Online product manager skills for your resume and career

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

Customer feedback is the information, insight provided by a customer orally, in writing, or online form about their experiences with a company's product or services. Customer feedback is aimed to convey certain facts that the customers face when using the manufacturer's products, and in turn help the product, customer, and marketing teams understand where there is room for improvement. It may be positive, negative, or neutral, but it is very important for the growth of a business.

A product backlog is a type of list wherein the primary purpose is to prioritize goods and services for an industry or company to create and perform strategic development plans. Typically, the highest priority is listed on the top, while the least importance is located at the document's bottom. The team designated for the particular activity needs to ensure that all the products arrive at the receiver to prevent backlogs or delay for the project's release.

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.

Business cases are documents, verbal agreements, or presentations that explain the purpose of creating a task or project. The idea is to see that whenever any resource such as money or effort is spent, immense value or satisfaction is derived. A typical example is a software upgrade whose business case captures the results of streamlined performance, better value for money, improved customer experience, and time optimization among other benefits.

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.

Product lifecycle is an important concept in marketing that describes the process, phases, and stages that a product goes through from its initial stage to its end, or is withdrawn from the market and is no longer sold.