Update on 15 Dec, 2022
5 min read
Product Management is an unconventional career choice made by very few students and working professionals. If you are someone who is creative, passionate, and really interested in product marketing and branding, trust us this course has a lot to offer you.
The best product management Training can help you to boost your career and help you to get promoted to a managerial position sooner.
It refers to managing a product or service, so it can perform well in the market. The product management process remains in motion during the entire cycle of a product.
These are the stages involved in the product management process:
In simple words, Product Management is the process that starts when someone decides to come up with a new product and launch it in the market and the process continues till the very existence of the product in the market.
Managing a product needs critical and creative thinking and absolute marketing skills.
It involves various stages such as Research, Market Analysis, Product marketing strategy, product launching, and Recording feedback and reviews from the customers and users. And finally, analyzes the life cycle of the product in order to create a promotion strategy according to its demand and popularity.
Product Management is a rather complex process that requires core knowledge of the product, marketing, and financial modeling. And becoming a Product Manager is a role of responsibility.
The product manager's key role is to ensure that the corporate strategies align well with the current and emerging market needs. However, this is just an understatement to describe the roles and responsibilities of product managers.
Here are the much-elaborated explanations about the job of a product manager:
There is some eligibility requirement that must be fulfilled by an individual in order to bag the role of product manager. To become a product manager, an individual needs multiple skills and along with these skills, one must be academically and professionally qualified.
The following are the requirements that need to be fulfilled to become a Product Manager:
A Bachelor's or Master’s degree in a relevant discipline: Product Managers are required to hold a bachelor's or master's degree preferably in Business Administration or Product Management. An MBA or PGDM will do just fine if you wish to become a Product Manager. However, there are many certifications in product management training, you can also enroll in one of those and become a certified product manager.
Specialized Training: This requirement is mostly put forward by large-scale companies large scale employers want their employees to get some sort of training. The training may be provided by the company itself or it may ask for a hands-on experience certificate to ensure that you are well trained in your forte.
For an instance many employers (especially in the IT sector) require their product managers to have a technical and data-driven background, additional skills required in the IT sector are coding and customer support.
So, in order to bag a product management job in an IT company, one must be trained in the above-mentioned fields.
Adequate Experience: The product managers have usually experienced professionals who worked in the marketing or operations department for years and grew through different job roles.
It is a high-level management position that requires atleast 5 to 10 years of experience. However there are also entry-level product management jobs such as Associate product managers, you can get a job of associate product manager job without having years of experience.
Meanwhile, most companies prefer to hire experienced professionals for such managerial positions.
Product Management imparts knowledge of different business-related concepts such as developing, managing and promoting a product. Best product management certification mainly focuses on learning how to manage products within organizations, develop designs, and determine the cost of the product.
|Name of the Colleges||Course Fees|
|Amity University, Noida||Rs 6.60 L.P.A|
|Narsee Monjee Institute of Management Studies, Hyderabad||Rs 7.56 L.P.A|
|ICFAI Business School, Hyderabad||Rs 7.10 L.P.A|
|Jindal Global Business School, Sonepat||Rs 12 L.P.A|
|Reva University, Karnataka||Rs 3.0 L.P.A|
|Christ University, Bangalore||Rs 5.40 L.P.A|
|Shri Ram Murti Smarak International Business School, Uttar Pradesh||Rs 1.47 L.P.A|
|Name of the Colleges||Course Fees|
|Institute of Product Leadership Executive (MBA Product Management)||Rs 6.45 L.P.A|
|University of Technology Jaipur (MBA Product Management)||Rs 1.80 L.P.A|
|Xavier Labour Relations Institute (XLRI), Jamshedpur (PGDM)||Rs 4 L.P.A|
|Jaipur National University, Jaipur (MBA)||Rs 1.10 L.P.A|
|St. George College of Management, Science & Nursing, Bangalore (MBA)||Rs 3.60 L.P.A|
|Community Institute of Management Studies, Bangalore (MBA/PGPM)||Rs 4.50 L.P.A|
|Sesharipuram Institute of Management Studies, Bangalore (MBA)||Rs 2.50 L.P.A|
|National Institute of Industrial Engineering (NITIE), Mumbai (PGPM)||-|
|SRM Institute of Science & Technology (MBA)||-|
There are many product management certification courses offered by institutions in India as well as abroad. Candidates who wish to pursue a short-term certification course to learn the fundamentals of Product management can opt for a 6-month product management certificate program offered by the Top B-Schools in India.
