Which of the following is NOT a key component of product management?

Employee training is not considered a key component of product management. Product management primarily focuses on understanding customer needs, defining product vision, and guiding the product through its lifecycle from conception to market launch. The key components of product management typically include market promotion, quality control, and product development.

Market promotion pertains to the strategies used to create awareness and encourage purchasing of the product. Quality control ensures that the product meets certain standards and satisfies customer expectations. Product development involves the actual creation and refinement of the product based on market research and user feedback. Each of these components directly contributes to the effective management and success of a product in the marketplace, which differentiates them from employee training that, while essential in many business contexts, is more related to workforce capabilities rather than directly influencing product management processes.