- Home
- Product Development Manager
Who is a Product Development Manager?
If you keep your eye on the profit, you’re going to skimp on the product. But if you focus on making really great products, then the profits will follow ~ Steve Jobs
If you think you have a good knowledge of the business world. If you think you can understand consumer needs and find an opportunity to create a potential product without dealing with the monotonous work then you can enter an organisation as a product development manager.
Working on the development of new products is an interesting field to work in and if it interests you then you can become a part of it. Product management is a key function that ensures the delivery of high-quality products. A career as a product development manager involves strategy, execution, and user understanding.
The Product Management varies as per organisation and assigned responsibilities. In some organisations, the strategy is planned by executives without involving the product development manager. He or she is directed about it. While in some other companies, there is a group of product development manager who executes daily strategy and research.
In larger organisations, the strategy-making is left to executives while the product development manager is responsible for execution, and user research. A career as a product development manager is often complicated as the decision-making responsibility varies as per the organisation.
The Product Development Manager has the three prime responsibilities strategy, execution, and user understanding. There are instances when the product development manager gives instructions for all three responsibilities.
There are also those instances when he or she has to take instructions for all three responsibilities to effectively perform product management. The product development manager is more like a facilitator who ensures the smooth delivery of the product. In this article, we will discuss in detail how to become a Product Development Manager in India, skills, and Product Development Manager eligibility.
Product Development Manager in a Nutshell
The role of a product development manager is to manage projects and tasks that involve product development. Individuals who opt for a career as product development managers look after the design and technical aspects of a product. The product development manager also has to work with other teams in order to generate ideas and figure out the design, production, and development strategy of a product.
The product development manager collaborates with the sales and marketing teams in order to make the product financially viable for the company or how he or she is going to promote the product so that it reaches the end-user.
Quick Facts for Product Development Manager
-
Industry
Technology
-
Average Salary in India
₹72500
-
Suitable for
Male, Female, Others
Individuals can take up a career as product development managers, it is not gender-specific. Men, women, and others can choose a career as product development managers. In India, a Product Development Manager enjoys equal opportunities and benefits because gender is insignificant in this career.
-
Any special needs
Yes
Everyone, including those with physical disabilities, is appropriate to opt for a career as a product development manager. A career as a product development manager is well suited to everyone, even those with special needs. He or she should have the desire to show the world that in all conditions he or she can accomplish his or her goals.
Table of Contents for Product Development Manager
What is the role of Product Development Manager?
The success of the product in the market depends on the product development manager’s efficiency and strategies. An individual who opts for a career as a product development manager is responsible for guiding the cross-functional team and improving his or her productivity both the aspects qualitatively and quantitatively.
A product development manager plays a great role in an organisation. He or she maintains discipline among executives working under his or her team. A product development manager makes the strategy, plans roadmap, and features definition for a product or product line.
A product development manager is considered responsible for the profits and losses. He or she is an expert professional who leads organisations with his or her abilities and effective decision-making.
A product development manager analyses the market and competitive conditions. He or she lays out a product vision that delivers customer demands. The product development manager collaborates between engineering, marketing, sales, and support teams. An individual who opts for a career as a product development manager ensures the successful launch of the product.
Defining goals
The product development manager roles and responsibilities include product vision, strategy, and roadmap to reach the goal. An individual who opts for a career as a product development manager should deal with a number of organisational goals such as designing a product plan that would be in alignment with the business strategy.
A product development manager also designs to maximise revenue, profit and customer experience, providing new products on time and within budget and gaining manufacturing quality levels.
Task management
A product development manager is responsible for setting priorities, gathering information, managing work responsibilities, and prioritising customer requirements. Management of tasks is the practice of monitoring a task throughout its development process. It requires the preparation, checking, tracking and reporting. Task management can help people achieve their goals.
Collaboration
The product development manager roles and responsibilities are to work closely with other teams as well such as the engineering team, marketing and sales team, and support team.
Collaboration is the process of more than two individuals or groups working together to achieve a project or an objective. Most collaboration involves leadership, but within a community, the form of leadership can be social.
