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    Adaptive marketing presenting_translating_market_research_to_product_strat… Adaptive marketing presenting_translating_market_research_to_product_strat… Presentation Transcript

    • TRANSLATING MARKETRESEARCH TO PRODUCT STRATEGY Pinkesh Shah, CPM, CPMM pshah@adaptivemarketnig.in 1
    • Agenda to build Product Strategy OnlinePharma.in 1. Role of a PM 2. Market Research Techniques 3. Product Strategy Model – Value Curves2
    • Role of a PMBeyond requirements analysis CEO for the product Define the roadmap and deliver products that customers will actually buy Master Orchestrator of the “productizing” process Finding compelling, competitive and profitable solutions to market problems
    • Product Management Interlock Customer/ Steering teams Market Executives Partners Engineering Analysts Marketing Thought Sales leaders Architects Channel Sales Project Mgr Agencies Support Suppliers SEs And more.. And more.. Product Manager Internal External4
    • Inputs to Strategy Addressable New M&AFleeting or market Competencieslasting? Market Core New Routes to Size Competencies MarketCustomer Pain - Sales / SupportSize Investments Big Fish in Small Product Strategy Pond? DirectWillingness to CompetitorsPay Resource Target Customer Competitors Types Substitutes Target Segments Freemium Positioning Switching costs Timing Organizational Barriers to Appetite entry
    • Many ways to arrive at itMarket Research Inputs Product Strategy
    • Discovery::Social Media  New way of getting customer insights without flying around the world!  Channels like linkedin gives you focused access to the desired audience  Validation  Linkedin Polls  Facebook “like”  Blog responses7
    • Validation:: Secondary Research Source: Apple MarketPlace Apps by Category as of 9/24/11
    • 9 100$ test :: Prod Leadership Exec Program Name: _____________________ Real World Product Mgmt Best Company: _______________ Practices Role: Engineering PM Marketing Sales___ Weekend Schedule (full weekend) ___ Leadership/Soft Skills Module___ Weekend Schedule (partial ___ Subscription to all major business weekend) periodicals and magazines___ Industry Guest Lectures ___ Program approved by___ Emerging Topics company management___ US based CPM certification ___ Progam located in my city___ AICTE (Govt of India) ___ Followup coaching and approved course attending future sessions___ Internship opportunity available as alumni___ Option for attending certain ___ Write-In: ____________________ session online Comments: ________________________Flexible Payment Option (EMI, _______________________________ deferred) _______________________________ 9/27/2011
    • Market Research :: Survey Hire an Expert, if you can.  Your Decisions could cost jobs. Online Market Research tools  Zoomerang  SurveyMonkey  Google Ads  AskYourTargetMarket
    • Example of a “soft” surveyDear Pinkesh,I noticed you havent been using TimeBridge a lot since you signed up. Wed love to understand what is holding you back. If you click one of the links below it would help a lot. "Everything is fine, just havent had an occasion to use it yet." Yes, thats it. "Im having technical difficulties with TimeBridge." Yes, thats it. "Dont think Ill be using this, as I dont have a need for it." Yes, thats it. "I forgot to use TimeBridge the last time I scheduled a meeting." Yes, thats it. "None of these apply." Let me tell you more. You can always just reply to this email if youd like. Thanks for your feedback!Best Wishes,John Stormer, VP MarketingIf you dont want to receive future marketing messages from TimeBridge click here. TimeBridge, Inc. | 1600 Shattuck Avenue, Suite 216B | Berkeley, CA 94709
    • Market Research :: Survey Analysis Summary Data Your Analysis Quote the source13 Source: India’s first Annual PM/PMM Survey – Nov 2010
    • Market Research:: LinkedIn
    • Market Research :: Validation:: LinkedIn
    • How do we stitch it together?
