Usually, product marketing and product management go hand-in-hand in organisations. While both may seem very close, they have many differences. A lot of people get confused when choosing either as a career prospect.
This article will help you bifurcate both and make an informed decision. You will be able to answer questions like:
- What is product management?
- What does product marketing mean?
- What is the difference between product management and product marketing?
What is Product Management?
Product management in an organisation carries the essential function of overviewing the overall success of products. Product managers oversee an end-to-end relationship with customers’ problems and ensure the right solution is delivered within the specified time.
The product management team handles the process of designing, representing and, delivering products from beginning to completion.
What is Product Marketing?
The product marketing team looks after specifying, creating, and communicating a product’s status, its value in the market, and related marketing strategy. Product marketers often work with the production unit to understand product functioning, its scope, and the target audience. They are even responsible for product launches.
Product Management vs Product Marketing: Similarities and Differences
Let us understand the prime similarities and differences between them.
Differences between Product Management and Product Marketing
|Product managers (PMs) are the shepherd leading the success of a product. They look after the development, design, and workflow of the entire product.
|Product marketing management (PMM) looks after understanding consumers’ requirements and building products to fulfil those needs. They primarily focus on the consumer.
|Product managers work actively on buyer feedback and convert the feedback into engineer-friendly instructions.
They need a solid technical background to understand the product, and its workflows, and coordinate with engineering teams to build it.
The product management team deliver technical aspect and updates regarding a product to the marketing team.
|Product marketing professionals are responsible for conveying product growth and its position in the market.
Once the product team develops the product, the marketing team leads the product to reach target audiences, applying different marketing strategies.
The marketing team update the marketing, sales, products, and support team regarding the performance of the products.
|The product management team work closely with the product development and marketing team.
|The product marketing team work closely with the sales and product management team.
|In product management, the key performance indicator includes product usage, consumer satisfaction, and momentum in the market with the latest release of products.
|In product marketing, the key performance indicator includes the growth and retention of products in the market.
|As product developers, product managers possess strong engineering, administrative, and operational qualities.
|As product connectors, product marketers possess product growth and marketing qualities. However, both product managers and product marketers possess a combination of creative and influencing qualities.
Similarities Between Product Management and Product Marketing
Irrespective of the difference in their roles, there are similarities between both product marketers and product managers. They include:
- Both function for customer satisfaction. They have a similar goal to create profitable products that would solve consumer issues and fulfil company objectives.
- Both product managers and product marketers need to have deep knowledge of the different products offered by their organisation. This is essential to modify the features and understand and solve the problems.
- Product managers and product marketers both play a significant role in product discovery by analysing the market and creating insight strategies.
Product Management or Product Marketing: Which one to go for?
Commonly in organisations, product management and marketing teams work closely with one another, for a smooth transition of a product from its early development stage to successful consumer adoption.
If your interest lies in the technical aspect of the product and its management, product management can be a better choice. And if your skills and interest lean towards selling or marketing, product marketing is more appropriate for you.
You can speak with your peers or colleagues or take a course to get an in-depth understanding of product management and then decide.
There are in-person or online product management courses that will help you understand the concept of product design, market structure analysis, solution design, brand positioning and management.
Emeritus India offers a range of product management courses in partnership with prestigious institutes like IIM, ISB and IIT. The courses are designed to help you emerge as a powerhouse guiding bottom-up transformation within your organisation.
Depending on your educational background and work experience, you can choose an appropriate course for yourself. You can even look through the detailed curriculum to gauge a better idea about the concepts and skills you’ll get to learn during the course.
Once you’re confident about your choice, you need to fill out the application form. If shortlisted, you’ll be informed about it in a few days. You can just pay a percentage of your booking amount to reserve your seat, and opt for a flexible payment option for the balance amount.