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.

7 Ways of Creating and Sustaining an Agile Product Roadmap

bpma ProductHub

I define the term product to refer to a software application, system, device, service, or a combination that… Product Management Product StrategyBy Ellen Gottesdiener – Product Roadmaps Are Necessary for Product Success A product roadmap visually depicts how your product will evolve over time to realize your product vision and achieve continual value for your customers and business. (I

Understanding Scrum

280 Group

In Scrum, these are referred to as User Stories. Let’s start with a birds-eye-view of understanding Scrum. We’ll define the main phases of a Scrum project framework and explore each of these in detail later.

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.

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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. Contributed by Sarah McCrary.

Fake Sales at Top Retailers: The Power of Discounts

Pragmatic Marketing

This is one implementation of a concept called reference price. A reference price is simply the price the shopper believes the product should sell for. Reference prices are formed many ways. However, businesses are able to manipulate reference prices.

"Be a sponge". and other advice for the first 30 days of a new job

Product Manager in Heels

Starting a new job can be tough. I recently started a new job and some of the basic advice I learned years ago still applied. I figured I'd share the information living in my head, and also all over the internet: Your first day Wake up early and have a great breakfast, and dress for success!

The Power of Discounts

Pragmatic Marketing

Buyers have reference prices, the amount they expect to pay. When they find a price below that reference, they not only value the lower price, but they value the fact that it’s below their expectations. I wish everyone made decisions rationally.

Boston Women in Product

Product Manager in Heels

Group and Event Information: Purchase your tickets on Eventbrite Join our group on MeetUp Connect with us on LinkedIn References : [link] https://www.bostonglobe.com/business/2015/01/31/tech-hiring-there-demand-for-everything/oDBAAlKJOYuxTqHiX7uhUI/story.html

The Anatomy of The Product Brief

Product Manager in Heels

References: [link] [link] [link] [link] https://designschool.canva.com/blog/effective-design-brief/. With all of the Product Management roles I've held, it's been tough to get the Product Roadmap process just right.

The Art of Writing User Stories

Product Manager in Heels

should include design, and possible reference wireframes How are you at writing user stories? User stories are the currency with which Product Managers communicate and sell the business idea they are advocating for. They are one of the most important artifacts (other than the Product Roadmap) that a Product Manager creates. Here's some suggestions for crafting user stories: 1.

Customer Discovery Series Part III: Leveraging the Power of Influencing Without Authority

Product Manager in Heels

A few good references: The most underrated product management skill: influence without authority Harvard Business Review: Exerting Influence without Authority 5 ways for product managers to influence without authority Product Managers are not the CEO of anythingInfluence without Authority - it's one of the hardest things about being a Product Manager. Recently, Martin Erikkson wrote a blog post titled "Product Managers are not the CEO of anything".

Mentorship and expectations

bpma ProductHub

References: [1] [link]. The mentorship program at the Boston Product Management Association and how to make the best out of it. Why you might need a mentor in your life. Directing your own life can be equally exciting and daunting thing to do.

Power Up: Three Ways to Increase Your Product Leadership Power

Roman Pichler

Increase Your Referent Power. To boost your referent power, I recommend focussing on one virtue at a time and practicing it repeatedly—without expecting too much too quickly. Your first power source is your ability to influence others based on your personality and interpersonal skills.

Product Owner vs Product Manager: Worry About Outcomes not Titles

Mind the Product

In general, when referring to these responsibilities the two roles are completely interchangeable. When I worked at Pivotal Labs, an Agile shop, we referred to our client sponsor as the product owner. They could also be referred to as the business owner or more generally the key stakeholder.

Vision 180

Pricing Advice to … Everyone

Pragmatic Marketing

My first piece of advice: Add 10% to your bid when you’ve been referred. A reader named David asked: “I’ve enjoyed learning more about pricing from reading your articles. Any thoughts about pricing for house painters?”. And the advice is for everyone.

Inspiration: What you have to understand.

Under10 Playbook

The phrase "what you have to understand" rarely refers to something I have to understand.— “What you have to understand…” refers to some internal situation that prevents the company from delivering on their promises.

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

bpma ProductHub

Previous posts identified the seven sources of power and highlighted that enduring and authentic power emanates from referent, expert, and connection power sources. Contributed by Sarah McCrary. This is the third post in the “Understand Your Power To Claim Your Value” series.

The PM’s Toolbox: Product Management Tools and the Problems they Solve

UserVoice

Many companies refer to customer data in Salesforce , and swear by its use as a repository for customer traits… but that’s only one part of the story. It’s no secret that product managers wear a lot of hats.

