2. What is a Product? A good or service which can be bought or sold Anything that can be offered to a market that might satisfy a want or need Has 3 dimensions: Core product – Benefit or core advantage Actual product – Physical characteristics Augmented product – Post-purchasing support and services 2
3. What is Product Management? Activities performed to: Define market needs and product pricing Plan and specify product requirements Review and approve design elements thataffect market acceptance Oversee product quality Promote the product 3 Marketplace Internal Stakeholders Product Engineering Product Management Customer Support
7. Software Product Management Usually combines Product Planning and Product Management disciplines Key duties: Solicit product requirements from all stakeholders Develop product release roadmap Produce software requirements specification Approve product design Manage product scope Insure product quality Authorize product release 7 Actor2 Actor 3 Use Case 1 Actor1 <<Includes>> Use Case 2 <<Extends>> Use Case 3
8. Product Management Benefits Insures product is market-focused Coordinates stakeholder needs and issues Arbitrates competing priorities Provides lifecycle planning Plays the role of “User” Is accountable for product success Market acceptance Profitability Competitiveness Customer satisfaction 8