Documentation
A product development manager often stays occupied with documentation. A product development manager requires getting all the essential information documented such as market needs, priorities, and justification. Documentation might contribute to enhancing potential share price by promoting an understanding of a company's operations and assessing its valuation.
Business development
A product development manager is responsible for developing new products and improvising them into existing products. Individuals who opt for a career as product development managers develop business ventures.
The development of business involves processes and workflows for designing and implementing possibilities for advancement between many companies and organisations. It is a subset of the industry, trade organisation and management domains.
Product pricing
A product development manager often contributes to the price set by providing information related to industry insights and recommendations. This role varies as per organisation. All organisations do not consider product development managers for product pricing.
Brand managers are designing goods that satisfy customer requirements. How much a company serves the needs of the customers defines how valuable a product is in the marketplace, and the price it would be willing and able to pay for. It is something for product managers to make a significant contribution to pricing decisions.
Types of a Product Development Manager
Here are types of product development managers with varying job titles. We have provided below the job description for a product development manager with job titles.
Project Manager: A product development manager is responsible for leading the whole project whether it is planning, execution, monitoring, controlling, and closing projects. A product development manager is considered accountable for the entire project such as project scope, project team, resources, and the success or failure of the project.
Business Developer: A business developer is responsible for finding ways to bring revenues to the company. A business developer finds opportunities in new markets, partners with other companies, sells products to existing markets and develops new products and services.
Operations Director: An operations director or director of operations is accountable for the growth and profits of the company. An operations director controls expenses manages staff and supervises the department.
What is the workplace/work environment of Product Development Manager like?
Individuals who opt for a career as product development managers are responsible for the production of products, managing product marketing, and responding to customer feedback. The product development managers are often employed in the private sector rather than in the government sector.
The pay a product development manager receives from his company is generally higher than the average national pay. There is tough competition for the position of product development manager. It sometimes becomes difficult to find a job. Product management requires higher creativity and working in a fast-paced work environment. A career as a product development manager involves working 40 hours a week including evenings and weekends.
Does Product Development Manager require travelling?
Likely
Yes, a career as a product development manager occasionally requires travelling to attend meetings.
Employment Shifts
Full Time
Individuals who opt for a career as product development managers involve working during the general shift (9 AM - 6 PM) however, in most cases, they end up working more than their designated shifts as product development is always an ongoing process so they end up working for more than 10 hours a day on most of the days.
Employment Nature
Permanent
Individuals who opt for a career as product development managers are involved in working permanently with the company as it is a confidential job. The details of the product should not be leaked in the market before its launch. A product development manager’s role requires a firm commitment to the organisation.
Work Place
Office
Most of the product development managers work out from their offices. In certain cases, where there is a deadline to be met, some of them even work from home in order to ensure that things are done on time.
Presence in Geographical Area
Urban
Almost all the product development managers are based in metro cities such as Gurugram, Mumbai, Bengaluru, Chennai, and Hyderabad. The reason is that there are more employment opportunities for them in these cities than at any other location. Also, the majority of the companies that deal with product development are located in these metro cities.
Time Pressure
Likely
A career as a product development manager involves facing time pressure issues. Time pressure is quite active for product development managers. Apart from performing their research and work, they are also required to supervise and verify the work done by their team members. Hence, product development managers work under a lot of time pressure.
Overtime Details
The allotted working hours for product development managers are typically 9 hours per day. But because of the responsibilities assigned to product development managers, they work overtime for half the time in a month.
Weekly Hours of Work
Min 50 Hours
A career as a product development manager involves working for about 50 hours a week. As product developers are involved in almost all the activities taking place in order to develop the product, most of the time they end up working for more than the regular nine hours a day.
How to become a Product Development Manager?
Steps to become a Product Development Manager
If you are someone who gets excited about the new products launched in the market and gets curious to know what all their features are and how it is made and you want to take up a similar career then a career as a Product Development Manager is the best option for you.
