The profession of Product Owner
Responsible for a product from its conception to its success in the market, the product owner (or product manager for French speakers) inspires many vocations. Indeed, this role, which lies between product marketing and management, brings to life numerous useful and innovative products, software, and services.
Creative and a good communicator, the PO does everything possible to create products that meet consumer expectations. Their role is broad, as they need to identify major marketing trends before the competition. Then, they must mobilize and coordinate all those involved in the creation of new products, from the design office to beta testers, to launch it on the market within the announced deadlines.
Université Paris Dauphine-PSL has implemented the Master's in Management and Organization to train the entrepreneurs and product managers of tomorrow to meet all the challenges of this cross-disciplinary profession.
Role and responsibilities of the Product Owner
The product owner or product manager (or even product managers if they manage an entire range) oversees the process of creating new offers. They act as a bridge between the client's expectations, the business teams, and the technical experts involved in the project.
This specialized project manager is often compared to a conductor, as they facilitate group dynamics and ensure the smooth progress of the project. On a daily basis, the product owner is responsible for:
Daily tasks
- Commission market studies and gather data on the target market
- Stay informed about current trends
- Create a panel of users, beta testers, or clients likely to provide objective feedback to improve each version of the product
- Provide operational solutions to various issues
- Present the product to management, potential investors, sales teams, and initial clients
- Prioritize the various project tasks among stakeholders
- Ensure adherence to the predetermined budget
- Maintain good relations between the team members involved
- Represent the customer’s voice throughout the project
- Analyze the results from testing and early sales to improve future products
- Propose new approaches, features, or products to capture market share
Salaries and career progression
The remuneration of a product manager is closely linked to their sector of activity and level of experience. With a management position upon graduation, their median starting salary is €40,000 gross annually. This figure may vary depending on the targeted industry: for instance, a textile product manager will be less valued in the job market than an IT marketing product manager with advanced technical skills, a profile that is still rare but highly sought after by recruiters.
With experience, the product owner will gain new responsibilities. They could become a product line manager or even a collection manager depending on their industry. Successfully launching a few products could also lead them to positions such as marketing manager or even director of innovation.
Required skills
- Team spirit
- Excellent interpersonal skills
- Mastery of the Agile methodology
- Strong organizational and planning skills
- Creativity
- Knowledge of customer marketing
- Versatility
- Advanced technical knowledge related to the targeted product or service: insurance, textiles, digital, automotive, etc.
- Commercial skills to pitch the project internally, as well as to investors and potential beta testers
How to become a Product Manager ?
There is no standard path to becoming a product manager. Many academic and self-taught paths enable future students to train for the challenges of this cross-disciplinary profession. However, to access high-level positions in large companies, it is better to rely on a Master’s in Management from a leading institution.
Université Paris Dauphine-PSL offers a highly professionalizing Master’s in Management & Organizations. This advanced training aims to provide students with the tools, techniques, and management methods essential for product design in a project-based environment. Through design workshops and professional internships, aspiring product managers learn to innovate and adapt to all types of situations.
Training to Become a Product Owner at Université Paris Dauphine-PSL
The Master’s in Management & Organization prepares tomorrow’s leaders for the numerous challenges of product design, next-generation management, and new tools and approaches to support innovation.
Université Paris Dauphine-PSL fosters a broad culture of management, incorporating various techniques to facilitate group work. Therefore, the career prospects for this Master’s program are particularly abundant, and young graduates appreciate being able to apply their cross-disciplinary knowledge to advance their careers.
There are also numerous opportunities to work or study abroad, with the possibility of earning a double degree in partnership with universities in Italy, Peru, the United States, Korea, and Australia.