Product management essentials
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The document discusses key factors for successful product management. It notes that 60% of new products fail to make it to market due to long development cycles, lack of market fit, and being too expensive. It emphasizes understanding customer needs and testing concepts with prototypes and betas before full launch. The document provides tips for each stage of the product cycle from concept to launch and ongoing product roadmap management.
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Product management essentials
- 1. BE ON TOP OF YOUR PRODUCT MANAGEMENT : KEY FACTORS Didem Michenet 1
- 2. IN DEVELOPING NEW PRODUCTS, 60% FAIL TO MAKE IT TO MARKET!
- 3. 3 Long product development cycles Disconnected product with the market Too expensive for clients
- 4. Customers and 4 demand Pricing Market size BizDev Channels Technical product creation Budget and timeline
- 5. 5 Differentiate or Die Client Segments & Packaging Pricing & Profitability
- 6. 6 Concept Testing (MVP,Prototype) Product Development Beta Testing Product Launch (1st shipment) Ongoing Product Cycle Phases Itera4ons, digestable steps than big bang approach Good read : Four Steps to Epiphany from Steve Blank, serial entrepreneur, father of Customer Development methodology
- 7. Project Management 7 Skill qualifications Smart filtering Budget Monitoring Fixed budget, milestone payment Timeline, milestones Reverse Planning
- 8. Beta Checklist ! Qualify right 束 Beta Testers 損, early adapters, quality over quantity ! Use incentives to engage beta testers ! Strategize as marketing opportunity ! Stabilise the product (clean major bugs) ! Measure the feedback : Lessons learnt for Launch (SWOT Matrix) 8
- 9. Launch Success Factors Wrap your product to an attractive package for your client profiles Know your competition and prepare 9 Prepare brief and to-the-point launch documents Organize your support team
- 10. 10 Product Roadmap Customer feedback Product Manager ONGOING Go Agile! Release management
- 11. Toolbox 11 MVP : Monkey Survey Landing Pages-Adwords KickStarter Prototyping, wireframing: Balsamiq UxPin InVision Cacoo Feedback, Bug Tracking : UserVoice OpinionLab JIRA Bugzilla Prj Mng : Insightly Teambox Apollo GoogleDrive Dropbox Idea Testing : Pickfu ConceptFeedback Hypeanidea Support: ZenDesk Freelancer oDesk