Future careers 2021: Product Strategy and its relevance beyond 2021

Young successful businessman standing in wheat field looking gazing into the future

Would you have heard of an app developer or podcast host some years ago? It’s unlikely because not only were they not prevalent, they were also not formalised.

Every change of technology brings about new roles and jobs – which makes it difficult to plan for a future career. Help is at hand though – experts in education identified career trends that will be even more relevant tomorrow. Product Strategy: directing futures through product life cycles

Even the tiniest business needs to plan for every step and facet related to their product: where will their product come from? Who is their customer and how will they benefit? How will they ensure quality manufacturing and distribution? How do they differentiate themselves from the competition?

Behind every successful product is great product strategy. Centred on a business’s plans, decisions, and goals with regards to its product as well as its vision of how to achieve them, product strategy can bring ideas to life, and make them successful.

What do Indra Nooyi (Ex-CEO, PepsiCo), Susan Wojcicki (CEO, YouTube), Satya Nadella (CEO, Microsoft), and Sundar Pichai (CEO, Google) have in common?

They were all Product Managers.

Product managers, who are responsible for product strategy, are vital to the success of firms today. Their clarity and inputs are key to determining the following components:

  • Product design
  • Features and key characteristics
  • Quality
  • Target audience
  • Branding
  • Positioning There have been multiple changes in the last few years: increased digitisation, the rise of big data and its subsequent insight-driven analysis, a growing focus on design, ever-increasing customer expectations, and multinational presences. Product strategy ensures that a company can not just do business across these challenges but also:
  • Enhance customer delight
  • Gain new customers and retain existing ones
  • Increase customer value through the customer and product lifetimes
  • Sell new services to existing customers
  • Break into new markets, areas, or industries
  • Increase mobile adoption
  • Increase number of product ranges and offerings (Call out) Product management roles have grown an astounding 32 per cent in just two years from August 2017 to June 2019.
  • Is becoming a Product Manager easy?
  • You could be qualified in as little as five months. One of the top courses in product strategy is conducted by one of the Indian Institutes of Management (IIMs), long renowned for their quality of education and class of graduates. The Professional Certificate Programme in Product Strategy is brought to you from IIM Kozhikode in partnership with Eruditus. Its aim is to help learners become industry-ready product managers and leaders proficient in business model development with customer-centric, value-driven product focus as well as the skills to efficiently navigate every stage of the product life cycle. “In this tech-driven innovation era, competitive leadership lies in the connect between product innovation and ever-evolving customer expectations. This programme prepares professionals who deal with product/service or work in designing product strategy to expand their knowledge and build competencies in product strategy formulation,” Prof. Atanu Adhikari, the Programme Director of IIM Kozhikode, opines. IIM-K’s comprehensive curriculum helps professionals at all stages of their career develop product-centric thinking for business growth. Unrestricted by the pandemic, IIM-K’s course offers live online instruction as well as complete immersion in collaboration with Eruditus Executive Education .
  • Making world-class education accessible: Eruditus
  • Over the years, ‘open learning’ has emerged on a global scale, albeit with single digit completion rates. For professionals focused on upskilling for career progression, programmes with immersive learning experiences are ideal. Eruditus offers courses from globally renowned names such as MIT Sloan, Columbia, Berkeley, and Dartmouth as well as highly regarded institutions such as the IITs, IIMs, and ISB at home. These meticulously curated programmes in a range of formats are redefining the role and efficacy of online pedagogy. In 2019 alone, the average online course completion rate for Emeritus (the online division of Eruditus) was over 80 per cent, with weekly ratings averaging to 4.5/5. Whether you are mid-career or starting out, crafting a future-proof career is entirely within your reach. Take a leap online and get started on a whole new professional journey. This story is provided by Mediawire. ANI will not be responsible in any way for the content of this article.
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