Technology vs. Product Management

I previously wrote about technology management, its definition and areas where a technology manager often struggles. In high-tech companies, especially startups, the technologist also plays the role of a product manager. Regardless, a firm’s success depends on how well its technology and products are managed.

The two functions bring opposing perspectives to the table. The technology manager believes that the technology will drive excitement, generate royalties and create new markets: technology push. The product manager believes that the market should dictate the product and technology directions: market pull. However, to be successful the firm needs both. It needs to effectively manage and bridge the gap from technology idea to product commercialization.

Note: product marketing and product management functions tend to be quite blurred depending on many factors, such as the size of the firm, if it is a startup, or a service vs. technology firm. For the purpose of this article, I’m focusing on product management as the aspect of defining a product and driving its commercialization process.

Dr. Jolly (Commercializing New Technologies: Getting from Mind to Market) defines technology as a capability that is embodied in one or more products. As a capability, technology enables the company to compete in different dimensions: higher value products, cost advantage, attract new markets and customers. Technology development and commercialization is multifaceted. It is not only about the product’s end-customer. It incorporates shareholders that are interested in embedding the capability to other products, or licensing the technology fully or componentizing and selling aspects of it to partners and in some cases competitors.

Products are targeted to an end-user (the customer), where it satisfies a market want or need. The main concern of product management is to identify the best way to realize value from the product’s commercialization process. It is also keeping the features at bay; saying ‘no’ to developers and sometimes the customers, that feature bloat is bad.

Product managers are a constant in the lifecycle of a product. They own the product completely from conception to market launch and beyond. As new projects relating to a given product are launched, the product manager continues to define the project goals and guide the cross-functional teams to achieve the business and market objectives. Ideally, they know their customers and market better than their customers know themselves. In a way, they are the soul of the product, keeping us true to its vision.

For both, change is constant. Managing change, selling new ideas, relieving people’s fears and managing risk is big part of the job. After all, opportunity lies between the cracks of the problem and potential solutions. And, the successful product manager goes beyond just answering the articulated needs/problems of her customers.

A firm drives competitive advantage from innovations that clearly deliver breakthrough value to their customers. However, in order to enable such breakthrough potential, the technology manager needs to have insight into not just technology capabilities, but its application, as well as customer and market needs.

At the end of the day, it is the job of the technology and product manager to turn what is complex into something simple, bringing value and benefit to its users. Unfortunately, through the process, what is extraordinary becomes ordinary. So, it is their job to keep the spark, the excitement and never ending possibilities going.

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