Below we have mentioned some of the best Certification in Product Management offered by the most reputed colleges in India along with their fee structure:
|Product Management Certification Course||Offered By||Fees|
|Executive Development Programme in Advanced Product Management||XLRI Jamshedpur||Rs 1,62,500|
|Executive Program in Data-Driven Product Management||IIM Lucknow||Rs 1,89,000|
|Post Graduate Certificate Program in Product Management||IIM Indore||Rs 2,65,000|
|Certificate Program in Product Management||IIT Bombay||Rs 1,14,000|
|Product Strategy||IIM Kozhikode||Rs 1,16,000|
|Executive Development Programme in Managing Products & Branding||IIM Kashipur||Rs 60,000|
|Product & Brand Management||MDI Murshidabad||Rs 60,000|
|Certificate Programme in Product Strategy for Business Success||IIM Rohtak||Rs 60,000|
|Product Management||IIM Kozhikode||Rs 71,750|
Below we have mentioned some of the best free product management courses available on the internet:
|Course Name||Offered By||Duration|
|Real-World Product Management||Coursera (Advancing Women in Product) sponsored by Amazon web services||17 weeks|
|Digital Product Management||Coursera (University of Virginia)||5 months|
|Product Design||Udacity (by Google)||4 months|
|Software Product Management||Coursera (University of Alberta)||2 weeks|
|Product Management Fundamentals||EdX (University of Maryland)||4 weeks|
|Brand and Product Management||Coursera (i.e Business School)||15 hours|
|Achieving Product-Market Fit||EdX (University of Maryland)||4 weeks|
|Becoming a Product Manager||LinkedIn Learning||11 hours|
|Introduction to Software Product Management||Coursera (University of Alberta)||Varies|
|Product Masterclass: How to Build your Product Career||By Product School||Varies|
|Strategic Social Media Marketing||EdX (Boston University)||6 weeks|
|Becoming A More Strategic Product Manager||Via Highbrow||10 days|
|Product Management Certification Program||UpGrad (Duke Corporate Education)||Rs 16,889|
|Becoming a Product Manager||Rs 1,599|
|Become a Product Manager||Udemy||Rs 450|
|Engineering Project Management: Mastering Project Complexity||edX (TUDelft)||Rs 19,979|
|Product Management: Building a Product Strategy||Rs 899.99|
|Results-Based Project Management||edX (BID)||Rs 6,637|
|The Complete Product Management Course||Udemy||Rs 490|
|Course Name||Average Annual Fees|
|Narsee Monjee Institute of Management Studies, Mumbai||Rs 3,02,000|
|Narsee Monjee Institute of Management Studies, Hyderabad||Rs 2,52,000|
|ICFAI Business School, Hyderabad||Rs 2,60,000|
|Christ University, Bangalore||Rs 1,66,000|
|JK Business School, Gurgaon||Rs 93,000|
|Jindal Global Business School, Sonepat||Rs 4,50,000|
|Lovely Professional University, Jalandhar||Rs 1,12,000|
|OP Jindal Global University, Haryana||Rs 4,50,000|
|Shri Ram Murti Smarak International Business School, Uttar Pradesh||Rs 25,550|
|Reva University, Karnataka||Rs 1,00,000|
Product Managers are not only marketing experts but they are also proficient in working with the latest technologies and platforms. The scope of product management is vast considering the fact that companies need to expand and adapt to the new age technologies with time.
And increasing integration and emerging technologies in every area of business operations, and product management is something every small and big-scale companies need.
