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The 9 "P's" of Product Management
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The 9 "P's" of Product Management

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9 elements you need to align in any successful product.

9 elements you need to align in any successful product.

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  • 1. C h u c k P i er c ey & T om M i l l er D r a f t v 0 8 , u p d a t ed 8 . 8 . 2 0 0 8 9P’S C o m p a n y C o n f id e n t ia l1 © 2008 N o k ia V1- F il n a m e .p p t e / YYYY- M M - D D / I n it ia l s
  • 2. The Nine P’s Dis cipline• S a l s n e e d s a c r e d ib l p l n e e a f o r e ac h p r o d u c t • P r o f il e • P a in • P o s it io n • Pr o d u c t • P r ic in g • Pl c e m e n t a • Par t n e r s • P r o m o t io n • P r o p o s it io n Without all the ingredients, the result will taste awfulC o m p a n y C o n f id e n t ia l2 © 2008 N o k ia V1- F il n a m e .p p t e / YYYY- M M - D D / I n it ia l s
  • 3. The Nine P’sProfile• Wh o u s e s it ?• Wh o b u y s it ?• U n d e r s t an d s e g m e n t s o f y o u r m ar k e t f o r t h e p r o d u c t• H o w m a n y p o t e n t ia l c u s t o m e r s o u t t h e r e ?• Wh e r e t o f in d t h e m , h o w t o r e c o g n iz e t h e m ?• Wh e r e d o y o u g o f ir s t ? T h e b ig g e s t p a in p o in t , h ig h e s t v al e / r e t u r n u• Wh a t w il t h e y p a y ? An a l s e t r a d e - o f f s , a l e r n a t iv e s a n d l y t c o m p e t it io nC o m p a n y C o n f id e n t ia l3 © 2008 N o k ia V1- F il n a m e .p p t e / YYYY- M M - D D / I n it ia l s
  • 4. The Nine P’sP ain• Cu s t o m e r s c u r r e n t s it u a t io n ?• H o w d o t h e y s u f f e r ? M e a s u r e t h e s u f f e r in g ?• Wh a t is t h e v a l e o f u f ix in g t h e p r o b l m ? e• Wh a t a r e t r ig g e r p o in t s t o t a k in g a c t io n a n d b u y in g ?• Ar t ic u l t e in a n E l e v a t o r P i t c h aC o m p a n y C o n f id e n t ia l4 © 2008 N o k ia V1- F il n a m e .p p t e / YYYY- M M - D D / I n it ia l s
  • 5. The Nine P’s P os ition • C o m p e t it o r s a n d a l e r n a t iv e s t • D if f e r e n t ia t io n o f o u r p r o d u c t v s t h o s e a l e r n a t iv e s t • M u s t m a p t o p a in p o in t o n p r e v io u s s l e id • Ar e t h e r e w o r s e p a in p o in t s t h a n t h e o n e s w e s ol e ? v • L if e s p a n o f o u r s o l t io n - - w il it b e r e p l c e d o r a u l a d e ad -e n d ? • Ro a d m a p : d o e s t h e e v o l t io n o f t h is p r o d u c t l a d t o u e e v e n g r e e n e r p a s t u r e s in t h e f u t u r e ?C o m p a n y C o n f id e n t ia l5 © 2008 N o k ia V1- F il n a m e .p p t e / YYYY- M M - D D / I n it ia l s
  • 6. The Nine P’sP rod u ct• C l a r l d e f in e d e y b e n e f it (s ) f r o m t h is p r o d u c t• Wh a t f e a t u r e s d o e s t h e p r o d u c t c o n t a in t h a t del er iv t h is b e n e f it ?• C l a r d e f in it io n e a n d s p e c if ic a t io n o f t h e p r o d u c t , an d r e l t e d s e r v ic e a an d s u p p o r t • M u s t a l o s p e c if y w h a t is n o t in c l d e d b u t w h e r e s u c u s t o m e r c a n g e t o t h e r d e p e n d e n t c o m p o n e n t s - I .e . “B a t t e r ie s N o t I n c l d e d ” u• H o w is p r o d u c t u s e d b y t h e c u s t o m e r ? Ar e t h e r e d o w n s t r e a m r e c ip ie n t s o f b e n e f it s o f t h is p r o d u c t ?• P r ic e , l e n s in g , o t h e r b u s in e s s t e r m s icC o m p a n y C o n f id e n t ia l6 © 2008 N o k ia V1- F il n a m e .p p t e / YYYY- M M - D D / I n it ia l s
  • 7. The Nine P’sP ricing• C a n w e p r ic e t o s u p p o r t o u r in v e s t m e n t , a n d s t il l p r o v id e c u s t o m e r b e n e f it a n d RO I ?• B a c k - o f - t h e - e n v e l p RO I o ju s t if ic a t io n• S im p l v o l m e d is c o u n t e u m od e l• P r ic in g a r c h it e c t u r e t o f it d if f e r e n t s c e n a r io s • M a r g in p r e s s u r e o n m o b il p h o n e s d if f e r e n t e f rom U l r a s o u n d M a c h in e s t • D o e s p r ic in g f it an d s u p p o r t t h e s a l s , n e g o t ia t io n e proce s s ?C o m p a n y C o n f id e n t ia l7 © 2008 N o k ia V1- F il n a m e .p p t e / YYYY- M M - D D / I n it ia l s
