Product management is a very important discipline in a lot of technology companies, they are the glue between business strategy and the engineering team. In many organizations they are also closest to the customers and help strike a balance between demand for features and profitability to the business. In really good organizations product management decentralizes the execution of the strategy rather like Napoleon did with the French Army when he radically decentralizing his command.
The concept of social product management is having a design and prioritization process that is guided by the needs, demands but also capabilities of your customers. I would really like to hear from other product managers that are working on making social part of their process.
Here’s a presentation on how to include social media in product management from an Ad Agency