Product management (re)defined
We are still missing a clear definition saying what product management really is: that's why I created one.
Why we need a new definition
Across the entire tech industry, there's a still a colossal confusion around product management, and that applies to everyone: engineers, designers, sales and marketing, including many founders, product leaders, and PMs themselves.
Companies tend to adopt "their own" definitions of product management, often shaping it into something it's not meant to be, or having no clarity at all about their product function. The result is a fragmentation in understanding what product product management actually is, that ultimately ends up hurting businesses and impacting PMs.
The scope of this article is to provide a correct, clear, and concise definition of what product management is. The challenge with that is bringing together simplicity and clarity: product management is a complex beast but, like everything else, if you cannot explain it simply and clearly, it means you don’t fully understand it.
Other definitions: while there are several definitions in use, I know I am not the only one who finds them to be either incomplete, complicated, or incorrect. Most focus on what PMs do, rather than what product management is, and almost all omit who actually makes product decisions and how. Even Marty Cagan's widely-adopted four risks definition, which I also used for years, is no longer sufficient for me, as I’ve explained in my article "Sorry Marty, I love you but I don't use your definitions of Product anymore".
Product management definition
While crafting a new definition, the goal was to meet all of the following criteria:
Brief: it does not contain bullet points, or a set a long list of stuff PMs need to do.
Complete: it comprises all key aspects of modern product management, including addressing the elephant in the room, on who actually needs to make the product decisions.
Clear and simple: despite the tons of complexity hidden behind it, this definition must be self-explanatory and it needs to feel simple to read.
Actionable: as a result of all the points above, it can have actionable implications that make a difference when adopted.
Let’s get to it:
Product management is the company function accountable for product decisions, ensuring they result from team collaboration, fulfill customer needs, and achieve business objectives.
This definition consists of four key points, as shown in the picture above:
What it is: product management is a company function, or a business function.
Why it exists: product management exists to make the best possible decisions on products and services.
How it operates: product management collaborates across all other company functions and teams.
What are its goals: the two interlaced goals of product management are to address customer needs, or problems, and at the same time to achieve business objectives.
An open definition
During my 2O+ years in product, I’ve been adopting, discussing, and iterating on this definition with many product folks. My teams to start with, dozens of product leaders and founders I worked with, peers from other companies, my master students, and executives I’ve been teaching to at business schools.
But I know that's not enough, this is why I like to think of it as "open":
Open to feedback: you can connect with me on LinkedIn at any time and drop me a message with your thoughts, or discuss it in this post.
Open to change over time: clearly defining something is always challenging, especially for complex matters like product management. I have iterated on this definition several times, and I am sure we'll go back to update it again in the future.
Open to be tested: this definition is designed to be put into practice. It provides a clear framework that companies can adopt to establish a strong product management function. If you do that, let me know what outcomes you get and we can incorporate them in here.
If you like it, you can adopt this product management definition by clicking on the button below. The more we are, the more clarity and consistency we will bring to the tech industry!
In my next articles, I will extensively write about the implications of a strong product definition and how I’ve applied it as a foundation in several product organizations.
Hi, this is Paolo! I’m a product leader and advisor, helping companies establish and scale product management the right way. I also love teaching product to Master’s at the University of Economics in Prague, and to executives at biz schools like Berkeley-Haas and INSEAD.