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Creating a Product Strategy to Drive Your Company’s Revenue Growth - ProductCamp DC - H. Del Castillo, AIPMM
 

Creating a Product Strategy to Drive Your Company’s Revenue Growth - ProductCamp DC - H. Del Castillo, AIPMM

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Introduction ...

Introduction
The creation of successful products is essential for companies that want to grow or maintain a competitive advantage. Many organizations lack a clearly defined and understood product strategy. We will discuss the importance of the AIPMM Product Management Framework (PMF) to define and implement a process to conceive, plan and market your company’s products at each stage of their life cycle. We will identify key activities to align business and product strategy with unmet customer needs to create value for your business. We will describe the typical product life cycle from concept to launch and through product retirement. We will also discuss why growing organizations need to implement a formal product management process to support their product strategy.

Key Points:

* Why do you need to define a product strategy for your company?
* What are the benefits of implementing a product planning process?
* What do you need to create successful products consistently?

Connect with me at http:/linkd.in/hdelcastillo for more information regarding AIPMM membership or certification courses in your area.

Let me know how I can help you create and implement a product strategy and product planning process successfully to grow your technology-based business.

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    Creating a Product Strategy to Drive Your Company’s Revenue Growth - ProductCamp DC - H. Del Castillo, AIPMM Creating a Product Strategy to Drive Your Company’s Revenue Growth - ProductCamp DC - H. Del Castillo, AIPMM Presentation Transcript

