Business development/product manager skills for your resume and career

Product development is the complete procedure of creating a product from concept until release of the final product. Product development has many stages after which a product is released into the market. Identifying the need, creating the opportunity, conceptualizing a product, and providing a solution, all are different stages of product development.

Product management is a part of an organization's function that deals with product development, planning, pricing, forecasting, launching, and marketing the product.

The process of strengthening the relationship between a company and client is called account management. Effective account management has two key objectives, one is to retain loyal customers and the second one is to help the company grow by creating connections with new customers.

R is a free software environment and a language used by programmers for statistical computing. The R programming language is famously used for data analysis by data scientists.

Product line is a collection of similar or related products that may be under a single brand manufactured by the same company. It may include different varieties of a specific product of a brand which comes in different categories. In other cases, the product line may differ in some characteristics despite being from the same manufacturer.

Market research is a collective effort to collect information related to a consumer's needs and wants. It is a systematic approach that involves recording and analysis of both qualitative and quantitative data. Market research helps a business to identify a target market correctly and identify the gaps in potential consumer's expectations.

Relationship management refers to a tool that connects an organization or industry to a supply chain. Usually, this management type will build coordination, confidence, and mutual trust among all its members, employees, and employers. It will create a good partnership, determine the potentials barriers and problems, assess the strength, and measure the chain's effectiveness

CRM stands for Customer relationship management and it is a complete process through which a business or organization monitors and administers its interactions with the customers. A process in which large amounts of data are collected through marketing via a company's website, polls, surveys, and other social media applications. The basic goal of CRM is to target the right audience for their product, and then fulfill their needs, to increase the sales and revenue of the company.

OEM stands for Original Equipment Manufacturer and is a term for a company that produces and markets the parts of equipment for another company after having received the go-ahead to do so. The company can also produce devices from the combination of parts from different companies while in partnership with these companies. This is common in the computer hardware industry and is popular in the automobile and computer industries.

A product portfolio is a collection of all services and products by an enterprise made available to customers and clients. It also features vital areas of the business operations and processes. The product portfolio is a detailed analysis of a company's risk management, leadership, growth, financial prospects, contributions, and income.