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Reference Pricing

The Product Bistro

An insight into why this works is the concept of “ Reference Price “ This is where the consumer has some institutional memory of what they have paid for a good in the past, and when shopping for similar goods, keeps that “reference” in mind. But almost as important is to maintain a similar reference price in the face of systemic inflation. First to 1.75

10 Tips for Creating an Agile Product Roadmap

Roman Pichler

Whenever you are faced with an agile, dynamic environment—be it that your product is young and is experiencing significant change or that the market is dynamic with new competitors or technologies introducing change, you should work with a goal-oriented product roadmap, sometimes also referred to as theme-based. 1 Focus on Goals and Benefits. 2 Do the Necessary Prep Work. 4 Keep it Simple.

Scaling the Product Owner Role

Roman Pichler

The strategic role is often called product manager and the tactical one is referred to as product owner. Scaling and the Product Life Cycle. To understand if and when the product owner role should be scaled, I find it helpful to consider the product’s life cycle stage. At this stage, effective decision-making is paramount. Scaling Option 1: Feature and Component Owners. The product manager.

The Product Roadmap and the Release Plan

Roman Pichler

I use the term major release to refer to a version of your digital product that introduces a noticeable change, for instance, by adding or optimising functionality or enhancing the user experience, and it typically results in a new product version—think of Windows 10 or iOS 9.3, What is a Release Plan? A release plan forecasts how a major release is developed. for example. Artefact.

Tactical. Operational. Strategic. The Three Rungs on the Product Management Career Ladder

UserVoice

In B2B product management, tactical, operational and strategic refer to layers in the customer organization – not your job responsibilities. Before your mind wanders too far, let’s set the record straight. Master each of these customer domains and the next rung on the product management career ladder awaits. Source. Product Management Product Management Process

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Building an API that Developers Love

Mind the Product

The API builds the frame of reference and lets us understand each other. Maxime Prades (Director of Product at Zendesk) takes you through the experience of building a platform at Zendesk and being part of an API-first company. He opens his talk by describing the clear value that Zendesk’s APIs are providing to their customer accounts and the business. Why have an API? Make it usable.

Optimal Product Process Poster for Sale Now

280 Group

Implementing and referring to a proven Product Management framework will help keep a team all on the same page, prevent tasks from slipping through the cracks, and limit critical mistakes. After receiving many inquiries about them over the years, we at 280 Group are now officially selling Optimal Product Process (OPP) posters. Learn more about the importance of a Product Management.[continue

Product Management for Dummies

Product Bookshelf

Product Management for Dummies begins with a list of product management benefits including: delivering products that do a better job of meeting customer needs, increasing revenues and profit, creating happy customers who become reference customers and participate in case studies which increase awareness, and capturing and owning markets due to strong product strategy. The Whole Product.

Books 33

Decision Time: How Decision Rules Help You Make Better Product Decisions

Roman Pichler

Note that in the picture, I use the term product manager to refer to the person in charge of the product. Decisions, Decisions. “Is Is everybody OK with changing the release goal for Q3?”, asks Julie, the product manager. After a few seconds of silence, Julie moves on to the next topic assuming that the stakeholders agree. But most people are still thinking about the idea or oppose it.

Climbing the Product Management Career Ladder

bpma ProductHub

In B2B product management, tactical, operational and strategic refer to layers in the customer organization – not your job responsibilities. Contributed by John Mansour. Before your mind wanders too far, let’s set the record straight. Master each of these customer domains and the next rung on the product management career ladder awaits. Tactical – The Surrogate User/Job Expert.

Let’s Fire a Few of Our Customers

Mironov Consulting

Look above the fold on your home page to see what you’re telling the world.) Our best customers are generally getting value in ways we expected, applying our product pretty much as suggested, and might be sales references for new prospects. More is better, and much more is much better. Up and to the right! So every prospect is strategic. But not all customers are created equal. Sound Byte.

The life of a Product Manager – Learning by Doing

Mind the Product

Osama’s team decreased churn rate not by changing the product but by removing the reference about the experience of the internet from the marketing communication. Osama Hanif (Digital Solutions Manager at Telenor) launched the first digital agency in Lahore and went on to join Telenor Digital. Plan for improvisation. Launch as soon as possible. Marketing should not be an afterthought.

Minimum Valuable Problem

Tyner Blain

When people talk about “the product,” in my experience, everyone in the room will happily carry the conversation forward, each referring to “the product” with no one clarifying precisely what they mean. Defining and building a good minimum viable product is much harder than it sounds. Solving for both the outside-in needs and the inside-out goals is critical.

Three Superpowers of a Product Manager

Mind the Product

List the features that you plan to develop so that stakeholders can refer to them and have an overview how many resources you need to deliver the strategy. As a product manager it’s not uncommon to feel pulled in a million different directions as you work to meet the needs of your customers, developers and company stakeholders. Communication Powers. Stakeholder Meetings. Retrospectives.