    • Hector Del Castillo linkd.in/hdelcastillo May 5, 2012© AIPMM 2012
    • Thank You to Our Sponsors© AIPMM 2012 2
    • Tweet About Us! Hector: @hmdelcastillo AIPMM: @aipmm ProdMgmtTalk: @ProdMgmtTalk PCampDC: @PCampDC© AIPMM 2012
    • Hector Del Castillo • Over 10 years transforming products to profit for technology-based companies • AIPMM Body of Knowledge (ProdBOK®) Contributor • Established companies – Jet Propulsion Laboratory, Lucent Technologies, MEI Technologies • Small companies and startups – Nextone Communications, Smith Micro Software • Launched 27+ Products for global deployment – HW/SW, Telecom, Enterprise Mobility, Information Security Services, Professional Development • Certified PMP®, CPM® and CPMM® • University of California at Santa Barbara, MS EE • University of Texas at El Paso, MS EE, BS EE© AIPMM 2012
    • © AIPMM 2012
    • © AIPMM 2012
    • AIPMM Certifications Certified Product Manager (CPM®) Certified Product Marketing Manager (CPMM®) Agile Certified Product Manager (ACPM®) Source: Get Certified, AIPMM Website© AIPMM 2012
    • What We Will Discuss 1. What is Product Strategy? 2. Why Your Company Needs It 3. Implementing A Product Strategy 4. Key Takeaways© AIPMM 2012
    • What is Product Strategy? ”Product strategy begins with a strategic vision that states where a company wants to go, how it will get there, and why it will be successful.” Source: Product Strategy for High Technology Companies, 2nd Edition, Michael E. McGrath, 2001© AIPMM 2012
    • ”Product strategy is like a roadmap. It’s useful only when you know where you are and where you want to go.” Source: Product Strategy for High Technology Companies, 2nd Edition, Michael E. McGrath, 2001© AIPMM 2012
    • Fortune’s Most Admired Companies Rank Company Industry Industry Rank 1 Apple 1 Computers 2 Google 1 Internet Services & Retailing 3 Amazon.com 2 Internet Services & Retailing 4 Coca-Cola 1 Beverages 5 IBM 1 IT Services 6 FedEx 2 Delivery 7 Berkshire Hathaway 1 Property and Casualty 8 Starbucks Coffee 2 Food Services 9 Procter & Gamble 1 Soaps and Cosmetics 10 Southwest Airlines 3 Airlines Source: FORTUNE Magazine, 19 Mar 2012© AIPMM 2012
    • TIPS FOR IMPLEMENTING A PRODUCT STRATEGY SUCCESSFULLY© AIPMM 2012
    • 1. Align Strategies With Needs Focus on creating and delivering value-added Customer products to target customers Product based on their unmet needs. (Value) Business Market © H. Del Castillo, AIPMM, Product Management Triple Constraint, 2011© AIPMM 2012
    • Understand The Difference Business Strategy vs. Product Strategy Defines the path to Roadmap for investment create a sustainable and creation of new competitive advantage revenue streams. for your business.© AIPMM 2012
    • Create Alignment Align business, marketing and product strategies with unmet market needs.© AIPMM 2012
    • Document and Communicate It Financial How much investment is needed? How soon will we break even? Learning & Growth Customer What key resources are Product What are the unmet needs? needed? Vision & Mission Who are the customers? What knowledge and skills are needed? Who’s most likely to buy? Business Processes What key activities and deliverables are needed?© AIPMM 2012
    • 2. Mind Your Company’s Culture Cultivate a culture that Process fosters innovation and collaboration to create People & deliver great products. Culture© AIPMM 2012
    • Focus on Shared Values Source: McKinsey 7S Framework© AIPMM 2012
    • Eliminate organizational silos© AIPMM 2012
    • 3. Create a Product Planning Process Product Management Framework (PMF) Source: © AIPMM, 1998-2012, All Rights Reserved.© AIPMM 2012
    • Leverage The Product Life Cycle© AIPMM 2012
    • Identify Key Resources© AIPMM 2012
    • Define Key Deliverables© AIPMM 2012
    • 4. Identify Market/Customer Trends© AIPMM 2012
    • Discover Unmet Customer Needs© AIPMM 2012
    • Identify Customer Segments Needs; e.g., Demographics; e.g., Problems/pain points Industry Applications/uses addressed Function Key functionality/attributes Geography Degree of sophistication/quality/… Age/gender/income Drives Product/Solution Strategy Other personal/business Behaviors and Attitudes; e.g., characteristics Risk appetite/adoption Drives Outreach Strategy Psychographics (lifestyle/personality) Stated/unstated values Usage patterns Vendor/brand loyalty Drives Adoption Strategy© AIPMM 2012
    • Know Your Competitive Landscape© AIPMM 2012
    • 5. Deliver Value, Success Will Follow© AIPMM 2012
    • Creating and delivering value to customers, executives and investors is essential for a successful business.© AIPMM 2012
    • Direct the Internal Value Chain© AIPMM 2012
    • 6. Use Leading Productivity Tools© AIPMM 2012
    • Build Your Business Model© AIPMM 2012
    • Make Your Business Case© AIPMM 2012
    • Key Takeaways 1 • Align strategies with needs 2 • Mind your company’s culture 3 • Create a product planning process 4 • Identify market/customer trends 5 • Deliver value, success will follow 6 • Use leading productivity tools© AIPMM 2012
    • Useful Links • Website: http://www.aipmm.com • Articles: http://www.aipmm.com/html/newsletter/article.php • Blogs: http://aipmm.com/anthropology/ • Webinars: http://aipmm.com/aipmm_webinars/ • Certification: http://aipmm.com/html/certification/ • Product Management Framework Brochure: http://www.aipmm.com/brochures/AIPMM_PMF.pdf© AIPMM 2012
