1.(organization definition) This manager is responsible for the planning, coordination, and monitoring of performance of a product in a multiproduct company or division. The product manager reports to the marketing manager or (if there are numerous product managers) to an intervening level of supervision such as group product manager or category manager. Some multibrand companies use the term brand manager rather than product manager to denote this position. Note: Because the product manager does not have line authority over the functional units that execute plans, this manager's success in achieving product goals (e.g. sales, profits, and market share) is largely dependent on his/her expert knowledge and persuasive ability. Types of functional units with which the product manager has working relationships include research and development, engineering, production, physical distribution, packaging, finance, marketing research, sales, advertising, and sales promotion. The product manager may be the principal point of contact between marketing management and the advertising agency. Although it is the exception rather than the rule, new product development may be an added responsibility of the product manager. If so, it is usually limited to product improvement or product line extension. 2. (product development definition) A person charged with one or more products or brands. Most often, a product manager is responsible for formulating and implementing the marketing goals and strategies for commercialized products. In some cases, however, a product manager also may be responsible for new product development. As a rule, a product manager must coordinate the efforts of various disciplinary specialists, e.g., manufacturing, sales and marketing research.