what is a product owner?
As a product owner, you make sure the company develops relevant and profitable products that match the demand among customers. In addition to ensuring the products are feasible, you need to maximise the return on the investment your employer has made in the product. Your job is to handle all challenges that may arise during the process and that are not managed by the sales and marketing department, the development and design team, or the end users themselves.
Within every company and product, there is a unique constellation of users, developers and businesses, where your job is to adapt according to the product niche you are working with. For example, if you are working with a product that is to be sold to private customers, it may involve millions of potential customers who come into contact with the product, and as the product owner you must ensure that the design suits as many customers as possible. That in itself will make the product more profitable in the long run.
product owner jobswhat does a product owner do?
In the role of product owner, you will keep in touch with key parties within the company and company management. For example, it is you who paints a vision for the product, by identifying what need the product fulfills and which problems it can solve. It is you who should find the target group for the product you are developing. You also need to be helpful to the design team, with the aim of making the product as good as possible and testing it when it is finished.
As a product owner, you need to be an expert on market trends, qualitative and quantitative data from market research, and analysis of the competition in the market. When you understand the product's potential role, you can prioritise different features and set out a suitable plan to reach the target vision.
Would a job as a product owner suit your strategic planning skills? Then read on to find out more about the skills and qualifications required to succeed in the role of product owner.
average salary as a product owner.
In an increasingly competitive market, product owner is a sought-after role at many different companies. To be able to compete with other businesses in the same industry, you need to be good at tailoring your products and services to your target audience. This means that product owner often has an important role and that the salary negotiation position is strong.
Different industries can have varying salary levels, which affects your pay as a product owner. This makes it difficult to pinpoint what the average salary is for a product owner on the Swedish job market. Furthermore, a product owner role can be designed in different ways, with varying levels of responsibility and influence. A more complex role, which requires longer experience and deeper expertise, generally means a higher salary. This means that someone who has worked as a product owner for a longer period has good chances to negotiate a higher salary over time.
For more information about the salary level for product owner, see Unionen's market salaries seller SCB.
factors that affect the salary for a product owner.
A product owner can work at companies operating in several different industries and in various markets. There are product owners who also work at international companies and with a large amount of travel in their role. Generally speaking, the size of the employer is one of the factors that affects the salary for a product owner.
If you work for an employer with large parts of their operations abroad and a big international network, the salary level is generally higher. Geographically, it can also matter where in Sweden you work, as the general salary level in big cities and the regions around major cities is higher than in smaller towns or out in the countryside.
different roles of product owner.
As a product owner, the role can look different depending on your employer. But some of the different roles that exist are:
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technical product owner
As a technical product owner, you work with engineers and designers of various kinds to develop technical products. Your job involves analysing different trends, studying competitors' products and developing features to improve the performance of the technical products that are to be launched on the market.
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product owner for growth
As a product owner focused on growth and development, you should ensure that existing products remain competitive in the market. You find new ways and areas where new products can compete. You do this by studying the market and conducting research. After that, you help the development team create the features needed to make the products more attractive and increase profitability.
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digital product owner
A digital product owner works on overseeing the development and creation process of digital products. There can be many different digital products, but your job is to analyse the target audiences and review customer needs, so that based on this information you can come up with product improvements. You also carry out market analyses to calculate profitability and ensure that reasonable, achievable goals can be set within the company.
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software product owner
Together with developers and designers, you create functional software that can be sold to various customers. You analyse software solutions and make sure the products are updated and adapted to modern technology.
working as a product owner.
Product development at a company is the main responsibility of a product owner. Below you can read more about the role of the product owner and what the tasks and future prospects look like.
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job description and area of responsibility
Some common tasks in the role of product owner are:
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Set the vision and strategy for the product: As the product owner, you are the one who decides which direction product development needs to take, by establishing a vision. Your job is to get the rest of the team to understand the vision and strive for the same goal. You map out what needs to be done and determine the priorities to succeed with the objective. The role of product owner also involves creating a product plan and a timeline to know when the product should be ready.
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Evaluate ideas: As a product owner, you are responsible for gathering feedback and ideas, and prioritising among these to ensure value for customers and the product. You are in charge of brainstorming and deciding which ideas should ultimately be realised. After evaluating and choosing certain ideas, you need to communicate these to customers, partners and other key parties involved in the process.
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Prioritise among features: During the idea stage, there are many ideas and features being suggested. It’s your job as the product owner to prioritise among these. You need to rank them in relation to the strategic objectives. This may mean making important decisions, when the benefit and profitability need to be weighed against each other. When you prioritise among different ideas, the product’s future needs and the user experience are important aspects to consider.
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Create a product plan: As a product owner, you need to set a product plan that concretises the entire product development process. this product plan should also address how the product helps achieve the company's objectives and ensure that work progresses according to schedule. you create different product plans for the operational team and the engineering or development team.
- Analyse and document the process: It is important to focus on the outcome as a product owner. You need to monitor and oversee the entire development process and the various stages it goes through. You also make sure the production team is efficient and sticks to the schedules. During production itself, you ensure the company does not suffer from any capacity issues and that the necessary materials are available. After production, you are responsible for checking the testing of the product.
