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Product management is an important organizational role. Product managers are typically found at companies that are building products or technology for customer or internal use. This role evolved from the brand manager position that is often found at consumer packed goods companies (see History below).

The product manager is often considered the CEO of their product and is responsible for the strategy, roadmap, and feature definition for that product or product line. The position may also include marketing, forecasting, and profit and loss (P&L) responsibilities.

The product manager often analyzes market and competitive conditions and lays out a product vision that is differentiated and delivers unique value based on customer demands. The role of product management spans activities from strategic to tactical. At its best, product management provides cross-functional leadership — bridging gaps within the company between different functions, most notably between engineering-oriented teams, sales and marketing, and support.