The Challenge of Managing – and Communicating – Customer Insights

Mind the Product

Cross-reference user tracking data against the opinions expressed in user research. When developing products, customer insight is vital to understanding the critical question: where are we going? But insights too fall into our cultural condition of excess. But synthesising information into insight is an art form and an exercise in restraint. Alter the Egos. Size Up Your Sources. apps).

Vision vs. Strategy

svpg

It might be in the form of a story board, or a narrative like a white paper, or a prototype (referred to as a “ visiontype ”). As soon as we demonstrate product-market fit for a new market (usually by developing an initial set of reference customers , the sales force can go out and find more customers in that market. The first is market sizing (usually referred to as “TAM” - total addressable market). NOTE 2: Some people refer to the product strategy as the “vision roadmap.” Overview. Product Vision. Product Strategy. Notes.

On Being a Pragmatic Marketing Instructor

Product Beautiful

” I often get emails from alumni of our classes years later, who tell me that I taught their class long ago, and they still use what they learned, and that they carry their tattered books around as reference manuals and clutch their Pragmatic Framework tight to their chest as a Rosetta Stone for their jobs. Key Learning: Why kind of person are you? It’s enlightening and fun.

How Minimum Viable Products & Features Helped Me Write My New Book

Roman Pichler

It’s sometimes also referred to as a feature-fake or experimental feature , a partially implemented feature that is good enough to test if people would want to use it. Minimum Viable Product #1. Writing a book is a complex and at times challenging endeavour: it took me over two years to write and publish my latest book. Using an MVP helped me address this challenge. Minimum Viable Features.

Let’s Stop Talking About Human Error: It’s Your Product

Mind the Product

Alan Cooper refers to “error-inducing design”, which is design that basically encourages error because it fails to consider human limitations. What if I said that there was no such thing as human error, only poorly designed products? Ok, park your pitchfork. Let’s approach this slowly, starting with Emma. It’s pay day in the small firm and hope is running high. The area goes quiet.

Fighting Shiny Object Syndrome

Product Powers

What the startup CEO sees as responding with agility to opportunity, the product team secretly refers to as “shiny object syndrome.” Brenda rushed over from her desk in the sales pit. She was clearly excited. She’d uncovered an opportunity to partner with a local firm that would distribute our free demo to a few thousand of their customers and she was convinced it would be an easy way to generate a lot of new business quickly. It was nearly free marketing, right? I said no. We’d run the numbers and it really wasn’t a profitable go-to-market approach.

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It’s time to get your Ph.D. in Sales Comp

Product Beautiful

Many people refer to Sales as “coin operated,” by which they mean that Sales operates in whatever way will help them get the most coins. A few years ago, I was working for a large company here in Austin. This company had recently acquired a series of software startups and was attempting to integrate them into their larger hardware portfolio. Then, everything went wrong. And you know what?

Launching Products – Paul Yokota (ProductTank NYC)

Mind the Product

Paul goes on to reference the resource triangle, stating that scope, schedule, and resources are all inextricably linked. Paul Yokota talks to ProductTank NYC about the process of launching products and discusses the many associated challenges, reflecting on the challenges he faced when launching Animoto’s Marketing Video Builder app. Launching Products – V1 Products is Different.

How to Deal with “Sinatra” Stakeholders

Folding Burritos

A very common kind is what we may refer to as the ”Sinatra” stakeholder. First, vertical aligment refers to how the organization’s Strategy is communicated to and accepted by its People. We’re part of a larger team and that means interacting with a broader group of people with direct or indirect interest in the product: our stakeholders. The Cause: Misalignment. Rosansky.

Five Essential Steps for Getting into IoT Product Management

Mind the Product

Rather, I’m referring to companies that provide professional services to take customers through the last mile of their implementation. For reference, some of the industries in which IoT is having the biggest impact include (in no particular order): Smart homes. You want to get into IoT product management, but where do you start? What skills do you need? Device software. Energy.

Moving from Solutions to Problems

Folding Burritos

However, this point refers to the former kind of problems. ↩︎. People from all over the company come to you with feature requests and ideas. From minor things like UI tweaks to major ones like a new Search feature. Depending on how pushy and persistent stakeholders are in support of their feature, you might be forced to eventually let it through. Once this happens, expectations are set. “My

Why a Release Isn’t a Launch

Under10 Playbook

We want to get a few early-adopter customers to put the product in production so we can have success stories and references to use when the product is available to all of our customers. Companies that target their products at the circumstances in which customers find themselves, rather than at the customers themselves, are those that can launch predictably successful products.—Clayton

Pricing Foundations

The Product Bistro

If you interact with finance teams, they often will refer to the marginal contribution, and this is what they are implying. This is often referred to as overhead, or plant and fixtures. One topic that seems to trip up both new and experienced product managers is the process of pricing. As a recent post highlights, the most important lever we have in our bag of tricks to influence the profitability of our products and business, is the price. Yet, establishing a good price, and holding variance to a minimum is a top concern of the product management function. CM = P - V.