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working environment
As a product owner, you can work in a varied working environment, depending on which projects and which employer you work for. For example, if you work in the manufacturing industry, you need to regularly visit production to make sure everything is running according to plan. In pharmaceutical and technical companies, you also work closely with the teams out on the factory floor in production. But if you work with, for example, product development within software, you don't need to visit any factories.
Apart from overseeing production, you need to attend various meetings, and you also have some administrative duties. This means that a product owner also spends part of their working hours in a typical office environment.
It usually also involves some travel in the role, if you need to get to production at another location. It is also possible to work remotely, from home, but it is up to each employer to decide.
It is also important to be present in the production environment to keep track of the process.
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your colleagues
As a product owner, you can work in several sectors, from the financial sector to the technology and manufacturing industries. This means that colleagues can vary for different product owners. You can work with everything from project manager engineers and shop managers to payroll administrators, managers and financial controllers. It’s not uncommon for you as a product owner to work closely with the sales and marketing department, in various ways to improve the profitability of the products.
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work schedule
In most cases, product owner is a job carried out during regular office hours, either as a full-time position or other types of employment. It is rare for a product owner to need to work outside normal working hours, although meetings in the evenings or at weekends can occur in some cases. This usually happens when there is a deadline to meet or if it concerns a new important client. Other than full-time positions or full-time assignments, it is uncommon, but there are some cases where product owners are employed on a project basis.
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future prospects
As a product owner, you have good prospects for the future if you aim for more senior roles within the company. Initially, the product owner is part of the production team, but with increased responsibility, the role can become more complex. When you take on greater responsibility as a product owner, it usually means overseeing all production departments or major production processes. Many product owners also have good opportunities to advance to roles such as product manager or marketing manager later in their careers. With in-depth knowledge of the products and product development, you have a solid foundation for such a role.
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benefits of finding a job as a product owner through randstad
There are many advantages to finding a vacant job as a product owner through Randstad.
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various development and career opportunities
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an experienced contact person who can help you when needed
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many job vacancies within your area
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full-time or part-time work depending on the job/assignment
Do you want a permanent position as a product owner? A temporary job as a product owner is often a good first step towards a permanent position. Every year, several people get a permanent job with employers, thanks to a temporary job that has come through us at Randstad. In addition, many companies recruit their permanent employees directly through Randstad.
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education and qualifications.
There is no specific education required to work as a product owner. However, academic qualifications are considered an advantage.
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University or college: Many employers require that a product owner has an academic background, preferably in a field related to the industry in which the company operates. Since product owner is a job that demands a deep understanding of the market and the product, this is also considered a merit. Furthermore, an academic background is often advantageous for those who want a role with more responsibility, either as a product owner or something else. For example, if you are going to work with technical products, a technical academic education is preferable.
- Work experience: To be able to work as a product owner, you need to have solid work experience and preferably experience of the products or the industry you will be working in. This makes it easier to understand the job at its core. Someone who is skilled can also become a product owner without educational qualifications, but in that case a long work experience is required to prepare for the role.
knowledge and skills.
Some important skills required to become a product owner are the following:
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problem-solving ability
Products are developed to solve customers' various problems and challenges. If you have good problem-solving skills, you can come up with new ways to solve customers' problems. A problem-solving approach to the process makes decision-making easier and clearer.
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scheduling
It’s important to be able to plan your own and others’ time as a product owner. Good planning skills mean you can balance your own time between different projects, as well as between different stages and phases of a process. You also make sure you always finish on time.
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communicative ability
Being able to communicate with the production team, designers and customers is an important part of the job as a product owner. Good communication skills mean you are clearer in your communication, also when reporting results to company management or making suggestions for improvements.
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initiative
It's important to be proactive and brave enough to find solutions to problems when working as a product owner. Having the courage and ability to take initiative is therefore a key part of the job. It also motivates the production team and makes the whole process more efficient for everyone involved.
frequently asked questions about working as a product owner.
Here are the most frequently asked questions about working as a product owner.
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is there a big demand for product owners?
Product owner is a relatively new job title, but despite that, the need for product owners has increased across many industries. Many companies have realised the importance of having someone responsible for the entire product development. There are several different industries with a great need for product owners, including IT companies.
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what does a product owner do?
A product owner assists the production team in developing quality-assured and successful products by creating product plans based on market research. A product owner investigates what customer needs look like and who the target groups are. This then forms the basis for the development of the product.
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what education and qualifications are required to become a product owner?
There are no specific educational requirements to become a product owner, but many companies require an academic education in a relevant field of study. It is also important to have solid work experience in order to have understanding and insight into the specific industry or product.
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how do I apply for an open product owner job?
It's easy to apply for a job as a product owner. Search among our vacant jobs in your area. Then send in your CV and your personal letter or apply via LinkedIn
If you need help with your job application, you can read all our guides job tips here!
monitor jobs for product owners.
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