Market insight why and how
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1. The document discusses gaining market insights for new product ideas. It suggests that for horizon 1 products, the best approach is to listen to customers, but for horizon 2, companies should test assumptions, and for horizon 3, find the right problems rather than asking customers directly. 2. It also notes that roadmaps are not commitments to customers but can be used to gain market insights, and should visualize the product vision as agreed upon by the team rather than just the product manager alone. 3. The presentation includes a quiz on market insights and discusses the importance of understanding customer needs, market trends, and using the build-measure-learn loop with prototypes and MVPs to gain insights rather than surveys.
Market insight why and how
- 1. Market Insight ¨C Why and How Quiz and presentation Harri Pendolin, Prodman Product Tank Meetup 27th of November 2014, Helsinki
- 2. #1 reason why new product ideas fail We don¡¯t understand market needs! Roadmap - Why and How 2014
- 3. CHALLENGE: What do YOU know about market insights? Are you ready for a quiz? Please, take your smart device, open a browser and go to kahoot.it. Enter game pin and your nick name. The quiz can be found here: https://create.kahoot.it/#quiz/3332259a-3292-4343-8592-6bec1402e46a Roadmap - Why and How 2014
- 4. 1. Customer insight is knowing the needs and problems your customers have ? Sales meeting ? Customer advisory boards ? Product statistics ? Feedback from customer support ? ¡ Roadmap - Why and How 2014
- 5. 2. Customer insight is also competitive intelligence Positioning Roadmap - Why and How 2014
- 6. 3&4. Customer insight is understanding market trends and technology insight Current market Roadmap - Why and How 2014 The next wave Time Money Every market and product has it¡¯s finite life-cycle!
- 7. 1. For new product ideas the best way to gain market insight is NOT to ask your customers The Challenge with new product ideas - Customers don¡¯t know what they will need!! Roadmap - Why and How 2014
- 8. 2. For new product ideas the best way to gain market insight is NOT to use agile development methodologies Being agile is good for REACTING to market insight, not to GAIN it Roadmap - Why and How 2014
- 9. 3. For new product ideas the best way to gain market insight is NOT to use online surveys In most of the cases surveys are made to reinforce our OWN assumptions. Roadmap - Why and How 2014
- 10. 4. For new product ideas the best way to gain market insight is to use Build-Measure-Learn loop Ideas Learn Roadmap - Why and How 2014 Build Product Measure Data Market Insight
- 11. Pretotypes and MVP¡¯s Roadmap - Why and How 2014
- 12. Three horizons planning framework Horizon 1 Horizon 2 Roadmap - Why and How 2014 Horizon 3 Current products Strategic themes or focus areas for new products Vision Time Money Three horizons - three different needs for market insight!
- 13. Gain market insight for horizon 1 Listen to your customers! Roadmap - Why and How 2014
- 14. Gain market insight for horizon 2 Test your assumptions! Roadmap - Why and How 2014 Picture by Mikko J?ppinen, Palmu Inc.
- 15. Gain market insight for horizon 3 Find the right problems! Roadmap - Why and How 2014
- 16. ¡°If you don't know where you are going, any road will get you there.¡± Lewis Carroll, writer of Alice in Wonderland Roadmap - Why and How 2014
- 17. 1. Roadmap is NOT a commitment to your customers Disclaimer: This document (¡°Roadmap¡±) contains forward-looking statements based on current expectations, forecasts and assumptions of the Company that involve risks and uncertainties. Roadmap - Why and How 2014
- 18. 2. Roadmap can be used to gain market insight Yes, but be careful with it! Roadmap - Why and How 2014
- 19. 3. Roadmap shall visualize your product vision ¡°An artefact that communicates the direction you¡¯ll be going in order to fulfill the product vision.¡± Janna Bastow, Co-Founder, ProdPad Roadmap - Why and How 2014
- 20. 4. Roadmap contents shall NOT come only from product manager Roadmaping and gaining market insight is teamwork Roadmap - Why and How 2014
- 21. And the winner is¡ Roadmap - Why and How 2014
- 22. Kiitos! Thank You! Harri Pendolin harri.pendolin@prodman.fi www.prodman.fi Roadmap - Why and How 2014
- 23. Competences, processes and tools. Winning product management. Success stories. Roadmap - Why and How 2014