What do we understand from product management in E-commerce

Lets first know what exactly product management is?

We can describe product management as an organizational function that involves the method and process of conceiving, planning, developing, testing, launching and delivering products at the right time in the market. It is also responsible for removing a product due to low customer satisfaction or increased costs.

A product manager pursues the maximization of sales revenue, market share and profit margins for a company. A product manager often analyzes competitive and market conditions and presents a vision of the product that differs and offers a unique value based on customer demands.

Specifically, in software development, a product is nothing but the website, application or online service that all users interact with. If we talk about e-commerce, a product manager could be responsible for a complete system (such as a mobile application) or part of a system (such as payment flow in an online store on all devices). Product management leads the growth of the company and ultimately the revenues if you too are looking for developing a business which will start giving you profit from day one then don't hesitate in contacting us.

The management of products in e-commerce has to discover a system that is usable, feasible and valuable to achieve the objectives of the company. For MagmaLabs, it is important to develop e-commerce sites that offer the best user experience, integrate the best technology and maximize its commercial value.
Now let us understand what would be the pros and cons of product management?

Some people may object to hiring a product manager for their online stores. You can doubt the benefits of assigning this role to a specific person within the company. Sometimes they do not believe that Product Management increases their sales or they believe that this function will complicate the entire commercial process.

The truth is that there are no drawbacks in the creation of a product management department for e-commerce companies. On the contrary, there are three advantages that you should consider when hiring a product manager for your online store.

1) Market-oriented approach: Product managers help companies develop products that are targeted to their target markets. They analyze the needs by conducting market studies and use consumer knowledge to design the best e-commerce interface that guides the user through the purchase process.

2) Time prioritization: One of the objectives of product management is to make the best decisions on time. To achieve this, it is necessary to assess the importance of each idea and its impact on the project schedule.

3) Product quality: Product managers conduct in-depth studies of the systems that will be launched, repaired or removed; They become experts and the best critics of their projects. Product managers generally run tests and metrics that demonstrate their ability to improve and offer the best product to the user.