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Product Specialist: Career Path & Job Description
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The world is changing day by day in terms of population, advancements and the need for more end products. Consulting is that area that has its square foot in each and every industry be it in management, advertising, marketing, legal or product quality. Due to the products becoming increasingly complex and sophisticated and the constant need for consultants to match the level of advancement, that’s when product specialists come into the picture. Through this blog, we will highlight the roles and responsibilities, top skills, and job insights of a Product Specialist. 
This Blog Includes:
How to Become a Product Specialist?Top UniversitiesTop Colleges in IndiaProduct Specialist vs Product ManagerProduct Specialist Skills Marketing KnowledgeProduct Specialist: Role and Job DescriptionWhat Else Do You Need?Qualifications and other RequirementsSample Resume for Product SpecialistCareer ScopeRelated Job Profiles for Product SpecialistsSalary of Product SpecialistTop Companies Hiring Product SpecialistsInterview Questions for Product SpecialistFAQs
How to Become a Product Specialist?
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A Product Specialist or a Market Research Analyst should have a background in market research, sales or business management. Moreover, individuals can advance in product development and supply chain analysis, besides having knowledge of Statistics and Mathematics. Students can also go for an MBA in Marketing or Product Management. Business Research: Definition, Methods & Types Are you planning to expand your business? Then, research can help you determine your odds of positive results. Here’s our blog on Business Research to help you understand the basics of research and analysis. Top UniversitiesSo, how can a student acquire a degree to get a Product Specialist job? Well, here’s a list of top universities that you can enrol for: University Location Product Specialist Course Fee (per year) Duration University of Guelph Canada Graduate Diploma in Market Research CAD 6,838 (INR 37,2838) 1 to 2 years University of Texas, Arlington USA MSc in Market Research USD 22,856 (INR 16,61,574) 1 year Purdue University USA PhD in Markets and Industrial Organization USD 18,802 (INR 13,66,858) 3 to 5 years University of Colorado Boulder USA Graduate Certificate in Technology Ventures and Product Management USD 37,058 (INR 26,94,023) 12 credit hours University of Liverpool UK MSc (Eng) Product Design and Management EUR 20,550 (INR 16,69,563) 1 year The Hong Kong Polytechnic University Hong Kong BEng (Hons) in Product Analysis and Engineering Design HKD 1,40,000 (INR 13,11,272) 4 years RMIT University Australia Online Graduate Certificate of Product Management AUD 3,480 (INR 1,65,104) 1 to 6 months Aston University UK BSc (Hons) Product Design and Management EUR 19,400 (INR 15,76,133) 3 years Texas Tech University USA MSc in Marketing Research and Analytics EUR 13,830 (INR 11,23,604) 2 years University of Pittsburgh USA MSc in Marketing Science EUR 22,367 (INR 18,17,183) 2 yearsWant to get admission to your dream university abroad? Then, Register Here! Top Colleges in IndiaThe top colleges for product specialists in India are as follows: Indian Institute of Foreign Trade – IIFT New Delhi Xavier Institute of Social Service, Ranchi N. L. Dalmia Institute of Management Studies and Research, Mumbai NIILM Centre for Management Studies, Delhi/NCR School of Management, KIIT University, Bhubaneswar MIT-SOB: MIT School of Business, Pune Parul University, Vadodara. ISBM, Delhi Product Specialist vs Product ManagerProduct Specialists are responsible for a number of activities such as management of relationships with senior-level technical personnel and decision-makers, demonstrating the value of a product, service or technology to customers and responsible for technical resources for the sales organization to help meet and exceed their objectives. Product Specialists are generally confined to a specific department. Product Specialists often work closely with Product Managers. The latter is responsible for activities such as managing products through their entire lifecycle, marketing new products, suggesting improvements, strategizing and internal communication. Managers must possess excellent problem-solving and critical skills to deal with the executives, heads and founders of the company. Must Read: Masters in Product Management Product Specialist Skills Analytical Skills: Market research analysts must be able to understand large amounts of data and information. Communication Skills: Professionals should have strong communication skills when gathering information, interpreting data, and presenting results to clients. Critical-thinking Skills: To determine what marketing strategy would work best for a company, a Product Specialist should analyse every possible scenario and think logically. Detail-Oriented: Specialists have to focus on every little and trivial detail because they are often required to do precise data analysis of the differentiated product lines. Marketing KnowledgeIn order to be a successful Product Specialist, you must have a passion for the product that you are working on besides, increasing your marketing knowledge. Understanding the market allows you to match or exceed the competition but never fall. So, as Market Researcher you need to have a keen eye for spotting market trends, and a willingness to inspire clients and employees. Also, have the ability to work both independently and with a team. Now that we are past the academic details of being a Product Specialist, let us dive into the more hands-on approach to the field. The job description and responsibilities it brings with it. Product Specialist: Role and Job DescriptionA job of a Product Specialist revolves around market research and helping the sales team in coming up with extensive sales techniques. What companies look for in a Market Research Analyst include critical thinking ability, a degree in