Who is a Product Head?
A Product Head is responsible for encouraging innovation, ensuring product success, and aligning the product roadmap with the overarching goals of the firm. they are also responsible for establishing the strategic direction of the product or product range. They are in charge of connecting product strategy with overall business goals, managing the product development lifecycle, and ensuring that products fulfil customer and market demands. The function of a Product Head is vital in any organisation; their role is to increase the company’s success within existing product lines. Their duties range from creating new products to increasing the efficiency of existing ones. They also lead a team of product managers and develop visions and long-term goals in partnership with other company departments to expand on success.
The title of the product head will vary depending on the organisational structure and particular titles used within the company. Unlike some other positions inside an organisation, it doesn’t have a set title, and it can change between businesses and industries. The title might be referred to as Chief Product Officer (CPO), Head of Product Management, or Director of Product, among other titles.
What does a Product Head do?
A Product head is someone who manages a group of product people. Product heads play a key part in developing the people on your team, creating an environment that helps them succeed, and improving the effectiveness of the product management function in the enterprise. Here’s a more in-depth breakdown of some of the important responsibilities:
- Developing and communicating a compelling product vision aligned with the company’s long-term goals.
- Formulating and executing strategies to achieve the product vision.
- Contributing to the business strategy and ensuring that the plan is realistic and shared with the product people of the team.
- managing all aspects of the product lifecycle, including conception, development, launch, and continuing upkeep.
- Defining and prioritizing features based on market trends, customer feedback, and business priorities.
- Cooperating and Collaborating with other teams, including marketing, sales, engineering and design to ensure seamless product development.
- Conducting market research to identify the threats and trends and use that data to make informed decisions about the product’s direction.
- Leading and inspiring a team of product managers, designers, and developers, and Providing mentorship, guidance, and support to ensure a high-performing and motivated team.
- Developing a clear and strategic roadmap, ensuring that the roadmap aligns with business priorities and customer needs.
- Managing budgets related to product development and ensuring optimal allocation of resources.
- Communicating product strategies, updates, and performance to stakeholders, including executives and investors.
Job Brief: Product Head
We are looking for an experienced and visionary Product Head to head our product management team and drive our product portfolio’s strategic direction. As a Product Head, you will work strategically, build a strong team, and ensure the company’s economic success by constantly inventing new technologies, entering new markets, and expanding sales and profitability in a sustainable manner. The ideal applicant must possess a track record of successful product development and management, as well as a thorough awareness of market trends and the ability to integrate product strategy with overall business objectives.
Location: (Mention the location) (In office or Remote) manner
Roles and Responsibilities: Product Head
- Strategic planning and portfolio management for all products.
- Formulating and executing strategies to achieve long-term product objectives.
- Defining and coordinating the company’s vision, strategy, and roadmap to position it as a worldwide provider.
- Prioritizing features based on market trends, customer feedback, and business needs.
- Creating and presenting visionary innovations (occasionally in front of investors or analysts), strategic decision proposals, as well as the calculation of business cases.
- You will be in charge of strategic collaborations as well as contract negotiations.
- You will represent the company to key customers, the press, and analysts.
- Driving innovation within the product portfolio and assessing the potential impact of new technologies.
- Leading a product management team in which you motivate and achieve steady improvements in your area and encourage learning, adaptation, and a willingness to iterate on product strategies and processes.
- Fostering a culture of continuous improvement within the product team.
Requirement and Skills: Product Head
- A degree in Business, Marketing, or a related field at the Bachelor’s or Master’s level is required.
- Minimum 8 years of experience in the field of Banking, EdtTech, XYZ-technology, marketing or product management
- Strong leadership capabilities with a track record of successfully leading and motivating teams.
- Exceptional communication skills, both written and verbal in the English language in order to communicate with management and senior management as well as with employees and colleagues.
- Strong analytical skills with the ability to interpret data and trends.
- High-level motivational skills so that you can also manage virtual teams
- Strong collaboration skills, working effectively with cross-functional teams, including marketing, sales, engineering, and design.
- The Product Head role involves travel, encompassing visits to customers, engagement with stakeholders, participation in roadshows, attendance at trade fairs, involvement in press events, and interactions with analysts.
Additional considerations:
- A background in economic sciences, engineering, or technical training, coupled with supplementary education in business administration, is highly advantageous.
- Possessing a Product Management certification aligned with the Open Product Management Workflow provides an additional advantageous qualification.
Frequently Asked Questions (FAQs)?
1. What distinguishes a Product Head from other product management roles?
A Product Head is often a higher-level leader who is in charge of the entire product strategy and vision. They are concerned with connecting the product plan with the larger company goals.
2. How important is customer feedback in the role of a Product Head?
Client feedback is essential. To make sure the product satisfies user desires and expectations, a product head should aggressively seek out and take into account customer feedback.
3. What are the key challenges faced by Product Heads?
Product Heads frequently struggle with managing various teams, keeping up with quickly changing technologies and striking a balance between short- and long-term goals.
4. How can one transition into a role as a Product Head?
Typically, a combination of relevant education, years of experience in product management, and a proven track record of successful product launches is essential. Leadership skills and strategic thinking also play a pivotal role.
5. What is the average pay scale for a Product Head?
The average annual salary for a Product Head in India is approximately ₹50,00,000, and the average supplementary cash compensation is ₹7,50,000, ranging from ₹5,00,000 to ₹20,00,000.