Chapter 1: What Is Product Management? Explore Chapter 1 templates and tools from The Product Manager’s Desk Reference (3rd Edition), including product taxonomy, portfolio structure models, and the Product Management Life Cycle. Download the chapter abstract and illustration insights. Chapter Abstract Product management is the holistic business management of a product, from its inception through post-launch performance management. A product is anything that is sold, tangible, intangible, digital, physical, or service-based, and exists to create value for customers and the business. The field of product management requires cross-functional leadership, strategic thinking, financial understanding, and the ability to influence decisions without authority. Product managers define the product, how it fits into the business, how the business model works, and how value flows across the organization. This chapter introduces the Product Management Life Cycle Model, the basic architecture of products and product lines, product taxonomies, and the organizational contexts that shape how product teams operate. It establishes the foundation for all subsequent chapters. Download the Chapter Abstract > Templates and Diagrams for Chapter 1 Figure 1.1: Product Taxonomy Shows how offerings are classified to create a structured understanding of product relationships. Figure 1.2: Product Line Hierarchy Explains how products connect within a line to serve different customer needs. Figure 1.3: BMW Automobile Product Lines Provides a real-world example of structured product lines at scale. Figure 1.4: General Product Portfolio Structure Illustrates how products, lines, and platforms form a portfolio. Figure 1.5: BMW Group Automobile Portfolio Shows how a multibrand product portfolio aligns across segments. Figure 1.6: How Solutions Are Structured Describes how components, services, and bundles create customer-facing solutions. Figure 1.7: Product Management Life Cycle Model Depicts the lifecycle stages guiding strategic and operational product decisions. Download Illustration Insights > What does Chapter 1 of the Product Manager’s Desk Reference establish? The foundation for understanding product management, product structures, and the Product Management Life Cycle. Who benefits from these templates? New product managers and cross-functional partners who need clarity on product structures and terminology. Does this chapter apply to digital and physical products? Yes. These frameworks work for SaaS, hardware, and hybrid solutions. The Product Manager’s Desk Reference, 3e The Product Manager’s Desk Reference, Third Edition is the definitive guide to product management for today’s fast-moving, digital-first business environment. Steven Haines presents a complete, practical body of knowledge covering strategy, execution, cross-functional leadership, and product portfolio management. Updated with modern tools, analytics, and development approaches, it equips product managers and product teams with a repeatable framework to run products as businesses and deliver measurable results. Buy the Book Explore Product Management Training Get In Touch First Name(Required)Last Name(Required)Email(Required)Phone NumberCompany NameMessage(Required) Training a Team? Customized Corporate Training Supercharge Your Team (6+): We tailor proven Business Acumen content to your specific goals, offering a customized program delivered online or in-person to ignite your team’s potential and drive results.
