what is product management in e-commerce?
TRANSCRIPT
What is Product Management in E-commerce?
What is Product Management in E-Commerce?● A product manager has to conceive, plan, develop, test, launch, and deliver
products in the market. Product management also determines if a product needs to be retired or discontinued due to increasing costs, low customer satisfaction, etc.
● Product management in e-commerce has to discover a system that is usable, feasible and valuable in order to achieve the company objectives.
● For MagmaLabs, it’s important to develop e-commerce sites that offer the best user experience, integrate the best technology and maximize the business value from it.
What is Product Management in E-commerce?
History of Product Development
● The earliest form of PM was known as Brand Management, a term
coined by Neil McElroy, who in 1931 proposed the idea of a "brand man"
—an employee who would be responsible for a product, rather than a
business function.
What is Product Management in E-commerce?
● Brand Management became popular and many tech firms started to integrate
it to their companies.
● In the 1990’s, tech companies that were rapidly expanding noticed that Brand
Management was mainly focused on a marketing communication role, and
the development of the product was left to others.
What is Product Management in E-commerce?
● The need to align the product’s development with customer needs, brought
Product Development to the centre of the Product Management role.
● Now Marketing is focused on owning the brand and customer acquisition,
while Product Management owns the value proposition and product
development.
What is Product Management in E-commerce?
What are the Pros and Cons to Product Management for e-commerce companies?
What is Product Management in E-commerce?
● Sometimes people don’t believe that Product Management will raise their
sales or they think this role will complicate the entire business process.
● The truth is that there aren’t cons of hiring a product manager for e-
commerce companies. On the contrary, there are three advantages that you
should consider it.
What is Product Management in E-commerce?
1. Market driven approach:
● Product managers help companies to develop products that are oriented to their target markets. They use the consumer insights to design the best ecommerce interface that guides the user through the purchasing process.
What is Product Management in E-commerce?
2. Time Priorization
● One of the objectives of Product Management is to make the best decisions on time. To accomplish this, it’s necessary to evaluate the importance of each idea and its impact on the project schedule.
What is Product Management in E-commerce?
3. Product Quality
● Product managers make in-depth studies of the systems that will launch, fix or withdrawal; they become experts and the best critics of their projects. Product managers usually run tests and metrics that prove their ability to improve and offer the best product to the user.
What is Product Management in E-commerce?
Conclusion
The best thing to prevent a client abandonment in e-commerce is to offer a great
user experience within your online store. If you hire an expert in Product
Management to develop or improve your e-commerce site you will be able to offer
the best shopper experience. When you focus your efforts on having the best
system for your e-commerce company, the maximization of sales revenues,
market share, and profit margins will be achieved as a natural consequence.
What is Product Management in E-commerce?
About
■
MagmaLabs is an e-commerce and software consultancy that builds software solutions for emerging, mid-size, and growth companies using innovative
technologies, top talent, and diverse teams.
What is Product Management in E-commerce?
Need help?
Need help figuring out how-to integrate Product Management in your E-commerce?
A team member at MagmaLabs is happy to help!
Send an e-mail to: [email protected]
What is Product Management in E-commerce?
