What is growth in product management?

Growth product management is the process of optimizing a product by tracking and using data to make evidence-based improvements. In growth product management (GPM), the focus shifts from developing a product to increasing a product's value and user base.

What is the difference between core PM and growth PM?

Core PMs focus on solving for a customer pain point or need and focused on feature work. Growth PMs focus on the customer's journey, through the lens of improving business metrics. Platform PMs focus on helping the business scale efficiently and effectively and focused on scaling work.

What is the projected growth for product manager?

Product Management Forecast. Product Management Jobs — Substantially more job openings in product management will be available in high-tech and traditional industries. The yearly increase in product management jobs is estimated at 30%-40%. The average annual salary for a product manager in the US is now over US$100,000

What is a growth strategy for a product manager?

A product growth strategy finds ways to improve upon an existing product. This could mean expanding its features or functionality, broadening the user base, or reducing frictions within the user flow.

What are the 4 possible growth strategies for companies?

The four strategies Ansoff identifies are market penetration, product development, market development, and diversification.

What is the responsibility of a growth product manager?

Growth product managers conduct research to better understand customer needs and the market, operate across the whole user journey, analyze product usage and customer behavior, run experiments to see what improves things, look to increase customer lifetime value with upsells, and engage with stakeholders.

What is the difference between product manager and growth product manager?

As a traditional product manager, your focus is on driving value for the customer. It's almost assumed that doing so will simultaneously drive value for the business. However, as a growth product manager, the business is your primary stakeholder and your primary goal is to align customer value with business value.

What are product growth strategies?

A product growth strategy is an actionable plan and framework that businesses use to increase revenue and product usage. If you want to expand your product's reach in your market and among your users, a product growth strategy helps guide your product and positioning.

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