    • Value Curves Methodology Reference Books: Blue Ocean Strategy – Kim, Mauburgne17
    • Elements of Performance  Elements in aggregate EOP for Cisco Router define a product or a  Configuration service Interface  Replacement  Attributes that different Service customers associate  Power different “value” to consumption  Its measurable  Price  Its not a feature/benefit18
    • Case study: Samsung 2005: Samsung LCD HDTV launch in US19
    • Value Curve:: Samsung Sony Sharp Samsung Elements of High Value Performance  Price  Picture Quality  Emotional Appeal Low Value  Décor  Sound Quality  HDTV  Functionality20
    • Value Differentiation Identification  Six Question test- 1. What elements can we eliminate or reduce the value delivered? 2. For what elements should we increase the value delivered? 3. What new elements could we introduce? 4. Do these changes make for compelling value proposition to MIC? 5. Is our position unique? 6. Is this position sustainable?21
    • Value Curve:: Samsung Revisited Sony Sharp Samsung Elements of High Value Performance  Price  Picture Quality  Emotional Appeal Low Value  Décor  Sound Quality  HDTV  Functionality22
    • Value Delivered  Samsung 51/52 (LN52A650) model introduced in US in Feb 2006 Company Jan 06 May 06 Samsung 12.1% 26.4% Sony 24.6% Sharp 8.4% TV Market share Source: BusinessWeek Online June 22, 200623
    • Onlinepharma.in List elements of performance24
    • Elements of Performance  Drug Catalog – will I get the medicine I want?  Time to Deliver – how long before I get it in my hands?  Price – what is going to be my final price?  Payment – can i pay through my insurance? (cashless, reduced paperwork)  Reminders – can I setup a recurring schedule  Open – can I get a medicine in the middle of the night?  Support – can I have access to pharmacist if I have questions on dosage?  Medical Advice – can I get medical advice for non critical issues?25
    • Elements - Ranked 10 1 9 2 8 3 7 6 5 4 3 2 Madhya Pradesh 1 0 Kerala Punjab26
    • Value Curves – Tier2 cities Online pharma "Aayush" chain Ranked Value All competitors Elements: General High Value Cashless 3% Home Delivery 17% Access 25% Price 20% Time to Deliver 5% Low Value Drug Variety 30% Drug Access Price Cashless Time to Availability Deliver27
    • “Productizing” Process Creating Communicatin Value g Value • Customer • Value • Value Value • Define based • Positioning Channels Modeling products Pricing Value Network Prop Understanding Capturing Delivering Value Value Value Value Management = Product Management Market Strategic Product Go To Sales Analysis Planning Planning Market Enablement Choosing to Building Building it Marketing it Selling Build Profitably right right effectively28
    • “Productizing” Innovation::Idea to Enterprise Market Strategic Product Go To Sales Analysis Planning Planning Market Enablement Choosing to Building Building it Marketing it Selling Build Profitably right right effectively Value Collaterals & Target Market Product Research & Requirements Sales Tools Sizing Positioning Analytics Product Lead Resources & Product Line Routes to Generation& Competencies Strategy Economics market PreSales Competitive Personas & Marketing Channel & Buy/Build/ Analysis Partner Scenarios Plan Sales Training Market Evangelism Win/Loss Pricing & Acceptance Launch Plan Thought Analysis Packaging Planning Leadership Customer Performance Business Product Customer Relationship Analysis Model & Plan Roadmap Acquisition Mgmt29
    • Scheduled Training Offerings www.adaptivemarketing.inOpen Adaptive Adaptive Adaptive AdaptiveWorkshops Product “Productizing” Advanced Advanced Management Workshop for Workshop for Workshop for Professional Engineers Product Mgr Sales & MarketingDuration 6 days 2 days 2 days 2 daysAudience 5+ years 5+ years 4+ years of 4+ years of experience in experience. PM/PMM, customer facing product Engineers, Project experience, MBA BD, PM/PMM, company Managers, desirable sales experience ArchitectsFocus Career Developing a Advanced PM Focus on setting Transformation customer & skills, managing up and running workshop that business context multiple product sales and builds around building lines, new marketing foundational products. product operations. skillsets to Understand P&L, launches, Business Leveraging online become a Business plan, plans, social marketing, social global PM success metrics media mediaCertification AIPMM, USA Adaptive Product AIPMM, USA AIPMM, USA Certification Professional Certification Certification30 (CPM/CPMM) Certification (CPM) (CPMM)
    • We consult with companies and train professionals on “productizing” Training Train and certify product professionals for accelerated career growth Consulting Helping companies launch new product lines and scale existing ones throughout the product lifecycle with predictable success. Execution Integrate with client’s management team and help31 set and execute product strategy