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ESCO occupation

product manager

Back to ESCO occupations

Product managers are responsible for managing the lifecycle of a product. They research and develop new products in addition to managing existing ones through market research and strategic planning. Product managers perform marketing and planning activities to increase profits.

1223.1 ISCO 1223 ESCO source
Competences
62
Groups
4
Essential
28
Optional
34

Competences and skills

62 ESCO relations
Essential knowledge 5 competences

Occupation specific

1 competence
socio-economic trends in your sector

Situation and evolution of a sector from a socio-economic perspective. Economic parameters such as the value contribution to the GDP of this sector, public and private investment, open calls and funding opportunities, audience trends, and household consumption related to your sector. Monitor of social perception and political focus: social perception of the sector and its stakeholders as a whole, academic and professional acknowledgement of this sector's professionals, qualification frameworks, audience evolution and trends, government authorities related to this sector, promotional measures, rulings and public investment.

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Sector-specific

2 competences
design management

The way in which design principles are incorporated to help achieve business objectives, create products and services, obtain new customers, and support marketing activities.

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product life-cycle

The management of the life-cycle of a product from the development stages to the market entry and market removal.

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Cross-sector

2 competences
industrial research and development

The set of activities that companies carry out to do industrial innovation and introduce new engineering products and services or new industrial production processes.

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market research

The processes, techniques, and purposes comprised in the first step for developing marketing strategies such as the collection of information about customers and the definition of segments and targets.

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Essential skills and competences 23 competences

Occupation specific

1 competence
organise participation in local or international events

Apply for and secure a place to participate in local or international exhibitions and competitions.

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Sector-specific

5 competences
combine business technology with user experience

Analyse and exploit the points where technology, user experience, and business meet in order to create and develop new products.

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define technology strategy

Create an overall plan of objectives, practices, principles and tactics related to the use of technologies within an organisation and describe the means to reach the objectives, taking into account analyses and relevant regulations.

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develop business plans

Plan, write and collaborate in the implement business plans. Include and foresee in the business plan the market strategy, the competitive analysis of the company, the design and the development of the plan, the operations and the management aspects and the financial forecast of the business plan.

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develop new products

Develop and generate new products and product ideas based on market research on trends and niches.

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develop product design

Convert market requirements into product design and development.

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Cross-sector

17 competences
analyse consumer buying trends

Analyse buying habits or currently prevalent customer behaviour.

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analyse economic trends

Analyse developments in national or international trade, business relations, banking, and developments in public finance and how these factors interact with one another in a given economic context.

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analyse market financial trends

Monitor and forecast the tendencies of a financial market to move in a particular direction over time.

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design customer experiences

Create customer experiences to maximise client's satisfaction and profitability.

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develop communications strategies

Manage or contribute to the conception and implementation of an organisation's internal and external communications plans and presentation, including its online presence.

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develop promotional tools

Generate promotional material and collaborate in the production of promotional text, videos, photos, etc. Keep previous promotional material organised.

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draw conclusions from market research results

Analyse, draw conclusions and present major observations from the results of market research. Suggest on potential markets, prices, target groups, or investments.

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execute marketing plan

Carry out all the activities involved in achieving specific marketing objectives within a given timeframe

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identify market niches

Analyse the composition of the markets, segment these into groups, and highlight the opportunities that each one of these niches represent in terms of new products.

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make data-driven decisions

Collect data such as Key Performance Indicators (KPIs) for an organisation and use the information to formulate actions and strategies.

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manage product testing

Oversee the testing procedures to ensure that the end-product complies with the quality and safety requirements.

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manage the customer experience

Monitor, create and oversee customer experience and perception of brand and service. Ensure pleasant customer experience, treat customers in a cordial and courteous manner.

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oversee quality control

Monitor and assure the quality of the provided goods or services by overseeing that all the factors of the production meet quality requirements. Supervise product inspection and testing.

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perform market research

Gather, assess and represent data about target market and customers in order to facilitate strategic development and feasibility studies. Identify market trends.

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persuade clients with alternatives

Describe, detail, and compare possible alternatives that clients could take about products and services to persuade them to take a decision that benefits both the company and the client.

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plan product management

Manage the scheduling of procedures which aim to maximise sales objectives, such as forecasting market trends, product placement, and sales planning.

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prepare market research reports

Report on the outcomes of the market research, main observations and outcomes, and notes helpful for analysing the information.

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Optional knowledge 12 competences

Occupation specific

0 competences

No competences in this bucket.

Sector-specific

4 competences
cost management

The process of planning, monitoring and adjusting the expenses and revenues of a business in order to achieve cost efficiency and capability.

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market pricing

Price volatility according to market and price elasticity, and the factors which influence pricing trends and changes in the market in the long and short term.

