Overview: You can’t grow a business without new products, and bringing innovative new products to market is what product development jobs and, interchangeably, product developer jobs, are all about.
Product development can be defined as the overall process of strategy, organization, concept generation, product and marketing plan creation and evaluation, and commercialization of a new product. (1)
Candidates we recruit to fill product developer jobs and product development jobs often manage the product development and production process from the initial product design concept through the final stages of bulk production. Experienced product development marketing candidates are usually skilled at using systematic approaches that ensure adherence to design intention and brand integrity, while making sure that merchant pricing and assortment strategies are also achieved. They’re also expected to utilize various strategies to maximize profit margin, quality and brand goals.
Depending on their specific duties, candidates in product developer jobs may carry a number of related titles, including product design engineer, product development engineer and commercial and/or industrial designer.
Educational Requirements: Candidates we recruit for product development manager jobs typically spend a few years in lower-level product development roles, gaining the experience needed to translate market research into tangible product development decisions in more senior roles.
Most product development manager jobs require a bachelor’s degree in marketing or, depending on the role, a bachelor’s degree in engineering or design. But a master’s degree in business administration may also be required, again, depending on the job requirements for the position, which vary on a company-by-company basis. (2)
The future looks promising for product developer jobs and product development jobs, as product expansion initiatives and increased global competition continue to spur demand for skilled practitioners in this area.
According to the U.S. Bureau of Labor Statistics (BLS), employment for the category that includes product development manager jobs will experience steady 5 percent growth from 2014 to 2024, about as fast as the average for all occupations. (3)
Expected Salary: Candidates looking for product developer jobs or product development jobs can expect an average annual salary of $68,480 with geographical variations to $70,302 in places like New York City. Those occupying more senior-level product development manager jobs saw a significant jump in the national average salary to $109,223, according to GlassDoor.com. (4)
Typical Job Description: The folks over at Monster.com provided the following sample job description related to product development manager jobs. This is designed to assist HR talent professionals who need to create a job application that will attract qualified candidates, as well as job candidates who are seeking to understand the specific job duties and requirements of business development manager jobs.
Product Manager Job Responsibilities:
Develops products by identifying potential products; conducting market research; generating product requirements; determining specifications, production timetables, pricing, and time-integrated plans for product introduction; developing marketing strategies.
Product Manager Job Duties:
- Determines customers’ needs and desires by specifying the research needed to obtain market information.
- Recommends the nature and scope of present and future product lines by reviewing product specifications and requirements; appraising new product ideas and/or product or packaging changes.
- Assesses market competition by comparing the company’s product to competitors’ products.
- Provides source data for product line communications by defining product marketing communication objectives.
- Obtains product market share by working with sales director to develop product sales strategies.
- Assesses product market data by calling on customers with field salespeople and evaluating sales call results.
- Provides information for management by preparing short-term and long-term product sales forecasts and special reports and analyses; answering questions and requests.
- Facilitates inventory turnover and product availability by reviewing and adjusting inventory levels and production schedules.
- Brings new products to market by analyzing proposed product requirements and product development programs; preparing return-on-investment analyses; establishing time schedules with engineering and manufacturing.
- Introduces and markets new products by developing time-integrated plans with sales, advertising, and production.
- Determines product pricing by utilizing market research data; reviewing production and sales costs; anticipating volume; costing special and customized orders.
- Completes operational requirements by scheduling and assigning employees; following up on work results.
- Maintains product management staff by recruiting, selecting, orienting, and training employees.
- Maintains product management staff job results by counseling and disciplining employees; planning, monitoring, and appraising job results.
- Maintains professional and technical knowledge by attending educational workshops; reviewing professional publications; establishing personal networks; participating in professional societies.
- Contributes to team effort by accomplishing related results as needed.
Product Manager Skills and Qualifications:
Product Management, People Management, Understanding the Customer, Product Development, Requirements Analysis, Pricing, Planning, Competitive Analysis, Sales Planning, Inventory Control, Financial Planning and Strategy (5)
- Entrepreneur. Product Development. Small Business Encyclopedia. (Accessed Aug. 12, 2016)
- MarketingSchools.org. Product Development Manger- The Career. (Accessed Aug. 12, 2016)
- U.S. Bureau of Labor Statistics. Advertising, Promotion, and Marketing Managers. (Accessed Aug. 12, 2016)
- GlassDoor.com. Product Developer Salaries. (Accessed Aug. 12, 2016) and, GlassDoor.com. Product Development Manager Salaries. (Accessed Aug. 12, 2016)
- Monster.com. Product Manager Job Description. (Accessed Aug. 12. 2016)
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