The standard provides manufacturers of technical products and services with basics for establishing, designing and optimising the product management function in their company. It describes the duties and competencies a product manager needs to have in order for the product management to be effectively integrated into the economic and technical processes of the company. Product management functions both internally and externally and is networked internally and externally with appropriate functionaries. The individual steps and milestones in the product management process are presented and explained parallel to the product development process. Target groups of the standard are: product managers, entrepreneurs, business consultants, universities and academies with corresponding education and training programs.