Explain how product management techniques are used to manage the process of a product development
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ProductManagementOverview_directions.docxMaverick Auto Company was established in 1968 in Dearborn, Michigan, by three former GM employees. Their mission was to be a small, nimble auto brand that could respond to the needs and wants of their customers. They are a niche brand in the auto market but have a loyal customer following. Their specialty is all-wheel-drive sedans and crossover SUVs. Below is a matrix of the basic information related to their current product portfolio:
|
Model |
Maverick Sprinter |
Maverick Descent |
Maverick Legend |
Maverick XKR |
Maverick CrossTracker |
|
Car Type |
2-door coupe |
4-door small car |
4-door sedan |
4-door extended hatchback |
4-door crossover SUV |
|
Years on the market |
25 |
30 |
15 |
10 |
3 |
|
Years since last redesign |
15 |
12 |
8 |
5 |
3 |
|
Percentage of Maverick's sales |
7% |
18% |
27% |
34% |
14% |
|
Submarket category |
coupes/sports cars |
4-door small cars |
4-door sedans |
hatchbacks/wagons |
crossovers/small SUVs |
|
# of total cars in category |
36 |
78 |
78 |
28 |
55 |
|
This year's sales position in category |
30 |
37 |
23 |
8 |
42 |
|
Last year's sales position in category |
28 |
36 |
24 |
11 |
48 |
|
Next year's projected position in category |
34 |
38 |
23 |
5 |
35 |
|
MSRP |
$14,999 |
$18,999 |
$22,999 |
$25,999 |
$28,999 |
|
Seating capacity |
4 |
5 |
5 |
5 |
5 |
|
Fuel economy (city/hwy) |
28/38 |
24/33 |
22/31 |
22/32 |
20/21 |
|
Luxury level (1 is basic, 10 is high luxury) |
2 |
4 |
4 |
6 |
7 |
|
Available upgrades |
Leather package |
Leather package, chrome wheels |
Leather package, chrome wheels, upgraded stereo system |
Leather package, chrome wheels, upgraded stereo system, tinted windows |
Leather package, chrome wheels, upgraded stereo system, tinted windows, plug-In hybrid package ($6,800) |
You have been brought in as a consultant to help Maverick Auto Company understand its product portfolio and present to stakeholders on how you intend to use product management techniques to manage their product development process. You will create a document that maps out the product life cycle from creation to launch. You will use a phase and gate map that visualizes each step for stakeholders, showing the process, ideas, and concepts in a timeframe appropriate for the product.
Then, using the research provided by the research team, determine which vehicle is in decline and should be replaced within the next five years.
The Maverick Market research team has provided the following insights into the current state of customer wants and needs:
· Customers are less interested in small coupe-style vehicles.
· Customers like the option to upgrade the engine system to include more fuel-efficient options, like a hybrid fuel option.
· Customers often think of Maverick as a good commuter car, good starter vehicle, or good second family vehicle to complement a larger vehicle.
· Maverick vehicles are popular in areas with adverse winter weather or frequent rain storms because of their all-wheel drive system.
· Customers like to be able to seat five passengers without feeling too cramped.
· Customers like the options to upgrade to a sport package, with front and side trim pieces, a rear spoiler, and a supercharged engine.
· Most car companies are coming out with crossover SUV models and very few sedan or wagon-style vehicles.
· There are very few smaller all-wheel drive model vehicles on the market.
· There are few smaller vehicles that come with the plug-in hybrid as an optional upgrade, rather than standard.
Directions
Deliverable 1: Product Analysis and Recommendation
Stakeholders have asked for a product analysis and recommendation to accompany your phase and gate map. This analysis should use product management techniques to inform product development recommendations.
· Stakeholders have asked you to conduct a product analysis on the five cars in Maverick Auto Company’s product portfolio. Using information from the product portfolio and customer needs, provide the following to your stakeholders:
· Your professional recommendation for which car is in decline and should be replaced in the next five years
· Explanation for your reasoning
· Use the customer research that has been provided in the scenario to help guide your analysis.
· Use at least three customer insights to justify your recommendation to stakeholders.
Deliverable 2: Phase and Gate Map
The phase and gate map is a product management technique used to inform product management decisions. Your stakeholders have asked you to support recommendations for each phase with examples. Consider how this informs your recommendations in the product analysis and recommendation that you created.
· Using what you have learned, complete the phase and gate map for the stakeholders of Maverick Auto Company.
· Use the template provided for you. (This template is provided for you in the Deliverables section.)
· In considering the company’s product portfolio, explain techniques you would recommend for product development.
· Techniques can include questions to ask, product prototypes, activities, etc.
· For Gate 1, provide 5—10 different questions that would help screen various ideas.
· For Phase 1, provide 5—10 different techniques or activities that should take place determine if a product can move on to the next phase. You should also indicate which stakeholders are required for each technique or activity.
· For Gates 2, 3, 4 and 5, write 8—15 questions that need to be asked to help determine if product ideas should be moved on to the next phase.
· For Phase 2, provide techniques and activities to prepare a business case for stakeholders, providing 5—10 techniques to do so.
· For Phase 3, provide techniques and activities that will help the design and development of a prototype, providing 5—10 techniques for stakeholders.
· For Phase 4, provide techniques and activities to help test and validate the product, providing 5—10 techniques for stakeholders.
· For Phase 5, provide techniques and activities to help launch the final product, providing 5—10 techniques for stakeholders.
· For each phase, support your recommendations with examples and reasoning to justify the techniques you have chosen.
