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Verhaert Innovation Day 2012 – Dany Robberecht (VERHAERT) - Product management: turning pain into gain
 

Verhaert Innovation Day 2012 – Dany Robberecht (VERHAERT) - Product management: turning pain into gain

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Speaker of Verhaert at the 9th edition of our Innovation Day on October 26th 2012.

Speaker of Verhaert at the 9th edition of our Innovation Day on October 26th 2012.

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    Verhaert Innovation Day 2012 – Dany Robberecht (VERHAERT) - Product management: turning pain into gain Verhaert Innovation Day 2012 – Dany Robberecht (VERHAERT) - Product management: turning pain into gain Presentation Transcript

    • CONFIDENTIAL Product Management: turning pain into gain Dany Robberecht Director Consulting Office Dany.robberecht@verhaert.com26.10.2012 Slide 1
    • CONFIDENTIAL What is it about? How to get it done? What does it take?26.10.2012 Slide 2
    • CONFIDENTIAL Understanding the walk26.10.2012 Slide 3
    • CONFIDENTIAL Product management – common understanding26.10.2012 Slide 4
    • CONFIDENTIAL He’s becoming in fact the innovation manager Innovation driven Front end activities Increasing expectations Different toolchain Time pressure Converging world26.10.2012 Slide 5
    • CONFIDENTIAL The fuzzy-front-end … Source:Based on Verhaert26.10.2012 Slide 6
    • CONFIDENTIAL The key role of the product manager Complex interdisciplinary management of diverse roles and orientations Need for hollistic ”mushroom” profile Product Strategy For “new” product: Often link to (corporate) business problem is required. Product Manage- Product Management must drive return on innovation ment Toegevoegde waarde Product = ROI Product Develop- Cost Marketing ment26.10.2012 Slide 7
    • CONFIDENTIAL But the goal remains the same … “build products people want to buy”26.10.2012 Slide 8
    • CONFIDENTIAL Is it really so difficult?26.10.2012 Slide 9
    • CONFIDENTIAL Would you buy this? How would a good product for the problem look like? Toilet Snorkel US Patent26.10.2012 Slide 10
    • CONFIDENTIAL The world is moving as well Globalisation Fierce competition Shorter life cycles Social media power Novel distribution models26.10.2012 Slide 11
    • CONFIDENTIAL Managing in a concurrent environment Elec& sw,.. Product innovation Mech.eng,.. New-value Options Options Options Options proposition Design,… Marketing,.. Stage 4 Business innovation Stage 3 User ,.. Stage 2 Business Stage 1 modeling “The nature of how companies are organised inhibit cross disciplinary collaboration” “The nature of how companies are organised inhibit cross disciplinary collaboration”26.10.2012 Slide 12
    • CONFIDENTIALGetting the job done26.10.2012 Slide 13
    • CONFIDENTIAL Driving innovation – what entry points to consider? What customers demand Business Voice of the Process customer How customers have Job-to-be-done access to a solution What customers in fact need Source:Based on Verhaert26.10.2012 Slide 14
    • CONFIDENTIAL Coke Cooler Innovations at glance … High Technology Change Hug me cooler Low Known Novel Meaning to users Source:Based on Verganti26.10.2012 Slide 15
    • CONFIDENTIAL Coke Cooler Innovations at glance … High Low energy cooler Technology Chance Low Hug me cooler Known Novel Meaning to users Source:Based on Verganti26.10.2012 Slide 16
    • CONFIDENTIAL Coke Cooler Innovations at glance … High Low energy cooler POP Cooler Technology Change Low Hug me cooler Known Novel Meaning to users Source:Based on Verganti26.10.2012 Slide 17
    • CONFIDENTIAL Coke Cooler Innovations at glance … High Low energy cooler POP Cooler Technology Change Low Hug me cooler Glacier Cooler Known Novel Meaning to users Source:Based on Verganti26.10.2012 Slide 18
    • CONFIDENTIAL From a market strategy perspective start an innovation strategy from the situation PRODUCT PERFORMANCE TIME when product performance is good enough… Focus on a) desire-ability: life style-design, branding, communities,… b) use-ability, convenience throughout the life cycle -Look for User Centered Design (UCD) Source:Based on -Look for potential in service innovation Christensen26.10.2012 Slide 19
    • CONFIDENTIAL From a product development perspective leverage from platform thinking An example … An important ‘top-level’ specification step : How do we diversify the product towards different client groups -”jobs to be done”? What do we deliver and what de we leave for our partners? What’s the baseline? What are options (how do we construct our price list)? What are the technical building blocks? Which components / subsystems are driving performance? Which components / subsystems are sensitive for technology evolution? What will probably be personalised? How is the product handled throughout the value chain? (transport, installation, …)26.10.2012 Slide 20
    • CONFIDENTIAL From a product strategy perspective build differentiating value propositions An example … In our product economy we often tell bizarre stories. Stories that not engage our users, neither they improve our competitive position. Despite the efforts of a whole company they don’t deliver anything.26.10.2012 Slide 21
    • CONFIDENTIAL The new product management framework Understand market Formalise your Create go-to-market Support the sales problems and your product plans to programs aligned to channels with market unique ability to deliver profitable the buying/making and product address them. solutions for market process expertiseSTRATEGIC problems TACTICAL MARKET STRATEGY BUSINESS PLANNING PROGRAMS READINESS SUPPORT Create a product Connect your Ensure the ability to strategy integrated business plans with sell and support your with your the organisations product organisation’s that develop, products promote and deliver to the market Source:Based on Verhaert 26.10.2012 Slide 22
