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Product management has become an established discipline in many industries since Procter & Gamble introduced it in 1931. During the last decades, many software product companies – such as Microsoft and IBM – implemented SPM (i.e. Software Product Management) in their organizations, as did corporate information technology organizations in other industries and companies that produce embedded software. The role of software product manager has emerged during this time as being of strategic value, since it is crucial for the economic success of a product. Successful product management means delivering the right products at the right time and price for the right markets and increasing profitability, product quality, customer satisfaction and the success rate of release projects in terms of schedule predictability and time-to-market.