In his book Inspirational Product Management, Marty Cagan defines product management as "the art and science of creating customer value through the creation and delivery of products." He further writes that product management is responsible for "asking the right questions, understanding customer needs, and working with the team to create products that delight customers."
Product management is therefore a critical role within any organization that creates and delivers products, whether those products are physical goods, software applications, or digital content. The product management function is responsible for the ideation, definition, development, and launch of products. In other words, product managers are responsible for bringing new products to market.
In order to be successful, product managers must have a deep understanding of the market, the customer, and the competition. They must also be able to work effectively with cross-functional teams, including engineering, marketing, sales, and support.