Product Management is not about satisfying customer needs and wants. Product Management is about ensuring business goals are met and business success delivered.
Now don’t get me wrong. I certainly believe in addressing market needs and driving customer satisfaction. That is definitely a great way to achieve business goals. But keep in mind that addressing customer needs etc. are a MEANS of achieving an END, not an END unto themselves.
We don't want customers to define our products; we want customers to inspire our products. And why? Read Saeed's article for more.