The Power of Specialization: Why Product Management and Product Marketing Need to be Distinct Roles
As products grow and become more successful, the teams behind them must adapt and become more specialized. One person can’t handle everything on their own, and that’s why it’s crucial to have distinct roles for product management and product marketing.
Understanding the Difference between Product Management and Product Marketing
Product managers focus on creating value for businesses and users by developing products that meet their needs. They work at the intersection of technology, business, and user experience to create a feasible, viable, and desirable solution.
On the other hand, product marketing managers focus on communicating and distributing that value to buyers. They work at the intersection of product, sales, and marketing to ensure that the product reaches its target market and drives business impact.
Why Specialization is Key
While it’s common for product managers to wear many hats, including that of a product marketing manager, in the early stages of a product’s development, it’s essential to have dedicated specialists as the product grows.
Dedicated focus is required to handle the sheer volume of activities involved in product development, and one person can’t master both creating products and distributing products. Both areas require years of dedicated practice and expertise.
The Four Fits Framework
To understand the importance of specialization, let’s look at the four fits framework:
- Product-market fit: The product meets the needs of its target market.
- Product-channel fit: The product is optimized for a specific distribution channel.
- Pricing-channel fit: Revenue and customer acquisition costs are in optimal equilibrium.
- Market-pricing fit: The market is willing to pay the price asked.
Product managers focus on product-market fit, while product marketing managers focus on pricing-channel fit. The two remaining fits require collaboration between the two roles.
The Dangers of Working in Silos
When product management and product marketing management are separate silos, it can lead to poor product-channel fit and poor market-pricing fit.
For example, if a product manager prioritizes features for a low-end market, but the product marketing manager needs high revenue per customer to cover acquisition costs, it won’t work. Either the product manager should focus on a smaller, wealthier niche, or the product marketing manager needs to reconsider their acquisition plan.
The Importance of Harmony
Achieving the four fits requires close alignment between product management and product marketing. Products are built with a specific channel in mind, and channels generate various costs that need to be covered by revenue.
When product managers and product marketing managers work together, they can reach those four fits and create a robust, competitive product offering.
Conclusion
Specialization is key to success in product development. By having distinct roles for product management and product marketing, teams can focus on creating value and communicating that value to buyers. By working together, product managers and product marketing managers can achieve the four fits and create a winning product strategy.