    • Upcoming Training Courses Upcoming Courses Dates and Location Jun 4-6, 2012 280 Group: Optimal Product Management and Marketing (OPM) Teqcorner, Price: $2,995; Pay only $1,995 when you register by May 18th. For more information or McLean, VA to register, contact Hector Del Castillo at hmdelcastillo@aipmm.com. 280 Group: Certified Product Management Manager (CPM®) Exam Jun 7, 2012 Teqcorner, Intensive Pre Course McLean, VA Price: $1,295 per person; Includes exam fee ($395 savings). Pay only $795 per person when you register in conjunction with the Optimal Product Management course. For more information or to register, contact Hector Del Castillo at hmdelcastillo@aipmm.com.© AIPMM 2012
    • 280 Group: Optimal Product Management & Marketing (OPM) Date: June 4-6, 2012 Time: 8:30 AM – 5:30 PM EDT Place: Teqcorner, 1616 Anderson Rd., McLean, VA Price: $1,995* per person (regularly $2,995) Three day course from the 280 Group covering the entire product lifecycle. Teaches you to manage and launch any product at any stage of its lifecycle. This includes the Product Management Lifecycle Toolkit with corresponding productivity templates. Fourth day intensive certification prep course add-on thoroughly prepares you to take the worldwide standard CPM® or CPMM® certification exam. *Register by May 18th.© AIPMM 2012
    • Optimal Product Management Day One: Foundation Day Two: Product Management Overview Process and Product Life Cycle Day Three: Product Marketing Conceive Market Research Business Cases Competitive Analysis Strategy Requirements Forecasting Roadmaps Pricing Beta Program Launches Marketing End of life© AIPMM 2012
    • 280 Group: CPM® Exam Intensive Prep Date: June 7, 2012 Time: 8:30 AM – 5:00 PM EDT Place: Teqcorner, 1616 Anderson Rd., McLean, VA Price: $795* per person (regularly $1,295) This review course is offered on the morning of the same day of the Certification Exam. It provides an intensive review of the Association of International Product Marketing & Management (AIPMM) body of knowledge (ProdBOK®) to help participants prepare to take the exam to earn the prestigious Certified Product Manager (CPM®) credential. Participants review the key concepts and terminology used in the exam as well as strategies for answering exam questions and a Q&A for anything else they want to review. Price includes certification exam fee ($395 savings). * Promotional price applies only when you register for the OPM course simultaneously.© AIPMM 2012
    • CPM® Exam Intensive Prep Course Morning Afternoon Introduction What is Product Management? Marketing Mix Product Life Cycle Product Positioning Understanding Goods and Services Value Creation Product Decisions Exam Review Strategic Planning Guidelines Q&A CPM® Certification Exam© AIPMM 2012
    • Upcoming Training Courses Dates and Upcoming Courses Location Product Innovation Leadership - May 17-18, 2012 Igniting innovation and business growth (16 PDUs) Teqcorner McLean, VA Price: $1,697 per person; Pay only $1,597 per person when you register by May 9th. Group discount of $1,497 per person when you register 5 people. For more information or to register, contact Hector Del Castillo at hmdelcastillo@aipmm.com.© AIPMM 2012
    • Product Innovation Leadership - Igniting innovation and business growth (16 PDUs) Date: Thursday, Friday, May 17-18, 2012 Time: 8:30 AM – 5:00 PM EDT Place: Teqcorner, McLean, VA Price: $1,697 per person This course covers best practices and proven methodologies to lead innovation efforts in order for your company to gain or maintain a competitive advantage using a sustainable approach. You will learn knowledge, skills, and tools to integrate and align strategic objectives with a managed and purposeful innovation culture. This course fully prepares you to take the Certified Innovation Leader (CIL) certification exam, which is administered at the end of day two. Price includes training, certification exam fee, AIPMM premium membership, and over 350 templates from Demand Metric. * Pay only $1,597 (Save $100) per person when you register by May 9th. Group discount of $200 per person when you register 5 people.© AIPMM 2012
    • Product Innovation Leadership - Igniting innovation and business growth (16 PDUs) Day 1 Day 2 Introduction & Overview Strategic Innovation Leverage and Phase 2: Plan Alignment (SILA) Phase 3: Develop Project Identification Phase 4: Develop Business Case Development Phase 5: Qualify Phase 1: Conceive Phase 5: Launch Practice Questions Exam Review Certified Innovation Leader (CIL®) Certification Exam© AIPMM 2012
    • Join AIPMM • Network with experts and thought leaders in your profession. • Learn the latest best practices and methodologies. • Expand your knowledge and soft skills. • Sharpen your leadership and influential skills. • Validate your expertise with internationally recognized certifications. • Obtain latest tools to enhance your productivity.© AIPMM 2012
    • Why Get Certified • Bestows internationally recognized credential • Enhances opportunities for career advancement • Improves your earning potential • Validates your expertise regarding best practices • Grants mark of distinction that sets you apart • Connects you with experts and thought leaders • Demonstrates commitment to your profession Source: All About Product Management Certification Webcast, Jun 2010© AIPMM 2012
    • For More Information About • AIPMM membership • Certification courses in your area • Help to implement the right product strategy & process to grow your business© AIPMM 2012
    • Join My Professional Network! Hector Del Castillo, PMP, CPM, CPMM Transforming products to profit for technology-based organizations.TM Product Marketing Director, AIPMM Connect: linkd.in/hdelcastillo Follow: @hmdelcastillo Contact: hmdelcastillo@aipmm.com© AIPMM 2012