Product managers need to be able to determine whether an idea makes sense from a financial perspective and aligns with overall company strategy. “If we don’t understand customer needs, we can’t build good products that address them.”Īnother major competency area is analyzing opportunities. “The most important skill is the ability and willingness to understand customer needs,” says Jeff. What skills does a good product manager need? 50) of potential worldwide customers within the market segment that the product serves. Although some can be sold to any business, in other cases there may be a low number (e.g. This also means the places where you get input and ideas for future products and enhancements vary and depend on the broad group of stakeholders involved.”įinally, many - though certainly not all - B2B products have a much more limited audience than mass-market B2C products. “For example, we know through our research into how B2B buyers behave that industry analysts can have a strong influence in the buying process, so getting analyst coverage or appearing in certain niche trade publications may be extremely important. “The ecosystem of internal and external stakeholders in B2B is also different,” Jeff says. Consumer products, in contrast, might be sold through retailers or distributors or e-commerce, but the products remain essentially the same. Working with channel partners raises additional considerations related to elements such as integration, pricing and packaging, and ongoing support. ![]() ![]() Many B2B products also have multiple potential sales channels, which affects how the products need to be designed and managed. A “great” product that is difficult for sellers to understand or for which there aren’t the appropriate sales incentives may fail in the market. In addition, B2B sales organizations often play a much more important role in new product innovation and product lifecycle management. Therefore, in B2B product management, you need to understand the differences between your buyers and users and see how they might work together.” “In B2B, the buyers are not always the users you have people buying products on behalf of other people. “B2B product management is generally pretty similar to B2C product management, but there are some key differences,” Jeff explains. What does a B2B product management team do? How does B2B product management differ from B2C product management?
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