Product Management is Culture Management

Mind the Product

References. Or “ How to Manage Software Development in Teams who Think Nothing Like you “ Product management has two diversity problems. The first one is well-acknowledged: our industry must have more women, other ethnicities, and better representation from LGBTQIA. The World is Flat. Our current reality is vastly different from what we’ve seen even 10 years ago. I certainly do.

Organizing a Large Product Backlog

Folding Burritos

We can start out by considering a large product backlog to be something that has both Length and Width : Length refers to the amount of things to do (and the classical list shape); Width refers to the different product areas, modules or initiatives it encompasses. Trying to organize a large product backlog is a tough thing to do. Duplication abounds. A self-inflicted problem.

How to Take Notes During Customer Research Interviews

Product Talk

It also gives me a handy outline to refer back to when reflecting back what I heard. For those of you following along, I’ve been conducting interviews to understand the life of a product manager. If you need to catch up, you can see my initial call for participants here and my breakdown of how I am selecting participants here. To Record or Not. So it felt unnecessary. – Tweet This.

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Playing Whack-A-Mole With Risk

Tyner Blain

And eventually, the whack-a-mole reference will make sense. Assumptions are interesting things – we all make them all the time, and we rarely acknowledge that we’re doing it. When it comes to developing a product strategy – or even making decisions about how best to create a product, one of these assumptions is likely to be what causes us to fail. Being Wrong.

Understand Your Power To Claim Your Value (Part 2 of 3)

bpma ProductHub

In the previous post, we identified the seven sources of power and highlighted that enduring and authentic power emanates from referent, expert, and connection power sources. Referent power grows when your actions and beliefs are in concert. What people will remember is that you are well-studied in a subject matter (expert power) and that you present your viewpoints well (referent).

Progress, Not Products

Product Bookshelf

The title of the book refers to the idea that success with innovation is frequently characterized as primarily governed by luck. Use empathy and active listening to discover “jobs to be done”, the progress customers want to achieve in specific circumstances in their lives. Jobs provide the causal factor to explain why customers choose one product over another. Finding jobs.

You Won’t Believe What These Five Lenses Can Show You About Your Product

Tyner Blain

Steven Haines wrote The Product Manager’s Desk Reference , and from ( the first edition of ) his book I learned about the product strategy grid. Fundamentally, product management requires you to assess, synthesize, and prioritize the needs which drive the creation of your product in the context of three main objectives: desirability, viability, and feasibility. Really works.

Change or die: what big business can learn from start-ups about internal innovation

Mind the Product

To date, innovation is often left to a chosen few inside labs or incubators, often referred to as the Skunk Works Model , instead of empowering employees throughout an organization to identify and pursue projects beyond the existing business model. What’s the single key advantage that start-ups consistently hold over big businesses? Start-ups have to be agile to survive. Staying alive.

What Makes People Do Extraordinary Things?

Mind the Product

Within the innovation space, this difference is referred to as being between Exploitation and Exploration. What is the difference between Extraordinary and Excellent? Excellence is about doing what everybody else is doing, but doing it better than those people. All of this is done whilst operating within societal or business norms. How do you get to Extraordinary? You’re a pathfinder.

The Alternative to Roadmaps

svpg

A team is typically referred to as a “squad,” which is intentionally small and largely autonomous, working under the common intent , but free to solve problems as they best see fit. I have always loved the General George Patton quote: “Don’t tell people what to do; tell them what you need accomplished, and you’ll be amazed at the results.” ” Unfortunately, typical roadmaps do just what the General warned against – they tell the team what to do. In this article, I’d like to try to tackle this.

Roadmap Alternative FAQ

svpg

Outcome-based roadmaps refer to stating the outcome you are trying to achieve rather than the specific feature that may or may not deliver the necessary results. This is very much what I am referring to here, with two differences, one substantial and the other more cosmetic. There was some confusion recently because Jared Spool published an article where he actually makes the case very well for outcome-based roadmaps, but for some reason he refers to the outcomes as “themes." In my prior article I discussed my favorite alternative to conventional product roadmaps.

Product Success

svpg

This starts with a clear and compelling product vision, and a path to achieving that vision, which is referred to as the product strategy. Exactly a year ago I was invited to give a keynote at the Craft Conference in Budapest and I discussed the 10 biggest reasons why product teams fail. You can watch that talk here , or read the narrative article here. Last week I delivered that talk, and this article is a narrative version. If you prefer to watch the video (1 hour long), you can find the presentation here. CONTINUOUS DISCOVERY AND DELIVERY. KEYS TO SUCCESS. Empowered Product Teams.

A Product Manager’s Approach To Finding Love Online

The Accidental Product Manager

The most common of these problems is what is called “congestion” Congestion in this context refers to a bottleneck that shows up in a system of exchange. Love can be tricky to find online – unless a product manager helps out Image Credit: Moni Sertel. Let’s talk about love, shall we? Perhaps we can use our product management skills to discover how to do this correctly?