototyping decisions are based on informed choices.
5. Outlining a Plan for Competitive Scalable Product
Individuals will outline a plan for developing a competitive and scalable product by identifying key product development strategies and frameworks. Moreover, this plan will align business goals, customer needs, and market trends.
6. Targeting Market Segments through Marketing and Communication
By identifying market segments based on demographics, behavior, and preferences, individuals can implement effective marketing and communication strategies targeting and engaging these groups, maximizing their product’s reach and impact.
How Can ISB’s Professional Certificate in Product Management Help You Develop a Product Strategy?
Here is how—
1. Understanding Product Strategy
This course provides a comprehensive understanding of product strategy fundamentals, including market analysis, customer insights, and competitive positioning, enabling individuals to develop a deep understanding of how to align product strategy with overall business goals and objectives.
2. Value Creation, Communication, and Delivery
Individuals will learn how to create customer value through their products and communicate their unique selling propositions effectively. They will also recognize the importance of delivering value throughout the entire product lifecycle, from ideation to launch and beyond.
3. Strategic Approach for Competitive Advantage in Product Strategy
By exploring different strategic approaches, individuals will gain insights into achieving a competitive advantage in the market. In addition, they will learn to identify and leverage their product’s unique strengths and differentiation points to distinguish themselves from competitors.
4. Disruptive Innovation for Successful Product Strategy
The course delves into disruptive innovation and its impact on product strategy. Moreover, individuals will learn to identify disruptive opportunities and develop strategies to capitalize on them, fostering business growth.
What are the Career Opportunities Available After Completing ISB’s Professional Certificate in Product Management?
After completing ISB’s Professional Certificate in Product Management, you will have access to various career opportunities across various industries and functions. Here are some of the top industries, functions, and companies where product management professionals are in high demand:
Top Industries for Product Management
- IT Services: Companies in the IT services industry require skilled product managers to develop and manage their software and technology products.
- Banking and Finance: Financial institutions seek product managers to drive the development and enhancement of their banking and financial products.
- Internet and E-commerce: Thanks to the growing digital landscape and faster internet speeds, e-commerce companies rely on product managers to launch and optimize their online platforms and services.
Top Functions of Product Management
- Technology Management: Product management professionals are sought after to lead technology-driven initiatives, oversee product development processes, and ensure successful product launches.
- Marketing: Product managers play a crucial role in developing marketing strategies, positioning products in the market, and driving customer engagement and acquisition.
- Sales: Product managers collaborate closely with sales teams to understand customer needs, develop product messaging, and support sales efforts.
Best Companies for Product Management
Here is a list of companies where past participants from Emeritus with a completion certificate in product management work- Accenture, HDFC Bank, ICICI Bank, JP Morgan, Mahindra, and Microsoft, to name a few.
Kickstart Your Career in Product With ISB
As one of the premium schools in India, ISB has one of the best product management programs in the country. Now, to learn from the best and start your career on a high note, explore ISB’s online program now.