    • CONFIDENTIAL The new product management framework ? Business Marketing Positioning your plan event plan Strategy Customer fit Market Market Customer Pricing Buying problems definition acquisition process Win/Loss Distribution Buy, build, Buyer Customer analysis strategy partner personas rentention Distinctive Program Product Profitability UserSTRATEGIC compe- effective- tence portfolio monitoring personas ness Marketing TACTICAL MARKET STRATEGY BUSINESS PLANNING PROGRAMS READINESS SUPPORT Innovation Presenta- Competive Product Require- Launch Sales compe- tions & landscape roadmap ments plan process tencies demos Techno- Use Thought ‘Special’ logy Collateral scenarios leadership calls knowledge Status Lead Sales Event boards generation Tools support Technical Referrals & Channel Channel references training support Source:Based on Verhaert 26.10.2012 Slide 23
    • CONFIDENTIAL NPM’s must manage return on innovation valuation € Innovation multiple value curve cumulative cash time investment traction Source:Based on Verhaert26.10.2012 Slide 24
    • CONFIDENTIALEstablish a framework26.10.2012 Slide 25
    • CONFIDENTIAL Companies must create differentiated roles … # persons Engineering Senior Mgm # locations Technical Product Director product mgr Technical Product Sales support Management Solutions Product architect Marketing Mgr Presales Marketing focus technical business Source:Based on Verhaert26.10.2012 Slide 26
    • CONFIDENTIAL Example of a medical company’s perspective Interventional Interventional Vascular cardiology radiologist surgeon Existing treatments Solutions S + T New treatments Technology O Source:Based on Verhaert26.10.2012 Slide 27
    • CONFIDENTIAL The product management organisation Organised from a market Organised from a / application perspective or Technology perspective or or Organised from a product champion perspective LEADERSHIP 1) General product mgm function 2) From one of the componentsMost companies need all of them Source:Based on Verhaert26.10.2012 Slide 28
    • CONFIDENTIAL A driver needs a dashboard26.10.2012 Slide 29
    • CONFIDENTIAL Dashboard as a basis for communication To Inform all stakeholders •Maximizing fit with user / market requirements •Minimizing the development cycle •Controlling development & product costs26.10.2012 Slide 30
    • CONFIDENTIAL New Products Pipeline is yours connected to your business strategy?New-Products pipeline CONFIDENTIAL 12/07/02 last update initiator FW last print Product candidate/ Project Stage Value idea startegic fit added value bus m odel business case Lead user ID Funding Euro General Total (N°) 13 22 10 21 13 General Total (KEuro) 24.000 38.250 50.000 287.898 156.057 1.258.852Project A x 17.124Project B x 26.400Project C x 14.285Project D x 15.000Project F x 20.000Project G x 27.300 14.285 x 55.400 x 15.000 x 15.000 x 40.100 x 20.000 x 60.000 •Provides overview of the initiatives, status, and potential •Make sure your pipeline is not back or front loaded (distribution) •Each project described as NABC (New Application & Business Concept) 26.10.2012 Slide 31
    • CONFIDENTIAL N-ABC New application & business concept Elements of a product candidate description of eight key elements: 1. Title 2. Summary of the problem/need and approach (useful?) 3. Description of the situation the customer/user was facing (value?) 4. What we will do to solve their problem (feasibility?) 5. Description of the impact of the solution (usability?) 6. An appropriate illustrative visualisation (desirability?) 7. Differentiation concept (positioning / competition) 8. Business concept26.10.2012 Slide 32
    • CONFIDENTIALIllustration of N-ABC (product model) Need Approach 350 million smokers – 5000 million cigarettes/y Launch project in marketing driven projects Packaging is very expensive (Music festivals, …) Main functions are marketing and product preservation Prototype development required of blister Increasing regulations to stop advertising / concept smoking Benefit Competition Blister will unleash a marketing tornado = Traditional packs branding Improved performance to getting wet, less cracks in pocket, etc. Better fit to jeans pocket26.10.2012 Slide 33
    • CONFIDENTIAL Building a common language is essential – visual thinking System diagrams – artist impressions, moodboards,exploded views, collages,… “Product Managers need to connect the dots. Visual thinking, on all aspects, provides very good communication abilities.”26.10.2012 Slide 34
    • CONFIDENTIAL Conclusions • The nature of new products management requires an exploratory attitude, out-of-the-box thinking, but focused on a business challenge; so very result driven at the end. • Companies must creates some ‘air’ to connect the dots, hence the innovation strategy and the measures taken within must be aligned to a company’s business strategy / ambitions. • Innovation requires multi level decisions, hence a separate reporting structure is required, managing both horizontal and vertical streams • Communication is essential and visual thinking is very useful to create a common communication language26.10.2012 Slide 35
    • CONFIDENTIAL VERHAERT MASTERS IN INNOVATION® Headquarters Hogenakkerhoekstraat 21 9150 Kruibeke (B) tel +32 (0)3 250 19 00 fax +32 (0)3 254 10 08 ezine@verhaert.com More at www.verhaert.com VERHAERT MASTERS IN INNOVATION® Netherlands European Space Innovation Centre Kapteynstraat 1 VERHAERT MASTERS IN INNOVATION® helps companies and governments to innovate. 2201 BB Noordwijk (NL) We design products and systems for organizations looking for new ways to provide value Tel: +31 (0)633 666 828 for their customers. willard.vanderheijden@verhaert.com We are a leading integrated product innovation center; creating technology platforms, More at www.verhaert.com developing new products and business in parallel, hence facilitating new-growth strategies for our clients.26.10.2012 Slide 36