If you want to learn to develop new products from concepts to distribution and are looking for the details on how to become a Product Development Manager in India then below we have given the steps to achieve your dream career.
What are the skills and qualities required to become a/an Product Development Manager?
Are you searching for requirements to become a Product Development Manager? Well, there are several skill sets that you are required to possess. Below we have provided some of the Product Development Manager skills.
Strategic Mindset: Strategic thinking helps the business to identify how and where to make the most effective use of such resources and move the organisation towards the targets. Strategic analysis guides the management structure on its most likely regulated marketplace.
Strategic thinking is a system that determines the way people think about themselves and everyone, by evaluating, interpreting and constructing the future. Individuals who opt for a career as product development managers also specialise in corporate strategy and in developing a method of strategic planning.
Technical Skills: Technical abilities are the capabilities and expertise required to perform different tasks. They are realistic and frequently refer to technological, numerical, or observation and experiments in information technology. Some instances also provide software development language skills, mechanical components, or techniques.
Individuals who opt for a career as product development managers must have a good understanding of all the technical aspects required for effective production. product development managers who work for E-commerce must be familiarised with data thinking and use digital tools such as Google Analytics, Mixpanel, Tableau, Optimisely, and other related tools.
Collaboration: Collaboration is greatly beneficial for both the workers and the company, as they see and appreciate how others work, think, communicate and function as they work collectively, communicate and discuss their ideas. A product development manager highly relies on working with others to ensure the success of their team.
A product development manager must be able to effectively collaborate with other teams and their team. Successful product development managers possess leadership qualities and emotional intelligence to achieve a high-performing state.
Communication Skills: Communication in the workplace is essential to businesses as it helps organisations to be competitive and function efficiently. Employees will experience improved morale, efficiency and dedication if they can interact within an institution.
Individuals who opt for a career as product development managers work with internal and external team members through email, chats, meetings, and presentations. Effective communication skills ensure the sharing of information and the functioning of an organisation.
Attention to Detail: Paying attention to every detail can interpret your ability to analyse and solve problems, especially small problems. So even random mistakes in any work environment can have serious implications, and failures are awful. Attention to detail depends on the ability to accurately assign cognitive efforts in achieving assignments of diligence and efficiency.
Attention to detail able to continue improving productivity, effectiveness and achievement. Detail orientation is an important aspect of product management. It helps in improvisation by finding missing details and fixing issues. It ensures the outcome as well as output orientation.
Empathy: Empathy could really illustrate profound admiration for fellow employees in the place of work, as well as show that you care, as compared to going through rules and procedures. An empathetic approach to leadership will enable everybody to feel like a family and enhance profitability, confidence and of course loyalty.
A product development manager must ensure that the product is user-friendly and it solves the problem of users. The product development manager and team need to understand the users to build a product that solves the user’s problems.
Which certifications and internships can be helpful in becoming Product Development Manager?
We have provided below several certifications that may help you to upgrade your skills for a career as a product development Manager.
Master's Certification in Complete Passenger Car Design & Product Development
Mobile Interaction Design: How to Design Usable Mobile Products and Services
Internship Availability
Internships in product development are quite prominent and important as they guide you towards your career and help you understand the career. Internships are the first step on your way to how to become a product development manager. Product management internships can easily be found on various recruitment websites.
The most popular ones are Indeed.com, monster.com, Internshala, LinkedIn, and Glassdoor. The candidates can also directly apply through the company's official websites. The roles assigned to candidates vary as per their field and organisation.
The interns are often assigned to conduct primary and secondary research to understand the market and target audience of the product. The interns are assigned to do documentation with wireframes, clear use cases, and test cases. Interns work closely with tech teams that enhance their learning and skills.
Career Path Progression for Product Development Manager
One might progress up to numerous job titles while progressing in a career as a product development manager. We have mentioned below the product developer job description with varying titles as per the progression in the industry.
Senior Product Development Manager: A senior product development manager is an experienced professional in the market. He or she understands the need for a market and comes up with innovative solutions in the form of a product.