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product comprehension

The offered products, their functionalities, properties and legal and regulatory requirements.

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sales strategies

The principles concerning customer behaviour and target markets with the aim of promotion and sales of a product or a service.

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Cross-sector

8 competences
circular economy

The circular economy aims to keep materials and products in use for as long as possible, extracting the maximum value from them while in use and recycling them at the end of their life cycle. It improves resource efficiency and helps to reduce the demand for virgin materials.

green
ESCO source
consumer goods industry

The consumer goods industry refers to a concrete economic sector that produce and sell goods to consumers for they direct consumption, enjoyment or use. Industry that covers a wide range of activities whose target is the final consumption of products by households. It includes food production, clothing and leather, electronics, and household equipment, among other sectors.

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pricing strategies

The techniques, theories, and commonly accepted strategies regarding pricing of goods. The relation between pricing strategies and outcomes in the market such as profitability maximisation, deterrence of newcomers, or increase of market share.

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product data management

The use of software to track all information concerning a product such as technical specifications, drawings, design specifications, and production costs.

digital
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production processes

Materials and techniques required in the production and distribution processes.

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quality standards

The national and international requirements, specifications and guidelines to ensure that products, services and processes are of good quality and fit for purpose.

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solar products

The varieties and key features of solar products such as solar panels, solar water heaters or solar-powered chargers. Moreover, the knowledge of their functionalities, components and legal requirements.

green
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web analytics

The characteristics, tools and techniques for measurement, collection, analysis and reporting of web data to get information on the users' behaviour and to improve the performance of a website.

digital
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Optional skills and competences 22 competences

Occupation specific

0 competences

No competences in this bucket.

Sector-specific

4 competences
carry out sales analysis

Examine sales reports to see what goods and services have and have not sold well.

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create prototype of user experience solutions

Design and prepare mock-ups, prototypes and flows in order to test User Experience (UX) solutions or to collect feedback from users, customers, partners or stakeholders.

digital
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develop revenue generation strategies

Elaborate methodologies through which a company markets and sells a product or service to generate income.

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manage production systems

Organize, manage, and maintain all aspects of production, including product design, production planning, and production control systems (for example by the use of the computer program WFM).

digital
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Cross-sector

18 competences
advise on communication strategies

Provide companies and organisations with consulting services concerning their internal and external communication plans and their representation, including their presence online. Recommend improvements in communication and make sure that important information reaches all employees and that their questions are answered.

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analyse cultural trends

Keep up to date with popular cultural trends such as pop culture, cultural and social slang.

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analyse data about clients

Study data about clients, visitors, customers or guests. Gather, process and analyse data about their characteristics, needs and buying behaviours.

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apply strategic thinking

Apply generation and effective application of business insights and possible opportunities, in order to achieve competitive business advantage on a long-term basis.

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coordinate events

Lead events by managing budget, logistics, event support, security, emergency plans and follow up.

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ensure products meet regulatory requirements

Study, implement, and monitor the integrity and compliance of products with the required regulatory aspects by law. Advise on applying and abiding by regulations on the product and manufacturing regulations.

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follow production schedule

Follow production schedule taking into account all requirements, times and needs. This schedule outlines what individual commodities must be produced in each time period and encapsulates various concerns like production, staffing, inventory, etc. It is usually linked to manufacturing where the plan indicates when and how much of each product will be demanded. Utilise all the information in the actual implementation of the plan.

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integrate marketing strategies with the global strategy

Integrate the marketing strategy and its elements such as the market definition, competitors, price strategy, and communication with the general guidelines of the global strategy of the company.

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manage budgets

Plan, monitor, report on the budget and prepare set production budgets.

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manage feedback

Provide feedback to others. Evaluate and respond constructively and professionally to critical communication from colleagues and customers.

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manage profitability

Regularly review sales and profit performance.

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manage the handling of promotional materials

Plan and prepare the production of promotional materials with third parties by contacting printing companies, agreeing on logistics and delivery, and making sure that deadlines are met.

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maximise sales revenues

Increase possible sales volumes and avoid losses through cross-selling, upselling or promotion of additional services.

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perform product testing

Test processed workpieces or products for basic faults.

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provide improvement strategies

Identify root causes of problems and submit proposals for effective and long-term solutions.

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schedule production

Schedule the production aiming maximum profitability while still maintaining the company KPIs in cost, quality, service and innovation.

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study sales levels of products

Collect and analyse sales levels of products and services in order to use this information for determining the quantities to be produced in the following batches, customer feedback, price trends, and the efficiency of sales methods.

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track key performance indicators

Identify the quantifiable measures that a company or industry uses to gauge or compare performance in terms of meeting their operational and strategic goals, using preset performance indicators.

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