What are the key responsibilities of a product manager?

The key responsibilities of a product manager can be thought of in terms of the jobs a product managers must do (in the sense of the Jobs to be Done framework). While priorities may vary by organization and even the environment in which PM is practiced, here are some widely accepted jobs for product managers:

1. Establish and Align Product Business Motivation with Business Goals

Business motivation refers to the ends we'd like to achieve (vision, goals, objectives) and the means we'll use to achieve them (mission, strategy, and tactics). PMs collaborate with key stakeholders to ensure the product vision supports the company’s overall mission and goals. This involves gathering input from executives, customers, and market insights to form a clear vision that is not set unilaterally but shaped by a broad range of perspectives. The product manager defines business motivation at the product level and ensures that it is driving success at higher levels

2. Prioritize Market Desires with Business Objectives

Balance what the market desires with what the product organization aims to achieve from a business perspective. This involves collecting and synthesizing input from customers, market trends, and competitors, while aligning these needs with the organization’s strategic goals. Prioritization is not based solely on customer demand but also considers the product's business objectives, such as profitability, scalability, and alignment with the company's long-term vision. The product manager must facilitate discussions with key stakeholders to ensure that both market-driven opportunities and internal business priorities are addressed, helping the product succeed in the market while achieving business outcomes​​.​​.

3. Orchestrate Cross-functional Teams

Coordinate with development, marketing, sales, and support teams to ensure all functions contribute effectively to product success. This involves managing dependencies, schedules, and delivering a product aligned with both customer needs and business goals​.

4. Monitor and Measure Product Performance

Analyze product performance through KPIs, gather feedback, and iterate on the product to meet business objectives. Ensure the product continues to meet market demands and organizational strategy over time​​.