Marketing or Product Management, a great understanding of the market and its trends and knowledge of business plans. What more does a Product Specialist do? Work with business units in developing plans to increase revenue through products and services. Ensure that the products released by businesses meet their regulatory standards and are not detrimental to society. Measure the effectiveness of the strategies and the plans made by different departments for a product. Evaluate the pricing strategies for the product. Analyze the customer feedback collected by the employees and then use it for the benefit of the company. Conduct sales training for the newly appointed employees. Assist in the launching of new products and help different departments with expertise and knowledge. Maintain complete documentation of all the products and their specifications. Devising or assisting in selecting the proper channels of distribution. Performing product demonstrations for the staff and other stakeholders. Attending business meetings regarding sales. [optin-monster-shortcode id=”xf2mlnjiouddzrshykdb”] Identifying new market opportunities and providing leads to the sales and marketing team. Finding the prospective buyers of a given demographic. Assisting officials by describing the effability of the new markets. Acting as a supervisor of the higher level by keeping a check on the quality, quantity and necessary advancements based on the customers’ response. Career in Strategic Management Encompassing a range of disciplines including planning and organisation, formulation of short and long term strategies, implementation, directing and controlling, strategic management is steadily being recognised as an important sub-discipline within management studies. Take a look at the most popular career pathways that graduates in Strategic Management can consider. What Else Do You Need?Other than this, what else do companies find in a Product Specialist? An extensive experience in any field of business like sales, marketing or customer relations, beforehand is always appreciated in the job you are applying for. As an expert, you should have the capacity to memorize product specifications. Learning and installing the information to come up with new ideas is crucial for a Product Manager. But, what makes a good Product Specialist? Great communication skill is required both verbal and written so as to relay information regarding the markets or the products to the internal and external parties. A Product Specialist has to discuss the products manufactured and this requires holding meetings where other employees look up to you for specialist knowledge. Sometimes on deadlines, market research has to be done extensively and at the same time, accurately.Must Read: Career in Production Engineering Qualifications and other RequirementsThe general qualifications and other requirements for becoming a product specialist are listed below: A Bachelor’s Degree in a related field is required. X years of experience in a similar role is required. Excellent customer service abilities Outstanding verbal and written communication abilities Analytical abilities that are exceptional Excellent attention to detail and problem-solving abilities Excellent organisational skills Ability to work well in a team setting Working ability in a fast-paced environment Sample Resume for Product Specialist Source: LiveCareer
Career Scope
The career scope of a Product Specialist is given below: Related Job Profiles for Product Specialists Product Owner Product Engineer Product Management Analyst Product Design Engineer Product Development Coordinator Product Design Consultant Product Development Technician Salary of Product SpecialistThe average salary of a Product Specialist in India is ₹5,58,736/yr to ₹9,29,549/yr. These salaries depend upon the company and individual experience. Top Companies Hiring Product Specialists Mckinsey & Company IKEA Dell Technologies Siemens Technology India MasterCard Nike Apple BoeingMust Read: Career in Product Design Interview Questions for Product SpecialistThe general interview questions asked by a product specialist are as follows: What are the skills a Product Specialist should possess? What critical component of this position As a Product Specialist makes the work challenging? What techniques do you use to grip a customer’s attention? What are the current market trends our company should be aware of? Can you describe a time when your suggestion increased sales? What is the most important characteristic a Product Specialist should have? How does the job profile of a Product Specialist align with your career goals? Where do you see your career in five years As a Product Specialist? What do you consider ethical spending on an expense account? What relevant work experience do you have in this career field As a Product Specialist? FAQs What are the skills required for a product specialist?Here are the following skills needed to be a product specialist-Analytical Skills,Communication Skills:Critical-thinking Skills:Detail OrientedMarketing skills What is the salary of a product specialist?The average salary of a Product Specialist in India is ₹5,58,736/yr to ₹9,29,549/yr. These salaries depend upon the company and individual experience. What are the top companies for product specialists?Mckinsey & CompanyIKEADell TechnologiesSiemens Technology IndiaMasterCardNikeAppleBoeing What does a product management specialist do?A product management specialist is responsible for managing the product from start to finish, improving, marketing it to the right audience and handling all the aspects like development, improvement and sales. With greater experience and advanced education, product specialists can rise in their ranks to more challenging and lucrative jobs. Want to take your higher education abroad? Get in touch with our leadership mentors at Leverage Edu, who can provide you with the right assistance you need in order to stand out amongst the pool of candidates. Book your 30 minutes of free career counselling now! |
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