1. Idea & Discovery Phase
- Identify problems & opportunities through market research, user feedback, and competitor analysis.
- Define target audience and create user personas.
- Validate the idea via customer interviews, surveys, and proof-of-concept testing.
- Assess feasibility (technical, business, and financial).
- Develop a high-level vision and strategy for the product.
PM Responsibilities:
- Conduct user research and competitive analysis.
- Develop business case and product strategy.
- Engage with stakeholders (executives, customers, engineers).
- Define key success metrics.
2. Concept & Planning
- Refine the product vision & goals.
- Define the MVP (Minimum Viable Product) scope.
- Prioritize features based on user needs and business impact.
- Create a product roadmap.
- Align with stakeholders (engineering, sales, marketing, leadership).
- Estimate resources, timeline, and costs.
PM Responsibilities:
- Work with designers & engineers to define technical feasibility.
- Define key user journeys and use cases.
- Develop and maintain a roadmap.
- Align internal teams (marketing, sales, customer support) on strategy.
3. Development & Execution
- Build the product (agile sprints, development cycles).
- Collaborate with engineering & design teams to iterate on UI/UX.
- Test & validate features through beta testing and usability testing.
- Ensure QA & bug tracking before launch.
- Iterate based on internal testing & early feedback.
PM Responsibilities:
- Define and refine feature requirements (PRDs, user stories).
- Prioritize the backlogBacklog A prioritised list of tasks that are needed to complete a project, including features, bug fixes, non-functional requirements, etc. This list is constantly refined and prioritised as new information surfaces. and work closely with the dev team.
- Act as a bridge between engineering and business teams.
- Track development progress and manage trade-offs.
- Lead user acceptance testing (UAT) and ensure product quality.
4. Launch & Go-To-Market (GTM)
- Plan launch strategy (soft launch, beta release, full launch).
- Define pricing and positioning strategy.
- Train sales & customer support teams.
- Execute marketing campaigns and messaging.
- Monitor early adoption & collect user feedback.
PM Responsibilities:
- Collaborate with marketing on GTM strategy.
- Work with sales and support teams on training & enablement.
- Analyze user engagement and adoption metrics.
- Manage communication between product, marketing, and stakeholders.
5. Growth & Optimization
- Monitor KPIs (user engagement, retention, revenue, NPS).
- Analyze user behavior through analytics tools.
- Optimize features based on feedback and data insights.
- Expand market reach (new segments, international markets).
- Experiment with monetization strategies.
PM Responsibilities:
- Continuously analyze product performance and iterate.
- Work with growth teams to enhance adoption & engagement.
- Run A/B tests and data-driven optimizations.
- Manage feature updates and incremental improvements.
6. Maturity & Scaling
- Optimize operations & reduce costs.
- Maximize profitability through efficiency improvements.
- Expand product features based on long-term strategy.
- Consider new markets, integrations, partnerships.
- Assess competition & market shifts.
PM Responsibilities:
- Lead strategic planning for long-term growth.
- Identify opportunities for scaling the product.
- Oversee feature expansion & operational efficiencies.
- Work with finance to optimize costs & revenue streams.
7. Decline, Sunset, or Pivot
- Identify decline trends (low adoption, high churn, tech obsolescence).
- Decide on product retirement or repositioning.
- Develop an exit strategy (deprecation plan, user migration).
- Ensure smooth transition for existing customers.
- Extract learnings for future product decisions.
PM Responsibilities:
- Conduct market analysis to determine decline reasons.
- Align stakeholders on sunsetting or pivoting.
- Communicate effectively with customers and partners.
- Ensure operational and technical smooth transition.