Director of Product: The director of the product is responsible for supervising the functions of the junior product development manager, product development manager, senior product development manager, and head of product management. The director communicates the development of the production process and progress to stakeholders.
Chief Product Officer: A chief product officer leads the entire organisation. A chief product officer is responsible for the strategic product direction such as product innovation, product vision, product design and development, and other related aspects.
Product Development Manager Jobs and Salaries
Chief Product Officer
Permanent
- Average Salary 45000
- Junior Level Salary 35000
- Senior Level Salary 200000
Job Description
The Chief Product Officer is an organizational director, strategist, and spokesperson of a company' s product. The Chief Product Officer's main purpose is to guide and promote the development of products that provide the importance to consumers and as well as the industry.
Salary Description
The position of Chief Product Officer with an average salary may be as high as five to six a year. With experience and expertise, the Chief Product Officer will receive an average salary more than Rs twenty-four lakhs a year. In this career the pay is based on the industry in which they work.
Senior Product Development Manager
- Average Salary 100000
Job Description
Senior Manager Product Development job description includes developing products, preparing budgets and allocating tasks and resources. He or she takes feedback from clients, engineers and designers on products.
Salary Description
The Senior Manager Product Development salary in India ranges between Rs 10.0 Lakhs to Rs 51.0 Lakhs with an average annual salary of Rs 22.4 Lakhs.
What is the job outlook for Product Development Manager?
Individuals who opt for a career as product development managers are the most sought-after candidates. Product management plays a crucial role in the success of a product in the market. product development managers reach across teams to plan, design, execute, launch, and deliver products successfully in the market.
The product development managers are required to lead developers and engineers. They collaborate with other teams to reach their goals. The product development manager is a leadership role that requires business acumen, knowledge of UX design, and product design. Product development managers are crucial for both startups and giant organisations.
There is an expected job growth of 9 per cent in the profession of product development manager. Individuals who opt for a career as product development managers are known as product CEOs. There are constant job openings for product development managers. product development managers are the most sought-after candidates.
There is a 56 per cent product development manager holding a bachelor's degree, 26 per cent holding a master's degree. While only 11 per cent of product development managers hold a professional degree. The work responsibility of product development managers revolves around his or her abilities and knowledge of communication, marketing, advertising, statics, and economics.
Abundant career advancements are the biggest opportunity for a product development manager. Their role as product development manager is considered for career advancements. The famous CEOs are once product development managers.
Frequently Asked Questions for Product Development Manager
Que. What is the average salary of an IT product development manager?
Ans.The average salary of a product development manager is Rs.16,44,876 per annum, in India.
Que. What are the education requirements for a product development manager?
Ans.There is no specific education requirement for the product development manager’s role. Candidates possessing a bachelor's degree in the related fields are preferred. Several recruiters consider an MBA (Master of Business Administration) for the role.
Que. What are the advanced roles of a product development manager?
Ans.The career progression hierarchy of a product development manager is Senior product development manager- Director of Product - VP (Vice President) of Product- Chief Product Officer
Que. How many years of experience is required to become a product development manager?
Ans.It requires a minimum of five years of experience in the industry to become a product development manager.
Que. What are the top institutes to pursue MBA from India?
Ans.The top Product Development Manager Colleges are Great Lakes Institute of Management, Chennai, Faculty of Management Studies, University of Delhi, Delhi, IBS Business School, Hyderabad, Jamnalal Bajaj Institute of Management Studies, Mumbai, and Institute of Management Technology, Ghaziabad.
Que. What do you need to be a product development manager?
Ans.To become a Product Development Manager, you are required to pursue a degree in Mechanical engineering, Product Design, Industrial Engineering, and Industrial Design, and pursue an internship to gain practical experience.
Then opt for an entry-level position. After a few years of experience apply for the product development manager role.
You might also be interested in
Select your reason of reporting
Explore Related Careers
Did you know?
Fact 1
Product development managers' work abilities make companies earn 34 percent extra revenue.
Fact 2
It is found that around less than 30 percent of executives consider product development managers valuable in an organisation.
