by John Mansour |
07.30.2009
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If your organization is doing product management at a product level it may not have the desired impact on your top line.
Why?
In short, the functionality of each product may not mirror the tasks and work processes of your target customers on a broad enough scale and you lose the opportunity to deliver closed loop solutions with greater impact – ones that command a higher price point.
Product Management: Solutions Approach vs. Product Approach
- Instead of analyzing only the horizontal markets for each product, first analyze the vertical markets of your target customers across all product lines collectively to understand the macro market dynamics driving their business strategy from the top down.
Then determine the relevance of trends in each product category and their strategic impact to your target customers.
- Instead of creating a strategy and product roadmap for each product, create a single strategy that prioritizes target customer market segments and support it with a single strategic product roadmap that represents closed loop solutions from a customer perspective instead of feature priorities for each product.
The solution definitions will drive the product priorities across all products by default.
- Instead of determining development scope for each product, first determine the priority of the problems or customer scenarios being addressed in any given project, then determine the features required across products to create the solution.
This ensures tight product integration where necessary and enhances product usability.
A computer and LCD projector from the same manufacturer should work seamlessly but they rarely do.
- Instead of training sales, services and support on products, first train them on the work processes of your customers and the criticality of those processes to the overall business.
Then train them on aspects of the products that form the solution.
Benefits will be blatantly obvious.
- Instead of creating sales and marketing materials for each product, create them for key work processes of your target customers.
Buyers ultimately buy your knowledge of their business.
Products are merely the proof point.
If you want to learn product management that delivers higher impact solutions to drive more revenue, sign up for Product Management University .
You’ll walk away with a framework and deliverables that everyone will understand and follow.
Take advantage of our 2009 price incentive and attend Product Management University
public workshops in locations across the USA for just $995 (normally $1495).
No one makes product management easier than ZIGZAG Marketing.
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Last Updated ( 07.30.2009 )
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