Product managers are responsible for managing the lifecycle of a product. They research and develop new products in addition to managing existing ones through market research and strategic planning. Product managers perform marketing and planning activities to increase profits.

Tasks

Tasks include -
(a) Planning, directing and coordinating research and development activities, in-house or commissioned from external research organizations, to develop new or improved technical processes, products, knowledge, or utilization of materials;
(b) Planning the overall research and development programme of an enterprise or organization, specifying goals and budgetary requirements;
(c) Leading and managing the activities of research and development staff;
(d) Establishing and managing budgets, controlling expenditure and ensuring the efficient use of resources;
(e) Establishing and directing operational and administrative procedures;
(f) Planning and directing daily operations;
(g) Overseeing the selection, training and performance of staff;
(h) Representing the enterprise or organization at conventions, seminars and conferences.