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ProductCamp Austin Summer 2009 panel discussion. Do you have a strategy? Are you shooting from the hip? How do you tie product decisions to your strategic objectives? Gut feel, dartboard, qualitative ...

ProductCamp Austin Summer 2009 panel discussion. Do you have a strategy? Are you shooting from the hip? How do you tie product decisions to your strategic objectives? Gut feel, dartboard, qualitative analysis, QFD/HOQ… Learn how to hit the target - Get a Scope! We will dive into the definition of strategy, market analysis, setting your product strategy, product prioritization and portfolio balancing. Bring your experiences and join the open discussion.

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  • Show this slide, then open for discussion. How does you company define strategy? How is strategy different from tactics? What is the time horizon for strategy?
  • Political alliances Voting / consensus process

Beyond gut feel – tying strategy to product decisions Presentation Transcript

  • 1. Beyond gut feel – tying strategy to product decisions Don’t shoot from the hip. Get a scope!
  • 2. How do you pick your projects? “ It would appear, Hopkins, that your gut feel was only indigestion.”
  • 3. What is Strategy?
    • “ The question isn't what are we going to do. The question is what aren't we going to do." – Ferris Bueller
  • 4. What is Strategy?
    • “ A strategy is a plan of action designed to achieve a particular goal.” – Wikipedia
    • “ Strategy is making trade-offs in competing. The essence of strategy is choosing what not to do . " – Michael Porter
    • Strategy is a plan to optimize business results, given the firm's objectives and constraints imposed by resource scarcity, technology, and market conditions.
    • – Managerial Economics
  • 5. Marketing strategy model Core Competence Market Research
  • 6. A successful marketing strategy…
    • Is part of the overall business strategy
    • Matches the right product to the right market
    • Builds on the firm’s strengths
    • Defends against weaknesses
    • Protects against threats
    • Achieves the marketing objectives
  • 7. Kotler’s share related strategies Description Strategies Market leader
    • Typically largest share
    • Most profitable
    • Sets price
    • Expand the market
    • Defend their position
    Market challenger
    • Lower share
    • High aspirations
    • Aggressive share growth
    • Long term challenger
    • Outperform leader
    • Price pressure
    • Product innovation
    Market follower
    • Lower share
    • Follows the leader
    • Looking to survive
    • “ Me too” strategies
    Market nicher
    • Small market share
    • High cost
    • Premium pricing
    • Differentiation
    • Focus, specialize, and dominate niche market segment
  • 8. Ansoff’s Matrix Existing products New products Existing markets Market penetration Product development New markets Market development Diversification
  • 9. How do you pick your projects?
  • 10. How do you pick your projects?
    • Random chance / gut feel
    • CEO / founder chose them.
    • Marketing VP talked to a customer last week.
    • Gartner says it is required for success.
    • Large customer requires it or they’ll walk!
    • Qualitative risk assessment
    • Deep quantitative business case
    • Others …..?
  • 11. Maintaining a balanced portfolio 60% 20% 20% Breakthrough Lights-On High-Value Difficulty Value
  • 12. Portfolio prioritization model
    • Products / projects measured by two tools:
      • Use scorecards to evaluate projects according to value and difficulty / complexity.
      • Map projects on the portfolio prioritization chart.
    60% 20% 20% Breakthrough Lights-On High-Value Product Development Management Quadrant
  • 13. Release strategy balancing
  • 14. Risk vs Reward Project Dashboard
  • 15. Risk vs Reward Release Scorecard
  • 16. Project Scorecard
  • 17. QFD Matrix Interdependencies Product Features Customer Needs Difficulty weighting Importance Rating Competition
  • 18. Contact us
    • Derick Workman
      • Email: workmand@rymatech.com
      • Twitter: @derickworkman
    • Mark Suchanek
      • Email: msuchanek@austin.rr.com
    • Mike Boudreaux
      • Email: mike@boudreaux.net
      • Twitter: @mikeboudreaux
  • 19. Thank You PCA Sponsors!