There are 3 different types of product management teams, namely – innovators, builders and tuners. Innovator teams are responsible for developing a completely new idea from scratch into a working prototype, testing this prototype in different scenarios and then taking the product to market in a phased manner. Builders are teams that are similar to innovators, but mostly work on creating a product that may already be existing in the market, and is one that their organisation wants to develop as an offering. Tuner teams are those that are responsible for managing existing products and improving it through new releases and versions as per current market trends and/or customer feedback.