Skilled product managers are essential to the success of any company creating new products to sell, including any type of physical product ranging from new toys to manufacturing equipment to consumer electronics. While every physical product category has its own specific production and marketing requirements, there are also many shared similarities for product management processes that can allow professionals in this field to pursue careers across different industries.
In contrast, product managers need more specialized expertise to work in tech, where a familiarity with specific software development and product management methodologies is a prerequisite for many companies. Product managers are also greatly elevated in importance in tech, to the point where McKinsey has called them “mini-CEOs” - and noted an emerging trend of product management “emerging as a new training ground for future tech CEOs.”