Product management was born during the Great Depression when a 27-year-old marketer proposed the idea of a “brand man”— an employee to manage a specific product rather than a traditional business role. Since the 1930s, the continued success of this function has led to the growth of product organizations across industries and geographies.

Product management is an organizational function that guides every step of a product’s lifecycle — from development to positioning and pricing — by focusing on the product and its customers first and foremost.

Due to focus on the customer, product teams routinely ship better-designed and higher-performing products. There is no one way to apply principles of product management. Every product has its own goals and challenges which require a unique and customized approach to product management. Martin Eriksson, in his article famously described product management as the intersection of business, user experience, and technology. Product managers gain empathy for the customer, and communicate their needs to the broader organization. They work most closely with development teams, but also need to get buy-in from marketing, design, and management.

Link for Martin Eriksson's article

                                     - Source: Atlassian