The document discusses the role of product management. It begins by outlining the objectives and defining product management as finding and quantifying customer problems. It then discusses the key activities of a product manager, including managing the product lifecycle, specifying requirements, and developing go-to-market plans. The document emphasizes understanding customer needs through activities like developing a product roadmap and managing new releases. It provides guidance for when companies should consider hiring a dedicated product manager to help achieve strategic goals.
3. Product
Development & Services
solve the problem
Promotion
Marketing Communications
communicates the solution
Place
Sales Channel
sells it profitably
Price
Sales or Marketing
sets the value
Product Management
finds and quantifies the problem
The 4 5 P’s
5. Product Manager Job Description
• Managing the entire product line life cycle from strategic
planning to tactical activities
• Specifying market requirements for current and future
products by conducting market research supported by on-
going visits to customers and non-customers.
• Driving a solution set across development teams (primarily
Development/Engineering, and Marketing
Communications) through market requirements, customer
stories, and positioning.
• Developing and implementing a company-wide go-to-
market plan, working with all departments to execute.
• Analyzing potential partner relationships for the product.
9. The Product Manager’s
Top 3 Activities
• Voice of the Customer
• The Product Roadmap
• New Releases / New Products
10. The 20 Commandments
1. Your opinion, although interesting, is irrelevant.
2. The answer to most of your questions in not in the
building.
3. The building is full of product experts. Your
company needs market experts.
4. An outside-in approach increases the likelihood of
product success.
5. Market problems determine what goes into the
product.
6. Only build solutions for problems that are urgent,
pervasive and the market will pay to solve.
Voice of the Customer
11. The 20 Commandments
10.Every “product” needs product management
and a business plan.
11.In the absence of market facts, he who builds
the product wins.
12.If product management doesn’t do its job, the
other departments will fill the void.
Voice of the Customer
12. The 20 Commandments
13.Be able to articulate your distinctive competence.
14.Find market segments that value your distinctive
competence.
15.Map your sales process to the buying process.
16.Product Management should help sales channels,
not individual salespeople.
17.Don’t expect your sales channel to conduct
win/loss analysis.
Voice of the Customer
14. The Product Roadmap
• Goals for upcoming releases
• Tentative, not a promise
• Often divided into releases and themes
– New features
– 3rd
party component support
– Bug fixes
– User experience vs backend technology
• Based upon the Product Backlog
Product Roadmap
17. The Product Roadmap
• Discipline required
in order to
• Avoid Scope-creep
so that you can
• Meet targeted release date
Product Roadmap
18. Gate Review
A “need to have” not a “nice to have”
Development Professional
Services
Customer
Support
Marketing Sales
RC Ready Test Systems Test Systems Collateral
updates
Sales Training
QA Testing Knowledge
Transfer
Knowledge
Transfer
Website
Updates
Channel
Training
Alpha/Beta
program
Training Course
Updated
SW download
site updated
E-mail
notifications
FAQs & sales
support docs
Documentation Press Release Demo systems
GA Release Newsletter International
Min. Hardware Busn.
Processes
Software
Escrow
New Releases/Products
19. In Closing
• Product Management is a strategic activity
• High doses of process and project management
• Formal position in larger companies
• Methodologies can be used in smaller firms
• Adaptable for consulting and service firms
20. When is the right time to add a
Product Manager?
• Proactively instead of Reactively
• When poised for growth
• Once you add the role, LET GO, and let the
person do their job.
CEOs: It’s OK to let go.
21. In the meantime…
• Training seminars
( www.pragmaticmarketing.com)
• Part-time Product Manager
• Product Management Consultant
Mission / Vision Customer knowledgebase
Go-to-Market Strategy Sales knowledgebase
Business Case Customer survey program
Gap Analysis / SWOT Profile Enhancement database
Product Roadmap E-mail campaign program
Gate Review process Sales Tools
As the CEO of a technology company you have a great deal to think about:
customers, product development,
marketing, supporting customers, professional services,
the competition, and sales… to mention a few.
On top of that you add the finances, expanding the business, and a whole lot more.
One of the reasons I, as a product manager, attend this CEO roundtable is because I think about a lot of these are the same things. It’s my job to do so.
A product manager is sometimes thought of as the “President of the Product”, because of his overall responsibility for the lifecycle, success, and profitability of the products for which he is responsible.
I’d like to take you through an overview of the role of the product manager. This is to acquaint you with the process and methodology that he uses to do his job.
[Read these three objective]
Not all software companies are at the point where they will hire a product manager.
All companies will benefit by utilizing the
methods, principles, and processes
that a solid/formal product management methodology has to offer.
Some of you here today run other types of businesses, rather than software companies:
consulting, services, marketing, etc.
As you listen to what I talk about here, think about your company. Because even if you’re not developing a “product” that you can touch or install, you’re services and other offerings are really “products”, too.
As Product Manager, you will guide a team that is charged with a product line contribution as a business unit.
increasing the profitability of existing products
developing new products for the company.
You will build products from existing ideas, and help to develop new ideas based on your industry experience and your contact with customers and prospects.
You must possess a unique blend of business and technical savvy;
a big-picture vision, and
the drive to make that vision a reality.
You must enjoy spending time in the market to understand their problems, and
find innovative solutions for the broader market.
You must be able to communicate with all areas of the company.
Engineering: to define product release requirements.
Marketing communications to define the go-to-market strategy, helping them understand the product positioning, key benefits, and target customer.
Serve as the internal and external evangelist for your product offering, occasionally working with the sales channel and key customers.
A product manager's key role is strategic, not tactical. The other organizations will support your strategic efforts; you won't be supporting their tactical tasks.
These areas and activities can be categorized in several dimensions, ranging between the strategic and tactical, as well as between the less technical and more technical.
They can also be broken down in another way: that which is strategic, that which is technical, and that which is marketing-related.
While your business may not be at the point where a full-time Product Manager is possible, all of the activities on the matrix should be accounted for. These responsibilities can be distributed to responsible individuals in the company. And that makes sense. After all a product manager doesn’t actually DO all these activities. He/she does some, and oversees others. Some activities, Marketing for example, are handled by a marketing individual.
The product Manager is responsible to see that all these activities are getting done.
The biggest challenges or responsibilities for the Product Manager are:
Representing the voice of the customer.
Bringing a new release or new product to market.
The Product Roadmap
One way to accomplish a set of these is the Gate Review, which is a “play book” that is used to prepare the organization for the release.
The biggest challenges or responsibilities for the Product Manager are:
Representing the voice of the customer.
Bringing a new release or new product to market.
The Product Roadmap
“No”
“Not Now”
“I need more justification”
Resist the “one off” for a single customer if it doesn’t make sense for others.
Proactively vs reactively: Usually a company will add the PM role reactively, rather than proactively:
there’s a problem,
the existing process is screwing up:
releases are way to late,
we built a feature that’s a one off (we thought we had it right!)
And what about in the meantime? Just as there are interim “part-time” CEOs and other senior roles, is there value in engaging the services of such a Product Manager to help put some of the strategic framework in place?