This Keystone Habit Will Fuel the Rest of Your Continuous Discovery Habits

Product Talk

Each of the readings will refer you to additional readings, if you want them. I love working as a discovery coach. I work with dozens of teams at several companies spanning many industries.

Books 217

New Survey: Which Customer Marketing Programs Work Best for Your Company?

Pragmatic Marketing

Methods include surveys, user group meetings, net promoter scoring, customer advisory boards, reference programs, social media groups, hosted conferences and many more. Many companies these days claim to be “customer focused,” but there are numerous different ways to engage with clients. But how are such programs resourced and measured, and, most important, which programs generate the most value?

Why Your Strategy Process Doesn’t Work – Part-1

Sequent Learning

Many product and business managers in the corporate world can relate to that dreaded time of year, usually sometime between March and May, that is lovingly referred to as “strat plan.” It’s usually a stressful time of year, filled with all-day executive meetings that are often preceded by months of data collection, presentation preparation, and […]. The post Why Your Strategy Process Doesn’t Work – Part-1 appeared first on Sequent Learning Networks. BLOG PRODUCT STRATEGY

4 Powerful Ways to Use Rapid Prototyping to Drive Product Success

Product Talk

The design literature refers to this as parallel prototyping and the research shows that teams that parallel prototype outperform teams who sequentially prototype. When you hear the term “rapid prototyping,” what’s the first thing that comes to mind?

Backlog Refinement Takes You from Vision to Value

bpma ProductHub

As a case in point, the team should prioritize creating enabling specifications that are most useful for regulatory compliance, reference information for product support, and for team members who don’t have domain knowledge. References.

Vision 195

The 7 Product Dimensions: A Guide to Asking the Right Questions

bpma ProductHub

At a high level, Ellen points out that stakeholders – who she refers to as “product partners”- can be categorized into three groups: customer, business and technology. “A Will the user be able to save their chats for later reference?

4 Daily Scrum Tips for Product Owners & Product Managers

Roman Pichler

The Daily Scrum meeting, sometimes also referred to as stand-up meeting, wants to help the development team manage its work. Tip #1: Know what it’s all about. In Scrum, the team collectively agrees to a sprint goal and is responsible for meeting it.

10 Tips for Creating an Agile Product Roadmap

Roman Pichler

1 Focus on Goals and Benefits.

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.

People Don’t Buy Capabilities, They Buy Knowledge

PM Hardcore

SAP (the Reference Model). This guy might have too much knowledge. Knowledge is power. Most of our tools and applications deliver capabilities, but users and buyers are always hoping that what they’re buying is knowledge. Knowledge of how to do the job.

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.

Pragmatic Marketing Framework Update

Pragmatic Marketing

New boxes on the Pragmatic Marketing Framework include: Advocacy —Identify customers who are willing to give testimonials, case studies and references and amplify their voice in the market. Our courses are constantly evolving, a reflection of what we have learned teaching thousands of companies for 25 years. The most recent evolution involves the Pragmatic Marketing Framework.

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,

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.

Focus on the Metrics that Matter: Identifying Your Product’s Key Metrics and KPIs

UserVoice

Your retention rate is the percentage of customers who stick around at the end of a subscription cycle or term by renewing their contract, while churn refers to the percentage of customers who do not stick around; the percentage of customers who cancel or simply don’t renew.

Report templates for less status meetings

Folding Burritos

The template for recent and upcoming releases is essentially the same, but what changes is the point of reference.

What’s the difference between quantitative and qualitative research?

Userzoom

Both terms are as hard to pronounce as they are to spell – which is why you’ll often hear UX practitioners refer to them as “qual” and “quant.” You may also hear this referred to as empirical research.

What Does The Internet Of Things Mean To Product Managers?

The Accidental Product Manager

In some cases product managers are referring to what they are offering as being a “hardware as a service”. How will product managers deal with the Internet of Things? Image Credit: cea +.

A Better Approach To Demoing Can Turn Sales Around

PM Hardcore

All without reference to whether the customer cared about X or Y. A Sales Demo Challenge. At one of my previous companies our new logo sales – that is, new customers – were tanking. The account reps were not hitting quota on new logos.

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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.

Books 169

Are You a Product Manager? Let’s Talk

Product Talk

The audio will be recorded for my own reference and will not be shared publicly. Long-time readers know that I value user-centered design. I advocate for constant contact with your customers.