Final answer:
Project stakeholder management is a crucial aspect of a project manager's role, requiring them to engage with and manage the expectations of customers and clients who are stakeholders in a product launch.
Step-by-step explanation:
When a project manager is overseeing a product launch and meeting with customers and clients, a key element of their role is project stakeholder management. This involves identifying all stakeholders, understanding their needs and expectations, and ensuring their involvement and buy-in throughout the project lifecycle. Stakeholders can include customers who will use the product and pay for it, government agencies, companies, and individuals who have an interest in the product. The project manager is responsible for the process and outcomes, and must possess strong communication skills to successfully navigate stakeholder relationships and convey project results.