Product Management Fundamentals This week, you will review the product management and development process and attributes for successful marketing deci

Product Management Fundamentals
This week, you will review the product management and development process and attributes for successful marketing decisions and strategic planning. While you will learn the basic components and construction of a product management and development activity, you will, more importantly, glean an understanding of new methods and mindsets involved in 21st-century product management. Explore the following information to learn more about the steps in this process:
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Influences include the need for more precise business case assessment. Such assessments should consider market needs, product descriptions, roadmap, and market strategy materials. Product management sits atop the overall corporate strategy and decision making amidst incoming disruptive technologies, personalized product strategies, value-based pricing, artificial intelligence-driven distribution, and the ever-increasing new personalized business-to-individual consumer.
Product managers generally have a comfort zone, with roles such as a Customer-Focused Product Manager, engineering-focused Product Manager, design-focused Product Manager, and Business-Focused Product Manager. However, successful product managers must assess their strengths and weaknesses in these various perspectives. The use of mental models is a wonderful way to simplify the complex and will further improve decision-making for product managers.
Over the past couple of decades, the mandate for product management scholars and marketers alike was to become thought leaders in publications or the practitioner world, or desist. However, due to immense foundational changes in economics, business models, technology, globalization, and a myriad of other aspects, the key attribute for excellence in marketing is proactive, predictive, and precise change leadership. This change leadership drives anticipatory product management within overall strategic marketing management.
In addition, you will review and analyze major emerging trends in product management, including the impact of globalization, precision target marketing to a cohort of one through the use of artificial intelligence, and integrated social media ecosystems driven by evolving multiplexed platforms driving the attention economy.
References
Hofbauer, G., Sangl, A., & Engelhardt, S. (2019). The digital transformation of the product management process: Conception of digital twin impacts for the different stages. International Journal of Innovation and Economic Development, 5(2), 74-86.

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