What is the role of a product manager and how to become one ?

A product manager's role involves overseeing all stages of a product's lifecycle, from conception to sale. They conduct market studies and monitor competitors to better understand consumer expectations and anticipate potential customer needs. The product manager is required to ensure that the product aligns with the company’s business objectives and customer expectations, delivering a successful product that meets market demands.

In this role, a product manager focuses on managing the product development process, collaborating with cross-functional teams to define and execute the product strategy. This includes defining the product vision, setting goals, and creating a roadmap that outlines the product's development stages and timeline.

The product manager applies the "four Ps" rule: product, price, promotion, and place. This professional collaborates with production and sales teams to create, develop, and improve a product. They also ensure its market positioning. Working closely with the marketing department, the product manager participates in implementing marketing and communication strategies to boost product sales (promotional actions, advertising campaigns).

A successful product manager possesses a deep understanding of the market and consumer behavior. They are responsible for managing the product backlog, prioritizing features based on customer feedback and strategic business goals.

A product manager's tasks can vary depending on the sector. Here are some of their missions:

• Market analysis of a product or product line before market launch,
• Defining the target audience,
• Studying manufacturing and distribution conditions (budget, quantity, deadlines, price),
• Acting as an interface between internal and external stakeholders (suppliers, production teams, advertisers, sales forces) involved in the creation and marketing of a product,
• Monitoring sales progress,
• Making recommendations based on sales and objectives.

The product manager role is dynamic and requires strong project management skills to guide the product through its lifecycle. They are involved in all phases of the design and development process, from initial concept to product release, ensuring that the product meets customer needs and business objectives.

In retail, the product manager does not supervise product creation but negotiates with suppliers for the purchase of products sold in their store. They maintain close communication with suppliers to ensure product availability and competitive pricing.

The product manager is also responsible for gathering and analyzing data to understand market trends, identifying new opportunities for product development and innovation. They work with the engineering team and product designers to develop product features that align with user needs and preferences.

A product manager must anticipate consumer needs based on their knowledge of customer habits. They should also stay updated on competitor activities and market trends. Other required skills include:

• Analytical skills: conducting market studies and competitive analysis;
• Commercial and managerial skills;
• Communication skills: managing advertising campaigns;
• Proficiency in English: communication with foreign suppliers or producers.

In addition to these skills, a product manager should have strong interpersonal skills and the ability to work collaboratively with cross-functional teams. They must be able to communicate the product vision and strategy effectively to stakeholders at all levels of the organization.

A product manager is also responsible for setting acceptance criteria and ensuring that the product meets quality standards. They use design thinking methodologies to develop innovative solutions and improve the user experience.

Effective management skills are essential for leading the product team and coordinating activities across different departments. The product manager is responsible for maintaining the product roadmap and ensuring that development timelines are met.

The Global BBA from emlyon business school is ideal for high-achieving high school graduates aspiring to innovative training that leads to a product manager position.

This program focuses on six key areas:

• Action
• Project realization
• Experimentation
• International immersion
• Creativity
• Innovation

These areas are designed to equip students with the necessary skills and experience to succeed in the competitive field of product management. Students learn to develop a strategic direction and make data-driven decisions to achieve business goals.

You can also become a product manager by doing a the Master in Management - Grande Ecole program offered by emlyon business school. It delivers a Master's degree, in 2 to 3 years. Accessible after a minimum Bachelor's degree, this program of excellence in management offers you a progressive, tailor-made specialization. Designed to develop your entrepreneurial spirit, this program offers you numerous opportunities for internships, practical experience, “DNA” courses and a vibrant student life in Lyon. With opportunities for double degrees, academic exchanges and a solid alumni network around the world, international immersion is an important part of the MiM program. This program will enable you to become enlightened, responsible managers in all business sectors.

The Master in Management - Grande Ecole (MiM) offered by emlyon business school awards a Master's degree over 2 to 3 years. Designed to foster entrepreneurial spirit, this program provides numerous internship opportunities, practical experiences, "DNA" courses, and a professionalizing associative life.

Students in the MiM program gain hands-on experience in project management, product development, and marketing. They learn to work in diverse teams, applying agile development methodologies to deliver innovative solutions.

With emlyon's MSc programs, specialization in specific industries such as luxury, sports, or hospitality is possible.

• The MSc in Sports, Entertainment & Lifestyle offers a multidisciplinary approach to leading change and standing out in the dynamic global sports industry. This immersive 18-month program emphasizes innovation, marketing, and strategic change, integrating technology and entertainment.

• For a brand manager position in luxury, the Matser of Science in Luxury Management & Marketing is an excellent choice. Collaborating with an international cohort, you will gain a global perspective and deep expertise in the luxury sector.

• In the hospitality sector, the MSc in International Hospitality Management provides keys to business creation, hotel management, brand design, and innovation management. In collaboration with emlyon business school and Institut Lyfe, you will benefit from the expertise of two global leaders in the sector.

• More generally, the Master of Science in International Marketing & Business Development is a program over 18 months to develop a dual expertise in marketing and business development. This program will enable you to work anywhere in the world thanks to a global mastery of marketing management and sales, which is essential for understanding customers and their needs, thus allowing the development of effective, customer-oriented strategies.

A junior product manager can earn between €27,000 and €40,000 gross annually, depending on the sector and location.

Experienced professionals can earn over €60,000 gross annually, depending on seniority, performance, experience, company size, sector, and location.

Career advancement for a product manager is plentiful. After several years of experience, this professional can become a marketing manager or marketing director. This role can also lead to becoming a brand manager or export area manager.

Product managers are responsible for managing complex projects and delivering products that meet customer expectations. With experience, they can advance to senior management roles, taking on more strategic responsibilities and leading larger teams.

The role of a technical product manager involves working closely with engineering teams to develop software products and solutions. They must have a strong understanding of technology and the ability to translate technical requirements into product features that deliver value to users.

A product manager's career can also lead to opportunities in customer support and product marketing, where they can leverage their expertise to improve user experience and drive customer engagement.

Founded in 1872 by the Lyon International Chamber of Commerce, emlyon business school is one of Europe's first private higher education institutions specializing in business and management. emlyon business school has over 9,050 students from 125 different countries in initial training. Nearly 6,900 participants are involved in continuing education programs. These participants are spread across four campuses: Lyon, Paris, Shanghai, and Mumbai. The programs are supported by a vast network of 200 national and international academic partners, spread across 130 different countries.

The School offers a wide range of programs designed to equip students with the skills and knowledge needed to succeed in today's competitive business environment. Students have the opportunity to engage in cross-functional projects, gaining practical experience and developing the soft skills required for leadership roles.

At emlyon, students learn to apply design sprint methodologies, focusing on creativity and innovation to develop solutions that meet the needs of today's fast-paced digital world. They are encouraged to explore new ideas, think strategically, and develop the hard skills necessary for success in the field of product management.

The school's emphasis on learning by doing ensures that students gain real-world experience and develop the confidence needed to excel in their chosen careers. With a strong focus on interdisciplinary learning, emlyon prepares students to tackle complex challenges and lead successful product teams.

In conclusion, emlyon business school offers a comprehensive education that prepares students for a successful career in product management. By providing students with the skills, knowledge, and experience needed to succeed, emlyon ensures that its graduates are well-equipped to navigate the complexities of today's business world and drive innovation in their chosen fields.