Once you complete a course specializing in product management, an individual can find ample career opportunities in the job market. Most of the product management exists in the private sector but they are no less than a reliable government job.
These jobs will pay you well and provide job security also. A product management enthusiast can bag the role of an associate product manager in big-scale companies such as Flipkart, Amazon, ICICI, Wipro, IBM, Dell Technologies, and many others and get promoted to various roles based on their performances.
Pursuing a career in product management is a good choice for individuals who acquire prerequisite skill sets as we have already discussed in this article.
A career in product management can be rewarding to individuals who have creative insight, emotional intelligence, analytical skills, and leadership skills.
Well, The good news is that the demand for product managers has increased significantly in the past few years. And if you see yourself fit for product management jobs, then it's better to make yourself available in the job market as soon as possible.
You will enjoy your career as a product manager if you are interested in strategy building, designing, leadership roles, and more. After completing your studies, you may start your career as an associate product manager and grow through different roles in this field.
To understand the career path of a product manager, let's take a look at the career hierarchy of Project managers:
➥ Associate Product Manager: It is an entry-level job position in the product management field. Large-scale organizations with big product development and management teams hire young professionals for this job position.
They are responsible for assisting product managers with their duties, conducting market research, segregating the required data, and gathering all other product requirements.
➥ Product Manager: It is the next job position that comes in the hierarchy of the product management field. To reach this level, the individual must have atleast 3 or more years of experience, however, the experience required depends on the organization they are working in.
The major role of Product managers is identifying the customer needs, developing the product vision and roadmap, and operating with the product team and other cross-functional teams.
The product managers are the ones who contribute highly to the life-cycle of the product.
➥ Senior Product Manager: As the name suggests, it is a senior-level job position. Senior Product managers work closely with the product leaders and are responsible to execute the strategy.
They are more concerned about achieving long-term goals and looking after the broader objective of product management. Basically, a senior product manager is the one who leads the entire product team and makes the major decisions.
➥ Director of Product: Developing and driving the identity of the product roadmap is the key role of the director of the product. He/She is responsible to represent the salesforce as a domain and product expert in customer interactions.
An individual can make quite a living by pursuing a career in product management. Product manager jobs are lucrative however the career path is full of challenges and needs absolute knowledge and professionalism.
Speaking of the product manager's salary.
The entry-level salary of a product manager is around Rs 5.80 L.P.A, the mid-level salary falls from around Rs 8.10 L.P.A to Rs 10.20 L.P.A and after gaining an experience of more than 5 years one can earn atleast Rs 17 L.P.A.
The salary of product managers varies according to their job position, experience, and employer.
Below we have mentioned the average annual salaries of product managers according to their job positions, have a look:
|Job Position||Average Salary|
|Associate Product Manager||Rs 12 L.P.A|
|Product Manager||Rs 19 L.P.A|
|Senior Product Manager||Rs 28 L.P.A|
|Director of Product||Rs 51.44 L.P.A|
|Name of the Company||Average Salary (Annual)|
|Flipkart||Rs 25.92 L.P.A|
|Amazon||Rs 28.62 L.P.A|
|Ola||Rs 28.14 L.P.A|
|SAP||Rs 27.32 L.P.A|
|Oracle||Rs 20.63 L.P.A|
|Dell Technologies||Rs 22.71 L.P.A|
|Cisco Systems||Rs 25.92 L.P.A|
|BYJU's||Rs 16 L.P.A|
|Nokia||Rs 32.56 L.P.A|
|IBM||Rs 22.69 L.P.A|
|Wipro||Rs 17.52 L.P.A|
|Walmart Global Tech||Rs 32.33 L.P.A|
|Paytm||Rs 20.73 L.P.A|
|Microsoft||Rs 30.06 L.P.A|
|Tata Consultancy Services||Rs 13.19 L.P.A|
|Rs 25.64 L.P.A|
|Publicis Sapient||Rs 20.76 L.P.A|
|InMobi||Rs 29.88 L.P.A|
Copyright @2021.www.collegedisha.com. All rights reserved