Domain Expertise and Functional Expertise
Domain Expertise is knowledge in the technical and business aspects of the product, industry, market, and technology.
Industry knowledge, a person's workplace and career experience in a particular field constitute domain expertise.
For example, this is akin to being an expert in software, networking, storage, cellular, etc'.
Product managers MUST have domain expertise built through prolonged experience and continuous learning.
Product managers need to know what the market needs, not what customers want; otherwise, they cannot make sound product decisions.
Many companies focus and hire employees for their domain expertise.
But often overlooked by employers is functional expertise.
Functional Expertise is the ability to use tools and execute techniques, processes, and tasks that create winning products.
Functional expertise, which means correctly using tools, understanding product management methodologies, knowing and managing complete product management processes, is where many product managers who have domain expertise must improve.
The Blackblot Strategic Product Management™ training program teaches functional expertise according to the Blackblot PMTK™ Methodology.
Ultimately, to be an effective product management professional, you must have BOTH domain expertise and functional expertise.