Service Product Management deals with managing a service product across its complete life cycle. This organizational function is equally common between Business-to-business as well as Business-to-consumer businesses. A service product, unlike a hardware or software product, is intangible and manifests itself as pure professional services or as a combination of services with necessary software and/or hardware. The service product management practice ensures management of a profitable service in the marketplace. Service Product manager identifies profitable service space, packages services in a productized form and delivers the same to the market. The function is a core service business management function and is a mix of sales and marketing functions. The function interfaces with various organizational groups like Strategy, Planning, Financial Controls /Management Accounting, Sales, Marketing Communications etc.Important functions of a Service Product ManagerService Idea Generation/ManagementThe function deals with capturing market's unmet and/or under-served needs, filtering the ideas based on business viability, business feasibility and potential, scale-ability, company strategy, and capital rate of return considerations. The end result is a potential set of market feasibility and market features captured in a marketing requirement document.Service Product CreationPotentially saleable service features are captured and productized. That means creation of necessary product documentation like executive materials, service product document, technical services document, service scope etc.Service Sales SupportService product management supports service sales by providing accurate resource estimate and in the right mix to provide an efficient product cost base on which to baseline the customer pricing.