A product manager is responsible for designing, improvement and launch of products. He manages the budgets for production. It is a very sensitive position as the competitive ability of a business rests in the products.
A product manager should also be able to understand what others rival companies are doing and find a way to rival any arrangement that they have in terms of bringing a new product into the market. It is never easy to do, but that is something that is not possible to happen too. Find out ways to ensure that your products remain on top of the list.