  • 8. The Nine P’sP lace m e nt• Wh o s e ls t h e p r o d u c t ? Wh ic h c h a n n e l ? l s• Ar e t h e r e m u l ip l b u y e r s in a s u p p l c h a in ? t e y• Wh e r e d o y o u f in d p r o s p e c t iv e c u s t o m e r s ?• Wh a t is t h e e s t im a t e d t im e l e r e q u ir e d t o c l s e a in o t y p ic a l s a l ? e• Wh a t r e s o u r c e s a r e n e e d e d t o s u p p o r t a t y p ic a l s a l ? e• D e l e r y o n c e s o l , an d s u b s e q u e n t s u p p o r t iv d • S p e c if ie d a n d c l a r l d e s c r ib e d - - s e t e x p e c t a t io n s f o r t h e e y c u s t o m e r a b o u t w h a t t h e y ’r e g e t t in g , w h e n a n d h o w del ered iv• T r a in in g p r o g r a m t o c o v e r al t h o s e s al s & s u p p o r t l e res ou rcesC o m p a n y C o n f id e n t ia l8 © 2008 N o k ia V1- F il n a m e .p p t e / YYYY- M M - D D / I n it ia l s
  • 9. The Nine P’sP artne rs• I s a t h ir d p a r t y c o m p o n e n t r e q u ir e d ?• I s t h e r e a t h ir d p a r t y w h o p r o v id e s a d d e d c r e d ib il y o r it c o n n e c t io n s in t h e t a r g e t m a r k e t ?• S h o u l it b e b u n d l d & r e s o l o r r e f e r r a l d e d ?• Wh a t o t h e r s u p p l r s & v e n d o r s o r in f l e n c e r s t o u c h t h e ie u c u s t o m e r a s p a r t o f t h e t y p ic a l s a l s c y c l ? e e• Wil t h e s e p a r t n e r s a l n a n d c o o p e r a t e ? l ig• Wh o o w n s t h e p a r t n e r r e l t io n s h ip a n d c o n f ir m s t h e f it a n d a al n m e n t t o o u r p r o d u c t o f f e r ? ig• D o w e c o m p e t e o n s h ar e o f c u s t o m e r b u d g e t ?• D o w e p l n t o r e p l c e p a r t n e r w it h o w n o f f e r ? a aC o m p a n y C o n f id e n t ia l9 © 2008 N o k ia V1- F il n a m e .p p t e / YYYY- M M - D D / I n it ia l s
  • 10. The Nine P’s P rom otion • S t a r t w it h t h e E l v a t o r P it c h e • Ar e m e s s a g e s c l a r a n d f a c t b a s e d ? e • Av o id o p in io n w o r d s “b e s t ” e t c . a n d s t a t e f a c t s t h a t he l cu s t om e r p r e a l e “b e s t ” iz • L au n c h p l n e l m e n t s a e • PR • Ad v e r t is in g ? • C o m m u n it y o u t r e a c h (e .g . l v e r a g e K D E ? L iM O ? ) e • An a l s t , b l g g e r s , o p in io n l a d e r s y o e • L e a d c u s t o m e r - f o r f u t u r e s u c c e s s p r o f il e • P a r t n e r s l e d u p a n d c o n f ir m e d a n d e d u c a t e d in • Wh it e p a p e r - e s p e c ia ly if d e f in in g a n e w m a r k e t s e g m e n t l • We b in a r s , Q u ic k s t a r t s , T r a in in g & U n iv e r s it y o u t r e a c h • D e v D a y s (if t im in g is r ig h t ) • E x is t in g c u s t o m e r a n n o u n c e m e n t s , p r e v ie w s • Be ac h h e ad c u s t o m e r l t t o at t ac k is • O n g o in g o u t r e a c h - r e p e a t ab o v e as n e e d e dC o m p a n y C o n f id e n t ia l10 © 2008 N o k ia V1- F il n a m e .p p t e / YYYY- M M - D D / I n it ia l s
  • 11. The Nine P’sP rop os ition• H o w is o u r o f f e r s u m m e d u p in a p r o p o s a l ?• B e n e f it s d e f in e d , RO I as s e r t e d• D e l e r a b l s p e c if ie d iv e• Lon g t e rm v a l e p r o p o s it io n p r o v a b l , m e a s u r a b l u e e• C l a r c a l t o a c t io n a n d c l s in g p r o c e s s d e f in e d e l o• T im e l e o r e x p ir a t io n o f o f f e r in C o m p a n y C o n f id e n t ia l11 © 2008 N o k ia V1- F il n a m e .p p t e / YYYY- M M - D D / I n it ia l s
  • 12. The Tenth PP lan• I n t e g r at e d b e t w e e n Pr o d u c t M a n a g e m e n t , M a r k e t in g , S a l s , P S O in c l d in g s u p p o r t e u• O t h e r d e p a r t m e n t s h a v e s u b t a s k s , i.e . L e g a l w it h p r o d u c t m a n a g e m e n t a b o u t c o n t e n t o f o f f e r , o r I S YS w it h Ax a p t a• Wo r k in g t h r o u g h t h e P ’s• P r io r it ie s … C o m p a n y C o n f id e n t ia l12 © 2008 N o k ia V1- F il n a m e .p p t e / YYYY- M M - D D / I n it ia l s
  • 13. The Nine P’s Dis cipline• S a l s n e e d s a c r e d ib l p l n e e a f o r e ac h p r o d u c t • P r o f il e • P a in • P o s it io n • Pr o d u c t • P r ic in g • Pl c e m e n t a • Par t n e r s • P r o m o t io n • P r o p o s it io n Without all the ingredients, the result will taste awfulC o m p a n y C o n f id e n t ia l13 © 2008 N o k ia V1- F il n a m e .p p t e / YYYY- M M - D D / I n it ia l s