Product Management Library of Knowledge
Creating a Compelling Product Business Case Q&AAnswers to questions raised during the recent webinar, Creating A Compelling Product Business Case with Demand Metric. Questions and answers cover best practices for the timing, intention, multiple products and creating buy-in across the organization.
The Heart And Core Of Super Customer ExperienceThink of the customer's view at every moment from design of products and services to the sales and follow-up care. What will their reaction be? Let this approach guide all your design efforts. Let it shape your redesigns to keep pace with a changing customer demographic. Remember, the customer experience is from the outside in to your company -- not from the inside out!
Why Do Products Fail?Why do products fail? Trying to organize all of the reasons that your product might fail is a Herculean effort. Understanding how your product did, will, or might fail will help you focus on what you need to do next.
How To Disqualify A LeadA common reason for losing a deal is that the client was looking for something else but you tried to sell him anyway. Your internal process refused to disqualify the buyer. You ultimately lost a deal that you should never have pursued. And the most common process problem is a failure to disqualify.
Five Reasons Why Agile is LeanIn agile, each function has learning up front, a build in the middle, and a validation at the end. Since the customer typically has working software to experience the functionality, and is saying "yes" or "no" to each one as it's completed, it's less likely to need revisions later on. The customer validation after each new build increases leaning earlier in the process and makes the product more accurate. An accurate product gets traction faster, uses less resources and is lean.
Pricing is ... InformationPrice is more than just what the customer needs to buy your product or service. It is also telling the customer more about your offering. Take care that your prices are telling them what you want.
Getting Product Managers Up To Speed with New Software and ProcessesWhether it is Microsoft applications like Office, Visio or Project or other Enterprise applications used by their company, most of the time Product Managers are left to their own devices to learn how to use the tools that are critical for their day to day success. But as new applications become available that are more powerful and useful, it's important to give your team of Product Management professionals the support they need. This is even more critical if the software is integrated into your existing or new product processes that span across different functional groups in your company.
Prioritizing Features in Your Product ReleasesWhen working as a Product Manager with an engineering team one of the biggest challenges you face is prioritizing what features are critical to include in your next product release. One of the most popular techniques for prioritizing features in an MRD (Market Requirements Document) or functional specification is to use the HML (High, Medium, Low) method.
Four Critical Success Factors for Your ProductsJust build a great product and you'll take the market by storm, right? That's the myth perpetuated in Silicon Valley, and it's a difficult lesson that many entrepreneurs, and seasoned companies, end up learning the hard way. Sure, some products seem to have everything magically fall into place and succeed. The majority of successful products, however, have good planning and execution combined with a great product.
The Top Ten Things that Differentiate Successful Product Development Initiatives from Failed EffortsSource: The Study of Product Team Performance, 2012™ In January of this year Enterprise Agility and Actuation Consulting joined together to conduct a global survey of product team performance. One of the survey findings that did not make the white paper was based on the question "What characteristics do you believe differentiate your organization's successful product development initiatives from those that have struggled or failed?"
The Perfect Partnership: Product Management and Business Analysis (part two)By pairing business analysts with product managers at key points throughout the life cycle of a product's development, organizations can optimize bandwidth, expertise, and interest-related challenges that allow both roles to do what they do best - create value.
Challenges and Change provide a bonanza for Product Managers
Part 1: Identifying anomalies and converting them into business opportunities
©2011 by Karl Hellman and Robert S. Siegel
Part 1 of a 4 part series
We all delight in the legend of the entrepreneurial-hero--the genius who invents the new product that transforms the world as he or she is sitting in their dorm. And the world has indeed produced wonderful entrepreneur heroes, like Facebook's Mark Zuckerberg and Google's Larry Page and Sergey Brin.
7 Business Development Marketing Tips For Social Media
By Patrick Zuluaga
You have heard so many marketing experts telling everyone to use social media as part of their promotional marketing mix. The Internet is flooded with information on using Facebook, Twitter and other social sites. Numerous articles have been written on how using social media can help promote your brand image and how it can generate web traffic for your main business website.
The Fundamentals of The Product Information Management BenchmarkBy Sam Miller
The purpose of every business is to deliver the products that they have provided for their customers and then make sure that they offer only quality products. This will guarantee customer satisfaction and when their customers are satisfied with their products or services, they will become profitable. Basically, it is a chain in which there is a cause and effect relationship between the quality of the products and the satisfaction of the customers. In order for you to maximize product value, you should be able to gather the necessary data and compare the relevant ones to the results that you have acquired before and after the process. This is what you call the product information management benchmark.
Ethnography: Your Guide to Doing it Right
Ethnography: Your Guide to Doing it RightIntroduction
Over the past decade, ethnography has been embraced by the business community. But the term "ethnography" has been used fairly loosely and expectations about the work and final outcomes vary as much as the people calling themselves ethnographers. Many researchers who feel at ease interviewing people in a "natural" setting claim to be doing ethnography but this is often not the case. Trained ethnographers do more than talk with people--they rely on a set of analytical tools that take experience and specialized training. Before deciding to use an ethnographic approach to answer your research question, it is imperative to know what to expect from a provider.
Maximize Product Profitability as the Market Matures
Maximize Product Profitability as the Market MaturesBy Lee Shaeffer
An important role for the product manager (or for the product marketing manager, if that function is separate) is to obtain the maximum profit from a product during its lifecycle. There are many standard practices in maintaining a product when it is in the market: pricing adjustments, advertising and promotion, increasing penetration within the existing customer base, finding new customer segments, etc.A common practice is to release a follow-on product, often a feature enhanced/cost reduced "mid-life kicker" to keep the product competitive in the marketplace. These are all good and often necessary activities, but a commonly underexploited opportunity is to enhance the product by bundling complementary products and services in order to create and enhance the complete solution for the customer, not just the product itself.