Product Manager Job Description—Skills, Responsibilities, and More

A product manager has a key role in a product’s journey from conception to fruition. This process involves researching market trends and product features, defining goals, and managing the product development process from the prototype phase to launch. In this role, you liaise between product development teams, stakeholders, and customers to manage the product lifecycle while creating a product that brings value.

Explore what a product manager does, including duties and responsibilities, and how this role varies across different job descriptions and industries. 

Core responsibilities of a product manager

As a product manager, you’ll have a range of duties and responsibilities that vary according to the type of product you’re working on and the industry you're in. However, most product managers have a core set of responsibilities that include:

• Conducting market research to understand consumer preferences and buying behavior

• Defining product features

• Managing the product lifecycle from idea to delivery

• Managing a team of product developers

• Creating timelines and work schedules for each phase of the product lifecycle

• Creating and managing budgets

• Supporting marketing strategies and product launches

• Working on pricing strategies

• Building relationships with distributors, customers, and stakeholders

Essential skills for product managers

As a product manager, you need a range of technical and workplace skills. This will bolster your ability to work in a design-focused environment while developing the personal qualities to work well with a team and wider stakeholders. Essential skills for a product manager role include:

Technical skills:

• Product development

• Marketing strategies

• Project management

• Data analysis

• Microsoft Excel

• A/B testing

• Conversion rate optimization 

• Agile methodologies 

• Storytelling

• Road mapping

Workplace skills: 

• Leadership

• Problem-solving

• Collaboration

• Interpersonal skills

• Communication

• Research

Qualifications and experience requirements

Product management requires a good academic background, experience in product design, and leadership experience. The most common route is to start with a bachelor’s degree; however, you can also enter this profession with more hands-on learning, such as a boot camp or certification. 

Education and training

To become a product manager starts with obtaining a bachelor’s degree in a relevant major such as marketing, business, engineering, or product design. Some employers may ask for a master’s degree, such as an MBA, in addition to a bachelor’s degree. 

However, this isn’t the only route; if you prefer a more hands-on approach, you might look into a boot camp, which may also come with a certificate. A boot camp is shorter than a degree course and offers industry-related projects based on real-life experience.

Experience

As well as education, experience is also important in this field for building technical skills, and leadership abilities. To work as a product manager, you’ll likely need two to four years of experience to gain a position of this level. Employers are looking at industry experience for the field you’re applying in, plus management and leadership skills.

You can start gaining experience with an internship while studying or applying for an entry-level position in a related field. If you are already in an entry-level position, see if you can find a management professional to shadow and learn from or complete some personal projects through Hackathons and competitions. 

Types of product managers

You’ll find product management jobs in a range of industries. Anywhere that makes a product will have a product management process. This allows you to find a product management role in an industry and a position that suits your background, skills, and interests. For example, if you have a strong technical background, you may choose to develop technical products. If you have experience working in health care, medical products might be your forte. 

Discover examples of specific product management positions.

1. Technical product manager

Average annual salary (US): $140,393 [1]

Requirements: A bachelor’s or master’s degree in a technical major like computer science, engineering, or software development. 

A technical product manager is a product manager but in a technical field. In this role, you are responsible for the lifecycle of a technical product. Your responsibilities correspond to those of any product manager role. However, you will likely have expert technical knowledge and work on areas of the product that need your technical input. 

2. Product lead

Average annual salary (US): $148,170 [2]

Requirements: A bachelor’s degree in a relevant major, such as design or marketing.

As a product lead, you are responsible for creating and marketing a product as part of a wider product marketing team. You may have specific skills in technology or engineering and generally report to the product manager. Some responsibilities include defining the product vision, analyzing market trends, and managing cross-functional teams.

3. Product owner

Average annual salary (US): $110,614 [3]

Requirements: Training or certification in Scrum methodologies. You may need a bachelor’s degree in a relevant major, such as business, computer science, or information technology.

As a product owner, you are responsible for the outcome of a specific product. This means you want to enhance product value by working with stakeholders to ensure your product meets users’ requirements. 

4. Growth product managers

Average annual salary (US): $150,457 [4]

Requirements: A bachelor's degree in business, marketing, management, or similar. Additionally, some employers may appreciate more of a focus on previous experience.

As a growth product manager, your role comprises product development, marketing, and business analysis. You'll look for ways to grow the business and increase revenue. This might be through customer acquisition and retention, growth initiatives, or expanding a product line.

Example product manager job description

Product management roles vary depending on the industry you work in and the products you're working on. This sample job description illustrates common responsibilities and requirements that you could adapt to any field:

The product manager is responsible for leading a product team and focusing on the lifecycle of all products, from creation to development to marketing and delivery. You will set goals and KPIs, consider budget and resources, and use your industry experience and knowledge of the market. 

Requirements:

• A bachelor’s degree or equivalent in business, marketing, or similar.

• 2-3 years of industry experience.

• Experience in managing and leading teams.

• Knowledge of Agile and Scrum methodologies.

• Excellent problem-solving abilities and the ability to work to targets and deadlines.

• Excellent collaboration and stakeholder management skills.

Career path and growth opportunities

Product management offers many possibilities at different levels. Since a product manager is an advanced position requiring management experience, you can begin your career in an entry-level role within your preferred industry to build the necessary skills. As well as taking on management responsibilities in an industry-related role, you might consider applying for an associate product manager position. This role is a step before becoming a product manager and involves reporting to one.

Once you’ve been working as a product manager, you’ll find opportunities for progression into more senior roles up to the executive level. Examples of roles and salaries include:

• Lead product manager: $149,609 [5]

• Senior product manager: $154,437 [6]

• Director of products: $185,572 [7] 

• Vice president of product management: $158,026 [8]

• Chief product officer: $213,348 [9]

Next steps in product management with Coursera

Product management incorporates the design, development, and distribution of a product. You’ll find variations to this role depending on your industry. To discover more about project management, consider taking an online course such as the IBM Product Manager Professional Certificate, available on Coursera. Upon completion, gain a shareable Professional Certificate to include in your resume, CV, or LinkedIn profile.