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Sales or Market Driven Product Management

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Sales or Market Driven Product Management

  1. 1. Sales or Market Driven Product Management?LEVERAGING NEW MARKET OPPORTUNITIES FOR SUCCESS ! Peter Dye. Technology Professional 2011
  2. 2. Summary In order to succeed in the long-term, all product and services based companies must be customer/market driven, while fully realizing the market potential. It should be no surprise that understanding of customers’ needs/requirements is the main differentiating factor between successful and unsuccessful products or services.
  3. 3. What does a Product Manager do? The Product Manager is responsible for: - Managing the product lifecycle - Product strategy, including Communication - Product development priorities - Product release plans - Gathering and prioritizing product and customer requirements - Defining the product vision. - Increasing the profitability of existing products - Fostering Innovation for products
  4. 4. Product Manager and Stakerholders The Product manager must communicate - With sales, marketing and support to ensure revenue and customer satisfaction goals are met. - With product marketing supporting Corporate Strategy and goals. - Product vision in context with the Corporate Strategy - Product Roadmaps - Product Release strategy - All Internal and external stakeholders.
  5. 5. Advantage of being sales-driven The advantage of being sales-driven - Ideal for emerging software companies - There is nothing wrong with being sales-driven - Fulfilling Individual customers needs - Lower risk, there are always business opportunities - Can be used as a survival mode tactic if market segments start deteriorating - Works in a chaotic market which prohibits targeted marketing programs. - Can be perceived to be ‘Agile’
  6. 6. Disadvantage of being sales-driven Disadvantage of being sales-driven - Inherently a short-term approach that does not build highly- sustainable product lines, support cost not sustainable. - Re-active approach to customer requirement/needs - No sustainable product lines it is hard to build market leadership and promote. No ‘Commercially Of The Shelf’ (COTS) products - Organic company growth is not predictable - Planning becomes ‘best guess’ - The eventual outcome of a sales-driven approach in high-tech companies with too many product versions, too few customers - Sales-driven strategy leads to resource duplication, loss of distinctive competence, and in consistent product roadmaps.
  7. 7. Advantage of being market-driven Advantage of being market-driven - Pro-active, innovative and disruptive product management strategy - Sustainable product lines building market leadership. ‘Commercially Of The Shelf’ (COTS) products market-driven product helps establish market leadership - Fewer product versions with many customers - Predictable revenue growth, plan for success. - Enables customer and market centric product development - Experience has shows that growth is delivered to those who invest in market-driven product management
  8. 8. Disadvantage of being market-driven Disadvantage of being market-driven, - A longer-term approach that can frustrate sales teams - Sustainable product lines require higher investment with best practice life cycle management. - Product planning can be perceived to be slow - Requires a more mature organisation
  9. 9. Conclusion Emerging products are more agile & able to make game changing innovations, more suited to short term Sales Driven tactics to increase revenue for additional funding. Market/Customer Driven strategy allows planned introduction of technology futures enabling new market paradigms to be created or penetrated..
  10. 10. Sales or Market Driven Product Management?LEVERAGING NEW MARKET OPPORTUNITIES FOR SUCCESS ! Peter Dye. Technology Professional April 2011
  11. 11. Appendix
  12. 12. References Pragmatic Marketing – Steve Johnson Research of Rajesh K. Tyagi And Mohanbir S. Sawhney