Product developement
Summary from last class
As a discipline, product management provides managerial focus to products and brands as profit-generating systems
Product life cycle
7 steps from Conceiving to Retirement
Value proposition of product management
Increased probability of success in the market
Summary (contd.)
2 models of management
Upstream
Downstream
Structure
Varies by size of the company
What does a Product Manager do?
Product Manager
Responsible for managing 1 or more products
Ensure optimal balance between customers’ needs and the organization’s capabilities
PMs cover the entire lifecycle
7 distinct steps
Concieve
Plan
Develop
Qualify
Launch
Deliver
Retire
Product Manager
Sales
Competition
Third Party (eco system)
Consumers
Marketing
R&D
Finance
Customer Service & Support
Other
Internal
External
Market facing
“The Firm”
6
Video: What do Product Managers Do?
Summary of the video: Role of Product Manager
User and market intelligence
Understand the market, competition
Business strategy
Tie the product to company’s business model
User experience design
Vision, user flow, blue-print prototype
Product development
Build the technical product
Analytics and growth
Launch, deliver and sustain
Engagement between the teams
| Conceive | Plan | Develop | Qualify | Launch | Deliver | Retire | |
| Research & Develop-ment | |||||||
| Marketing | |||||||
| Manufactur-ing |
Product Management
Role of Product Marketing Manager
Defines and manages product image in the market
E.g. Product announcement, building customer awareness, supporting the sales team
Defines the product “promise” and ensures its successful execution in the market
E.g. Managing product launch, conducting sales training etc.
Defines the product requirements
Also provides customer feedback
Case study: Product Ownership at Intel
Centrino™ development and launch
Case study: Product Ownership at Intel
Centrino = Microprocessor + WiFi component
Integration challenges
FCC guidelines, different development team, culture
Hot spot verification
Across US
Across the world
Result = successful intro in 2003
Hot spots now a “standard”
Summary
Role of product manager = optimal balance between _______ needs and ________ capabilities
Summary (contd.)
Responsibility of product manager = manage the product throughout its lifecycle
Deliver to the _______ promise
Product Marketing Manager’s role/responsibility
Defines and manages product _____ in the market
Defines the product “promise” and ensures its successful execution in the market
Develops _______ & provides customer ______
Questions?
Summary
Role of product manager = optimal balance between customer’s needs and organization’s capabilities
Summary (contd.)
Responsibility of product manager = manage the product throughout its lifecycle
Deliver to the brand promise
Product Marketing Manager’s role/responsibility
Defines and manages product image in the market
Defines the product “promise” and ensures its successful execution in the market
Develops customer requirements & provides customer feedback
Sigmoid Curve
timeProgressLearningPhaseGrowthPhaseSaturationPhaseDeclinePhase
Sigmoid Curve
time
Progress
Learning
Phase
Growth
Phase
Saturation
Phase
Decline
Phase