Product management is the process of overseeing the life cycle of a product from conception to launch and beyond. It involves managing the development, marketing, and sales of a product, as well as ensuring that it meets customer needs and expectations. Product managers are responsible for understanding customer needs, developing product strategies
Product information management (PIM) is the process of managing all the information required to market and sell products through distribution channels. This product data is created by an internal organization to support a multichannel marketing strategy. A central hub of product data can be used to distribute information to sales channels such as e-commerce websites, print catalogues, marketplaces such as Amazon and Google Shopping, social media platforms like Instagram and electronic data feeds to trading partners. Moreover, the significant role that PIM plays is reducing the abandonment rate by giving better product information.