How MBA in Product Management is Growing Business?

In a recent survey by Graduate Management Admission Council (GMAC), India has the second-largest pool of MBA graduates (15.6%) in the world. With the Industrial Revolution 4.0 i.e; digital transformation to the organization, the demand for MBA graduates has grown unexpectedly for different fields of specialization- Marketing management, Finance management, Technology management, Product management and more.

With organizations becoming more customer-centric, the demand for professionals having MBA in product management in India has grown further than anything else to eradicate the loopholes in business.

Understanding the Product Challenges in Market

With the launch of a new product in the organization, its business is likely to face certain challenges- it could be pricing, lack of innovations, less ergonomic structure and moreover its acceptance by the targeted customers.

The classic example of the product failure is the Samsung Note 7, which restricted the usage of products in the big picture after reporting the cases of fire. In such cases, it becomes the responsibility of the product manager to handle the situation proactively and monitor the product from each possible angle to avoid future ordeals before launching it in the market.

Role of Product Manager with MBA in Product Management in IndiaProduct management is the exclusive technique that involves preparing strategy, designing the product, marketing it to the targeted audience for making a product successful.

Due to this reason, the organization seeks professionals with a proven degree of MBA in product management in India to take responsible action for new products and support the business growth and economy at the same time.

The primary roles of product manager include-

• The product manager deals with managing complete product architecture that comprises product designing, marketing the product in the market, and monitoring the user experience parameters.? The product manager performs analysis on competitors performance and keeps updates about their latest launches.? Apart from managing the lifecycle of the product, the product manager is responsible for representing the organization’s visions in front of the internal and external stakeholders.? The product manager is responsible for creating independent decision making at the time of requirement pertaining to product development.? The person with an MBA in product management in India works at an ideational level that outlines the definition of product and company success.

Considering the popularity of D-Mart’s online delivery facility during the pandemic situation, we can appreciate the efforts cast by the product manager to forecast the success of the product among the customers. Similar to D-Mart, another latest product/service that marked the success due to proper supervision of the product manager is Zoom calls, which bolsters in bringing the workplace to home in a most fashioned manner.

The examples of D-Mart and Zoom hold market value and authenticity that the product manager with MBA in product management in India and overseas can show towards the brand and its product.

At last, we can conclude that MBA is contributing to growing the nation’s economy and organization’s wealth, as the professionals with particular degrees acquire all forms of skills needed in practical life to manage product and its development phase before and after the product launch in the market.