"Program managers (PMs) work with
"Program managers (PMs) work with the team to define the product's vision, goals, marketing requirements, development requirements, and core features." - Microsoft Jobs
I like this definition. It's a nice description for what many "Application Developers" or "Programmers" do in reality--far more than just coding for x hours per day.
As my colleague Syam said to me the other day, "Programmers are the secretaries of the 21st century." A bold statement, and post-dotcom-boom, I agree with his sentiment. Three years ago anybody who had a one-year web-programming certification course was a "Programmer". The title is becoming meaningless as time goes by, so it's important that you classify the work you do appropriately. You never know when you'll need to dust off the ol' resume.