In industries like tech that prize innovation and speed, new frameworks like design thinking, Agile, and Scrum are popular ways to structure product development teams and processes to rapidly ideate, iterate, and bring new digital products to market. Whether you’re developing physical or software products, a familiarity with digital marketing analytics, user testing, and other customer research techniques provide invaluable insights on product/market fit to guide the development and marketing process.

Thus, expertise in modern product management methods is critically important. However, product management is being transformed by the ability to access unprecedented amounts of marketing and consumer data, as well as the emergence of the market for digital products like apps which have a much more complex product lifecycle. Like project planning in other fields, the effective use of these techniques is important to ensuring that products are delivered on time and within their budget.

Product management encompasses the processes used to develop, market, and sell a product.