A Product based company is one that develops a product with reference to the market and its customer needs and then sells it in the market. So, in terms of the IT industry, companies that develop software (like Microsoft- Windows, Google-Gmail, Google Labs, Adobe- Adobe Flash Player, Photoshop) are known as IT product companies. These companies have their own Research and Development Centres where these products are developed through extensive research and analysis by software engineers.
The transition of India from a developing to a developed nation depends largely on its IT Product Companies as they can add the right kind of money to the economy at a faster and quicker pace using smaller man-power. So, these product companies can become one of the major contributors to the GDP of India in the near future and hence form a very important sector of the industry.
Types of Product Companies
There are various types of product companies based on the products developed and marketed by them
• Web based product company
The companies that have a website which is provided to the end user as a product are known as web based product companies. Majors include- Google, Facebook, Amazon
• Desktop apps development company
These companies are involved in the development of application/ software that run on computer systems. Majors include- Microsoft, Adobe
• Mobile apps development company
These companies develop application and games for smart phones. Majors include- Ovi (Nokia), Rovio
Which are the Preferred Engineering Branches?
• Computer Science/Computer Engineering
• Information Technology
• Electronics & Communication/ Electronics & Instrumentation
Motivation & Challenges
• Challenging Work
The work done in an IT Product Company is more challenging as it requires innovation and out of the box thinking in creating a new and unique product or even adding a new feature to its existing product. IT Product Companies have to think of the problem itself and then find its solution to remain competitive in the market and keep its product ahead of others in the same segment. The ongoing tussle between Google and Facebook to outdo each other in the web space arena is one such example of the high level of completion existing among the product companies. But IT Service Company works on a fixed problem which is clearly outlined by the client it is servicing.
• Money Matters!!!
The unsaid but the most common reason for most of the job changes is the pay package. IT professionals in the product companies are amongst highest paid in the industry.
• Growth Path
The Product companies have a lot to offer in terms of growth opportunities. Apart from Project manager, one can join the Product Management/ Marketing/ Business Analysis team, which opens new avenues.
Having seen all these benefits, it’s disheartening to see a downside. However, unless one is extremely devoted to the IT industry, joining a product company may be overwhelming.
• Minimal Client Exposure
The client exposure in a product company is very limited. The product is developed first and then marketed and hence there is no client interaction at the time of development.
• Do you always dream of solving complex technical problems?
• Are you a techie or a regular follower of technical blogs?
• Is coding your passion?
If yes, then these product based companies are waiting for you!!!