Product management's sole purpose is to build a product that customers will buy. While keeping the company's market needs in mind, product management will gather input from clientele, sales, prospective results. All of these factors will then be compared with the competition. After all of this is completed, they will work with product development to build a product plan. Product management often circulates from customers to decipher how the customers are using the product, if there are any complaints, extra needed features that the customer desires and all of this information is then relayed to product development. Product development and Product management will keep a very close communication to produce a product that perfectly resembles the customer's needs. 

With input from product management, product development will build the product as close to the customer's needs as possible. Product development is composed of the more technical part of the project where engineers, developers, QA, and QC will get involved to ensure the product is what the customer needs. 

I was glad to have a lecture that distinguished between product development and product management.  In small operations there is a tendency to blend the two together.  Having spent most of my career in academic settings, when I first conceived an entrepreneurial idea for a medical device, the product development piece involving the science and the what the product was supposed to address was clear and tangible. I was very engaged in the technical aspects of the product and its components.  I was familiar with the industry, how the product could be produced and the associated costs.  Hence, product development is more on an internal mechanism about product design and manufacturing.

However, the nebulous part for me was the product management.  I knew that it would involve the actually marketing engagement and interaction with the customer base, but how will we keep the product relevant and on top of the minds of our customer base?  The greater challenge was deciding on product packaging, policy for replacements/upgrade and, foremost, how do we cultivate relationships with providers who were "entrenched" in long-term relationships with the industry's major players? 

Since we would not be able to produce products faster than our competitors, nor had the deep pockets to  compete with marketing budgets of the market leaders, our product management ended focusing heavily on how our product will drive better patient outcomes, better patient treatment experience and thus, less burden on medical staff.  Our tactics to engage customers were no different than our competitors.

Product management must work in tandem with product development; product management's insights from the field should inform product development modifications.  In terms of a favorite, in the early stages of a company, I would prefer product development, but after getting a foothold in the market, product management would me my preference, because my device was designed to be a patient-centered product, so ongoing patient feedback and customer feedback from hospitals and health providers would be a high priority for me.

Product marketing leaders are responsible for communication, product positioning, and growth. Once a product is built, this individual communicates its value to the market at large, coming up with new ways to reach and engage target audiences.

Product managers, on the other hand, are responsible for coordinating the teams that build the product. These individuals work cross-functionally too, actively sourcing feedback from customers and translating this information into engineer-friendly instructions. At some companies, product managers will need a strong technical background with hands-on engineering experience—it depends on your product, workflows, and customer base.

As discussed in previous posts, Product management’s responsibility is to prototype and develop a product that fulfils customers need and eventually gets purchased.  It is based on the market requirements, and a good team will consistently adapt to recent feedback from customers and sales and bring about the modifications. And at the same time weighs what the competition is doing.  The team combines all these information with market trends to determine how the product will function based on road maps.  Also the Product management teams are well versed in technical aspects since they act as liaisons between technical and non-technical audiences. This aspect also makes them a good salesperson.

I feel that Product development is like a subset of Project management as this team builds the product with direction from product management. And a good Project development team should also keep in mind about future requirements that the product may be required to fulfil.

The function of product development is to plan how to develop a new product, actually manufacture it, and sell the product to consumers. There are a few moving parts that go into the development of a product, but most of it has to do with research. In this stage, the need for your product must be established. Researching common pains/gains of consumers could aid in finding a solution that better suits the consumers needs. Furthermore, research into predicted market size, market share, competitors etc. will determine the market forecast of a product and assist in a marketing strategy that ensures success.

As for product management, this role is subsequent to the product development in the sense that there is an actual product ready to be sold. The product manager will often find themselves managing the products inventory, getting customer feedback from sales representatives, and overall managing the business plan of that specific product.

I would personally enjoy product development more because I find research interesting. It can also be rewarding to find common problems of consumers to come up with the best solution and then actually see that idea out to development and sales.

Product Development is the basis or groundwork of marketing for the product. People gather together to develop an idea or a need for a product that customers would enjoy or desire. Primarily, they would have to propose ways or put their spin on it to make it more appealing to the customer as too much of the same product can lead to disinterest. More importantly, it's better to design a product with a need that is not met in the market yet, leading to more success in being ahead of the curve in the industry.
Product Management comes with overseeing the product and communicating with different parts of the company to ensure that the customer's needs are met. Plans have to be made for each stage of the product's existence to ensure that the product can live out its life expectancy in the industry for the company to get back what they're giving. I would like to be a part of both aspects of marketing. Inventing a product is intriguing to me as I enjoy learning and making things but managing that product would be a challenge that I'd like to face in life.

Product development is more about creating a product while product management is about managing that product once it has been created. The former provides an output while the latter focuses on creating an outcome (such as profits). however, there is some overlap between these two fields. During developing a product, the product development department focuses on the technical aspect of creating a product, while the product management department focuses on the business aspect. Both are needed for a product to be successful. Moreover, for some companies, both teams can work as one to have better synchronization between them. Though the motive can be different for both teams. Product management is more concerned with the result. While product development deals more with the process of creating the product.

Project management involves observing the product for its efficacy as well as acting as a "middle" man between the consumer and the company to ensure that the consumer's needs and expectations are met. 

Project development involves creating a foundation for a product to ensure its success. Brainstorming is a huge part of project development. 

I think for the best results, project management and development should work hand in hand. Any input gained from customers through product management should be relayed to the product development team to implement those ideas into new and upcoming products. This can overall increase the success of the product 

Product Development focuses on the research and creation of new products, involving innovation, prototyping, and testing based on market needs. It requires collaboration among engineering, design, and marketing to bring a product concept to life. Product Management is responsible for overseeing the product's lifecycle from launch to maturity and potential retirement. This includes the managing strategy, customer feedback, updates, and ensuring the product remains competitive and aligned with market demands over time. Both functions are crucial for a successful product, but if I had the choice I'd go with product development. The more hands-on engineering style is better for me in that my education has geared more towards that than any marketing or management roles. 

The choice between Product Development and Product Management depends on individual interests and skills. If someone enjoys technical aspects and problem-solving, product development might be a better fit. If someone prefers strategic thinking and cross-functional collaboration, product management is a good option.

If I had the choice, my preference would be for product management. Leading a diverse team to provide value to customers, making strategic decisions, and seeing a product through to market success are all extremely satisfying experiences. It has a significant influence on a business's success and permits creativity in determining the course of the product as well as ongoing learning about market trends. Also the role's broad character facilitates advancement in strategy, leadership, and interaction with customers.

I would say, product development focuses on creating new products through research and innovation and mainly turning ideas into real solutions or prototypes that meet one's customer needs.

On the other hand, product management looks over a product's life cycle from its launch to retirement. This includes strategizing, collecting customer feedback, and making adjustments to keep the product on top of the market competition. They also coordinate cross-functional teams to ensure the product aligns with the market demands. I would prefer product development over project management keeping the creative aspect of designing solutions in mind. I enjoy the challenge of working and being a part of the process of product growth from scratch idea to the market. 

Product development is mainly responsible for research and development of devices. They are preoccupied with testing prototypes and designs for either improving current devices, or designing a new one. Product management looks over a project or product life cycle from initial idea or launch to the retirement. They are in communication with sales to collect costumer feedback, and make sure the product meets costumer's needs and specifications. They ultimately decide what products to make for the market demands, and what changes to make in a product's design.